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Sino Land unit wins Tuen Mun lot for $1.089b
The land grant covers 50 years.
The Lands Department has released details of the tender results for Tuen Mun Town Lot No. 569, a residential site located at Hoi Chu Road, Tuen Mun.
The site was awarded on 13 August to Sky Honest Limited, a subsidiary of Sino Land Company Limited, under a 50-year land grant at a premium of $1.089b.
In its statement, the department also disclosed the tender amounts submitted by the unsuccessful bidders.
The amounts, published anonymously in descending order, were $698m, $610m, $573m, $555.18m, $550m, $504m, and $480.5m.
The disclosure provides transparency on the level of market interest and competition for the site.
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