HK gov't lot fetches $1.4 bln

08:33, June 09, 2010      

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A Hong Kong government lot in Ho Man Tin was sold for 10.9 billion HK dollars (1.4 billion U.S. dollars) on Tuesday at the Lands Department's third auction of the 2010-2011 financial year.

According to the news release from the government, Kowloon Inland Lot 11175 at the junction of Fat Kwong Street and Chung Hau Street was sold to Polarland Limited for 10.9 billion HK dollars. The opening bid was 6.8 billion HK dollars.

The lot has a site area of about 16,151 square meters and is designated for private residential purposes. The maximum gross floor area is 80,755 square meters and the developer must complete a minimum gross floor area of 48,453 square meters. (1 U.S. dollar is about 7.8 HK dollars)

Source:Xinhua

(Editor:梁军)

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