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Old April 10th, 2009, 09:15 AM   #661
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業主不理性反價 後市添阻力
10 April 2009
香港經濟日報

本港樓市近月呈現「三升」局面(即成交回升、樓價回升及租金回升),首季樓市在用家入市帶動下,已步入小陽春。不過,受制失業率持續上升、以至樓價短期升勢較急等兩大因素困擾,樓市隨時打回原形。

近月的小陽春局面,由用家及長線投資者帶動,較過往由短線投資者炒作出來的更具生命力。但是,若外圍經濟持續轉差,業主繼續不理性反價,勢令這股小陽春提早壽終正寢。

連續3月 成交破8000宗

一般而言,本港整體物業成交量能連續3個月企穩8,000至9,000宗或以上,就可以確認樓市處於小陽春狀態,而在用家入市帶動下,上月份整體物業註冊量錄得8,062宗,為樓市小陽春建立了一個起點。

但升勢能否長久,市場人士則有保留,更莫說再現「牛市」,主因後者要配合經濟環境轉佳,及失業率處低位、才可以構成一個長期的升市(牛市)。而近日,樓市只是由用家帶動,故市場經過一輪衝刺後,後勁能否持續,這股小陽春下月能否持續,仍然成疑。

樓市經歷金融海嘯摧殘後,樓價急挫,反映大型屋苑樓價走勢的中原城市領先指數,更於去年12月錄得54.89點的低位。但隨銀行放水、買家入市,中原城市領先指數近期已重回60.2點,全港50指標屋苑的平均呎價,亦由1月開始回升至平均4,034元水平。

然而,隨近月市場氣氛略有改善,不少二手業主紛紛出現提價及反價情況,為樓市交投添阻力。近日,長沙灣碧海藍天一個中層G室單位(面積664平方呎),由於業主見勢心雄,將原先叫價由330萬元,一下子加至360萬元,加幅達到9%,當堂嚇怕了買家,令單位暫處於無人問津局面。

03年沙氏時期,失業率曾高見8.5%,而當時中原城市領先指數亦處於歷史低位。而面對本港失業情況趨惡化下,肯定會對樓價升勢構成阻力。

經濟下滑,即使近期50指標屋苑的平均呎租已由14.75元回升至上月的14.93元,但近日長線投線者入市,且多個新盤亦陸續出籠,勢令租盤供應增加。

面對減薪潮、裁員潮威脅,市民承租能力亦受到影響,故近月的租金升勢,或許只是曇花一現,相信租金走勢,亦難以獨善其身。

失業率未見頂 樓市存隱憂

外圍經濟未見大幅改善,出口、物流、金融等多個行業仍未復甦,整體就業市場仍疲弱,失業率續有上升壓力。目前,失業率已升至5%的近年高位,尚未見頂,雖未至沙氏8.5%水平,但不少市民面對飯碗不保的情況,入市及換樓意慾能否保持,相信難矣。

近月這股樓市小陽春驟然降臨,雖令樓市多添了生氣,但目下本港經濟仍存不少隱憂及變數,相信未來樓市的走向,仍會相對波動。
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Old April 12th, 2009, 03:14 PM   #662
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Old April 13th, 2009, 10:03 AM   #663
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Property market gets boost as developers sell 50 new flats
13 April 2009
South China Morning Post

More than 50 new flats were sold during the Easter holiday, showing the Hong Kong property market is recovering from the global financial crisis, agents said.

With robust demand, Cheung Kong (Holdings) will increase the number of flats for sale after the holiday at Central Park Towers II in Tin Shui Wai, a new phase of the project.

The company said it would add 32 more units to the first batch for sale from 24 units originally after receiving 1,200 preliminary orders, according to deputy chief manager for sales Joseph Lau Kai-man.

"The show flat attracted more than 12,000 visitors during the holiday," Mr Lau said. "More than 60 per cent of visitors came from Tin Shui Wai, Tuen Mun and Yuen Long, as they are looking for new flats in the same district."

Property agents said several investors had placed up to 10 pre-orders. The company has not yet set the deadline for the pre-order period. Central Park Towers II will be sold at HK$2,218 per square foot, 10 per cent lower than second-hand flats in the first phase.

