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Old July 6th, 2016, 03:58 PM   #2061
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SHKP gives plot for hostel
6 July 2016
The Standard Excerpt







Sun Hung Kai Properties (0016) has donated a plot to Sheng Kung Hui for building a tower for youth hostels and elderly homes in Yuen Long.

The 10,180 square feet site, set close to SHKP's project Yoho Midtown and the west rail station, will comprise 19 floors upon completion by 2023.

SHKP said it picked Sheng Kung Hui's proposal because of its unique concept of serving across different age groups.

About 11 floors will be used as a youth hostel to provide 160 single and double rooms of between 160 and 215 square feet. Rents is expected to be at 40 percent discount to the market so as to meet the government's requirement for youth hostels, according to Jane Lee Ching-yee, director of Hong Kong Sheng Kung Hui Welfare Council. That translates to about HK$2,200 to HK$2,500 a month at current Yuen Long rent prices.

Residents will be restricted to a 5-year stay in the youth hostel.

Another five floors will be developed as an elderly home with 150 beds for those above the age of 65. A child care center for kids with special needs will also be provided at the tower.

The construction cost is estimated to be at HK$300 million and Sheng Kung Hui would apply for government fundings to cover the cost.
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Old July 29th, 2016, 05:29 AM   #2062
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Floating gas plant cheaper and greener, says CLP chief
6 May 2016
South China Morning Post Excerpt




中電工程項目簡介/資料圖片

Power supplier says the plant will provide direct access to overseas natural gas and have less effect on environment than 2008 proposed onshore plan

CLP Holdings' proposed floating gas processing plant off Lantau - its second proposal in 10 years to import liquefied natural gas (LNG) - will cost less and result in "much less" environmental impact than a US$10 billion onshore plant rejected by the government in 2008, chief executive, Richard Lancaster, said yesterday.
Bloomberg Excerpt
July 28, 2016
Hong Kong Billionaires Study Offshore LNG Terminal to Power City

Hong Kong is thirsty for cheap liquefied natural gas.

The two companies that supply power to Asia’s third-richest city are jointly conducting a study to build an LNG receiving terminal that could be anchored off its coast. Units of Power Assets Holdings Ltd., owned by billionaire Li Ka-Shing, and CLP Holdings Ltd., owned by fellow Hong Kong billionaire Michael Kadoorie, are aiming to have the terminal operating by the end of 2020, according to a CLP spokesman.

Offshore terminals are among the hottest assets in energy. Known as floating storage and regasification units, they allow buyers fast access to an over-supplied LNG market that has pushed down spot prices in Asia by more than half since October 2014. Greater LNG imports could help Hong Kong reduce its reliance on coal and reach its goal of increasing the proportion of natural gas in its energy mix to about 50 percent by 2020.

“To further reduce our reliance on coal, HK Electric is partnering with another energy company in the city to study the feasibility of building an offshore liquefied natural gas terminal using floating storage and regasification unit technology in Hong Kong,” Canning Fok, Power Assets chairman, said in a written statement accompanying the company’s second-quarter earnings. “If the project receives government approval, the terminal will improve HK Electric’s access to and negotiating power in the natural gas market as well as the security of supply.”

CLP is leading the development of the project, a company spokesman said. The companies are conducting an environmental impact assessment, which will take 12 to 18 months to complete. It would then apply for government approval and make a final investment decision, with construction projected to start in 2019.

Hong Kong generated about 53 percent of its power from coal as of 2012, compared with about 22 percent each for nuclear and natural gas, according to its Environmental Protection Department, which is behind the 2020 goal.

More : http://www.bloomberg.com/news/articl...-2020-lng-goal
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Old August 1st, 2016, 06:04 PM   #2063
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Take the plunge: spacious homes and healthy seaside environment tempt city’s families to move to Tseung Kwan O
Energetic coastal town is close to the countryside and offers a host of leisure facilities, such as Velodrome Park, and is within a 30-minute commute of Central
South China Morning Post Excerpt
July 29, 2016


DSC08229-Pano by YKevin1979, on Flickr

The quest for a better living environment is drawing city folk away from the urban jungle to the seaside town of Tseung Kwan O.

