Tenders for two residential sites in the New Territories have been awarded on 50-year land grants at a total premium of $694 million, the Lands Department announced on October 17.
     Tuen Mun Town Lot No.498 on Wu On Street was awarded to Rainbow Alpha Holdings (a subsidiary of HKR International) for $551 million. It has a site area of 2,231 sq m and is designated for non-industrial purposes. The minimum number of residential units to be built is 220. A day-care elderly centre has to be built on the site.
     Lot No.1003 in Demarcation District No.40 at the junction of Shun Lung Street and Shun Cheong Street in Sha Tau Kok, was awarded to Jarton (a subsidiary of Far East Consortium) for $143 million. It has a site area of 3,344 sq m and is designated for non-industrial purposes. The minimum number of residential units to be built is 240.