daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > City/Metro Compilations

City/Metro Compilations Help report active highrise/urban developments occurring in your city to the global SSC community.



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old August 26th, 2010, 05:59 PM   #1021
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

Opinion : Capital gains tax can help cool property market
19 August 2010
South China Morning Post

Few would disagree that the Hong Kong residential property market is surging far beyond the means of the average would-be homeowner.

The recent cooling measures such as prohibition of confirmor transactions - resales before a purchase is completed - suggest that speculators who hold properties for a short time, hoping for a quick jump in capital value, are a major force in driving prices up to unrealistic levels. It is often forgotten that high prices also hurt investors - those who hold units for a longer time, renting them out as a source of income - because rentals cannot rise as fast as prices. Lower yields make for a poor investment, and potential investors are priced out of the market.

Speculators are supposedly liable to profits tax on capital gains if it can be shown that they are primarily in the business of selling property rather than investing in it, but this can be a tricky concept to prove in practice. There is, however, a more effective means of controlling speculation - capital gains tax.

In overseas models, capital gains tax usually does not apply to an individual's principal residence. Owner-occupiers moving home would therefore be unaffected. For others, tax could be paid on a tapering basis. For example, in France 16 per cent tax is paid on capital gains when a property is resold within the first five years. After the initial five years the tax decreases with each subsequent year, until after 15 years there is no liability at all to tax on capital gains. The periods could of course be shortened for the Hong Kong market.

A capital gains tax would stabilise property prices, helping people to own their own homes, and, perhaps just as importantly, shift the remaining market to favour investors rather than speculators. The sight of units standing empty waiting to be "flipped" may then also become a thing of the past.

The introduction of a new tax is never popular, as the debate on sales tax a few years ago clearly demonstrated.

However, if the current measures do not rein in the property market we may need to consider further measures.

In doing so we should place the interests of homeowners - and investors who provide homes for others to live in - before those of speculators.

Steve Ryder, Mid-Levels
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote

Sponsored Links
Old August 28th, 2010, 03:46 PM   #1022
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

Home headache prompts rent-and-buy solution
24 August 2010
The Standard

An academic has called for a rent- and-buy scheme to help first-time homebuyers.

``The supply of public housing estates should not be the only proposal to tackle the rising property prices,'' Polytechnic University professor Eddie Hui Chi- man said.

``I suggest a rent and buy scheme with the help of real estate developers,'' said Hui yesterday after a meeting with Chief Executive Donald Tsang Yam-kuen over his policy address.

Hui said such a scheme may be implemented in various ways, including zero downpayments.

``People may rent a unit for five years. Should they then decide to buy the premises, the rent paid can be used as a downpayment.''

An in-depth study on applicant suitability and subsequent subsidies or loans are also necessary for the scheme, Hui said.

He also emphasized the risk people take when, lured by low interest rates, they purchase property at a time of rising prices.

``They may suffer later when the rates rise drastically,'' said Hui, suggesting the government keep an eye on the long-term development of the property market without being seen to encourage speculation.

``There should be more land supply in response to the growing number of married couples.''

University of Hong Kong department of professional legal education assistant professor Eric Cheung Tat- ming said government should lead a ``caring society.''

``Government can also propagate the culture of social responsibility,'' said Cheung, adding cooperation from big corporations must be sought. ``The gap between the rich and poor is widening, and government should take action to relieve social unrest.''

Meanwhile, other academics focused on the issue of an aging population. Wong Hung, associate director at the Chinese University of Hong Kong center for civil society studies, called for a universal retirement protection plan.

Helena Wong Pik-wan, General Education Centre lecturer at the Hong Kong Polytechnic University, wants more welfare for the elderly.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old August 30th, 2010, 06:10 PM   #1023
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

Auction may revive flat sales
The Standard
Monday, August 30, 2010







The government may rake in up to HK$1.1 billion for a Kowloon Tong site in an auction that could breathe new life into the secondary home market where sales have plunged to a 27-week low.