Agents report that buyers and renters alike can find bigger, newer homes, with more space around them to relax and play than in older, smaller flats in traditional Hong Kong Island and Kowloon locales. The near-record take-up of recent launches shows just how hot this market has become. It also demonstrates the district’s quantum leap from working-class village of old, to sought-after residential neighbourhood of today.

In the 1960s, industrial activities flourished in Tseung Kwan O. Ship building, marine repairs and steel rolling were the main industries, along with fishing of course. These industries were gradually phased out or relocated after 1982, when the government approved the development of Tseung Kwan O as the seventh new town in Hong Kong.

Planning began for a series of major infrastructure projects which would turn the pretty but somewhat remote seaside locale, with limited transport options, to a well-connected, dynamic, modern precinct within 30 minutes of Central. These projects have included construction of the Tseung Kwan O Tunnel, which improved road access, and the arrival of the MTR in 2002.

Meanwhile, the new town taking shape on reclaimed land would include modern housing developments, shopping malls, and leisure facilities.

Jay Wong, chief associate district manager at Midland Realty, says most of the people moving to Tseung Kwan O are looking to upgrade their living quality. “The wide variety of new apartments gives them lots of choices, and excellent leisure facilities.

“People can own a brand-new three- or four-bedroom apartment with an excellent clubhouse here for around the same [price] as an old two-bedroom [unit] with no clubhouse on the island.”

Since most developments have been built within the last 15 years, the town is young and energetic.

“A good transportation network brings people from Central, Tsim Sha Tsui or Sha Tin within half an hour. It is as convenient as Kowloon East – so a lot of people are moving from Taikoo Shing, Lam Tin and Kowloon Bay, to Tseung Kwan O,” he says.

More : http://www.scmp.com/property/article...nt-tempt-citys
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Old August 10th, 2016, 03:00 PM   #2064
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The Standard Excerpt
URA opens doors
August 10, 2016



The Urban Renewal Authority is receiving expressions of interest in a demand- led redevelopment project in Sham Shui Po today.

Under the second round of Demand-led Redevelopment Projects, the site is on Kiu Yam Street, Kowloon Road, with an area of 5,844 square feet. It will have a total of 52,636 square feet of gross floor area after the redevelopment.

With 43,809 square feet of residential gross floor area, the URA plans to build 80 small to medium-sized residential units with flat sizes of about 377-645 square feet.

The site also includes 8761 square feet of commercial floor area built into a retail podium on the lower floors. The project began in April 2013 and it is expected to be completed in 2019/2020.

Expressions of interest have to be submitted by August 18. Last month, the Lands Department also announced a site of 9,310 square feet on Hang On Street in Kwun Tong for the third round of Demand-led Redevelopment Projects of the URA.

The site will be for residential use and include community facilities and shops.
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Old September 20th, 2016, 04:55 PM   #2065
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Small flat frenzy spills into Hong Kong’s luxury homes sector
Developers are pushing larger, high-end homes as the market gains confidence from strong mass-residential sales
September 19, 2016
South China Morning Post Excerpt

Developers in Hong Kong are changing their apartment sales strategy by offering larger, more luxurious units as impressive sales in the mass-residential sector strengthen confidence at both ends of the market, according to industry experts.

They say the recent strong uptake of small flats in new project launches - in which investors accounted for 30 per cent of total sales - has begun to spill over into the luxury housing sector.

“The boom in the mass housing sector will benefit the high-end market,” said Ricacorp Properties director Willy Liu.

Liu said the market has digested more than 3,100 new flats, mostly in mass-residential developments, so far this month.

The number of deals costing more than HK$10 million jumped 38 per cent to 199 in the first 11 days of this month compared to the same period in July, said Midland Realty.

“Such transactions accounted for 9.3 per cent of total sales in the secondary market which is the highest figure in 10 months,” said Buggle Lau Ka-fai, the agency’s chief analyst.

Last week, Emperor International Holdings sold a duplex unit for HK$177 million at Upton, on Connaught Road between Sheung Wan and Sai Ying Pun through tender sale. The selling price equates to HK$64,400 per square foot for the unit on the 45th and 46th floor with a saleable area of 2,747 sq ft, a new record in the district.

Nan Fung Development also sold a 1,058 sq ft unit at 80 Robinson Road in Mid-Levels West for HK$34.25 million, or HK$32,400 per sq ft, at the weekend.

