The Lands Department today announced the Government has rejected all 10 tenders for the purchase of a Yuen Long residential site, as the tendered premiums did not meet the reserve price.
It said the Government will not sell a site if the reserve price, as assessed by professional valuers, is not met.
Lot No.1066 in Demarcation District No.103 in Au Tau, Yuen Long, has an area of 28,457 square metres.
The department has cancelled three tender exercises since April 2012 as the bids did not meet the reserve price.