The 25,823-square-foot site at 1 Ede Road is expected to fetch between HK$930 million and HK$1.1 billion tomorrow, according to four surveyors.

Given a gross floor area of 77,469 square feet, the accommodation value could be be HK$12,000 to HK$14,200 per square foot.

Midland Surveyors director Alvin Lam Tsz-pun said property development and capital inflow are long-term, so a competitive atmosphere at the auction is unlikely to be affected by short-term market cooling.

His valuation of HK$1.02 billion is 20 percent higher than a month ago.

Slacker rules on joint development - with a larger plot at 3 and 5 Ede Road on the application list - will make the site more attractive, surveyors said.

"If the same developer owns both sites, it can apply for lease modification," said Ringo Lam Chun-chiu, valuations director at AG Wilkinson & Associates. "The developer can build an underground car park and a clubhouse for joint use."

He believes developers are willing to pay a premium for 1 Ede Road, which he values at HK$1.1 billion.

Midland expects the site to be developed into low-rise buildings with around 50 homes of about 1,500 sq ft each.

Savills forecasts the average selling price for completed homes can reach HK$17,000 psf . There were four deals this month at nearby One Beacon Hill and Beacon Heights, averaging around HK$14,000 and HK$17,000 psf, said Centaline senior sales director Matthews Lee Tze-ming.

Lee admits transactions have halved, but "sellers believe prices will be better after the auction. On the other hand, buyers may expect new [home] measures in the policy address."

Total secondary transactions over the weekend fell to just 26, down from 29, while the number of primary homes launched dropped to 417 as of Friday, from 1,513 in July, Midland Realty said.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old August 31st, 2010, 07:20 AM   #1024
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

Jockey Club boss bets on flats at his final hurdle
The Standard
Tuesday, August 31, 2010

Retiring Jockey Club chairman John Chan Cho-chak is all for the resumption of the Home Ownership Scheme.

But the government must ensure that the scheme is not seen as interfering with market mechanisms, Chan warned.

Citing his own experience, the 67-year-old said most youngsters need help from their families to get started on their first homes.

"HOS flats are cheaper and the mortgages easier to pay off," he told a media gathering yesterday.

He officially steps down as the Jockey Club chairman today, with Brian Stevenson taking over.

The former civil servant bought his first home in 1967.

Property prices at the time had been adversely affected by riots in what was then British-ruled Hong Kong.

Chan's 1,200 square foot home on Waterloo Road Hill, an upper-class residential area, cost around HK$70,000. That was equivalent to years of earnings for an average worker.

"At any point in time, youngsters wanting to buy their first home will need some sort of help from the family," Chan said. It was his father who made the downpayment for him.

But Chan, then a junior civil servant, had to pay HK$1,000 a month to the bank as mortgage.

The top executive of Hong Kong's biggest donor also advised youngsters to aim lower when buying a home.

"You should work your way up. Target the smallest flat and trade up slowly."

Turning his attention to racing, Chan said the equestrian facilities for the Guangzhou Asian Games will be turned into a training base for the Jockey Club when the tournament ends in November.

Construction work for the Conghua training base will be completed by 2014.

Racehorses from the territory can then be trained there.

"The mainland facilities will be more modern and spacious. It will not be two to three-story buildings," Chan said.

The club hopes to increase the number of horses from 1,200 to 1,400 once the new base is opened.

The base will also include an uphill track and other facilities.

Chan said the stables at Sha Tin Racecourse are in need of renovation.

They were built more than 30 years ago on reclaimed land that has been sinking each year.

He also renewed the call for a change in the betting duty system.

The club has suggested that the government scrap the double taxation system and lower the betting rate to attract revenue from overseas.

