Tenders for a hotel site has been awarded on a 50-year land grant at a total premium of $2.383 billion, the Lands Department announced on December 22, 2011. 
     The waterfront hotel site, Kowloon Inland Lot No 11205 at the junction of Hung Luen Road and Wa Shun Street, Hung Hom, was awarded to Shangri-La Hotel (Kowloon) for $2.328 billion. The Kowloon lot has a site area of 15,623 square metres and is designated for hotel purposes. The minimum and maximum gross floor areas are 41,795 and 62,492 square metres, of which at least 10,750 square metres must be allocated for a transport interchange.
     The Lands Department also awarded a residential site to Sky Target for $55 million. The site is located at Lot No 726 in Demarcation District No 4 in Mui Wo, Lantau Island. The Mui Wo lot is 2,260 square metres and is designated for non-industrial purposes. The minimum and maximum gross floor areas are 2,754 and 4,590 square metres. It will house a maximum of 50 flats.