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Four lots sold for $3,370 million
Four lots of Government land were sold for a total of $3,370 million at a public land auction held by the Lands Department this (Monday) afternoon.
The first lot situated in Area 37C, Tseung Kwan O, Sai Kung, was bought by Great Land (Hong Kong) Limited at $1,060 million, with bidding opening at $980 million.
The lot has an area of 5,970 square metres for non-industrial purpose, excluding office and godown. The two floors immediately above the foundations shall be used for non-industrial purposes, excluding residential, godown and office, while the remaining floors shall be for private residential
use.
The developer has to complete a gross floor area of not less than 29,164 square metres on or before March 31, 1999.
The second lot, located in Area 100, Ma On Shan, Sha Tin, was sold to Lead Talent Investment Limited at $1,320 million, with bidding opening at $1,000 million.
The lot has an area of 10,306 square metres and is intended for non- industrial use, excluding godown, service apartments and petrol filling station, but including hotel.
The developer has to complete a gross floor area of not less than 30,920 square metres on or before September 30, 1999. If the lot or part of it is to be developed for hotel purposes, the building convenant date will be extended to March 31, 2000. The third lot at Chung Hau Street, Ho Man Tin, was sold to Macwan Limited at $920 million, with bidding opening at $800 million.
It has an area of 3,380 square metres for private residential use.
The developer has to complete a gross floor area of not less than 15,210 square metres on or before March 31, 1998.