XN000022-1992-09-18 — Page 4

FRIDAY, SEPTEMBER 18, 1992

THREE LOTS OF LAND FETCH $511.6 MILLION

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THREE PIECES OF GOVERNMENT LAND WERE SOLD FOR A TOTAL AMOUNT OF $511.6 MILLION BY THE BUILDINGS AND LANDS DEPARTMENT IN A AUCTION THIS (FRIDAY) AFTERNOON.

THE SITE OFF SIN SING STREET, SHAU КЕТ WAN, WAS ZEBRINE INVESTMENT LTD AT $475 MILLION WITH BIDDING OPENED MILLION.

PUBLIC

SOLD TO

AT $280

WITH AN AREA OF ABOUT 1,685 SQUARE METRES, IT IS INTENDED FOR NON-INDUSTRIAL (EXCLUDING HOTEL AND GODOWN) PURPOSES.

ACCORDING TO THE BUILDING COVENANT, THE DEVELOPER HAS то COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 9,500 SQUARE METRES ON OR BEFORE SEPTEMBER 30, 1996.

THE SECOND SITE, LOCATED ON KIN ON STREET, AREA 9, TUEN MUN, WAS BOUGHT BY FAMOUS PALACE PROPERTIES LTD AT $32 MILLION. BIDDING OPENED AT $28 MILLION.

WITH AN AREA OF ABOUT 2,464 SQUARE METRES, IT IS EARMARKED INDUSTRIAL AND/OR GODOWN PURPOSES AND MULTI-STOREY VEHICLE PARK.

FOR

THE BUILDING COVENANT STIPULATES THAT THE DEVELOPER HAS COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 14,045 SQUARE METRES OR BEFORE SEPTEMBER 30, 1995.

THE THIRD SITE,

ΤΟ

ON

LOCATED IN CHFUNG SHA ON LANTAI ISLAND, WAS SOLD TO ORIENTAL BEST PROPERTY LTD AT $1.6 MILLION WITH BIDDING OPENED AT $2.5 MILLION.

WITH AN AREA OF ABOUT 855 SQUARE METRES, THE SITE IS DESIGNATED FOR PRIVATE RESIDENTIAL PURPOSES.

ACCORDING TO THE BUILDING COVENANT, THE DEVELOPER HAS TO COMPLETE A GROSS FLOOR AREA OF NOT LESS THAN 171 SQUARE METRES ON OR BEFORE SEPTEMBER 30, 1996

THE AUCTION, HELD IN THE THEATRE OF THE HONG KONG CITY HALL, WAS CONDUCTED BY GOVERNMENT LAND AGENT, MR TIMOTHY MILLS,

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