And four luxury projects are lining up to go on sale amid an increase in big ticket transactions in the secondary residential market.

Taking advantage of positive market sentiment, Hanison Construction Holdings pitched the 2,134 sq ft penthouse unit at its luxury project, The Grampian in Kowloon Tong for HK$120 million, or HK$56,232 per square foot. The penthouse, which comes with a 1,672 sq ft rooftop, is one of 14 units put on sale at an average price of HK$35,558 per square foot without offering any discounts.

Meanwhile, Nan Fung Development is launching an aggressive marketing push for its luxury residential project, Island Garden, in Shau Kei Wan.

“Prices for Island Garden would be guided by luxury projects at Mid-Levels West as no supply for such quality exists in Shau Kei Wan,” said Victor Mark, director and general manager at Nan Fung last week.

Island Garden, due to be completed in January 2019, comprises 470 flats in four towers of between 24 and 26 storeys.

Unit size ranges from 485 sq ft to 2,290 sq ft. Seventy per cent of the flats at Island Garden have three to four bedrooms, while the remaining 30 per cent are one- to two-bedroom flats.
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Old September 25th, 2016, 06:06 PM   #2066
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Smart thinking: Hong Kong government to carry out pilot study to assess the feasibility of using technology to transform Kowloon East
Kai Tak is instrumental to district’s development as research aims to enhance pedestrian and vehicular accessibility, better manage facilities, and disseminate real-time information, such as traffic and parking availability
September 23, 2016
South China Morning Post Excerpt





Hong Kong is still struggling with the concept of urban planning and designs. The urban architecture of the city is haphazardly designed, and is exacerbated by unfriendly architecture. Take the streets around the central business district, which are designed for vehicles but ignore the comfort and safety of pedestrians, creating a sense of isolation.

However, the mindset among city planners is changing with the regeneration of Kowloon East, as city planners and architects place more emphasis on “hub ecology” to promote community interaction and integration. Sustainability measures and smart technology are becoming part of the planning.

“The government has adopted an integrated approach to the transformation of Kowloon East into what we call the CBD2 [central business district 2] to sustain Hong Kong’s economic development,” according to Secretary for Development Paul Chan Mo-po, who was addressing an audience at the 2016 annual conference last month, hosted by the Hong Kong Institute of Surveyors (HKIS).

Chan said Kai Tak was instrumental to the holistic development of Kowloon East from the perspective of urban planning and sustainable development. Apart from the objective of meeting land supply target, he said the planning would focus on connectivity, branding, design and diversity. “In doing so, we would take a people-centric approach to make Kowloon East walkable and easily accessible with a pedestrian-friendly environment.”

In June, the Energizing Kowloon East Office, the liaison office in the Development Bureau, overseeing the initial planning of CBD2, unveiled the Conceptual Master Plan 4.0 for Kai Tak, focusing on walkability, sustainability, smart city and promoting healthy lifestyle.

In the plan, the concept of walkability is advocated through proposed improvements on connectivity and pedestrian environment, such as encouraging property owners to build elevated walkways to link buildings, improving connectivity between the Ngau Tau Kok MTR station and Kwun Tong waterfront, and a proposal to build a new footbridge near Kowloon Bay MTR station.

The Kwun Tong waterfront promenade will integrate with art and creative spaces beneath the flyover along Hoi Bun Road and the nearby landscaped pedestrian network. It will eventually be extended to the future Tsui Ping River.

The government will carry out a pilot study to assess the feasibility of turning Kowloon East into a smart city, including using technology to enhance pedestrian and vehicular accessibility, better manage facilities, and disseminate real-time information, such as traffic and parking availability.
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Old October 16th, 2016, 07:34 PM   #2067
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South China Morning Post Excerpt
Chief Executive CY Leung’s proposal to lower housing prices wouldn’t improve affordability, experts say
Hong Kong Housing Authority dismisses suggestion to tie flat prices to construction costs
October 13, 2016

Chief Executive Leung Chun-ying’s proposal to lower apartment prices by pegging them to construction costs has been criticised by housing experts who said it fails to solve the crux of the city’s land shortage issue.

At a dinner on Wednesday, Leung said young couples would be able to buy their own homes for as low as HK$1 million if they only had to pay construction costs. He did not elaborate on how such an idea would work out.