But the man who helped stabilize the Jockey Club revenues by increasing the number of racing days by five, said such a policy change may take a long time to materialize.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 5th, 2010, 07:32 PM   #1025
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

Rehab school renews push for Mui Wo
The Standard
Friday, September 03, 2010

The principal of Christian Zheng Sheng College has renewed his call for the government to speed up the school's relocation to Mui Wo.
Alman Chan Siu-cheuk said there is great demand for the drug rehabilitation school, with at least 20 inquiries from parents each week. Several employers have also offered jobs to graduates.

However, the relocation is being opposed by Mui Wo residents and the Education Bureau has been sitting on the school's application to join the 3-3-4 secondary education stream.

"The government says it has been bargaining with Mui Wo residents but still needs more time," Chan said.

In addition, he said plans to temporarily expand the current site are still being put on hold.

A spokesman from the Narcotics Division of the Security Bureau said it has been actively exchanging views on temporary improvement measures, long-term reprovisioning arrangements and other related matters with the Christian Zheng Sheng Association.

"We have all along supported the proposal in principle, which is in line with the government's anti-drug policy," the spokesman said.

"The Legislative Council education panel is following up the matter. The administration will respond to members' suggestions and provide a progress report later this month," the spokesman said.

An Education Bureau spokeswoman said the Education Ordinance would be strictly followed when processing the application to join the secondary stream.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 6th, 2010, 03:56 AM   #1026
Shezan
BANNED
 
Join Date: Jun 2007
Location: The 80s
Posts: 16,216
Likes (Received): 593

New Cultural District looks nice, and will be in a strategic position
Shezan no está en línea   Reply With Quote
Old September 8th, 2010, 04:50 AM   #1027
Insane alex
Stockholm rules!
 
Insane alex's Avatar
 
Join Date: Aug 2004
Location: Stockholm, Sweden/ Gold Coast, Australia
Posts: 1,738
Likes (Received): 23

Quote:
Originally Posted by hkskyline View Post
These are projects and developments. Yes, they're relevant. If you want pictures, others are posting pictures as well. Not all projects have renderings. Not all projects have gotten to that stage yet. I'd be more than happy to post more pictures but oftentimes they are just not available. Reality is not so idealistic after all.
Rehab school? Your latest article you have posted... How is that even relevant to this forum at all? I mean what's the point in posting these kind of articles and this is not the first irrelevant article you've posted. Nobody comments on them and it just ruins the thread. You have probably stood for 80% of all comments in this thread and that just says something... I don't even think that anyone follows this thread any longer because of your irrelavant article spamming... And it's a shame because HK is one of the top skyscraper cities in the world!

So, how do we get this thread going again? Well, as i said earlier we need more pics and updates and news of actual projects like infrastructure, skyscrapers, etc. What we can exclude are news articles of such sorts as market values, restaurant openings and rehab school, etc. I know it might not be easy finding renders and update pics but I do however know that once and a while you do get hold relevant projects and pics. So post them and in the mean time don't waste space in this thread for irrelevant articles. In that way I think we'll have more followers for this thread.

Cheers!
__________________
Stockholm projects

http://www.skyscrapercity.com/showthread.php?t=449245
Countries i've been to: Australia, Austria, Canada, Brazil, China, Denmark, Estonia, Finland, France, Lichtenstein, Germany, The Netherlands, Latvia, Italy, UK, USA, Norway, Spain, Sweden, Switzerland, Hungary, Slovakia, Slovenia, Hong Kong.
Insane alex no está en línea   Reply With Quote
Old September 8th, 2010, 07:53 PM   #1028
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

Quote:
Originally Posted by Insane alex View Post
Rehab school? Your latest article you have posted... How is that even relevant to this forum at all? I mean what's the point in posting these kind of articles and this is not the first irrelevant article you've posted. Nobody comments on them and it just ruins the thread. You have probably stood for 80% of all comments in this thread and that just says something... I don't even think that anyone follows this thread any longer because of your irrelavant article spamming... And it's a shame because HK is one of the top skyscraper cities in the world!