That partly contributed to the sluggish sales in the secondary market, agents said.

"The second-hand flats market is cool compared with the hot demand for new flats," said Centaline Property Agent sales manager Cindy Kwok. "There have been no transactions in the secondary market in Tin Shui Wai, given the low price set in the first-hand market. Homeowners aren't rushing to sell at low prices."

Property agents estimated more than 50 new flats have been sold during the weekend holiday, with Emerald Green, developed by New World Development, selling more than 10 flats.

Emerald Green in Yuen Long is close to Central Park Towers II and property agents said the project was well received and might end up selling more during the holiday. They said new flats at Emerald Green were sold at about HK$3,100 per square foot.

Sun Hung Kai Properties' Latitude in Prince Edward in Kowloon attracted at least six pre-orders during the weekend. The project is scheduled to launch after the holiday.

Other new projects, including Sino Group's Dynasty in Tsuen Wan, Nam Fung Group's Florient Rise, Chinese Estate Holdings' i-home in Tai Kok Tsui, also recorded transactions during the weekend holiday.
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Old April 14th, 2009, 05:03 PM   #664
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Flats draw big crowd
Hong Kong Standard
Tuesday, April 14, 2009

A Tin Shui Wai residential project developed by Cheung Kong (Holdings) (0001) has attracted almost 2,000 preliminary orders, according to real estate agents.

The developer said last week that it was ready to put 56 homes at Central Park Towers II on the market. Yesterday, it said that another 32 flats, at an average HK$2,226 per square foot, will be added to the first batch to be sold, though it has yet to reveal the starting date.

The additional 32 homes are on the 12th, 22nd, 29th and 32nd floors of Block 8 and range from 652 to 676 square feet.

Cheung Kong said it will offer insurance-free mortgages, with BOC Hong Kong (2388), covering up to 75 percent. The developer said more than 50,000 people visited show flats over Easter.

According to agents, about 120 new flats were sold in the overall property market during the holiday. During the four days, they said New World Development (0017) sold about 40 units at its Yuen Long project, Emerald Green. And about 20 were sold at Harbour Place, a Hung Hom development by NWS Holdings (0659) and Sun Hung Kai Properties (0016).

There were 103 deals in the 10 largest housing estates over Easter, up 91 percent from the same period last year, according to Midland Realty. "The secondary residential market has been more active after new projects recording satisfactory sales during long holidays," said director Sammy Po Siu- ming.

Centaline Property Agency said 131 units were sold at the 10 largest housing estates over the four days.

There were 78 transactions in the housing estates last Saturday and Sunday.
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Old April 15th, 2009, 12:03 PM   #665
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Top developers speed up pre-sales
Prices discounted as Cheung Kong and SHKP may expect worse to come, analysts say

15 April 2009
South China Morning Post

Hong Kong's two biggest developers have accelerated pre-sales of at least 2,227 new flats under construction - some at steep price discounts - raising concerns that they expect market conditions to get worse as the projects near completion next year.

Cheung Kong (Holdings) said yesterday that it would begin pre-selling flats tomorrow at its Central Park Towers II in Tin Shui Wai.

The developer stunned the market last Tuesday by announcing it planned to release the flats for as low as HK$2,066 per square foot, more than 10 per cent below secondary market deals in the area.

It announced the pricing for the first batch of units on the same day, leading secondary market deals to plunge at the weekend as buyers turned their attention to the discounted new units.

Sun Hung Kai Properties announced the next day that it would release its project, the Latitude in San Po Kong, Kowloon, for private negotiations. It said it would offer the units at an indicative range of HK$6,000 to HK$8,000 per square foot.

Property agents said this represented a premium of about 20 per cent to secondary market deals in the area and that actual prices could be lower when pre-sales got under way.

Both developments are due for completion in the fourth quarter of next year, which means buyers will have to wait at least 18 months before they can move in.

"It is rare to see two big projects offered at such an early stage, as most uncompleted developments will only be pre-sold within 12 months of completion," said Matthew Kwok, the head of research at brokerage firm Tanrich Financial Holdings.

