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January 9, 2019

Tender awarded for residential site in Kai Tak
The Lands Department announced on December 27 that the tender for a site, New Kowloon Inland Lot No. 6575 at Kai Tak Area 4B Site 2, Kai Tak, Kowloon, has been awarded to the highest tenderer, Macfull Limited (parent company: China Overseas Land and Investment Ltd), on a 50-year land grant at a premium of $8,033,880,000. New Kowloon Inland Lot No. 6575 has a site area of about 9,048 sq m and is designated for private residential purposes. The minimum gross floor area is 33,116 sq m and the maximum gross floor area that may be attained is 55,192 sq m.
     According to news report, Hong Kong’s first “starter homes” project received some 3,000 applications just two days after the launch. The response means that the 450 flats in Hung Hom are already oversubscribed six-time since applications opened recently. The Urban Renewal Authority (URA), which was invited by the government in July to pilot test the “starter home” scheme, said that around 8,000 people had registered to take a tour of the show flats. The flats, which range in size from 261 sq ft to 507 sq ft, will go on the market from HK$3.14 million to HK$6.6 million after a 38% discount.

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