Ocean Century Investments wins Oil Street site tender

With an area of about 7,887 sq. m. and is ascribed for hotel or non-industrial purposes.

Ocean Century Investments has won the tender for a site at Oil Street in North Point on a 50-year land grant at a premium of $6.2672 billion, the Lands Department announced on Thursday.

The lot has a site area of about 7,887 square metres and is designated for hotel or non-industrial purposes.

It has a minimum gross floor area of 42,200 square metres, and a maximum of 70,200 square metres. At least 30,000 square metres of the total gross floor area must be used for hotel purposes together with any other accommodation.