Three Hong Kong government's lots were sold for a total of 10.15 billion Hong Kong dollars (1.30 billion US dollars) at a public land auction held by the Lands Department of Hong Kong government on Tuesday.

The first two lots sold were the adjacent Kowloon Inland Lot Nos. 11168 and 11167 at Hoi Ting Road and the junction of Hoi Wang Road/Hoi Ting Road, both in the West Kowloon Reclamation Area.

Following an opening bid of 2.09 billion Hong Kong dollars (267.95 million US dollars), Kowloon Inland Lot No. 11168 was sold to Best Profit Limited for 3.19 billion Hong Kong dollars (408.97 million US dollars). The lot has an area of 7,397 square meters and the developer is required to complete a minimum gross floor area of 33,287 square meters by September 30, 2010.

The adjacent Kowloon Inland Lot No. 11167 was sold to Union Empire Limited for 2.73 billion Hong Kong dollars (350 million US dollars) after an opening bid of 1.66 billion Hong Kong dollars (212.82 million US dollars). The lot has an area of 6,179 square meters and a minimum gross floor area of 27,806 square meters is required to be completed by September 30, 2010.

Both sites are designated for non-industrial purposes (excluding hotel, petrol filling station and godown).

The third lot was New Kowloon Inland Lot No. 6350, at Fung Shing Street, Ngau Chi Wan, which was sold to General Winner Limited for 4.23 billion Hong Kong dollars (553.85 million US dollars). The opening bid was 2.49 billion Hong Kong dollars (319.23 million US dollars). The lot has a site area of 14,459 square meters and a minimum gross floor area of 43,377 square meters is required to be completed by September 30, 2010. The lot is designated for private residential purpose.

Source: xinhua