Tenders for two residential sites have been awarded on 50-year land grants at a total premium of around $2.53 billion, the Lands Department announced on September 18, 2013.
     Sha Tin Town Lot No. 578 in Area 56A, Kau To, Sha Tin, New Territories, was awarded to Eminent Gold Investments (a consortium of Paliburg Holdings and Regal Hotels International) for HK$2.39 billion, which represents an accommodation value of about HK$6,837 per sq ft.
     The Sha Tin site is around 17,476 square metres and is designated for private residential purposes. The minimum and maximum gross floor areas are 19,484 and 32,474 sq m.
     The Wan Chai site, Inland Lot No. 9049 at Sik On Street, Wan Chai, Hong Kong, was awarded to Joint Rise Development of Sino Land at $139.9 million or an accommodation value of about HK$12,497 per sq ft.
     The site is about 208 square metres and is designated for private residential purposes. The minimum and maximum gross floor areas are 624 and 1,040 sq m.