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Two Govt lots sold for $401 million
Two lots of Government land were sold for a total of $401 million at a public land auction held by the Lands Department this (Wednesday) afternoon.
The third lot, covering an area of 11,280 square metres in Fanling for non- industrial use, was withdrawn because no bidding was made for the opening price of $600 million.
The lot in Area 46 at the junction of Ma Lok Path and Kau To Shan Road, Sha Tin, was bought by Treasure Properties Limited at $171 million, with bidding opening at $130 million. With an area of 6,500 square metres, it is designated for residential
use.
The developer has to complete a gross floor area of not less than 2,340 square metres before March 31, 1998.
The other lot, in Ap Lei Chau Praya Road was bought by Cheerjoy Development Limited at $230 million, with bidding opening at the same price. It has an area of 16,770 square metres for industrial or godown use, but excluding offensive trades. The developer has to complete a gross floor area of not less than 95,589 square metres before March 31, 2000.
Held in the Concert Hall of the Hong Kong Cultural Centre, Tsim Sha Tsui, the auction was conducted by Government Land Agent Mr Timothy Mills,
End/Wednesday, January 25, 1995
Residential mortgage survey results for December 1994
The growth in residential mortgage loans for the purchase of properties in Hong Kong remained modest in December 1994, according to the latest monthly survey conducted by the Hong Kong Monetary Authority (HKMA).
The latest figures show that the total amount of outstanding mortgage lending by the 33 institutions in the survey rose by 0.6% in December (0.8% in November) to $237.1 billion.
The percentage change has been adjusted to allow for the reclassification, securitisation and sale of loans by some institutions amounting to $8.6 billion.
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