The project at 1 and 1A Yuk Wo Road, Mid-Levels West, held by Lai Sun, was approved for the construction of a 19-storey residential block with two basement levels and a total gross floor area of over 54,000 square feet.
The acquisition, which will be completed in early 2022, will provide approximately 20 medium to large sized units ranging from 3 to 4 bedrooms.
Five 3-storey detached houses with a total floor area of approximately 27,000 square feet have been approved for Jardine's Lookout, 24-38 Jardine's Lookout, Mid-Levels East.
Earlier it was reported that the project was acquired by Nan Fung or related parties at a cost of nearly $900 million last year for 60% of the project's ownership.
In Kowloon, a 7-storey residential building with a total floor area of 31,400 square feet is permitted at Tsui Hang Garden, 14 Cornwall Street, Kowloon Tong, which is owned by a related party of Khoo Teng Tat's Dibang Investment.
It is understood that the above property was purchased by the consortium concerned in 2019 for approximately $660 million at a land premium of approximately $20,972 per square foot.
A 2-storey detached house with a total floor area of about 6,073 sq ft with basement has been approved for construction at 55 Kimberley Road in the same district.
In addition, 22 building projects were approved, which upon completion will provide a total of 98,800 square metres of floor area for residential use, involving 2,636 units, and 90,506 square metres of floor area for non-residential use.
The Department has also received notices of commencement of superstructure works for 11 building projects.
The Buildings Department also issued 25 occupation permits, including three on Hong Kong Island, 12 in Kowloon and 10 in the New Territories.
Of these, 19,155,550 square metres of floor area were for residential use, with 503 units, while 81,170,000 square metres of floor area were for non-residential use.
The total value of offers for newly completed buildings in March was about $8.2 billion.
The Department approved eight building demolition projects involving eight buildings/other structures. The Department received 2,723 reports of UBWs and issued 1,031 removal orders against UBWs in March.