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| No.8 August, 2010 |
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HK Government land release nets AU$1.1 billion |
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 A Hong Kong Government land sale has netted just over AU$1 billion, boosting much needed supply for residential and commercial sites.
The two plots of land in Kowloon were sold on August 17 for HK$7.61 billion (AUD$1.1 billion) in the fifth land auction of the 2010-2011 financial year held by the Lands Department.
The first lot – a former government training centre - was sold to Bradford Investments Limited at HK$4.1 billion. The 7,326 square metre site (1.81 acres) is designated for private residential purposes.
The second lot - at the Hung Hom Bay Reclamation Site was sold to New Harbour Investments Limited for HK$3.51 billion. The 7,551 square meter lot (1.86 acres) is designated for non-industrial purposes.
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