New World Development wins tender for government land site in Cheung Sha Wan,Hong Kong for HK$7.8 billion
New World Development has won a government land site in Cheung Sha Wan after paying a higher-than-expected HK$7.794 billion.
The Lands Department announced that the tender for a site, New Kowloon Inland Lot No. 6505 at King Lam Street, Cheung Sha Wan, Kowloon, has been awarded to the highest tenderer, Super Record Limited (parent company: New World Development Company Limited), on a 50-year land grant at a premium of $7,794.38 million.
New Kowloon Inland Lot No. 6505 has a site area of about 7,728 square metres and is designated for non-residential (excluding hotel, petrol filling station and residential care home) purposes. The minimum gross floor area and the maximum gross floor area are 55,642 sq m and 92,736 sq m respectively.
Source: The Lands Department