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Old April 29th, 2013, 12:47 AM   #1
Victhor
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Skyscraper crisis in Hong Kong?

Few years ago Hong Kong was a skyscraper-booming city, it seemed that it was going to have the best skyline in the future and New York will never catch up with HK again, but now, there doesn't seem to be any important project, or very few secondary projects, so, what's going on there? is there a financial crisis? has HK reached his limit?, will HK be a skyscraper-booming city again some day?
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Old April 29th, 2013, 12:56 AM   #2
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Why should this be considered a skyscraper crisis? Cities build out of need and demand. Hong Kong built incredibly in the last decade. You expect the city to keep this up every decade?
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Old April 29th, 2013, 01:06 AM   #3
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Hong kong is like an American city, it builds for demand, unlike the rest of China. You will see steady growth, but no more booms
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Old April 29th, 2013, 06:32 AM   #4
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Still, would love to see a new supertall erected in the next few years..hopefully.
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Old April 29th, 2013, 06:57 AM   #5
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Quote:
Originally Posted by Victhor View Post
Few years ago Hong Kong was a skyscraper-booming city, it seemed that it was going to have the best skyline in the future and New York will never catch up with HK again, but now, there doesn't seem to be any important project, or very few secondary projects, so, what's going on there? is there a financial crisis? has HK reached his limit?, will HK be a skyscraper-booming city again some day?
Hong kong was built by the British, it was a British colony untill 1999, nearly all the skyscrapers in Hong Kong were built while Britain was ruling there, now that Britain recently gave it back to China, things have slowed down, I don't think the Chinese like Hong Kong much, they rather build towers in shanghai and Shenzen, but I'm sure Hong Kong will want to return to its glory days as a mega modern British colony
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Old April 29th, 2013, 08:35 AM   #6
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Quote:
Originally Posted by arran21 View Post
Hong kong was built by the British, it was a British colony untill 1999, nearly all the skyscrapers in Hong Kong were built while Britain was ruling there, now that Britain recently gave it back to China, things have slowed down, I don't think the Chinese like Hong Kong much, they rather build towers in shanghai and Shenzen, but I'm sure Hong Kong will want to return to its glory days as a mega modern British colony
I don't think so. Both ICC and IFC, Hong Kong's 2 tallest buildings, came long after the handover.

Hong Kong is at a far more advanced stage of growth than China, so obviously China is playing catch-up, and building a lot more relative to HK. Their cities are also far bigger, so it's not surprising the number of projects would reflect that.

There are a lot of redevelopment projects happening, albeit of various sizes. There are no supertalls planned, but given the density is already quite high in the city, building too tall would impact quality of life and ventilation concerns. Many environmental groups have been protesting against untamed development these past few years. Don't think that can happen in China.
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Old April 29th, 2013, 08:53 AM   #7
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Good points hkskyline!

Let's not forget that Hong Kong is a finance center (with a not so diversified economy). It's absolutely natural that during a massive crisis no plans are made for new skyscrapers. Not diversifying its economy can be blamed on the policymakers though.
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Old April 30th, 2013, 07:27 AM   #8
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Doesnt this city already have enough highrises?
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Old April 30th, 2013, 08:57 AM   #9
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But, is there any space left for a super boom? The city looks great, building highrises is not like making cakes
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Old April 30th, 2013, 10:20 AM   #10
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There is actually a huge new financial district appearing in Kowloon Bay, where industrial buildings that have increasingly gone vacant are being redeveloped into offices. Rent here is a fraction of Central district.

I have maintained a thread about this in the Hong Kong section.

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Old April 30th, 2013, 11:13 AM   #11
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Quote:
Originally Posted by deadhead262 View Post
Hong kong is like an American city, it builds for demand, unlike the rest of China. You will see steady growth, but no more booms
I think China is building for "future" demand. Building costs now will most definitely be lower now than in maybe 5 or 10 years. I think it is a good idea to build as much as possible while its still cheap to do so!

Basically, I'm pretty sure people did at least some NPV analysis for any projects in China. In the extreme case, they probably found that it was better to build something now and have it vacant for a few years than build it later. I don't believe all their towers will never be filled. It all takes time.

