Introduction

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Sha Tin is a well developed new town comprising mainly residential areas. About 65% of the population live in public housing which includes rental estates, Tenants Purchase Scheme and Home Ownership Scheme courts. There are also about 29,000 people living in some 48 indigenous villages. In addition, there are four industrial areas for light industries in Sha Tin including Tai Wai, Fo Tan, Siu Lek Yuen and Shek Mun.

Projects

嵐岸
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Lake W

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信和 Lake W 中文命名銀鋒•湖泊
8 April 2008

【明報專訊】正當信和（0083）開始軟銷沙田火炭御龍山之際，地政總署資料顯示，該集團於馬鞍山烏溪沙站上蓋的Lake W，已命名為「銀鋒•湖泊」，涉及2274伙，預計於御龍山推出後，約於今年較後時間才推售。

地政總署資料同時顯示，今年首季僅批出已售罄的長實（0001）將軍澳日出康城1期首都，以及計劃下月推出的泛海（0129）香港仔南灣御園（即前夏巴車廠重建項目），共涉及2276伙。

此外，華置（0127）的旺角新填地街單幢樓項目「MOD535」，華置銷售經理任建華稱，項目已獲批滿意紙，項目隨時可開售，涉及85伙。據悉，該盤昨天已安排部分代理參觀位於尖沙嘴新港中心的示範單位。

投資客擬5000萬掃皇御居10伙

另外，百樂集團附屬公司佳亨投資的沙田皇御居，市場消息指，有投資者計劃大手連租約掃入10伙，涉及金額約5000萬元，呎價約5400元，但由於未達發展商的意向呎價7000元水平，暫未落實成交。

TV Commercial for Lake Silver
xnut3WE4IlA

The Chinese name is so.... odd. I think they're taking the obscure cool factor too far...

Henderson slams `expensive' premium for Wu Kai Sha project
Hong Kong Standard
Wednesday, June 03, 2009

Henderson Land Development (0012) will appeal against the government's land premium for its massive Lok Wo Sha residential project in Wu Kai Sha.

Chairman Lee Shau-kee said the land premium was too expensive, above HK$2,000 per square foot, local media reported. "Of course [the premium] is not acceptable," Lee said. "[We] only buy when it's reasonable."

Surveyors estimate the land premium for the project to be higher than HK$7 billion, and possibly as high as HK$10 billion, meaning a price of up to HK$3,400 psf.

The Lok Wo Sha project, developed with New World Development (0017), has a gross floor area of nearly three million square feet.

It could contain more than 3,000 units among some 21 towers. Lee had said that a land premium of less than HK$2,000 psf in Wu Kai Sha was reasonable.

Lake Silver buyers see river of gold
1 June 2009
Hong Kong Standard

Property investors are hoping to reap huge profits by selling flats at Lake Silver for 20 percent more than what they paid just a few days ago.

And Sino Land (0083), which developed the residential project in Wu Kai Shai together with MTR Corp (0066), says it is poised to raise unit prices tomorrow.

Sino said yesterday it sold more than 1,600 units at Lake Silver since Wednesday for an average of about HK$5,500 per square foot.

Salenda Lau, a general manager of sales and marketing at Sino Group, said the company will be raising prices by 2-5 percent.

A block six apartment measuring 2,416 square feet was sold for HK$8,600 psf, Lau noted.

Midland Realty district sales director Ringo Leung estimates more that than 100 Lake Silver homes will be available on the secondary residential market this week, with asking prices 15-20 percent higher than the average HK$4,842 psf for the first batch.

Centaline Property Agency director for New Territories Chris Wong Ho- chung said buyers of about 35 apartments are hoping to sell them for between eight and 10 percent more.

In the near term, ``as a bubble mentality has resurfaced in the Hong Kong property market,'' Citi believes strong liquidity and momentum will spur prices beyond the means of the average household.

As Citi sees the situation, prices are likely to shoot up to levels seen during March 2008. That would represent a 15 percent hike from current levels.

However, ``in our view, it will take a relatively long time for current weak economic fundamentals to realign with current property price levels (same as December 2007), or the March 2008 peak,'' Citi added.

There were around 88 deals in the 10 major housing estates over the weekend, up 41.9 percent from a week earlier. It was the highest level since January last year, according to Centaline.

``Sales of new projects have been satisfactory, and the stock market is picking up,'' said Louis Chan Wing-kit, managing director of Centaline's residential department. ``Buyers are more confident about the property market now,''

Estate agents told to come clean over surrounding developments
9 June 2009
South China Morning Post

The estate agents' watchdog has told agencies to caution their sales staff against making false statements to potential buyers of flats.

This follows accusations by a green group that agents selling property on a new estate had told customers their views would not be blocked by future developments.

Green Sense said six agents promoting Sino Land's Lake Silver in Ma On Shan failed to inform one of its members posing as a buyer that a high-density development would be built later and block the flats' sea views.

Instead, the agents told him there would be a low-density project that would not block the views. The green group also criticised Sino Land for tempting buyers with sales brochures that contained misleading artists' impressions of future neighbouring developments.

The Estate Agents Authority called upon six agencies to caution their sales agents.

Its acting CEO, Anthony Wong Wai-fung, said: "Sales agents must furnish accurate information and cannot make false statements.

"If they are not clear about some information on the flats, they should make an effort to verify it. If they simply do not know, they should clearly tell consumers they don't know."

He said the authority might launch an investigation if it suspected agents of making false statements.

Mr Wong also reminded consumers to complain to the authority if they suspected wrongdoing.

Shih Wing-ching, chairman of Centaline Holdings, said agents might not have all the information about a property's surroundings.

He agreed agents had a duty to check for customers. "But there is so much an agent has to say. It is not practical to ask them to tell customers everything at one short time when they first come into contact. If customers show more interest, agents will go into detail."

Roy Tam Hoi-pong, president of Green Sense, welcomed the authority's action, but maintained that developers were the "prime culprits".

"The government should regulate what developers put in the brochures," he said.

The pricey sea view that doesn't last for long
8 June 2009
South China Morning Post

You see the artist's impression of the new development offering lovely sea views and hand over a fat cheque to secure the flat. It could be money down the drain.

A green group warns that sales brochures often carry misleading images that tempt buyers into spending hundred of thousands of dollars extra for a view that will not last for long.

Green Sense says people are usually kept in the dark about how the area around an estate will be developed. Artists' impressions usually skip unfavourable details.

"Buyers will have their dreams shattered once they move in," said president Roy Tam Hoi-pong.

A recent brochure for Lake Silver - a Sino Land estate in Ma On Shan - shows graphics of flats enjoying sea views and a backdrop of hills. But the view on most floors could be blocked by another estate, Henderson Land's Lok Wo Sha development.

