King Virtue Limited wins New Kowloon property bid

The New Kowloon Inland Lot No. 6674 includes a 50-year lease for the purchaser.

King Virtue Limited, the parent company of Sino Land Company Limited and Great Eagle Holdings Limited, emerged as the highest tenderer for New Kowloon Inland Lot No. 6674 at Choi Hing Road, Jordan Valley, Kowloon, securing a 50-year lease with a premium of $1.61b, the Lands Department announced on 7 January.

The lot covers approximately 3,830 square metres and is designated for non-industrial use, excluding godown, hotel, and petrol filling station.

The minimum gross floor area (GFA) and the maximum GFA are 20,682 sq. m. and 34,470 sq. m., respectively.

Government facilities, including a day activity centre, hostels for the mentally handicapped, and a lay-by, are excluded from the GFA as they will be constructed by the purchaser under the sale conditions.

Other bidders included Century Mark Investments (CK Asset Holdings), Chinawide Development (Henderson Land), Keen Point, Noble Perfect Investments (Kerry Properties), Pacific Great International (Sun Hung Kai Properties), Strong Associate (K. Wah International), and Zarow (Wheelock Properties).