We recently had a high speed rail link between Melbourne and Sydney quoted for a ridiculous high amount. In comparison, the high speed link between Beijing and Shanghai which was longer and required most of it on elevated tracks and cost less than a third of the Australian project.
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Old April 30th, 2013, 12:10 PM   #12
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Quote:
Originally Posted by arran21 View Post
Hong kong was built by the British, it was a British colony untill 1999, nearly all the skyscrapers in Hong Kong were built while Britain was ruling there, now that Britain recently gave it back to China, things have slowed down, I don't think the Chinese like Hong Kong much, they rather build towers in shanghai and Shenzen, but I'm sure Hong Kong will want to return to its glory days as a mega modern British colony
The tallest skyscrapers were built but only after leaving the British.
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Old April 30th, 2013, 02:28 PM   #13
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Quote:
Originally Posted by KlausDiggy View Post
The tallest skyscrapers were built but only after leaving the British.
Well, during the British era, buildings never got that tall anyway, and there wasn't enough land to build until they reclaimed so much for the new airport project that eventually opened in 1997. Bank of China and Central Plaza were masterpieces of their time and pre-dated the handover.

The economy tanked later in 1997 when Thailand started the Asian Financial Crisis. The property market fell into a slumber until the Americans started printing money to save themselves in 2008. Don't think it's accurate to say skyscraper development picked up after the handover. In fact, the new supertalls came up amidst a market crash and had to offer substantial discounts to fill up.
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Old April 30th, 2013, 08:31 PM   #14
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I think if you did the research, you'll find that quite a bit of the Hong Kong skyline grew in the 21st century.
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Old May 1st, 2013, 01:02 AM   #15
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Quote:
Originally Posted by deadhead262 View Post
Hong kong is like an American city, it builds for demand, unlike the rest of China.
Don't all cities in the West build to meet demand? Our whole capitalist system is based on that. Do South African cities build for some other reason?
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Old May 1st, 2013, 01:06 AM   #16
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Quote:
Originally Posted by isaidso View Post
Don't all cities in the West build to meet demand? Our whole capitalist system is based on that. Do South African cities build for some other reason?
I used America because nowadays they are the best example.
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Old May 1st, 2013, 05:35 PM   #17
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Quote:
Originally Posted by KlausDiggy View Post

The tallest skyscrapers were built but only after leaving the British.
The two tallest were built just after Britain left, bit the other supertalls and nearly all the skyscrapers edge built witg Britain in charge, Hong Kong was a booming city while China etre still suffering mass wtarvations, Hong Kong is at a mote developed stage, so there is less building going on, that is normal for developed countries, remember that Hong Kong was a fishing village untill Britain made it a great financial centre
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Old May 1st, 2013, 05:44 PM   #18
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Quote:
Originally Posted by arran21 View Post

The two tallest were built just after Britain left, bit the other supertalls and nearly all the skyscrapers edge built witg Britain in charge, Hong Kong was a booming city while China etre still suffering mass wtarvations, Hong Kong is at a mote developed stage, so there is less building going on, that is normal for developed countries, remember that Hong Kong was a fishing village untill Britain made it a great financial centre
Shanghai and Shenzen are building more, but Hong Kong is so dense and has such great natural scenery, that it is hard for anyone to beat. Hong king was my number one, but with all the supertalls going up in new York, they have retaken first place, but of Hong Kong built just one or two more supertalls, they would be back in number one, because the supertalls there are all of great design and quality, the two tallest are amazing, maybe best in the world, and the laser night shoes ate just awesome
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Old May 4th, 2013, 02:42 AM   #19
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Quote:
Originally Posted by arran21 View Post
Shanghai and Shenzen are building more, but Hong Kong is so dense and has such great natural scenery, that it is hard for anyone to beat. Hong king was my number one, but with all the supertalls going up in new York, they have retaken first place, but of Hong Kong built just one or two more supertalls, they would be back in number one, because the supertalls there are all of great design and quality, the two tallest are amazing, maybe best in the world, and the laser night shoes ate just awesome
I agree with you that the supertalls in Hong Kong are all great, but I also look at midrise and lowrise and there Hong Kong isn't that good.
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Old May 4th, 2013, 05:03 AM   #20
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do they actually have space to build more? lol
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