Mr Tam said once Henderson reached a deal with the government on land premium, it could build at least 21 residential buildings.

According to a master layout plan submitted by the developer to the Town Planning Board, they will be between 10 and 32 floors. As the Lake Silver will reach 38 to 46 floors, most of its seas views would be blocked.

A Lake Silver flat on the 29th floor costs HK$3.57 million if facing the sea; HK$3.2 million if not. Sino Land did not respond to an inquiry by the South China Morning Post yesterday.

On the same estate, blocks furthest from the sea were usually sold first, Mr Tam said. This meant the developer could claim they had a sea view, although buildings built later would block the views.

Green Sense has demanded that developers include photographs of the surroundings of estates in their sales brochures, and that development plans within 200 metres of the estate should be revealed to buyers.

Lawmaker Alan Leong Kah-kit suggested the government build a three-dimensional model for the whole of Hong Kong, following Shanghai's lead, as a guide to density for potential buyers.

A spokesman for the Transport and Housing Bureau said sales brochures should include an approved outline zoning plan. The brochure for Lake Silver included such a plan, indicating development at Lok Wo Sha.

Lake Silver
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Lake Silver
By bextra from skyscrapers.cn :

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My parents live right behind this monster! The name is so deceiving lol.

Lake Silver by eddygo from dchome :

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Weekend sales fall 80pc
10 June 2009
South China Morning Post

Home sales in Hong Kong's primary property market dropped more than 80 per cent at the weekend as the release by developers of newly launched projects slowed.

About 90 deals were done, according to agents' estimates - down from 560 sales recorded a week earlier - as Sino Land and MTR Corp slowed down the sales of Lake Silver after more than 80 per cent of the 2,169 units in the project were sold in about 10 days.

Still, Lake Silver continued to top the weekend sales chart, with 32 units, followed by 19 sales at Swire Properties' Island Lodge in North Point.

Hongkong Land, which has relaunched its project Sail at Victoria in Kennedy Town in response to the improving market sentiment and increasing transactions, secured buyers for 10 units at the weekend, and Emerald Green, a development by New World Development in Yuen Long, sold 13 units.

Sales in the secondary market have also slowed.

Data collated by estate agency Ricacorp Properties from 50 large housing estates shows that secondary transactions dropped 4.33 per cent to 442 from 462 a week earlier. But average home prices edged up 0.3 per cent, sustaining a six-week rise in prices.

According to the Centa-City Leading Index, which tracks prices in the secondary market, values have increased 15.34 per cent this year.

Agents forecast that sales in the primary and secondary markets will remain relatively slow in coming weeks, because the rapid rise in transactions over the last two weeks had absorbed a significant amount of pent-up demand.

Home sales surge to 17-month high on low interest rates
4 July 2009
SCMP

Property sales rose 20.5 per cent in June, a 17-month high as low interest rates continued to encourage buyers to enter the market.

The Land Registry recorded 15,747 sale and purchase agreements for residential units and commercial properties last month, up from 13,067 in May.

Sales rose 32.6 per cent, compared with a year earlier.

The total sales volume rose 32.2 per cent to HK$58.2 billion in June, compared with May.

About 88 per cent of the total transactions were residential units. Home sales rose 17.1 per cent to 13,805 in June, while home sales value surged 26.1 per cent to HK$49.7 billion.

However, the sales value was 1.4 per cent lower than the amount for June last year, the Land Registry statistics showed.

Wong Leung-shing, an associate director of research at Centaline Property Agency, said that property sales hit a high since January last year due to the low interest and mortgage rates.

Transactions in the primary market were more active in the past two months as new projects such as Sino Land's Lake Silver in Wu Kai Sha were launched in May and recorded strong sales.

According to Sino Land, Lake Silver sold 1,786 units last month, with sales volume reaching HK$8.71 billion.

Property sales have continued to increase since February.

However, Mr Wong expects them to drop slightly this month due to the lack of any new residential projects.

"Residential sales will drop to about 10,000, unless Cheung Kong (Holdings) and MTR Corp launch their new project, Le Prestige in Tseung Kwan O, this month," he said.

The 2,096-unit project is waiting for pre-sale approval.

Alnwick Chan Chi-hing, an executive director at Knight Frank, is optimistic about the property market.

"Banks are unlikely to raise interest rates this year, so property sales will stay at a high level. Meanwhile, developers have begun to raise the prices of their new projects," Mr Chan said.

The firm expects property prices will continue to rise in the second half.

The benchmark Centa-City Index showed the average home price in Hong Kong has risen 20 per cent in the first half. The index monitors the transaction prices of flats in 86 key housing estates in Hong Kong every week.

沙田水泉澳擬建17幢公屋
2009年06月28日(日)
東方日報

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受停建居屋計劃影響而被迫腰斬的全港首個環保居屋計劃沙田水泉澳建屋計劃，有望「翻生」。由於近年公屋用地不足，政府最近重新將該幅地皮交回房屋委員會興建公屋，房署計劃興建十七幢樓高約四十層的公屋大廈，提供約一萬個公屋單位，容納三萬多人，屬房委會近年罕見的大型建屋計劃，估計公屋單位可於二○一四年至二○一六年分批落成。
水泉澳原擬建環保居屋，計劃後遭腰斬。（資料圖片）

沙田第五十二區水泉澳地皮佔地九公頃，目前是政府空置地皮。水泉澳建屋計劃曾是房屋委員會重頭發展項目，房委會原本打算發展為全港首個環保居屋，並進行公開設計比賽，不過，由於政府在○二年宣布停建及停售居屋，水泉澳建屋計劃被迫腰斬，當年房委會曾考慮將地皮改建公屋，但當時該區基礎設施，如渠道及交通網絡等未能支持公屋人口，最後房委會決定將地皮交回政府。由於當時水泉澳發展項目設計工作已接近完成，房委會因為中止該計劃損失七千萬元。

不過，隨着過去五年水泉澳附近交通網絡不斷發展，渠道亦於去年完成敷設，加上近年公屋用地供應不足，政府決定重新將水泉澳的地皮交回房委會建公屋。該公屋計劃除有一萬個公屋單位外，更設有九千方米的大型商場、停車場及交通交匯處等。
依山有高低 2016竣工

房署在屋邨設計上會顧及地盤特色、樓宇高度會參照鄰近環境，依山而建，高低有致，房署除會進行空氣流通影響評估外，更會設置通風廊，確保環境理想，不會出現屏風效應。建造工程預計二○一一年五月動工，分期於二○一四年初至二○一六年年中竣工。

身兼房委會委員的沙田區議會發展及房屋委員會副主席楊倩紅表示，由於近年多個區議會均反對於區內增建公屋，房署官員最近曾向區議會「摸底」，游說區議會支持此計劃，區議會初步反應正面，她相信計劃有望獲通過。

■記者譚美芳

Lake Silver by eddygo from dchome :

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Ah, yes...complexes like these are fine, but we're worried of how one single, slim 280m tower is going to create air flow problems.