Analysts and property agents said the accelerated pre-sales indicated developers wanted to capitalise on improved market conditions in view of concerns that buyer sentiment could deteriorate later in the year.

Cheung Kong is the first developer to announce the launch of a new project at below secondary market transaction prices since the Sars health scare of 2003. The more than 10 per cent price cut contrasts with the 30 to 40 per cent discount at which new developments were released at the height of the property market recovery in 2007.

While the low-price strategy was clearly aimed at attracting buyers to the remote border location, it would nevertheless have a negative impact on sentiment, said analysts.

"To a certain degree, the strategy also reveals a negative view from the developer on the prospects of the market," said Michael Wu, a director in the Asia-Pacific corporate division of Fitch Ratings.

"If a developer acknowledges the market is still under a cloud as global economic conditions are deteriorating, why not opt for a fire-sale strategy to raise cash?"

He said there was no reason to do so to steal market share, particularly when buying interest was shrinking.

"Developers focused on volume sales will appear to be the winners as they can generate sufficient cash to weather the downturn," he added.

But in the present bearish market, demand could easily be exhausted by the release of just one large project. It would therefore come as no surprise if the market cooled down for at least six months after the two releases later this month, Mr Wu said.

Early last year, sales ran out of steam in the primary residential market immediately after 2,000 units at the Capitol in Tseung Kwan O were sold by Cheung Kong.

Agents said weekend secondary market transactions in Tin Shui Wai almost came to a standstill after the pre-sales were announced.

"We have seen a nosedive in sales," said Perry Fong Kai-ming, a sales director for Tuen Mun and Tin Shui Wai districts at Centaline Property Agency. "Transactions at Kingswood Villa, a major residential project in Tin Shui Wai built by Cheung Kong, dropped as much as 60 per cent at the weekend compared with the previous weekend."

Cheung Kong had announced it would price the cheapest of the first batch of 24 units at Central Park Towers II at HK$2,066 per square foot, compared with the average price of HK$2,470 per square foot for pre-owned flats in Phase I. The second phase has 1,068 units.

The average price for the new batch was HK$2,205 per square foot, and the developer later said it would release 32 more units at that price.

The move also undercut New World Development's Emerald Green project in Yuen Long, which offered units at HK$2,999 per square foot on the same day.

A day later, Cheung Kong sweetened its offer by announcing that owners and tenants in Tin Shui Wai would receive a further 3per cent discount, which would price the cheapest unit at HK$2,004 per square foot.

Paul Louie, the regional head of property research at Nomura International (Hong Kong), said a high pricing strategy would be inappropriate in the western part of the New Territories, as buyers were mostly price-sensitive end users.

"It is true the first batch is lower than market expectations, but it only accounts for about 2 per cent of the total number of flats at Central Park Towers Phase II," Mr Louie said. "The low price is more of a strategy to generate buyer interest."

Eric Wong Chun-yu, the co-head of Asia property research at UBS, said it was unlikely that projects in more centrally located districts such as Wan Chai and Mid-Levels would be offered at substantially discounted levels to generate sales volume.

Separately, market sources said SHKP had received 50 purchase offers ranging from HK$7,000 to HK$8,000 per square foot for units at the Latitude up to yesterday afternoon.

SHKP said it had arranged for Bank of East Asia to offer mortgages for 30 units at the Latitude at 3.35 percentage points below the prime rate, an effective mortgage rate of 1.9 per cent, for the first year.
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Old April 16th, 2009, 04:18 PM   #666
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恆地北角項目規劃大綱明審議
16 April 2009
信報
  
政府不斷降低海濱用地的發展規模,以迎合公眾近年對於空氣流通等的期望。恆地(012)北角京華道亞洲凍倉重建項目,政府建議的規劃大綱將容許地皮作為商業或住宅發展,純商業發展上限為十二倍,較分區計劃大綱圖所容許的十五倍為低,周五將交由城規會審議。

項目屬於綜合發展區(1)用地,佔地約七萬三千六百八十方呎,最新規劃下,純住宅發展地積比率上限八倍,商業則十二倍,另設一百一十米(主水平基準上.下同)的高度限制。這與大綱圖原本容許的南面地盤高限一百六十五米和地積比率上限十五倍為低。

