Kowloon Bay site sold for $2.6b

Here's the winning bidder.

According to a report, the Lands Department announced that the tenders for a Kowloon Bay commercial site and a Sai Kung residential site have been awarded on 50-year land grants for $2.638 billion and $850 million.

The commercial site on Wang Chiu Road and Lam Lee Street was awarded to Star Wing International. It has a site area of about 4,297 square metres and is designated for non-industrial purposes. The minimum and maximum gross floor areas are 30,940 sq m and 51,564 sq m.

The residential site in Demarcation District No.215 on Hong Tsuen Road was awarded to World Talent (Hong Kong). It has a site area of 8,073 sq m and is designated for private residential purposes. The minimum and maximum gross floor areas are 9,688 sq m and 16,146 sq m. At least 270 flats must be built.