So, how do we get this thread going again? Well, as i said earlier we need more pics and updates and news of actual projects like infrastructure, skyscrapers, etc. What we can exclude are news articles of such sorts as market values, restaurant openings and rehab school, etc. I know it might not be easy finding renders and update pics but I do however know that once and a while you do get hold relevant projects and pics. So post them and in the mean time don't waste space in this thread for irrelevant articles. In that way I think we'll have more followers for this thread.

Cheers!
This article shows yet another manifestation of the new NIMBY-ism movement that has ignited in Hong Kong of late. The move would result in various construction work including renovations of the now-vacant site and also slope-strengthening work.

If you do not understand the underlying themes behind this project, I suggest you ask, because this project is very much relevant in a projects and construction thread. It highlights a very important part of how Hong Kong is now redeveloping and protecting its existing neighbourhoods. It's not just about pictures and tall buildings. There are plenty of smaller projects happening around the city that are making an impact. If it's a big tall building popping up, I would create a thread in another sub-forum of the developments section already. This thread is designed to showcase other important projects that may not be tall buildings but deserve a mention.

I would forgive your ignorance on this very relevant article. Those who understand and know the local scene would most certainly agree. Cheers.

Drug school must shape up
15 April 2010
The Standard

Christian Zheng Sheng College has been given conditional approval to occupy a vacant secondary school in Mui Wo and become the city's first formal drug rehabilitation school.

However, it needs to win the blessing of Mui Wo residents and satisfy government requirements with regard to its finances before it can move to the former premises of the New Territories Heung Yee Kuk Southern District Secondary School.

Education Minister Michael Suen Ming-yeung said yesterday the government supports the relocation in principle.

``But more detailed information is needed, particularly on operations and liabilities after the (Christian Zheng Sheng Association) and the school announced they would split their accounts last year,'' Suen said.

``More important, we have to consider the concerns of the public and Mui Wo residents.

``Therefore, the earlier they submit the details, the earlier we can proceed with the relocation and enter into a dialogue with the residents.''

He estimated the whole procedure could take more than a year.

The Civil Engineering and Development Department will finish strengthening a slope near the school at the end of this year.

The Social Welfare Department, however, pointed out that while the number of students at Zheng Sheng's Ha Keng institute exceeded capacity, its Cheung Chau institution was underused.

Suen also said that for Zheng Sheng to operate a full 3-3-4 secondary institute it will have to produce a proper teaching timetable, flexible use of classrooms and detailed budget for the next three years.

Zheng Sheng College principal Alman Chan Siu-cheuk welcomed the support but urged the government to be more specific ``on what exact documents we must provide.''

Mui Wo Rural Committee vice chairman Tony Tsang Wan-chuen said residents would not compromise unless the government opens a school in the district to meet the demands of their children.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 8th, 2010, 09:32 PM   #1029
Insane alex
Stockholm rules!
 
Insane alex's Avatar
 
Join Date: Aug 2004
Location: Stockholm, Sweden/ Gold Coast, Australia
Posts: 1,738
Likes (Received): 23

I understand your point of view. However my point is that this thread isn't getting that much comments anymore and I think it is because of these articles of smaller projects and such your posting. When it comes to HK i believe people have high expectations and thats why you don't see these types of ''smaller'' news articles in the other threads in this section of the forum if you compare to other cities. These types of articles are well suited for the dedicated HK thread in the asia section. Look at London's projects & construction thread for example... It's well structured and they only post the bigger projects there. I believe that's why they have a lot of commenters. The smaller london projects are posted in the UK section. That's my suggestion how we can make this thread popular again. But that's up to you what you decide. I just think it could be good to have a good structure and to just post the bigger projects here that way more people will probably comment on this thread.