另外,城規會亦將審議裕泰興太子道西一一五至一二三A號重建為商廈的申請,發展商擬建一幢十九層寫字樓;規劃署認為,發展與該區規劃意向和周圍環境不符,不予支持。

至於環保觸覺提出降低西鐵南昌站的發展密度申請,亦因規劃署認為方案未能適度地利用該幅交通便捷的地皮,並不支持■
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Old April 16th, 2009, 04:22 PM   #667
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Old April 18th, 2009, 03:36 PM   #668
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Cheung Kong fire-sale flats draw strong buyer response
17 April 2009
South China Morning Post

The steep discounts being offered by Cheung Kong (Holdings) for its residential project in Tin Shui Wai have generated a strong response as the company gambles the tactic will allow it to launch another upcoming project at higher prices.

A Cheung Kong spokesman said more than 600 units at Central Park Towers II had been sold by 11pm yesterday, four hours after the sale began. About 1,000 prospective buyers, mostly escorted by agents, arrived at the sales office as early as 4pm.

Given the low prices, the market had widely expected all 1,068 units at the project would be cleared on the first sale day. Before the official sale, about 3,000 prospective buyers made pre-orders for the project, with some reserving for five or six units each.

With improved market sentiment, property analysts said Cheung Kong would benefit from its next major sale - the 1,688-unit LePrestige development in Tseung Kwan O - later this month.

Cheung Kong stunned the market on Tuesday by announcing it was planning to release the Tin Shui Wai flats for as low as HK$2,066 per square foot, more than 10 per cent below secondary-market transaction prices in the area.

To further sweeten the deal, Cheung Kong - the first developer to launch a new project at below second-hand market prices since the Sars outbreak of 2003 - offered a 5 per cent discount for buyers who opted for cash payment, meaning the cheapest units would be offered for HK$1,962 per square foot.

Owners and tenants in Tin Shui Wai would receive an additional 3 per cent discount, which would further reduce the price to as low as HK$1,903 per square foot.

Analysts said Cheung Kong's bid to undercut rivals must have been prompted by its target to raise about HK$2.2 billion from the sale of the project near the Hong Kong-Shenzhen border.

"Cheung Kong must have calculated the downside risks of its pricing strategy. If its steep discount offer fails to generate a strong sales response, it could potentially deal a severe blow to the housing market," said Michael Wu, a director in the Asia-Pacific corporate division of Fitch Ratings. But he said the risks in Cheung Kong's "fire-sale pricing strategy" were worth taking, given the low land costs.

Eric Wong Chun-yu, a co-head of Asian property research at UBS, said the estimated total investment costs for Central Park Towers II was HK$1,400 per square foot. "It is still able to achieve 30 to 40 per cent profit margins," he said.

Perry Fong Kai-ming, a sales director at Centaline Property Agency, said strong sales would certainly be positive for the market. "We have not seen so many potential buyers chase after a project for almost a year," he said.

Nicole Wong, the head of Hong Kong and China property research at CLSA, however, cautioned against using the sale outcome of the project as an indicator of market outlook. "Due to the remote border location, it has no pricing power," she said.
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Old April 19th, 2009, 06:19 PM   #669
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Don't let URA near waterfront and industrial areas, say groups
16 April 2009
South China Morning Post

Pressure groups expressed concern at a public hearing yesterday over a proposal to extend the role of the Urban Renewal Authority in revitalising waterfront and industrial areas.

They also called for tracking studies to be conducted to assess the impact of renewal projects on community networks and for social service help offered to affected residents to be more independent.

In the hearing held at the Legislative Council yesterday, more than 30 pressure groups, professional institutes and individual activists were invited to present their views on how the renewal strategy should be changed to accommodate changing social aspirations.

The public consultation on the review of the city's urban renewal strategy will enter its second stage next month, with forums to gauge public views on nine topics, including the future roles and financial framework of the authority.

Responding to a suggestion by the government's steering committee that the authority's roles could be extended to revitalising waterfront and industrial zones, Community Cultural Concern co-ordinator Keith Au Kwok-kuen said he was "afraid the creative industry would be stifled by the authority if it is given the power to redevelop industrial areas".

