A Government lot in Tung Chung was sold for $3.42 billion at the Lands Department's first auction of the 2010-11 financial year at Queen Elizabeth Stadium on May 11, 2010.

     Tung Chung Town Lot 37 at Tung Chung Area 55b, Lantau, was sold to First Harvest Development (Nan Fung Group) for $3.42 billion. The opening bid was $2.876 billion.

     The lot has a site area of 26,200 square metres and is designated for non-industrial purposes.

     The maximum gross floor area is 133,620 square metres and the developer must complete a minimum gross floor area of 78,600 square metres for residential purposes

     According to various industry sources, it is expected that the entire development could provide approximately 1,700 residential units. The development and construction cost is estimated at $2.9 billion (excluding land cost).