Two residential sites in Kai Tak on Friday received a huge response from developers who submitting a total of 29 bids despite the restriction that the flats built on the sites must be sold to Hong Kong permanent residents.
The smaller of the two sites attracted 16 bids, while the adjacent one, 13 bidders, said a Lands Department spokesman.
The sites are in the centre of the Kai Tak development area and near the future Kai Tak MTR station on the Sha Tin-Central Link line.
Surveyors estimated they could fetch HK$3.96 billion to HK$4.4 billion, or HK$4,500 to HK$5,000 per square foot.
The smaller site covers an area of 83,647 square feet, which could yield a total gross floor area of 418,235 sq ft.
The larger site has an area of 92,409 sq ft and could provide a total gross floor area of 462,045 sq ft.