Is there anyone reading this thread that can agree with me? If so please make yourselves heard!
__________________
Stockholm projects

http://www.skyscrapercity.com/showthread.php?t=449245
Countries i've been to: Australia, Austria, Canada, Brazil, China, Denmark, Estonia, Finland, France, Lichtenstein, Germany, The Netherlands, Latvia, Italy, UK, USA, Norway, Spain, Sweden, Switzerland, Hungary, Slovakia, Slovenia, Hong Kong.
Insane alex no está en línea   Reply With Quote
Old September 8th, 2010, 10:37 PM   #1030
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

Quote:
Originally Posted by Insane alex View Post
I understand your point of view. However my point is that this thread isn't getting that much comments anymore and I think it is because of these articles of smaller projects and such your posting. When it comes to HK i believe people have high expectations and thats why you don't see these types of ''smaller'' news articles in the other threads in this section of the forum if you compare to other cities. These types of articles are well suited for the dedicated HK thread in the asia section. Look at London's projects & construction thread for example... It's well structured and they only post the bigger projects there. I believe that's why they have a lot of commenters. The smaller london projects are posted in the UK section. That's my suggestion how we can make this thread popular again. But that's up to you what you decide. I just think it could be good to have a good structure and to just post the bigger projects here that way more people will probably comment on this thread.

Is there anyone reading this thread that can agree with me? If so please make yourselves heard!
That is because there are many themed threads in the General and Highrises section for specific projects whereas for many other cities, forumers don't maintain this separation and accumulate it all in a projects thread.

I don't think posting bigger projects only provides a full view of a city's development activity. Since I have the ability to maintain both project and general threads, it is far easier to discuss key projects in a dedicated thread rather than accumulate them together and mess up the sequencing. Even before I started posting a more comprehensive array of projects, this thread was quiet from replies but there were plenty of views.

I personally don't agree the more replies, the better a thread is. A porno thread will definitely get a lot of replies. I look at thread views as a more important figure.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 8th, 2010, 11:23 PM   #1031
Insane alex
Stockholm rules!
 
Insane alex's Avatar
 
Join Date: Aug 2004
Location: Stockholm, Sweden/ Gold Coast, Australia
Posts: 1,738
Likes (Received): 23

Well then you could do this: Post the bigger projects here and create a separate combined thread for the smaller projects. That way people have a comprehensive overview on what's going on with the bigger and smaller projects. Now it's all just tons of articles of smaller projects with no overview at all.

I don't agree with you, both views and comments makes a thread a good thread. Not just views. What would be the point with a forum if no ones comments. Also I don't think a full view of a city's development activity is necessary here, I don't even think people care about the everything going on in a city. Posting everything going on in a city is too much, especially regarding HK size! There is SOOO much going on. As I said earlier a full view of the city is only suited for the asian section, not here.
__________________
Stockholm projects

http://www.skyscrapercity.com/showthread.php?t=449245
Countries i've been to: Australia, Austria, Canada, Brazil, China, Denmark, Estonia, Finland, France, Lichtenstein, Germany, The Netherlands, Latvia, Italy, UK, USA, Norway, Spain, Sweden, Switzerland, Hungary, Slovakia, Slovenia, Hong Kong.

Last edited by Insane alex; September 8th, 2010 at 11:31 PM.
Insane alex no está en línea   Reply With Quote
Old September 13th, 2010, 09:29 PM   #1032
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

Quote:
Originally Posted by Insane alex View Post
Well then you could do this: Post the bigger projects here and create a separate combined thread for the smaller projects. That way people have a comprehensive overview on what's going on with the bigger and smaller projects. Now it's all just tons of articles of smaller projects with no overview at all.

I don't agree with you, both views and comments makes a thread a good thread. Not just views. What would be the point with a forum if no ones comments. Also I don't think a full view of a city's development activity is necessary here, I don't even think people care about the everything going on in a city. Posting everything going on in a city is too much, especially regarding HK size! There is SOOO much going on. As I said earlier a full view of the city is only suited for the asian section, not here.
Then what is the difference if I'm creating a new thread for smaller projects, which I am already doing here? The big projects have their own dedicated threads already. I don't see how the current setup is any different from what you are proposing.