Head the University of Hong Kong’s real estate and construction department Professor Chau Kwong-wing, said the plan was not feasible for government subsidised flats.

“The discount is not the key issue here. If the size of the cake is small, it doesn’t matter how you cut it, prices would still not be affordable for those who aren’t eligible for subsidised housing,” Chau said.

“You can reduce the price, but with so few units available, it doesn’t make a difference.”

Chau said if more land resources were allocated to subsidised flats being sold at construction costs, it would make private sector apartments more unaffordable.

“This would mean less supply of private flats and those who aren’t eligible for government subsidised flats will suffer even higher prices,” Chau warned.

Last year, the government admitted it would fall short of its 10-year public housing production target of 280,000 units by 25,000.
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Old October 23rd, 2016, 06:04 AM   #2068
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South China Morning Post Excerpt
Stepping out: how architects plan to get Hongkongers walking
Walkability is now a cornerstone of good urban design; but it’s as much about psychology as getting people from A to B
October 18, 2016



There’s a movement afoot to get us all walking more – and not just from the 10,000 steps a day brigade.

Architects around the world are espousing the virtues of walkable cities, where not only do the streets and paths encourage pedestrian activity, but the buildings themselves are designed to promote people-flow.

Walkable cities are the cornerstone of “new urbanism”, an approach to spatial planning that promotes environmentally friendly habits. Its holy grail is a car-free city, to which several countries, including China, have publicly aspired. (Norway has proposed banning cars in Oslo by 2019, and France has already piloted car-free days in Paris).

US firm Adrian Smith + Gordon Gill Architecture (AS+GG) masterplanned the Chengdu Tianfu District Great City, a self-sustaining, environmentally sensitive 1.3-square-kilometre satellite city on the outskirts of Chengdu, as a model for China’s future suburbs. The project, currently under construction, is based on the premise that 80,000 people will live in the Great City, which mathematically would make it one of the most densely populated districts in the world.

It won’t be completely car-free: AS+GG partner Robert Forest said that idea was discussed, but ultimately rejected (would people buy a home in a place where they weren’t allowed to own a car?).

But all day-to-day needs will be within walking distance of residential buildings, and you won’t actually need a car to get out of the city, as a multi-modal hub incorporating a high speed train, local subway and bus stations will provide adequate public transportation.

Nevertheless, it’s a greenfield site, so planners have the luxury of starting from scratch. How to make the existing city of Hong Kong more walkable is a hot topic in planning circles, and was the subject of Walk21 Hong Kong, the 17th annual conference on walking and liveable communities, held in early October.

To be fair, Hong Kong is rather walkable already. A walkability survey conducted by the Hong Kong Polytechnic University in 2009/2010 found that almost 39 per cent of daily trips are made entirely on foot, and that only 15 per cent of respondents even owned a car, which the researchers deduced was a reflection of Hongkongers’ willingness to walk.

AS+GG’s Robert Forest, who has lived in Hong Kong, uses the city as an example of somewhere developers and urban planners have got pedestrian-friendliness right.

“It’s the multiple layers of walkability,” he explains. Merely elevating pedestrians to overhead walkways doesn’t work, as everything at street level dies. Hong Kong’s walkways act as connectors, linking people to shops and offices, back and forth through air-conditioned buildings, which for a dense urban environment results in an optimal flow of movement, according to Forest.

More : http://www.scmp.com/lifestyle/interi...us-all-walking
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Old October 23rd, 2016, 03:10 PM   #2069
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Thanks for the information!
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Old October 30th, 2016, 04:23 PM   #2070
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South China Morning Post Excerpt
Hong Kong needs to build up surplus in land bank, minister says in rebuff to critics
Paul Chan dismisses fears of overdevelopment and says excess capacity will allow flexibility in dealing with changing housing and business needs
October 30, 2016

Development minister Paul Chan Mo-po denied that a long-term plan to accumulate more land than the city required would lead to too much expansion, saying a larger land bank could provide flexibility in the event of future uncertainties.

In his weekly blog posting on Sunday, Chan also reiterated that developing the city’s sprawling brownfield sites, which are degraded agricultural land occupied by businesses such as car parks and storage containers, would be an “unavoidable option” to meet the continuous demand for land.

