Hong Kong’s Nan Fung Development wins tender for a site in Kai Tak, Kowloon,Hong Kong for $3.16 billion

Hong Kong’s Lands Department announced that the tender for a site, New Kowloon Inland Lot No. 6556 at Kai Tak Area 1F Site 2, Kai Tak, Kowloon, has been awarded to the highest tenderer, Rich Union Development Limited (parent company: Nan Fung Development Limited), on a 50-year land grant at a premium of HK$24.6 billion ($3.16 billion).

New Kowloon Inland Lot No. 6556 has a site area of about 19,044 square metres and is designated for non-industrial (excluding residential, godown and petrol filling station) purposes. The minimum gross floor area and the maximum gross floor area are 106,602 sq m and 177,670 sq m respectively, both including the gross floor area of Government Accommodation, being a public transport interchange, and an underground shopping street to be constructed by the purchaser.

Source: The Lands Department

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