ENG-1997 — Page 100

At $5.5 billion, this bidder wins the right to build on a 10 570 square metre lot in Repulse Bay. Held in the Concert Hall of the

Hong Kong Cultural Centre, Tsim Sha Tsui, on August 27, it was the first land auction after the Handover, and the three lots offered were sold for a total of $5.67 billion. The second lot was on Lamma Island and the other

at Sha Tin. All were earmarked for low-density housing. The land sale was taken as a strong show

of confidence in the new era.

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Robert Ng / South China Morning Post