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Hong Kong government auctions 2 sites

The Hong Kong government is auctioning two sites in Kowloon, according to the city's Lands Department.

The first plot, Kowloon Inland Lot No. 11262, is a 59,764-square-meter site at the junction of Lin Cheung Road and Austin Road West. The site is designated for nonresidential and nonindustrial purposes. The government will be accepting bids until Nov. 22.

The second plot, New Kowloon Inland Lot No. 6554, is an 18,353-square-meter site in Kai Tak area. The site is designated for nonindustrial purposes, as well as for a range of social service facilities such as nursing homes. The government will invite bids for the site, with a maximum gross floor area of 111,953 square meters, between Sept. 27 and Nov. 8.

Meanwhile, a revived auction of a separate commercial site in Hong Kong has drawn five bids, South China Morning Post reported Sept. 20

Goldin Financial Holdings Ltd. acquired the 10,692-square-meter plot for HK$11.12 billion in May, but withdrew its bid in mid-June citing social instability. A property agent said the site could now be resold at 40% less than the price in May, the publication reported.