Hong Kong to auction Kowloon Tong residential site – Nov 28
PUBLISHED 20 October 2006
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.
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