Asia Standard International is negotiating the land premium payable to the Government for three residential projects, according to finance director Ricky Lun Pui-kan.
He estimated the premium should be about HK$200 million.
Mr Lun said yesterday he hoped the talks on the developments in Aberdeen, Repulse Bay and Happy Valley could be settled in the next year in light of the improved market sentiment in the sector.
A land premium is required for the added value of the land arising from the change of land use or lease modification.
The company is also in land premium discussions for another residential project in Yau Tong that involves a conversion of industrial land to residential use.
Mr Lun said Asia Standard's land bank of about 1.5 million square feet in floor area was sufficient for property development in the next three years.