I also find it hard to believe a thread dedicated for smaller projects can have a true overall theme either. The moment you combine different things together, you expect some level of mutual exclusiveness.

I also fail to see how comments are a meaningful gauge of people gaining knowledge of the situation. I also don't expect people to leave short comments just to prove they were here. It doesn't add to an intelligent discussion and is no better than not leaving comments at all. When I see things like 'I agree' or 'Good project', they score as 2 replies but a lot of mods would regard these posts repeated over and over as spam.

I strongly believe without content, there is no basis for discussion. While views and replies are important, I'm not going to sacrifice or withhold content because either is lacking. If the information is relevant, it should be here. If I don't post because people are not replying, then everyone, including all the readers, will not be able to benefit from the knowledge. This is the same for any city compilation thread in this section.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 15th, 2010, 08:51 PM   #1033
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

29.5 hectares may go to build flats
The Standard
Wednesday, September 15, 2010

The Town Planning Board is considering rezoning as much as 29.5 hectares of industrial and business land for residential use as part of an official bid to boost home supply.

The board will hold a formal discussion on Friday about rezoning the sites, which have an existing gross floor area of about 840,000 square meters, according to Sing Tao Daily, sister publication of The Standard.

A vast majority of the sites are in the New Territories - Fan Ling, Sha Tin, Yuen Long, Tuen Mun and Tsuen Wan.

The biggest industrial area to be rezoned comprises 10 sites in Siu Lek Yuen, Sha Tin, amounting to 7.4 ha.

The only urban area is in Tai Kok Tsui, at 0.2 ha the smallest on the list.

Development chief Carrie Lam Cheng Yuet-ngor has said the government is trying its best to lift residential land supply via the application list system and by taking a pro- active approach to putting sites on the market.

Another 30.2 hectares of industrial sites will be rezoned to specified industrial business, columbarium and other uses.

The total existing GFA proposed to be rezoned for non-industrial use is about 920,000 sq m, the board said in an official document.

This is slightly larger than the fall in manufacturing industries' demand for factory floor space by 2020, estimated at 850,000 sq m of GFA, the document says.

If all the rezoning proposals are taken on board, the total purely industrial zones in the territory will slip by about 18.7 percent to 241.6 ha, it said.

Between 2001 and 2003, the board rezoned around 196.5 ha of industrial land for specified industrial business use, and another 48.6 ha for non-industrial use.

Review of the rezoning of a 0.8 ha area in Kennedy Town is expected to be complete in the second half, while the rezoning of a 5.2 ha Fan Ling area is awaiting formal review.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 18th, 2010, 09:24 AM   #1034
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

Residents flush with fury at third toilet drought
18 September 2010
South China Morning Post

The Happy Valley resident whose toilet suddenly stopped flushing probably had a point.

"The government will spend HK$250 billion on 10 major infrastructure projects - so why can't it repair toilet water pipes in Wan Chai?"

The smallest rooms of homes and businesses in some of Hong Kong's busiest neighbourhoods have lacked this essential commodity for three days in the past week.

From flats in Tai Hang and Happy Valley to shops and restaurants in Wan Chai and even the glittering modern tower of Times Square in Causeway Bay, tens of thousands of residents, tourists, shopkeepers and customers have been unable to flush toilets after ageing salt-water pipes burst three times in quick succession.

It happened first on Friday night last week, again on Tuesday and for the third time yesterday when a break was discovered at the junction of Gloucester and Marsh roads.

Repair work was expected to be finished last night and normal supply was expected to resume this morning.

Times Square, the city's busiest shopping mall, had to devote extra staff to toilet duty, washing away the waste with buckets of fresh water.

"This is annoying and actually would cause some hygiene problems," said Wan Chai resident Freeman Lai, who was affected twice. "I would not expect things like this to happen so frequently in an advanced city like Hong Kong."

