XN000022-1990-11-22 — Page 9

GOVT LAND SOLD FOR $641M

*

OF

$641

THREE PIECES OF GOVERNMENT LAND WERE SOLD FOR A TOTAL MILLION BY THE BUILDINGS AND LANDS DEPARTMENT AT A PUBLIC AUCTION TODAY (THURSDAY).

TOPPING THE LIST IS A LOT AT YEN CHOW STREET, SHAM SHUI PO, KOWLOON, WHICH WAS BOUGHT BY FOTOSKY INVESTMENT LIMITED FOR $280 MILLION. BIDDING OPENED AT $190 MILLION.

THE LOT, WHICH MEASURES ABOUT 7,198 SQUARE METRES, IS FOR PUBLIC TRANSPORT TERMINUS, MULTI-STOREY CARPARK AND NON-INDUSTRIAL PURPOSES, EXCLUDING GODOWN, HOTEL AND RESIDENTIAL PURPOSES.

ACCORDING TO THE BUILDING COVENANT, A GROSS FLOOR AREA NOT EXCEEDING 77,738 SQUARE METRES HAS ΤΟ BE COMPLETED ON OR BEFORE SEPTEMBER 30, 1994.

THE SECOND LOT, WHICH IS DESIGNATED FOR PRIVATE PURPOSES, IS LOCATED IN AREA 29A, FANLING.

BIDDING OPENED AT $180 MILLION AND THE LOT WAS

YENISEY COMPANY LIMITED FOR $256 MILLION.

RESIDENTIAL

BOUGHT BY

AND THE

THE LOT COVERS AN AREA OF ABOUT 12,670 SQUARE METRÈS, DEVELOPER HAS TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 25,087 SQUARE METRES ON OR BEFORE DECEMBER 31, 1993.

THE THIRD LOT, ALSO FOR PRIVATE RESIDENTIAL PURPOSES, IS IN AREA 37A, SHA TIN, AND HAS AN AREA OF ABOUT 16,305 SQUARE METRES.

BIDDING OPENED AT $85 MILLION AND THE LOT WAS BOUGHT BY TASUDI INVESTMENT LIMITED FOR $105 MILLION.

THE DEVELOPER HAS TO COMPLETE A GROSS FLOOR AREA NOT LESS THAN 9,960 SQUARE METRES ON OR BEFORE DECEMBER 31, 1994.

THE GOVERNMENT LAND AGENT, MR TIM MILLS, WHO CONDUCTED THE AUCTION, DESCRIBED THE BIDDING AS ACTIVE AND WAS PLEASED WITH THE RESULTS.

THE AUCTION WAS HELD AT THE CITY HALL THEATRE.

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