Government awards lots

Both are residential sites worth a combined HK$5.45 billion.

The Lands Department said the lots have been awarded on a 50-year land grant. A Tseung Kwan O lot was awarded to Hinwood Investment for HK$2.545 billion. It has an area of 14,954 square metres and is designated for non-industrial purposes, but excluding warehouse, hotel and petrol station.

Tseung Kwan O New Town is one of nine new towns in Hong Kong. It was mainly built on reclaimed land in the northern half of the bay. The population as of 2011 is about 368,000

The minimum and maximum gross floor areas are 31,403 and 52,339 square metres, of which 26,917 to 44,862 square metres are for private residential purposes. The developer must build 600 to 630 units.

A Sha Tin lot was awarded to Crown Treasure Investments for HK$2.901 billion. It has an area of 14,400 square metres and is designated for private residential purposes.

The minimum and maximum gross floor areas are 31,336 and 52,227 square metres. The total number of residential units to be built can be no less than 440 and no more than 463.