Exactly ... it's one giant slab yet again. Hope its neighbours won't become like them as well.

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That's a Government set? Looks rather posh.

Ah, yes...complexes like these are fine, but we're worried of how one single, slim 280m tower is going to create air flow problems.

Yeh.... just because they're not reaching a particular height it means they are not a problem...

Looks fancy for a HOS complex.

新地HomeSquare擴建增舖
2009年07月24日(五)
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近年唔少發展商重新包裝商場增值，新地（00016）代理租務部總經理林家強同Vincent講，沙田新城市中央廣場正式改名做HomeSquare，目前嘅擴建工程預期出年完工，到時樓層會加多一層，去到五層，店舖數目由唔夠40間大增至近120間，租金收入料上升三成。

佢又話，HomeSquare暑期推廣費按年增兩成至100萬元，料刺激期內人流及生意有10%及12%升幅。另港鐵（00066）話，青衣城暑假人流按年升30%，生意則料升15%。

近年買家入市意欲強勁，令落成無耐嘅新進屋苑交投大升。港置研究部話，以過去五年批出入伙紙嘅項目為新進屋苑計算，共有56,291伙，而今年上半年新進屋苑二手註冊量有2,571宗，較去年下半年嘅1,483宗勁升73%，可以睇到新進屋苑係跑贏大市，成為買家追捧對象。該批新進屋苑中，以西灣河嘉亨灣嘅交投最活躍，期內錄192宗成交，比去年下半年大升1.4倍，其次係港島南貝沙灣第6期南灣及長沙灣宇晴軒，分別錄153宗及127宗二手買賣登記。

View of Ma On Shan - notice Lake Silver on the far left cluster of skyscrapers.
By fung23 from dchome :

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Lake Silver
By bextra from skyscrapers.cn :

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Source : http://www.pbase.com/benhung/

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Relax in your private palace by the sea
A joint venture with MTR offers a taste of the high life with access to the best of Hong Kong's natural beauty
26 August 2009
South China Morning Post

Lake Silver is at the heart of many of Hong Kong's most scenic spots. The area includes Starfish Bay conservation area, Hoi Ha Wan Marine Park, Plover Cove Reservoir, High Island Reservoir, five country parks and a plethora of beaches, nature trails and tree walks.

For status-seeking Hongkongers craving abodes that give them commanding heights, Silver Lake affords majestic views of the Tolo Channel, Tolo Harbour, Plover Cove Reservoir and the Pat Sin Leng mountain range. The panoramic vision of Sai Kung Peninsula and Ma On Shan Country Park complete the backdrop.

The project is a joint venture between Sino Land and the MTR. It is situated above Wu Kai Sha Station and is expected to be ready for occupation by November.

With seven residential towers, Lake Silver has 2,169 units, with flats ranging in size from 695 sqft to the typical 2,416 sqft.

Residents can choose between two-bedroom suites and four-bedroom plans, two of the four bedrooms featuring en-suite bathrooms. There is also a select number of special units such as Lake Palace, designed to contain a private swimming pool, Lake Villa, Lake Sky and the Lake Garden.

Such specially designed units are unique in the Wu Kai Sha area. All Lake Silver flats are designed with balconies and environmentally friendly working platforms for a stylishly enviable living environment.

Moreover, with the government's infrastructure projects, such as Route 8 and the Sha Tin to Central link, connectivity has never been better. Lake Silver is strategically linked to every part of Hong Kong and outlying areas.

One of Lake Silver's key selling points is its clubhouse, entitled the Palace by the Sea, which accounts for more than 360,000 sqft of indoor and landscaped areas.

Combined with the iconic features of the Sino Group's luxury residential properties - the Faberge-inspired banquet room at Mount Beacon, the waterfront edgeless swimming pool at One SilverSea in West Kowloon, the classic European architectural design and modern aesthetics of The Palazzo in Sha Tin - Lake Silver sets lofty new standards for clubhouse design, both in terms of elegance and comfort.

The clubhouse has nearly 80 leisure facilities, with iconic features such as the Sapphire Faberge Banquet and the Ruby Faberge Banquet.

Using lots of glass to create the effect of an opal-shaped sapphire floating on the lake, residents can lounge around for an entire day should they so choose, leisurely enjoying their breakfast and afternoon tea.

The Ruby Faberge Banquet is conceptually the same as the Sapphire Faberge Banquet, and it is a terrific place to chill luxuriously and to host parties and events.

Not to be outdone, Lake Sapphire also boasts a 50-metre outdoor swimming pool with a design based on European lakes.

It also connects with a 25-metre indoor swimming pool, all of which, coupled with a glass top, creates a resort-style atmosphere.

Another worthwhile feature of Lake Silver's Palace by the Sea clubhouse is the Island of Diamond, the residents' private entertainment area that contains three directors' houses, Villa Ocean Dream, Villa Excelsior and Villa Centenary - two of which have been designed with outdoor swimming pools where residents can hold gatherings.

The Lobby of Pearl is strikingly beautiful - it's a lobby shuttle lift that directly connects to the MTR at Wu Kai Sha Station. Using lots of glass, it almost seems like a shiny jewel box floating in the lake.

The Spa Paradise has more than 12,000 sqft for residents to unwind in. The Spa Paradise features family spa suites and private spa suites.

The former section is just like a spa centre, equipped with an individual spa, outdoor spa, bathrooms and changing room. One can enjoy a spa at home any time.

Moreover, the landscaped gardens distributed throughout the project, such as the Sunrise Garden, Garden of Emerald and Garden of Love, are truly sites to behold, with most commanding views of the clubhouse.

For those contemplating upgrading their domicile to luxurious living amid the tranquillity of Wu Kai Sha and the Sai Kung area, visit Lake Silver's show flat at the Tsim Sha Tsui Centre on Salisbury Road in Kowloon. Your family will be glad you did as this address will soon be one sought after by Hong Kong's A-list community.

Source : http://www.pbase.com/specialteam

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Ma On Shan Aerial

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TV stations rapped over misleading Sino Land ad
3 November 2009
South China Morning Post

A television commercial for a Sino Land residential project that featured fictitious and computer-generated scenery of forests and lakes has been criticised as misleading by the broadcasting watchdog.

ATV, TVB, Cable TV and Now TV, which ran the commercial in late May, were "advised" to observe the code of practice on television advertising standards more closely.

Public concerns about misleading property sales brochures and TV commercials arose after complaints that buyers of flats were often fooled by the artists' impressions of new developments offering scenery and views that were too good to be true.