Chan was responding to criticism about the government’s 2030-plus planning blueprint released last week for a six-month public consultation. In the blueprint, the government said Hong Kong needed 4,800 hectares of land to build flats and stimulate economic development. With 3,600 hectares already identified, the city still needed to find 1,200 hectares.

The government recommended two large-scale new town developments in the northern New Territories and on reclaimed land to the east of Lantau Island – which could provide 1,720 hectares of land – to meet demand.

Officials have said that the blueprint had overestimated the demand for land by about 10 per cent to provide extra room for bigger flats and more public space.

But the plan has met with strong criticism and claims that obtaining more land than necessary would lead to overexpansion of urbanised areas and threaten the vulnerable countryside and ecosystem.

More : http://www.scmp.com/news/hong-kong/h...-bank-minister
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Old November 3rd, 2016, 04:43 PM   #2071
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The Standard Excerpt
Mainland firm snaps up Kai Tak site for record price
Nov. 3, 2016



A Kai Tak residential site was awarded to Hongkong Island Construction Properties, a company believed to be associated to mainland conglomerate HNA Group, for HK$8.84 billion - nearly doubled the market evaluation.

The land price of HK$13,500 per square foot is so far the highest among lots sold in the Kai Tak district, significantly higher than a nearby site acquired by Poly Property (0119) two years ago for HK$3.92 billion, or HK$6,530 per sq ft.

The price per sq ft for the building site is also close to the prices of a new flat from China Overseas' (0688) One Kai Tak, which went on sale in September.

The average discounted price per salable sq ft of One Kai Tak's first price list was about HK$14,471.

The latest site occupies an area of 121,224 square feet, with maximum gross floor area of 654,602 sq ft.

The market evaluation for the site was between HK$3.6 billion and HK$4.7 billion, or about HK$5,500 to HK$7,200 per sq ft.

The successful bidder is believed to be associated with HNA Group, as Chen Xuesong - the director of Hongkong Island Construction Properties - has the same name as the person in charge of HNA Group's Shenzhen real estate business.
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Old November 6th, 2016, 06:14 PM   #2072
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The Tonkin Street West bus terminus in Sham Shui Po has been closed for public housing construction : http://www.td.gov.hk/filemanager/en/...road%20tbt.pdf





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Old November 7th, 2016, 08:58 PM   #2073
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Hong Kong railway operator pushes ahead with duty free centre at border station despite drop in visitors
Tender for construction work at MTR Corp’s Lo Wu station will begin early next year
South China Morning Post Excerpt
October 28, 2016

The MTR Corporation has pushed forward with a plan to upgrade its Lo Wu station into a duty free shopping centre despite dwindling visitor numbers.

A 740 square metre extension dedicated to duty free shops is being added to checkpoint station between Shenzhen and Hong Kong. The tender for construction work is due to go out in the first quarter of next year.

An MTR Corp spokesman said the project was part of its “asset renewal” programme on which it spent HK$7 billion a year to “benefit travellers” by improving facilities.

First proposed in 2014, the duty free project at one of its busiest stations was meant to capitalise on the growing demand of mainland shoppers and ease the pressure caused by a huge influx of parallel traders from across the border on Hongkongers living in northern district. The traders buy goods in Hong Kong to sell at a profit on mainland China.

But such demand has sharply decreased over the past two years. There were 9.2 per cent fewer mainland visitors in the city during the first eight months of this year. Their average spending also dropped – down 15.8 per cent to HK$7,105 each in the first half of the year.

While the opening date of the duty free shop extension has not been confirmed, the spokesman said the prequalification process for tenders to build the foundations would start next month.

The new complex will mean more competition for San Tin Shopping City, a 420,000 sq ft American-style pop-up mall near the Lok Ma Chau border checkpoint, which is due to open at the end of the year.
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Old November 15th, 2016, 01:55 PM   #2074
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Underground retail space in Hong Kong may lower rents, attract new entrants
Government study is looking at developing underground space in Tsim Sha Tsui West, Causeway Bay, Happy Valley, Admiralty and Wan Chai
November 15, 2016
South China Morning Post Excerpt

A government pilot study into developing underground spaces in four prime locations could help to attract new entrants into Hong Kong’s retail market, according to industry experts, as increasing supply could lower rents.