Mr Au said industrial buildings were good places to nurture local arts and creative industries because the units were spacious.

They had become ideal places for film studios, dancing rooms and band rooms, he added. "The arts industry could be destroyed by the authority as it lacks experience in dealing with arts," he said.

Wong Ho-yin, a member of People Planning in Action, said his group objected to the idea of handing over the waterfront and industrial areas to the authority, fearing it would become too powerful.

But steering committee member Vincent Ng Wing-shun said extending the authority's role would help the district-based redevelopment approach. "We need an agency to revitalise areas that have long been neglected in redevelopment," he said.

"It does not mean the authority would be tearing down all industrial buildings," he added.

Secretary for Development Carrie Lam Cheng Yuet-ngor said the government was keeping an open mind on the future role of the authority, adding the authority had just started its first tracking study in a redevelopment project in Sham Shui Po.

Democratic Party lawmaker Emily Lau Wai-hing urged the setting up of a special taskforce under Legco's development panel to monitor the strategy review.

Panel members will vote on her taskforce proposal at their next meeting this month.
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Old April 21st, 2009, 12:11 PM   #670
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Aberdeen makeover plan cut by 80pc
Tourism project hit by meltdown and apathy

21 April 2009
South China Morning Post

The government's ambitious blueprint to revitalise Aberdeen into a tourism hub has been dramatically scaled down by about 80 per cent amid the credit crunch and lacklustre interest from the private sector, according to the latest plans.

The Fisherman's Wharf, which largely anchored the tourism project, has also been dropped, but the revised plan will seek to preserve characteristics of a traditional fishing village. "Fisherman's Wharf is just a name," a source said. "Besides, the Fisherman's Wharf in Macau is not exactly a success."

The tourism project has been in discussion for about a decade.

It gained little traction over the years despite support from the community, lawmakers and the tourism industry. Aiming to upgrade the public areas of Aberdeen and Ap Lei Chau to standards similar to that of Stanley, the project had initially designated seven sites for redevelopment.

Under the current plan, only the waterfront promenade in Aberdeen and Ap Lei Chau will be beautified. The total area is more than 36,000 square metres.

The original blueprint covered about 170,000 square metres.

The government will also improve Ap Lei Chau Main Street and other side streets that are home to small restaurants and stores.

"There are a lot of seafood restaurants there and we hope the improvement works will help them do more business," the source said.

Pending district council and Legislative Council approval, the project could be ready by 2012.

The government is seeking between HK$150 million and HK$200 million for the project, which will create about 200 jobs.

No data was available for the expected economic benefit.

Initial cost projections were as much as HK$1 billion and included a Fisherman's Wharf and various attractions such as a museum highlighting the city's cultural heritage, port development and use of traditional sampans or sightseeing "water taxis" to transport people.

However, a consultancy study carried out by Evans & Peck for the government last year found that it was necessary to increase the alfresco dining and shopping areas by about 70 to 75 per cent to make the project more attractive to the private sector.

In addition, the government would have to pay for facilities that did not generation any revenue.

But even then, the return on investment would be only 9 per cent, "which was marginally viable when the economic situation was better", the study found.

Michael Wu Siu-ieng, chairman of the Association of Travel Agents, said the scaled-down blueprint would be more effective than the original concept, which he described as too large and expensive.

"The latest plan is more to the point because many tourists are familiar with and like sampans and the history of Aberdeen," Mr Wu said.

Visits to Aberdeen are generally included in half-day sightseeing tours that include The Peak, Repulse Bay and Stanley.

These tours cost between HK$290 and HK$320.
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Old April 21st, 2009, 05:46 PM   #671
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Old April 22nd, 2009, 05:43 PM   #672
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By 鄧麗欣之戀 from skyscrapers.cn :



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Old April 23rd, 2009, 04:31 PM   #673
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Caritas to get improved access
21 April 2009
South China Morning Post

A footbridge will connect the main block of Caritas Medical Centre in Sham Shui Po to its emergency room, after a blunder last year when the hospital failed to help a dying heart-attack patient on its doorstep.

