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 | Wednesday, April 26, 2000, updated at 09:39(GMT+8) | ||||||||||||
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HK Govt Gains HK$2.03 Bln From Land AuctionTwo government lots of Hong Kong land were sold for a total of HK$ 2.03 billion (US$ 260 million) at a public auction held by the Lands Department Tuesday afternoon.The first lot, located at Kowloon Peninsular, is a site of about 16,064 square meters. It was sold for only the opening bid at HK$ 1.9 billion (US$ 243 million). The second one, a 1,925-square-meter site on Hong Kong Island, was sold for HJK$ 130 million (US$ 16.7 million), as against the opening bid of 100 million HK dollars (US$ 12.8 million). Market analysts took the land sale as disappointing. As government plans to put more land to auction this fiscal year, buyers adopt a wait-and-see attitude on the market. Analysts also forecast some 10 percent decrease of housing prices in the following months.
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