The Government is expected to reap more than $6 billion from the sale of three residential Crown lots in June at what will be the first public auction this financial year and the last before the handover. The sites, for private development, are part of the land grant programme fixed by the Sino-British Land Commission yesterday for between April 1 and June 30. Land sales after the handover will be decided by the Special Administrative Region (SAR) Government. The commission agreed to release 98.76 hectares of land, mainly for infrastructure development. Lands Department principal Government-land agent Nigel Burley said the land to be granted this year - seven sites covering 9.26 hectares - would be sold through public auctions and tenders. These include three residential sites for private development that will be sold through auction on June 3 and one industrial site for sale through cash tender. Also for sale are two Government-subsidised housing sites under the Private Sector Participation Scheme and a small site for a petrol station. Mr Burley said about 1,200 residential flats would be produced from the three sites for auction - a 570,492 square foot site at Wong Ma Kok, Stanley, a 79,675 sq ft residential-commercial site in Wan Hoi Road, Hunghom, and a 24,111 sq ft site in Cheung Sha, Lantau Island. Surveyors said the Stanley and Hunghom sites would draw the most interest. First Pacific Davies' valuation and consultancy division director William Wong said the Stanley site had a good sea view and was ideal for low-rise luxury development. He said the gross floor area of the site would be about 285,000 sq ft. Surveyors expected the site to be sold at an accommodation value between $8,500 and $11,000 per square foot, setting the sale price between $2.4 billion and $3 billion. The Hunghom site is next to Laguna Verde, a large joint residential development of Cheung Kong (Holdings) and China Light & Power Co, selling for more than $8,500 per square foot. Surveyors said the Wan Hoi Road site would be sold at $3.3 billion or an accommodation value of $5,500 per square foot.