The Broadcasting Authority launched an investigation into the commercial on Lake Silver, a Sino Land luxury project in Ma On Shan, after receiving a complaint against the TV commercial. There was a one-minute Chinese-language version of the advert and two two-minute versions - one with Chinese subtitles and another with English subtitles.

The ad featured artistic presentation and computer-aided graphics. There were shots of forests and lakes, and a picture showing the property in a bay area surrounded by bushes.

An advertisement could be imaginative in its presentation, but essential information about a property should be truthful and should not be misleading, the authority said in a press release.

It ruled that the TV stations had not exercised reasonable diligence in ascertaining the truthfulness of the advertisement, as they should have noted from the information supplied by the developer that another development in the vicinity was not displayed in the end shot of the advert.

Sino Land had already been criticised for misleading buyers in the printed brochure for Lake Silver, which showed graphics of flats enjoying sea views and a backdrop of hills, while the view from most floors would probably be blocked by Henderson Land's Lok Wo Sha development when completed.

Green Sense president Roy Tam Hoi-pong said: "The Broadcasting Authority's ruling is timely and sends a clear signal that developers must be truthful in their commercials."

Sino Land said it would take note of the authority's ruling. A TVB spokeswoman said it would take more care in future. ATV did not respond to an inquiry.

In August, the Real Estate Developers Association announced guidelines, which are not legally binding, after criticism that sales-brochure pictures and details were misleading.

Push to mine heritage of Ma On Shan landscape
27 October 2009
SCMP

Miners who toiled on the slopes of Ma On Shan in decades past left behind a landscape of broken stones, disused mine sites and decaying churches and schools - with the potential to become a mining heritage park, a visiting group of experts said.

The visitors, mainland geology experts and local architects, found the architecture, landscape and story of the industry itself were worth preserving in a park. First, they suggested the Antiquities and Monuments Office list the mines and buildings as monuments and begin repairs to improve their poor condition.

The comments came after the experts visited the site last week at the invitation of Sha Tin district councilor Yeung Cheung-li. He has been trying, so far without success, to persuade the government to include Ma On Shan in the Hong Kong Geopark.

According to Wong Tze-kwong, 60, a miner's son, as many as 5,000 iron ore miners and their families once lived in Ma On Shan.

Li Jiangfeng, vice-dean of the faculty of earth resources at the China University of Geosciences in Wuhan , Hubei province , said the mining site was still in good shape but added: "Hong Kong has yet to pay serious attention to its mining history. It may be a good time now for the government to seriously think about how to preserve it."

Standing beside an opencast mine area on top of the hill, Li said: "Strictly speaking, the geological elements of this opencast mine site are not very valuable ... but its history adds to its intangible value."

He said the site could be made into an attractive place for educating the public about the consequences of exploitating natural resources thoughtlessly - mining had left much of the terrain treeless and shattered by blasting.

To carry raw ore from the mine to the processing plant, the city's first electric tram was introduced at the site. No less a dignitary than the commissioner for labour made an appearance and cut the ribbon at the opening ceremony.

David Li Xiao-chi, a retired mainlander with a doctorate in geology, suggested that two mines in a different part of Ma On Shan, named 110ML and 240ML, and an ore concentration plant be turned into an outdoor exhibition to showcase local mining technology.

Henry Lo Ka-yu, who researches Chinese architectural heritage at Chinese University, said buildings on the hill, such as churches and schools for miners and their families, should be preserved for their high architectural value.

St Joseph's Primary School, situated near the squatter's hut area, was one of the few remaining examples of rammed-earth architecture in Hong Kong, he said. The method involves compressing earth in wooden frames to make walls.

"This is a rare building for Hong Kong. The government needs to do something to protect it before it collapses," he said.

Yeung said the school and Yan Kwong Tong Lutheran School, which have a rundown church on their grounds, could be modified into museums to tell the stories of miners' lives.

The group is drawing up a report on the feasibility of turning Ma On Shan into a mine heritage park, which they will give to the government in November.

Meanwhile, on a field trip to High Island in Sai Kung yesterday, Yeung said the government should seek Unesco recognition for the massive hexagonal rock columns in the eastern parts of the city. A Unesco listing would be a step forward for the distinct geological feature of about 150 square metres, which was listed this month as China's 141st national geopark, by the China Ministry of Land and Resources.

Lake Silver Commercial

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SHKP's Peak One luxury project on Sha Tin Peak completed and ready for occupancy
It's Starry Up Here performance to offer exclusive first preview on premium building quality and grandeur of new-generation luxury residence set new records
SHKP Press Release
15 January 2010

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The first phase of Sun Hung Kai Properties (SHKP) Peak One low-density luxury residence atop Tung Lo Wan Shan in Sha Tin is completed and owners are in the process of taking possession. SHKP is spending more than a million on a series of "It's Starry Up Here" performances from 15 to 17 January (Friday to Sunday) to showcase the new development. Musicians, dancers and singers will be scheduled to perform to a backdrop of glittering lights and music for the enjoyment of owners, the media and SHKP Club members. Guests will be invited to high-level unit to enjoy panoramic views and visit the six-star Club One private clubhouse with its full facilities and the HK$100 million Sky One Garden in an exclusive preview of Peak One and its lush surroundings.

SHKP "builds homes with heart", striving to offer the finest properties. The new-generation Peak One features lavish details meticulously crafted to offer the ultimate in luxury living to occupants. Sun Hung Kai Real Estate Agency Executive Director Victor Lui said: "The first phase, Sky One second phase and soon-to-be-launched Peak House third phase are the best new-generation luxury residences built by SHKP from the building material used and handover standard to environmental greening and clubhouse facilities. Everything is of the highest caliber and grandest scale of luxury in Hong Kong. This is why nearly all units in the first two phases sold out quickly, reflecting market confidence in the quality of SHKP developments."

Sun Hung Kai Real Estate Agency Senior Sales and Marketing Manager Allen Woo said: "We will stage the It's Starry Up Here performances onsite. The performers include Swedish lighting designer Stephan Reed, who does stage lighting for many international concerts, Canadian dancers and top Hong Kong musicians. Exciting performances will combine dance, music and lighting effects of every colour to celebrate the most prestigious luxury residence on Sha Tin Peak."

Setting the benchmark for luxury residences

Peak One set several records, such as being the first low-density luxury apartment in Hong Kong to adopt stone cladding on the external walls to echo the detached houses on the peak and using construction methods and materials comparable to Severn 8. Stone architecture is another highlight of Peak One with 11,000 tons of first-class materials imported from Italy, Portugal and more. This complex construction method costs seven times more than the average residential project and the building techniques are very complicated. Both the value and amount of materials used set records in the development of local high-end property.