The Water Services Department said most of the pipes in the district were more than 20 years old and there had been more than 300 bursts this year. A programme to replace 3,000 kilometres of 7,800 kilometres of pipes carrying fresh and flushing water began in 2000 and was to be completed by 2015, but so far only 45 per cent has been done.

A spokesman said the department was considering giving the busy Wan Chai-Causeway Bay shopping area priority.

"The pipes concerned are under our renewal scheme but not scheduled as our first priority," he said.

Patrick Lau Sau-shing, legislator for the architectural, surveying and planning functional constituency, said the department should speed up renewal of ageing water pipes.

He said pipes in Hong Kong were buried at a rather shallow level, which would cause traffic problems when they burst.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 18th, 2010, 06:48 PM   #1035
EricIsHim
Registered User
 
Join Date: Jun 2003
Location: Hong Kong
Posts: 4,397
Likes (Received): 28

The forth and fifth times are going to come soon if the natural fatigue of the pipes are decaying at the same rate along the whole system. Some serious problem for WSD there to replace the old pipes.
__________________
EricIsHim
My PhotoBucket
EricIsHim no está en línea   Reply With Quote
Old September 21st, 2010, 04:04 PM   #1036
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

New homes up for grabs
15 September 2010
The Standard


Oceanaire

Two developers look set to launch their projects even as policy uncertainties weaken sentiment in the property sector.

Cheung Kong Holdings (0001) will put its first lot of at least 50 homes at Oceanaire on the market later this month.

The developer intends to sell 600 homes at the 1143-unit project in Ma On Shan this year, Cheung Kong Real Estate director Francis Wong See-chung said.

The target price for penthouses with sea views at the six-building development is at least HK$15,000 per square foot or HK$15 million, Wong said.

Meanwhile, Nan Fung Development intends to launch Queen's Cube in Wan Chai next month, with a reference price of HK$17,000 to HK$18,000 psf.

The Consumer Council in July advised developers and agents against stating non-official intended prices before official launches.

Nan Fung's redevelopment with the Urban Renewal Council on Queen's Road East will provide 96 homes, ranging from 400 to 600 square feet. Managing director Donald Choi Wun-hing said the single-building project will hit the market after National Day and the chief executive's October policy address.

About 20 percent of the buyers are likely to be mainlanders.

Flats will be allocated on a ballot basis, Choi said, with up to two-thirds of the total homes on offer in the first batch.

Riding the recent fervor for Kowloon Tong, the price list for three more homes at Meridian Hill was released yesterday.

Sized between 1,275 and 2,098 sq ft, the three homes will go for HK$18,200 psf to HK$18,500 psf, or HK$23.6 million to HK$38.3 million.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old September 30th, 2010, 06:46 PM   #1037
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

Cemeteries bury land auction
The Standar
Thursday, September 30, 2010



A government land auction was spooked yesterday - for the first time in 16 years a site had to be withdrawn. The urban plot in Chai Wan faces six cemeteries and not a single developer was interested.

But a site in Fan Ling attracted 43 bids and was sold to Sun Hung Kai Properties (0016) for a better- than-expected HK$459 million.

Its accommodation value of more than HK$3,000 per square foot is a record for North District.

Eight surveyors had expected the 19,418-square-foot plot in Lin Shing Road, Cha Wan, to fetch HK$620 million to HK$930 million. But developers ignored it despite an opening bid of HK$530 million.

Lands Department deputy director and auctioneer Graham Ross said the withdrawal was "an unusual and a rare occurrence." It last happened in 1994 when a Yuen Long industrial site was withdrawn.

Developers appeared concerned about the cost to maintain and stabilize a large slope nearby. It was natural for the site to be withdrawn because of development risks and undefined maintenance costs, said Stewart Leung Chi-kin, New World Development (0017) executive director and vice chairman of the Real Estate Developers Association.

