The Lands Department today announced that the tender for a site, Tseung Kwan O Town Lot No.119 at Area 66B2, Tseung Kwan O, New Territories, has been awarded to Fortune Precision Limited on a 50-year land grant at a premium of HK$1.86 billion.

Fortune Precision is a subsidiary of Wheelock (HKG:0020).

The Tseung Kwan O site has an area of about 8,246 sqm and is designated for non-industrial (excluding godown, hotel and petrol filling station) purposes. The minimum gross floor area and the maximum gross floor area are 27,212 sqm and 45,353 sqm respectively. The total number of residential units to be built shall not be less than 590 and shall not exceed 620.