Redevelopment of the hospital, scheduled to be completed by 2013, will see a new rehabilitation block stand on the site of the current main building, Wai Ming Block, where most patients enter and exit the hospital on Wing Hong Street.

The new building will have five high-speed elevators able to deliver patients quickly to the footbridge leading to the emergency room, Hospital Authority senior architect Donald Li told the Legislative Council services panel yesterday.

More road signs would also be added around the hospital, among other redevelopment work, he said.

Undersecretary for food and health Gabriel Leung said the whole project would be finished in 56 months.

The redevelopment plan was originally launched in 2007 with an estimated budget of about HK$1.3 billion.

However, it was shelved when the bidding prices of contractors turned out to be 48 to 56 per cent higher than the original estimate.

Professor Leung said the discrepancy in prices was due to sustained inflation of raw-material prices in 2007, and that tenderers marked up prices because of the length of the construction project.

The government is now splitting the construction into three contracts, with the first phase to be contracted out next month.

Professor Leung said it would be difficult to estimate the cost of the latter phases as no one was sure about economic conditions in two years' time, when the first phase would be completed.

Meanwhile, a planned new rehabilitation building has been redesigned to cut costs. It has been reduced from 15 floors to 12, with the floor area reduced by 10 per cent.

A 56-year-old man died in December while awaiting treatment at the entrance of the hospital, after a receptionist told his son to call an ambulance, which took 26 minutes to deliver him to the emergency room.
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Old April 27th, 2009, 06:41 PM   #674
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聖 保 祿 醫 院 第 一 期 重 建 by 鄧麗欣之戀 from skyscrapers.cn :

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Old April 29th, 2009, 10:32 AM   #675
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'Cut threshold for forced sale'
27 April 2009
South China Morning Post

Requiring developers to secure the support of at least 80 per cent of a building's owners instead of 90 per cent to force the sale of the property was more reasonable, the Hong Kong Institute of Surveyors said.

Citing benefits to society and the environment, Lawrence Poon Wing-cheung, who chairs the institute's general practice division, said it was unreasonable to allow a few reluctant owners to derail redevelopment plans supported by the majority.

A government proposal to lower the threshold for a forced sale under certain conditions has yet to be approved by the Legislative Council. Many lawmakers are worried the move will accelerate the acquisition of old buildings that are still structurally sound. They, therefore, want a stronger justification for reducing the current threshold.

Not so the surveyors. "We support lowering the threshold," Dr Poon said. "I think making it 90 per cent is maybe too high, while 80 per cent is more reasonable."

The institute has launched a booklet to inform the public about compulsory sales. The booklet is available for download from the institute's website.

The institute's senior vice-president, Stephen Yip Moon-wah, said a deeper understanding of compulsory sales was needed as many people harboured fears that they would get less-than-fair value for their property if the sale of their building was forced through.

But, he said: "The value largely depends on the development potential of the land."

The government initially wanted its proposal to apply to three different scenarios: smaller buildings in which a single holdout represented 10 per cent or more of the shares; buildings that were aged 40 years or older; and those with missing or untraceable owners who accounted for at least 10 per cent of shares.

The third provision was removed in a revised proposal because it might infringe on the property rights of untraceable owners.

The government said lowering the threshold under the first condition would allow for the private redevelopment of buildings with five to nine units where a deadlock could develop if only one of the owners refused to sell.

At present under the Land Ordinance, anyone who owns at least 90 per cent of the total undivided shares of a lot may apply to the Lands Tribunal for an order for compulsory sale of the entire lot.
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Old April 29th, 2009, 01:13 PM   #676
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旺角始創全幢「變身」商場
29 April 2009
星島日報

九龍建業旗下旺角始創商場出租率百分之一百,發展商擬將現時二十五萬方呎的寫字樓樓面,改為商場,令始創中心全幢變身為零售物業,提供總樓面四十七萬方呎,計畫將於五至十年內進行。