But analysts suggested providing connectivity between the subterranean spaces and facilities such as MTR stations and existing shopping malls would be paramount if the concept of an “underground shopping area” is to succeed.

“Location, location and location is the main concern for retailers. The government’s study could boost the development of the retail and tourism industry,” said Terence Chan, head of retail at JLL.

The development of underground space could provide retailers with a cheaper alternative to renting a ground level shop, he said.

In his blog, Secretary for Development Paul Chan Mo-po revealed that the pilot study was looking into the potential development of underground spaces in Tsim Sha Tsui West, Causeway Bay, Happy Valley, Admiralty or Wan Chai.

An ‘all-weather’ walkway below Kowloon Park, connecting the West Kowloon Cultural District, Tsim Sha Tsui and Tsim Sha Tsui East is an option being considered, according to Chan.

“The concept will divert passenger flow away from ground level and create new spaces to accommodate different facilities,” he said.

The study was conducted by the Civil Engineering and Development and Planning departments in June last year.
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Old November 18th, 2016, 03:41 PM   #2075
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Wheelock snaps up Kwun Tong site
The Standard Excerpt
Nov. 17, 2016



The first residential site sold since the introduction of the latest property cooling measures, a 196,550-square-foot area in Kwung Tong, has gone to developer Wheelock for HK$6.39 billion - about 7 percent above the upper limit of market valuations.

Wheelock Properties managing director Ricky Wong Kwong-yiu said the price was reasonable, and he expects the company to invest about HK$10 billion in the project on Kwun Tong Sin Fat Road.

The latest cooling measures, he added, are expected to have a short-term effect on the homes market.

The HK$6.39 billion price means Wheelock paid HK$7,728 per square foot for a site that will deliver a maximum gross floor area of 826,539 sq ft.

The tender attracted a total of 12 bids from Hong Kong and the mainland.

Market valuations for the site were between HK$4.3 billion and HK$5.95 billion.

Wheelock is looking to build two- and three-bedroom flats on the site mainly to meet the needs of young families.

So Wheelock aims to build 1,100-1,200 flats there, said vice chairman Stewart Leung Chi-kin, who also said the price was reasonable for a project that is expected to be selling in about three years from now.
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Old November 19th, 2016, 11:49 AM   #2076
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South China Morning Post Excerpt
‘Outrageous’ laments analyst, as Hong Kong government land sale revenue surges to HK$52.84b
Government land sales have become a ‘battlefield’ between local and mainland developers, one analyst says. Revenue since April has exceeded the full year result for fiscal 2015 by 22 per cent
November 17, 2016

Hong Kong government land sale revenue by tender has reached HK$52.84 billion for the seven months to November 16, up 22 per cent from the full year figure for 2015 as fierce competition drove up land prices.

For the financial year ended March 31, 2015, the government had generated land sale revenue of HK$43.31 billion, according to Lands Department data.

“The land sale figure is outrageous,” said Vincent Cheung Kiu-cho, executive director of valuation and advisory services Asia at Colliers International. “Hong Kong’s land market is turning into a battlefield among mainland developers. Their aggressive bids have lifted land prices to a new height.”

But he believes the introduction of a 15 per cent stamp duty for all residential purchases in early November, except for first-time buyers, and an imminent interest rate rise in the US next month is unlikely to dampen developer interest.

Denis Ma, head of research for Hong Kong at JLL said the spectacular land sale figure was partly driven by local developers eager to expand their land banks.

“Local developers had turned aggressive for land replenishment. Previously, locals have lost out to mainland rivals but they are catching up now,” he said.

Although mainland buyers have won only five out of the 25 government land tenders so far this financial year, their participation rate was 56 per cent compare to 43 per cent last year, said Ma.

“Their presence and willingness to submit aggressive bids has been one of the reasons why local developers have likely increased bid offers,” he said, noting mainland developers had participated in 14 of the 25 government tenders.

More : http://www.scmp.com/property/hong-ko...ment-land-sale
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Old November 20th, 2016, 07:11 AM   #2077
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South China Morning Post Excerpt
No need for Hong Kong government to enforce flat size limits, development secretary says
Paul Chan Mo-po says small homes more affordable for young people who want to have their own place, and authorities shouldn’t eliminate that option
November 19, 2016

Hong Kong’s development chief has dismissed the need to impose restrictions on the minimum size of new flats, even as developers are building ever smaller homes at a rapid speed.

