2 home sites sold for $2.5b

It's on a 50-year land grant.

According to Lands Department, 2 residential sites have been awarded on a 50-year land grant at a total premium of $2.502 billion.

Tseung Kwan O Town Lot No.112 was awarded to Great Horwood Limited at $2.449 billion. It has a site area of 13,922 square metres and is designated for non-industrial purposes. The minimum and maximum gross floor areas are 31,743 and 52,904 square metres, of which 27,566 to 45,943 square metres must be for private residential purposes. At least 655 residential units must be built.

Tuen Mun Town Lot No.430 was awarded to Smart Touch Investments at $53.2 million. It has a site area of about 3,173 square metres and is designated for private residential purposes. The minimum and maximum gross floor areas are 762 and 1,269 square metres.