SHKP spent HK$100 million integrating green aesthetics in the property so occupants can experience the benefits of healthy living and relaxation in natural surroundings. This includes building the Sky One Garden covering 180,000 square feet and introducing advanced vertical greening technology to grow plants in a vertical garden of close to 12,000 square feet. There are over 10,000 plants. There is an exclusive Maestro Garden covering 20,000 square feet and featuring foliage blooming in a kaleidoscope of colours through the year to celebrate the changing seasons. The scale of this green zone is expected to set another record for high-end residences. The fact that this single project has created numerous records is the reason why Peak One continues to be the market's brightest focal point since its launch and a new benchmark for luxury property in the district.

Expert inspection and handover

SHKP is renowned for premium project quality. It was the first property developer to establish a property liaison team with professionals on hand to oversee the design and construction and formulate stringent handover standards for the quality of facilities and construction. They are also responsible for following up on handover matters and fine-tuning work following occupancy to ensure a high level of quality in every unit and satisfaction of buyers.

SHKP was also the first developer to offer a two-year guarantee to perform repairs within the first two years of occupancy for new residential units as part of its comprehensive after-sale service and assurance to buyers. It also provides an exceptionally long ten-day inspection period which allows owners ample time to inspect their units and submit requests for fine-tuning, with work to be completed as quickly as possible to let owners move in with greater peace of mind.

Prior to the owner's inspection, each unit is subject to five or six rounds of detailed inspection by SHKP's construction and monitoring departments. They look at over 100 items in every unit from windows and flooring to walls, bathtubs, electrical wiring and door joints. Every window in new units is tested twice to ensure it is watertight to prevent leakage problems.

Owners are guided by experienced, meticulous handover experts throughout the handover process. These professionals remind owners of areas requiring their special attention, help with details and answer inquiries. They follow up on each case conscientiously to provide comprehensive and attentive service.

SHKP has also spent HK$3million on handover packs and house-warming gifts for owners so they can look forward to moving into their new homes with excitement.

About Peak One

Peak One is atop Tung Lo Wan Shan in Sha Tin. It is being developed in three phases. It is primarily a low-density development to offer luxury living with a high level of privacy. The developer has spent HK$400 million to build a new road that connects directly to Route 8. The journey to Central is only 15 minutes and it takes only 11 minutes to reach ICC at Kowloon Station and Tsim Sha Tsui. Peak One is the only residential project on the road and its many other features make it comparable to luxury properties on the Peak.

Hill Paramount launch to test luxury market
8 March 2010
The Standard

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Henderson Land (0012) will sell the first 30 homes in upmarket Hill Paramount tomorrow at the earliest.

The developer is likely to announce the prices for these units today. Prices for the Sha Tin development will start from HK$9,280 per square foot. A home on the lowermost floor - measuring 1,456 square feet - will cost HK$13.5 million, said sales general manager Thomas Lam Tat-man.

Middle-floor apartments in Block 1 will average HK$11,500 psf, between 5 and 7 percent higher than Block 2.

Henderson has not reserved any apartments, though more than 10 buyers offered to buy homes, he said. More than 15,000 prospective buyers visited the showrooms over the weekend.

Henderson has started a mainland roadshow and served over 10 groups of prospective mainland buyers

Meanwhile, the builder sold two homes at the 21-unit Park Rise in Mid- Levels for around HK$17,400 psf and HK$19,000 psf. The single-building project is a private project by chairman Lee Shau-kee.

Green Lodge in Yuen Long will hit the market at the end of this month for HK$6,000 psf, while phase three of The Beverly Hills in Tai Po is targeting more than HK$10,000 psf next month.

Elsewhere, Sun Hung Kai Properties (0016) unloaded 50 homes since relaunching Aria in Kowloon Peak on Friday. A 1,780-sq-ft apartment was sold for HK$19.6 million, or HK$11,000 psf, said Midland Realty sales director Angela Kwok.

SHKP's Yoho Midtown in Yuen Long saw 12 transactions over the weekend. A mainland buyer spent HK$13 million on two homes.

Kerry Properties (0683) sold eight homes at Primrose Hill in Tai Wo Hau over the weekend.Sino Land's (0083) The Dynasty, Vision City in Tsuen Wan and Chinachem Group's The Perfetto in Tsing Lung Tau all recorded sales or reservations.

Price over Hill at Henderson
The Standard
Friday, March 12, 2010

Henderson Land (0012) will sell the first 30 units at Hill Paramount for up to HK$12,777 per square foot tomorrow at the earliest.

Sales general manager Thomas Lam Tat-man said the lowest price will be HK$9,280, for an average of HK$11,213 psf. Henderson will raise prices by 7 to 8 percent for the second batch.

A local veteran investor has offered to buy three floors for HK$200 million, Lam said. He expects investors to account for more than 10 percent of buyers.

Lam said sales negotiations for special units are going well. Two to three buyers are willing to pay HK$30,000 psf for some units. The largest is expected to fetch up to HK$40,000 psf.

Around six buyers are seeking duplex or semi-duplex homes, which Henderson aims to sell at around HK$25,000 psf and HK$20,000 psf, respectively.

Agents said the developer has already started accepting home reservations.

Meanwhile, Kerry Properties (0683) will sell six studio flats at Primrose Hill in Tai Wo Hau tonight.

The 280 sq ft apartments will cost from HK$1.7 million, or HK$6,100 psf, said executive director Chu Ip-pui.

Since the Lunar New Year, Kerry has sold almost 50 flats in this project for up to HK$7,700 psf.

It has reaped HK$1.8 billion from selling around 410 homes in Primrose Hill since the project was launched.

Also, the seven combined or duplex units at its Sai Ying Pun project Island Crest may fetch up to HK$18,000 psf.

Kerry has sold 80 percent of homes in Block 2 for a total of HK$2 billion.

Land reclamation outside harbour put on agenda
3 August 2010
SCMP

The option of resuming reclamation outside Victoria Harbour to increase land supply for flats has been raised by some officials during recent discussions among the government's top tier.

It is likely that Chief Executive Donald Tsang Yam-kuen will mention the need to start a public discussion on land reclamation outside the harbour when he gives an account of the results of the consultation on subsidising home ownership in his policy address in October.

Reclamation along the harbour coastline is banned under the Protection of the Harbour Ordinance, which was passed by the Legislative Council in 1997.

An official familiar with the talks said there was a need to start public discussion on whether it was necessary to create extra space for new flats and other public facilities by reclaiming land outside the harbour.

"Possible sites for reclamation, such as Tsing Yi and coastal areas along Tolo Harbour, including Ma On Shan, are worth exploring," the official said.

Another official said some senior officials raised the idea at recent meetings on housing issues.

