The tender for a Kwun Tong site has been awarded on a 50-year land grant at a premium of $4.951 billion, the Lands Department announced today.

Lot No. 1069 in Survey District No. 3, off Anderson Road was awarded to Art Champion Investment, a subsidiary of CK Asset Holdings Ltd.

It has a site area of about 20,167 sq m and is designated for private residential purposes.

The minimum and maximum gross floor areas are 26,279 sq m and 57,387 sq m.

The Lands Department said that no less than 1,000 units out of the total number of residential units to be erected within the lot shall be starter homes units.