需時長達五至十年

九建租務經理馬淑貞表示,旗下旺角始創中心十九及二十層兩全層,早前已改為零售,現時由直銷中心承租,集團計畫將其餘寫字樓樓面,轉改為零售樓面。

她解釋說:「始創商場只有二十萬方呎,基於地方細,未能提供更豐富的內容及商戶組合,所以才有此計畫。」始創中心現時尚有二十五萬方呎商廈樓面,變身後,全幢始創商場面積將增至四十七萬方呎,成為一個大型商場。

現時該項目寫字樓部分平均呎租約三十元,商場部分呎租由五十至三百元。雖然商場收益較商廈高,惟更改零售樓面,並非純粹着眼租金加幅,而是希望吸納更多商戶組合,帶動人流,令商場長遠有更好前途。她表示:「若有些行業承租能力不高,但又能夠有效吸納人流,我們依然歡迎。」

現時始創中心商場每年帶來租金收益二億元,暫時未有變身商場後,租金增加的確實數字。
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Old April 29th, 2009, 06:51 PM   #677
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New projects boost property prices
27 April 2009
Hong Kong Standard

Robust sales in new residential projects helped prices in the secondary market rise around 7.9 percent since the beginning of the year, climbing for the fifth straight month, said Ricacorp Properties head of research Patrick Chow Mun-kit.

``The average selling price in 50 major projects in Hong Kong was HK$4,133 per square foot, versus HK$3,830 in December,'' Chow said.

``There is still room for prices in the secondary market to grow next month but the momentum may stop in June because of seasonal factors and worries about the financial tsunami's second wave.''

Sun Hung Kai Properties (0016) said it has reaped about HK$4.5 billion from the sale of 620 units in its San Po Kong residential project The Latitude since April 18. The developer sold 130 units in the past two days alone at an average of HK$7,600 per sq ft. The price was 4.8 percent higher than the average of HK$7,255 psf for the first batch. SHKP began selling 160 flats in Block 6 yesterday after reporting vigorous sales in Blocks 7 and 8.

The Latitude comprises five residential towers with a total of 1,159 flats.

Meanwhile, there were 52 secondary market deals in the 10 biggest residential projects over the weekend, up 33 percent from a week earlier, Midland Realty executive director Andy Ho Ming-pui said.

``Homebuyers were attracted by the strong sales in the primary market, and some turned to the secondary market for long-term investment,'' said Ho.

Transactions in Kowloon rose the most, as buyers were influenced by new projects in the area, he said.

As of last Thursday, primary home sales tripled to 1,109 units from 349 apartments a month earlier and 5,833 secondary home flats changed hands, a 24.4 percent increase.

Commercial property sales jumped 57.1 percent to 872 deals, Lau said, citing Land Registry figures.
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Old April 30th, 2009, 11:03 AM   #678
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Redevelopment threatens sites for house swifts and barn swallows
30 April 2009
South China Morning Post

Increasing redevelopment, poor public awareness and a lack of laws are to blame for a drastic decline in the number of house swift and barn swallow nests in urban areas, birdwatchers say.

They say that nests of house swifts are "almost non-existent" on Hong Kong Island because dense high-rises, unfavourable for building nests, dominate.

Across Hong Kong the estimated number of swift nests had decreased by 7 per cent to 866 last year, with some known habitats such as Yuen Long town seeing a drop of 82 per cent - from 720 to 130 nests since 1991 - a birdwatchers' survey has found.

The house swift is not an endangered species. But its legs are too weak to support its body weight, so it cannot land on flat ground. Its nest, which hangs under a balcony, is the only place it can rest and breed.

A similar plight is facing the barn swallow, which migrates to the city to breed. Nest numbers fell about 12 per cent to 223 last year. The number of nests in new towns has also decreased by as much as 86 per cent since 1991.

"While we don't think they are going to be extinct {hellip} it is possible that half of them might be gone if nothing is done to preserve existing major habitats," said Tsim Siu-tai, a member of the Hong Kong Bird Watching Society study team.

Nearly half of the house swift nests were in three clusters - the Chinese University library with 215 nests, former North Kowloon Magistracy with 124 and the HSBC branch in Shek Wu Hui, Sheung Shui with 43. But these clusters are not safe.

The university's library is to be expanded and, under a conservation plan, nests have been built in new sites that will not be affected.