"When land shortage was mentioned as one of the problems facing the city, naturally some officials came up with the idea of exploring the option of reclaiming land outside Victoria Harbour. But we can't say a concrete policy direction has been decided at this stage," the official said.

In May, Tsang announced a public consultation on whether the government should subsidise people to become homeowners, and if so, who should be subsidised and what kind of method should be adopted.

Tsang will comment on the subject in his policy address if the government has further ideas on the issue after the consultation.

The chief executive promised last year that the government would adopt "new thinking" to tackle the land-shortage problem to enable the development of six new economic "pillars".

A person familiar with the government's position said the administration favoured providing subsidised housing by private developers rather than direct government participation in building Home Ownership Scheme flats.

"Even if the government gives the green light to provision of subsidised housing, the supply of flats would only be a few thousand per year so as to avoid adverse impact on property market," the person said, adding that the timing for starting the subsidised housing scheme had to be discussed in the months ahead.

The chairman of Tai Po District Council, Cheung Hok-ming, welcomed the idea of reclaiming land for subsidised housing, as it would introduce a younger working population in the ageing district. He said Tai Po's population had fallen from more than 310,000 to about 290,000 over the past 10 years.

"The idea is worth more in-depth public discussion," Cheung said. "Few sites in the New Territories are suitable for new developments, as they are either ecologically sensitive or have been designated for community facilities such as hospitals."

Sha Tin District Council chairman Wai Kwok-hung said the council would support the idea if the reclaimed sites were developed to include community facilities such as libraries and sport grounds, adding that transport infrastructure should be in place to cater for the growing population.

Kwai Tsing District Council chairman Tang Kwok-kong feared reclamation in Tsing Yi could affect the navigation channels to Tsuen Wan. He said the district already has a large proportion of public housing.

"Public flats already account for over 70 per cent of housing in Tsing Yi, which means the district has a high rate of unemployment and domestic violence. We need a more balanced population," Tang said.

The president of the Hong Kong Institute of Planners, Tam Po-yiu, said he was not opposed to increasing the land supply through reclamation outside Victoria Harbour but warned of the political and public resistance in pushing through reclamation projects.

"People in Ma On Shan may want more recreational uses on new sites and the government may have to relocate the oil depot in Tsing Yi," Tam said. "Reclaimed land could bring in new synergy to old districts but the government will need a clear housing policy to support the move."

He said the government should make the best use of existing land before considering reclamation. "Sites in Tuen Mun and Lau Fau Shan have yet to be developed. There are also old sites that can be redeveloped."

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By OPT from a Hong Kong photography forum :

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Sales sizzle as homes giants rake in $11.6b
4 October 2010
The Standard

Oceanaire 天宇海

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Hong Kong's two biggest developers sold a combined HK$11.6 billion worth of homes over the National Day weekend.

After unloading 115 more homes at Oceanaire within an hour yesterday, Cheung Kong (Holdings) (0001) has sold all 1,143 homes at the Ma On Shan project, four days into its launch.

At an average of HK$6,246 per square foot, the homes fetched HK$7.6 billion, Cheung Kong Real Estate director Francis Wong See- chung said. He said only about five buyers were from the mainland, while up to 60 percent were from Sha Tin district.

Meanwhile, purchasers have snapped up nearly all 132 villas at Sun Hung Kai Properties' (0016) Valais I in Sheung Shui, shelling out about HK$4 billion.

Negotiations for the remaining handful of show houses are expected to close in a day or two, said Sun Hung Kai Real Estate Agency executive director Victor Lui Ting.

``We originally intended to launch Valais II next year,'' Lui said. ``But with so many disappointed buyers, we'll launch a few units sized over 4,000 square feet [today] at a 10 percent price increase.''

Lui said the new phase's average price will exceed HK$10,000 psf.

He said SHKP's Shenzhen sales office helped attract mainlanders, who comprised about 30 percent of all buyers.

Centaline Property Agency managing director Louis Chan Wing- kit cited pent-up demand amid a lack of new launches for the quick take-up, and said the two projects were aided by US dollar weakness making their prices attractive.

Elsewhere, home sales during the long weekend were equally vibrant, according to realtors. Chinachem Group sold more than 100 flats at Billionaire Royale in Kowloon City, with one buyer spending nearly HK$40 million on four homes.

In Yuen Long, SHKP sold 13 homes at Yoho Midtown, with the largest deal involving three apartments worth HK$24 million.

Nan Fung released the price lists for 30 more homes at redevelopment project Queen's Cube in Wan Chai on Saturday. Two 578-sq-ft flats of the 72 available homes on Wednesday topped HK$10 million, or about HK$17,400 psf each.

On the secondary front, Chan said sales have been picking up again, as 10 major developments recorded a total of 47 deals over three days.

Saturday and Sunday sales totaled 34, up 6.3 percent from last week.

Sales sizzle as homes giants rake in $11.6b
4 October 2010
The Standard

Oceanaire 天宇海

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Hong Kong's two biggest developers sold a combined HK$11.6 billion worth of homes over the National Day weekend.

After unloading 115 more homes at Oceanaire within an hour yesterday, Cheung Kong (Holdings) (0001) has sold all 1,143 homes at the Ma On Shan project, four days into its launch.

At an average of HK$6,246 per square foot, the homes fetched HK$7.6 billion, Cheung Kong Real Estate director Francis Wong See- chung said. He said only about five buyers were from the mainland, while up to 60 percent were from Sha Tin district.

Meanwhile, purchasers have snapped up nearly all 132 villas at Sun Hung Kai Properties' (0016) Valais I in Sheung Shui, shelling out about HK$4 billion.

Negotiations for the remaining handful of show houses are expected to close in a day or two, said Sun Hung Kai Real Estate Agency executive director Victor Lui Ting.

``We originally intended to launch Valais II next year,'' Lui said. ``But with so many disappointed buyers, we'll launch a few units sized over 4,000 square feet [today] at a 10 percent price increase.''

Lui said the new phase's average price will exceed HK$10,000 psf.

He said SHKP's Shenzhen sales office helped attract mainlanders, who comprised about 30 percent of all buyers.

Centaline Property Agency managing director Louis Chan Wing- kit cited pent-up demand amid a lack of new launches for the quick take-up, and said the two projects were aided by US dollar weakness making their prices attractive.

Elsewhere, home sales during the long weekend were equally vibrant, according to realtors. Chinachem Group sold more than 100 flats at Billionaire Royale in Kowloon City, with one buyer spending nearly HK$40 million on four homes.

In Yuen Long, SHKP sold 13 homes at Yoho Midtown, with the largest deal involving three apartments worth HK$24 million.

