The tender for a Cheung Sha Wan residential site has been awarded on a 50-year land grant at a premium of $17.29 billion, the Lands Department announced on November 15.
     New Kowloon Inland Lot No. 6549 was awarded to Sky Asia Properties, a subsidiary of a consortium made up of Sino Land Company, Shimao Property Holdings, Wheelock Properties, K Wah International Holdings and S E A Holdings.
     It has a site area of about 19,348 sq m and is designated for private residential purposes. The minimum and maximum gross floor areas are 55,062 and 91,770 sq m.
     Expert in the field said the waterfront site in the former industrial area of Cheung Sha Wan is probably the city’s most expensive residential plot. Thomas Lam, senior director at Knight Frank said it is expected that the total development cost will be approximately HK$22 billion.