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RESIDENTIAL PROPERTY | Tony Chua, Hong Kong
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Lands Department awards tenders of 2 sites

Site at Shek Mun was awarded to Fancy Luck Development while residential site near 35 South Bay Road was awarded to Ultra Well Group.

The Lands Department on Thursday announced the tenders for a business site in Sha Tin and a residential site on South Bay Road have been awarded on a 50-year land grant at a total premium of $1.32 billion.

The business site at the junction of On Yiu Street and On Kwan Street, Shek Mun, was awarded to Fancy Luck Development for $828 million. The residential site near 35 South Bay Road was awarded to Ultra Well Group for $498.88 million.

The Sha Tin lot has a site area of 7,997 square metres and is designated for non-residential purposes, excluding hotel, petrol station and residential-care home. The minimum and maximum gross floor areas are 23,991 and 39,985 square metres, according to a Lands Department report.

The South Bay Road lot has a site area of 1,338 square metres and the gross floor areas must be between 723 and 1,204.2 square metres.

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