Nan Fung released the price lists for 30 more homes at redevelopment project Queen's Cube in Wan Chai on Saturday. Two 578-sq-ft flats of the 72 available homes on Wednesday topped HK$10 million, or about HK$17,400 psf each.

On the secondary front, Chan said sales have been picking up again, as 10 major developments recorded a total of 47 deals over three days.

Saturday and Sunday sales totaled 34, up 6.3 percent from last week.

Start date for cross-harbour rail line set; costs up 60pc
30 October 2010
SCMP

The last of the five big railway projects of this decade is finally to get under way - two years behind schedule and almost 60 per cent over budget, government officials said yesterday.

The Sha Tin-Central link - the city's fourth cross-harbour railway - will connect the people of East Kowloon and the Northeast New Territories to Hong Kong Island. Work on the line will begin in 2012 at an estimated cost of more than HK$60 billion, rather than the HK$38.1 billion projected in 2007.

That would make the 17-kilometre line almost as expensive as the HK$66.9 billion, 26-kilometre high-speed railway from Hong Kong to Guangzhou. And the cost could yet go higher. Officials admit the new budget is not final.

Work on the line will come as construction of at least six other infrastructure projects peaks. They include several rail projects - the MTR's West Island and South Island lines, Kwun Tong Line extension and the Guangzhou-Shenzhen-Hong Kong express link - which are due for completion in 2014 and 2015.

The Transport and Housing Bureau blamed the surge in costs on factors that include a 30 per cent rise in building materials prices over the past two years; the addition of a station at Hin Keng just north of the Lion Rock Tunnel; a revised alignment; and a bigger pedestrian network to link the line with Tsz Wan Shan, where a station cannot be built.

Big traffic diversions will also add to the costs. Severe disruption is expected, especially in Ma Tau Wai Road and To Kwa Wan - where roads will be dug up to build a rail tunnel.

Thomas Ho On-Sing, vice-president of the Hong Kong Construction Association, said while the line's cost could rise further, it would provide several years of steady employment.

The section of the new line between Tai Wai and Hung Hom was to have been finished by 2015 but is now expected to be ready in 2017. The cross-harbour section between Hung Hom and Admiralty was to have been finished by 2019, but it is now unclear when it will be ready.

The bureau said different companies would work on parts of the cross-harbour section simultaneously, since the work would overlap with that on other projects in the area - reclamation for a section of the Central-Wan Chai bypass, construction of the bypass, the South Island Line and the Kwun Tong Line extension.

Albert Lai Kwong-tak of the Conservancy Association said the government should open the entire line in one go, but that looked increasingly unlikely.

"The strategic function of that link is to provide direct cross-harbour access to those from East Kowloon and the Northeast New Territories. If they all have to stop at Hung Hom and switch to cross-harbour buses, imagine its impact on road traffic," he said.

MTR grilling on rail-link blowout
7 December 2010
SCMP

Lawmakers demanded the government provide better justification for the sharp increase in construction cost of the cross-harbour Sha Tin-Central rail link and asked why the MTR Corp was spared from shouldering any of the extra expense.

With the cost jumping at least 60 per cent over the original budget estimate of HK$38.2 billion, made in 2007, lawmakers yesterday asked why the corporation was not required to pay more when the link would certainly boost the network's patronage and revenue.

Undersecretary for Transport and Housing Yau Shing-mu said that because the HK$60 billion project was not financially viable, the government adopted a service-concession funding model. This meant the MTR Corp would manage and operate the link for a fee but would not pay for its construction.

Legislator Raymond Ho Chung-tai pointed out that some of the work could overlap with other MTR projects.

"The link's interchange stations in Admiralty and Diamond Hill, for example, overlap with the MTR's existing network, so who will be responsible for which part of the expenses?"

Admiralty will become a converging point for four lines, including the Sha Tin-Central link and the South Island line. While the former will be government-owned, the latter is owned and built by the MTR Corp.

Chow Chun-wah, principal assistant secretary for transport and housing, said the cost would be shared according to a projection of traffic brought to the station by each line.

"We made the projection based on the scale of the routes and the station design. We believe the ratio of patronage generated by the Sha Tin-Central link to the South Island line would be seven to three, so we will pay according to this scale."

That projection amounts to HK$2.3 billion, just a fraction of HK$12 billion in additional work required for the link, including reconstruction of the International Mail Centre in Hung Hom, Harcourt Garden, an indoor game hall in Wan Chai and a number of other facilities. The increasing cost of materials is another reason for the growing budget.

Yau said much of the extra work came to light after repeated adjustment to the plans, and costs could increase further when construction of the 17-kilometre line begins in 2012.

Sha Tin Marriage Registry to refurbish marriage halls
Monday, February 14, 2011
Government Press Release

The Immigration Department today (February 14) announced that Sha Tin Marriage Registry's two marriage halls would be refurbished this year, and will be closed alternately between June 1 and October 29, 2011.

"During this period, the Registry will continue to provide normal services, with one of the two marriage halls always open for marriage celebration. Apart from Sha Tin Marriage Registry, marrying couples may also use four other marriage registries, namely Tsim Sha Tsui Marriage Registry, City Hall Marriage Registry, Cotton Tree Drive Marriage Registry or Tuen Mun Marriage Registry," a spokesman for the department said.

For enquiries, please visit the Immigration Department website, www.immd.gov.hk, or call the department's hotline 2824 6111 or fax to 2877 7711.

Gazettal of Amendments to Shatin to Central Link
Friday, July 15, 2011
Government Press Release

The Government published in the Gazette today (July 15) amendments to some proposed works of the railway scheme for the Shatin to Central Link (SCL) under section 7 of the Railways Ordinance.

The SCL scheme gazetted in November 2010 includes a 17-kilometre-long railway with a total of 10 stations at Tai Wai, Hin Keng, Diamond Hill, Kai Tak, To Kwa Wan, Ma Tau Wai, Ho Man Tin, Hung Hom, northern Wan Chai and Admiralty.

The railway will run mostly underground and will consist of two parts, namely the Tai Wai to Hung Hom Section, which will be an extension of the existing Ma On Shan Line from Tai Wai to the West Rail Line via East Kowloon, and the Hung Hom to Admiralty Section, which will be an extension of the existing East Rail Line from Hung Hom across the harbour to Hong Kong Island.

Since the gazetting of the SCL scheme, the Government and the MTR Corporation Limited (MTRCL) have been keeping in close contact with the respective District Councils and major stakeholders to listen to their views.

A Government spokesman said, "At present, we are handling the views from the public on the railway scheme. As the SCL passes through a number of districts in the New Territories, Kowloon and Hong Kong Island and many densely populated areas, it involves a variety of concerns in different districts. Moreover, the construction works are complex and there are a lot of issues to be taken care of.

