The government said it will auction a plot of land for residential use in Kowloon Tong on Nov 28.

The auction will be the third of the current fiscal year to March, it said in a statement.

It said it has accepted bids for the site from several developers, triggering the auction under the application list system.

A Lands Department spokesman said the government has accepted a minimum guaranteed bid of 1.1 bln hkd for the site at 1 Broadcast Drive in Kowloon Tong, which covers a site measuring 6,088 square meters and a minimum gross floor area of 10,958 square meters.

Under the application list system, a site will be put up for auction only after the government receives an acceptable bid for the site.

Posted: 10|20|06 at 1:57 pm. Filed under: Property News.