The family of Robert Ng Chee Siong is expected to pay HK$143 million in land premiums for its privately owned residential redevelopment in Bowen Road, according to sources. The family, the controlling shareholder of Sino Land, had agreed to basic terms with the Lands Department and was inclined to accept the premium offer, they said. Analysts said the latest land premium, representing an accommodation value of HK$3,082 per square foot, would serve as a barometer for other land premium cases. Sources said the offer represented a reduction of 30 per cent from the department's previous premium request of HK$210 million early this year. Initially, the redevelopment premium was put at HK$170 million in 1998, which equated to an accommodation value of HK$3,664 per square foot. The Ng family filed an appeal and could not reach a compromise with the Government over some technical issues. The project has been pending since. The original 6,400 sq ft residential site at 13 Bowen Road was bought for HK$103 million by the family through a private tender in 1996. The development site was then enlarged to 11,000 sq ft by acquiring an additional 4,600 sq ft lot nearby. As a result, the gross floor area to be developed has been increased to 56,400 sq ft at a plot ratio of about five.