"With an aim to strive to commence the construction works in 2012, we have decided to amend the SCL scheme in two stages.

"The proposed amendments gazetted today are mainly related to the technical aspect to accommodate a number of changes and improvement measures proposed by the MTRCL, which has been carrying out the detailed design and in light of the ground investigation obtained.

"Currently, the MTRCL has been striving to optimise the design of the SCL project. We need more time to discuss with the public on their concerns and views, and investigate the feasibility of making appropriate amendments in response to the suggestions made by the public. We envisage that the discussion and study will be completed within this year and another batch of amendments will be announced before the end of 2011.

"By amending the railway scheme in two stages, we can handle the necessary changes of the scheme in a more effective manner that enables us to achieve the target for completing the statutory consultation process within the first half of 2012."

Under the Railways Ordinance, members of the public have the right to lodge objections to the amendments to the SCL scheme gazetted today from now until September 14, 2011. Any person who has a compensatable interest can claim compensation under the provisions of the Ordinance.

The amendments to the scheme and the relevant plans are available for public inspection at the Public Enquiry Service Centres of the Central and Western, Wan Chai, Eastern, Southern, Yau Tsim Mong, Kowloon City, Wong Tai Sin, Kwun Tong, Sai Kung, Sha Tin, Tai Po and North District offices, and the District Lands Offices of Hong Kong East, Hong Kong West and South, Kowloon East, Kowloon West, Sha Tin, Tai Po, North, and Sai Kung, during office hours.

A copy of the Amendments to Scheme and the Amendment Plans may be purchased from the Railway Development Office of the Highways Department. Enquiries on purchasing details can be made to the Highways Department at telephone number 2762 3976. The electronic version of the Amendments to Scheme and the Amendment Plans are viewable on the Highways Department's website (www.hyd.gov.hk/eng/major/road/rail/index.htm).

Further enquiries regarding the amendments to the scheme can be addressed to the Highways Department at telephone number 2762 4021 or to the Transport and Housing Bureau at telephone number 2189 2132 during office hours.

Crane man saved from sky trap
The Standard
Tuesday, October 11, 2011

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An operator spent a terrifying 30 minutes stranded 30 meters above ground yesterday when the 60-meter arm of a crane he was working bent and crashed into the control panel.

The 57-year-old worker, surnamed Wong, was not hurt but was unable to descend as the crane ladder was damaged.

Wong called his colleagues over the walkie-talkie and they immediately reported to the police.

Firemen were sent to the construction site at Lok Wo Shan in Ma On Shan and firemen retrieved Wong from the cabin using an extended ladder and his body harness.

Wong was sent to the Prince of Wales Hospital, where he was treated for shock and discharged.

The site is part of a property development by Henderson Land Development. Wong told officers he was instructed to control the tower crane lifting metal rods for the foundation using a 60-meter-long jack.

He said the weight of the rods did not exceed the crane's loading capacity.

Representatives from the Electrical and Mechanical Services Department and Labour Department have been asked to investigate.

A spokeswoman for Henderson Land said the crane was leased by the company six months ago for the construction. It made a detailed inspection before it was used at the site.

The spokeswoman said the construction will be suspended until the investigation is completed and the site given the all-clear by relevant government bureaus.

DSD awards consultancy agreement on proposed relocation of Sha Tin Sewage Treatment Works to caverns
Wednesday, May 30, 2012
Government Press Release

The Drainage Services Department (DSD) today (May 30) signed a $27.8 million consultancy agreement with AECOM Asia Company Limited for a feasibility study on the relocation of Sha Tin Sewage Treatment Works to caverns.

Speaking after the signing ceremony, the Director of Drainage Services, Mr Chan Chi-chiu said, "The Sha Tin Sewage Treatment Works are the largest secondary sewage treatment works in Hong Kong. Their relocation to caverns would release the existing site of about 28 hectares for housing and other purposes that would enhance our living quality. It is an innovative approach in line with Hong Kong's long-term social and economic development.

"The Stanley Sewage Treatment Works were the first sewage treatment works built in caverns in Hong Kong and they have been in operation since 1995. Riding on the department's experience gained in the construction and operation of Stanley Sewage Treatment Works, we are confident that the relocation of Sha Tin Sewage Treatment Works to caverns will bring extended benefits to the community and environment of Sha Tin," Mr Chan said.

The scope of the study comprises preliminary technical and impact assessments, ground investigation, preparation of an outline design for the engineering works, formulation of implementation strategies and programmes, and public engagement. The study will review the suitability of Nui Po Shan of A Kung Kok as the cavern site. It will also involve a planning review of the future land use of the existing Sha Tin Sewage Treatment Works site for the purpose of establishing a business case for the relocation project. The whole study is expected to take about 24 months to complete.

Please click on www.dsd.gov.hk/EN/Our_Projects/4379DS.html for information about the study.

Big players keep appetite for land
The Standard
Thursday, November 08, 2012

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Lok Wo Sha

Two government sites received tenders above their estimated prices yesterday despite the recent property cooling measures, allowing the government to tap HK$5 billion.

The robust tenders also signaled the developers' full confidence in the local residential market.

Cheung Kong Holdings (0001) outbid eight others to acquire the Lok Wo Sha residential plot in Ma On Shan for HK$2.901 billion - above market estimates of HK$2.53 billion.

The 155,002-square-foot site has a gross floor area of about 562,171 sq ft, costing HK$5,160 per square foot. It is restricted to holding 440-463 flats. "The price is reasonable given that all units have seaviews and the site is near Wu Kai Sha MTR," said CKH executive director Grace Woo Chia-ching.

Meanwhile, Sun Hung Kai Properties (0016) outbid six others to win the Tseung Kwan O Area 66D2 plot for HK$2.55 billion - close to the estimated price HK$2.37 billion.

Having a GFA of 563,377 sq ft, the 160,965 sq ft site costs HK$4,517 psf. A total of 600 to 630 units can be built.

Victor Lui Ting, SHKP deputy managing director and executive director, said a total of HK$6 billion will be invested in the development.

SHKP is the largest landlord in Area 66, owning four of the seven plots.

Earlier, surveyors had lowered the estimate for the Area 66 plot by as much as 15 percent after property curbs were introduced on October 26.

There were fears that the tender could be withdrawn due to possible poor market response.

Before the announcement of the tender result yesterday, Centaline had lowered the estimated value of another Tseung Kwan O plot, Area 68A1, by 11 percent to HK$1.8 billion.

Tender submission for the plot commences tomorrow.

The US Federal Reserve's third round of quantitative easing has kept developers optimistic despite the curbs, said Lawrence Poon Wing-cheung, housing panel chairman at the Hong Kong Institute of Surveyors.

Developers believe the market may soon come to terms with the recent cooling measures, he said.