The Lands Department is set to conclude more land-premium deals as the gap between developers and the Government on value calculation has narrowed, according to Deputy Director of Lands John Corrigall.
Mr Corrigall said the latest settlement was of the 2.33 million square foot township development in Discovery Bay on Lantau, a joint venture between HKR International and Citic Pacific.
A letter confirming the premium agreement was sent to the developer yesterday, he said.
Mr Corrigall declined to confirm whether the reported settlement figure of $2 billion was correct.
The project will provide 269,100 sq ft of hotel space and a commercial area of 195,904 sq ft. The remainder will be for residential use.
The settlement came on the same day the Government announced a joint venture with Disney to build a theme park and resort complex in Penny's Bay on Lantau.
Mr Corrigall would not say whether the Disney deal had prompted the settlement of the Discovery Bay premium.
