The Government rejected all five tenders received for the purchase of a non-industrial site in Kai Tak, the Lands Department announced today.
It said the tendered premiums did not meet the Government’s reserve price for the site.
The New Kowloon Inland Lot No. 6546 at Kai Tak Area 4C Site 4 has a site area of about 10,692 sq m.
In recent years, six tender exercises for government land sales were canceled because the bids fell below the reserve prices. Three of these sites were successfully re-tendered.