Speaking after a radio programme, Secretary for Development Paul Chan Mo-po said the small flats offered an easier choice for the younger generation to move out of their parents’ homes, and that the government should not eliminate such options.

Chan’s comments came as some of Hong Kong’s biggest developers are building ever tinier units in the city – as small as 152 sq ft – with many sized below living space limits enforced by many countries.

“We have considered it. But we currently don’t have any plans to impose restrictions [on flats’ sizes],” Chan said, adding that flexibility was needed for market adjustments, given the uncertainties during the period when the flats were under construction.

“There is a demand for such small units,” he said. For example, he said, young people who want to move out of their parent’s houses could only afford these flats due to their limited budget. “It is not suitable for us to decide what size of the homes they are allowed to live in.”

Though many countries impose restrictions on the minimum living space per person, Hong Kong enforces this only for public flats – of at least 75 sq ft per person – and not for private flats.

The limits in other places, which include Singapore, Taiwan and the United States, are usually much higher.

Despite rising concerns over the standard of living of Hong Kong people, more of such small units are expected to hit the market in the next three years.

Private housing space in the city is set to increase by about 30 per cent between this year and 2019 to 13 million sq ft, while the number of units will jump 60 per cent during the same period, according to a research report by non-profit body Our Hong Kong Foundation.

This means the average private housing unit will be almost 100 sq ft smaller in 2019 compared with the figure currently.
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Old November 21st, 2016, 03:50 PM   #2078
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South China Morning Post Excerpt
Proper development of New Territories can solve housing woes
November 13, 2016

I refer to the article, “Government steps up fight on home prices” (November 5), about the government’s decision to again increase stamp duties.

If officials open the map of Hong Kong, they will see that 92 per cent of our land resources are in the New Territories, which has a total area of 370 square miles. Only 20 per cent of this has been developed. The only way to achieve reasonable home prices is by developing the vast areas of land in the New Territories.

The Joint Declaration was signed in 1984, which made the New Territories an integral part of Hong Kong. Why has the government still not repealed the New Territories Ordinance?

It was enacted by the British colonial government only because of the New Territories lease for 99 years, which, by reason of the Joint Declaration, is no longer relevant. Repealing the ordinance will ensure that the entire Hong Kong special administrative region can be planned and developed as a whole and not piecemeal as is now being done.

There are obstacles to achieving this, but it is the duty and function of the government to overcome them.

Officials should have the foresight, ability, courage and political will to do what is necessary for Hong Kong’s future. It is the only way ahead.

Instead of shirking the problem by proposing expensive and impractical minor short-term solutions like reclamation, excavating caverns and increasing stamp duties, the government should immediately face the challenge of how to properly plan the future development of the New Territories. Repealing the New Territories Ordinance will be a good and necessary start.

It is ludicrous that in a small territory like Hong Kong, there should be two different classes of land and two different classes of people, with “indigenous villagers” having different legal rights. These differences must be abolished so that the New Territories can be developed the same way as any other part of Hong Kong.
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Old November 22nd, 2016, 03:46 AM   #2079
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Government’s long-term development plan sets out vision for Hong Kong’s growing population
November 21, 2016
South China Morning Post Excerpt

Hong Kong will need one million flats in the next three decades to accommodate household growth, non-locals and displacement caused by redevelopment projects, according to a long-term land planning report issued by the government.

The report, released as a supplement to the 2030 Plus long-term strategy for planning and development beyond 2030, also projects that the average flat size in the private housing sector would be 646 sq ft in net or saleable floor area by 2046.

The calculation is based on flat sizes growing 6 per cent over the past 32 years. The current average size for planned new town housing developments is 620 sq ft.

Based on the projections, the report concludes that the city will need 1,670 hectares of land for housing by 2046, with only 1,440 hectares already identified.

This is the first time that the government has specified the target date of 2046, a year before the end of the five decades that Beijing has promised to keep the city’s way of life unchanged.

“[The projection] has not taken into account any home space enhancement, despite the general community’s aspiration for improving living quality ... any inclusion of home space enhancement would imply additional housing land requirement,” the report said.
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Old November 22nd, 2016, 01:48 PM   #2080
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Ho Man Tin Station Area

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