A heritage revitalisation project is in the pipeline for the court building, throwing the future of the existing nests into doubt. Other threats are from urban redevelopment, building renovations and poor public awareness.

New high-rises are not attractive to swallows or swifts and some renovations of shops had also disregarded the replacement of nesting places, Dr Tsim said. Property owners or managers had removed at least 50 nests from 2004 to 2006.

Dr Tsim said the Wild Animal Protection Ordinance failed to protect these birds because of the difficulty in proving whether a nest was in use.

A spokesman for the Agriculture, Fisheries and Conservation Department said all nest removals required its approval.

It has received three such requests since 2007 and all had been approved.
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Old April 30th, 2009, 07:02 PM   #679
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新地2億掃九龍城舊樓
廣州玖瓏湖售85伙 套10億

30/04/2009




東南九龍啟德郵輪碼頭計劃,令區內物業價值提升,吸引發展商在區內「尋寶」。消息指新地或有關公司以近2億元,透過招標向投資者盧華購得九龍城衙前塱道56至66號6幢舊樓,每方呎樓面地價3,100元,上址料重建一幢單幢式物業,總投資額近4億元,提供約70個單位。

6幢舊樓重建免補價
新地近一年半密密手於私人市場增持土儲,消息稱,該集團或有關公司剛購入的衙前塱道56至66號共6幢舊樓,以住宅可建樓面5萬多方呎計,可建住宅約70伙,總投資料3.5億至4億元。

韋堅信測量師行許偉國表示,上述衙前塱道56至66號項目,佔地約7,009方呎,現規劃為住宅(甲類)2用途,地積比率為九倍,當中商舖部分為1.5倍,而住宅部分則7.5倍,即可建總樓面約63,081方呎。由於上址地契屬舊契,故新買家無需補地價可重建發展,故吸引不少大財團垂青,項目終由一財團以接近業主意向價2億元購得。據悉,原業主盧華去年十一月時意向價高約2.9億元,迄至金融海嘯爆發,至上月輾轉調低叫價至約2億元。

近年財團對勾地表內土地的興趣極淡,如上一個財政年度,僅拍賣售出西貢白沙灣一幅蚊型洋房地,作價1,650萬元。至於今年度亦暫只有上水石湖墟新豐路一幅住宅獲勾出,並安排下周二拍賣,美聯昨料成交價約3,900萬元,較原先估計高逾一成。

第一太平戴維斯稱,銅鑼灣希雲街44至46號今日根據《土地(為重新發展而強制售賣)條例》以公開拍賣形式出售,底價為7,050萬元。

至於新地近期積極推盤,除在港推售太子道東譽.港灣外,同系的廣州玖瓏湖過去周六、日,成功售出項目1期悅源首批85個獨立別墅,套現10億元(人民幣.下同),平均每平方米約2萬元,短期內加推第二批單位。

兩油站地2.2億售出
此外,土地註冊處資料顯示,觀塘協和街康平大廈地下B舖以1,922.8萬元售出,買家為市區重建局。另灣仔會展中心辦公大樓低層01室成交呎價逾1萬元,料創該廈金融海嘯後呎價新高。

地政總署昨公布,招標售出赤柱及粉嶺各一幅加油站用地,兩幅地價共2.28191億元,買家為埃克森美孚香港有限公司。
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Old April 30th, 2009, 07:44 PM   #680
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Quote:
Originally Posted by roneys_today View Post
I haven't seen anything mentioned about this on here yet:



it's a new hotel tower for PolyU by the tunnel entrance in TST. already well under construction and rising fast. Architects are Rocco Design, the people behind most of new TST as we know it - one peking, the peninsular extension, that building with the canon sign on it and iSquare. No info on how big this one is but it'll look enormous next to it's small neighbours.

more info on the Rocco site: http://www.roccodesign.com.hk/institutional.htm

progress is currently at the point of the first bridging between the two lower wings. massive already.
PolyU's got some massive projects - by 2012, they'll have added three other extensions (one residence hall in Ho Man Tin, another massive building north-west from the current campus, just across the street with an underground passage, and the Zaha tower, in addition to this and it's two Community College Campuses, as well as something over in Mainland China.
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