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Kai Tak Site Sold

THE TENDER FOR A SITE IN KAI TAK HAS BEEN AWARDED ON A 50-YEAR LAND GRANT AT A PREMIUM OF $8.33 BILLION, THE LANDS DEPARTMENT ANNOUNCED. New Kowloon Inland Lot No. 6574 at Kai Tak Area 4B Site 3 was awarded to a syndicate formed by companies including Wheelock Properties, New World Development and Henderson Land Development. It has a site area of about 9,706 sq m and is designated for private residential purposes. The minimum and maximum gross floor areas are 32,030 sq m and 53,383 sq m.