"When I sell the units, it's unfair for buyers to bear all risks." Leung said. "If I'm to bear the risks, it's not worthwhile to make such a big investment."

Ringo Lam Chun-chiu, valuations director at AG Wilkinson & Associates, said the slope could drive construction costs up by 20 percent. He said it would be difficult to build units that will not have cemetery views.

Shares of top developers closed higher despite the auction hiccup.

SHKP needed just 25 minutes to secure the 27,556-sq-ft plot in Luen Wo Hui, Fan Ling, beating five other firms. Knight Frank expects homes on the site to sell for as much as HK$6,000 psf. This compares with HK$2,659 to HK$3,328 psf at eight nearby developments. Centaline Property expects prospective sellers in the neighborhood to raise asking prices by 5 to 10 percent.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old October 2nd, 2010, 03:30 PM   #1038
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

Hong Kong home sales climb to highest level since 1997
2 October 2010
South China Morning Post


Valais

Developers have had a busy time these past two days, with homebuyers, including many from the mainland, snapping up more than 1,000 units at three new projects as the "golden week" holiday kicked in.

The number of registered property transactions in the city reached 105,925 with a total value of HK$43.58 billion for the nine months to September 29, according to Ricacorp Properties. The agency said both sales volume and value were the highest since 1997.

Cheung Kong (Holdings) said it had sold 890 units at Oceanaire in Ma On Shan since it opened for sale on Thursday. It has pulled in a total of HK$6 billion so far.

Sun Hung Kai Properties (SHKP) and Chinachem Group generated strong buyer response for their luxury residential projects in Sheung Shui and Kowloon City, partly driven by mainland investors. While SHKP declined to disclose the sales volume for The Valais, people familiar with the figures said about 67 units were sold yesterday, each costing between HK$20 million and HK$30 million.

The developer released the first batch of 28 units at HK$8,388 per square foot. The sizes range from 2,600 to 4,500 sq ft.

"One of our clients from Shenzhen has purchased one for around HK$20 million, to be used for holiday visits to Hong Kong," said Sammy Po Siu-ming, New Territories director for Midland Realty.

Chinachem sales manager Ng Shung-mo said it had sold 80 units at Billionaire Royale in Kowloon City as of 4pm yesterday.

"About 30 per cent of the buyers are from the mainland, with some purchases made under the migrant investment scheme," he said.

Under the Capital Investment Entrant Scheme, overseas investors can obtain residency in Hong Kong by making a capital investment in certain permissible assets, including property. The minimum investment is HK$6.5 million.

Ng said the units had been sold for HK$8 million to HK$14.4 million since sales started at 11am.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old October 7th, 2010, 03:50 AM   #1039
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

Po Toi to farm the wind for quiet power
The Standard
Wednesday, October 06, 2010

A new group has been set up to use local technology in building the territory's first wind farm.

The nongovernmental group, SU.RE NGO, plans to build the farm on Po Toi Island, southeast of Stanley.

Christian Masset, the group's vice chairman, said wind speed ranges from eight to 13 kilometers per second on the island, offering the "best setting" for implementing the project.

"We chose Po Toi because it's not connected to the grid and its electricity is produced by diesel generators. The electricity is switched off at night, it's very noisy and there is a lot of nuisance in their backyards," Masset said.

The group hopes to open the wind farm next year, producing 70 kilowatts of electricity per hour.

It aims to educate the public on renewable energy as well as manage energy projects.

The latest project will require the installation of 5,000 micro turbines and connecting the system to every household on the island, at a cost of approximately HK$5 million.

The micro turbines have been designed by a local company, Motorwave Group.

It will be the first time for the turbines to be used on a wind farm, although the machinery already has been been in use for educational and small electricity production in schools and other locations.

Masset said the group hopes to raise the HK$5 million needed from corporations, sponsors and the public. The Po Toi project is "a way to raise awareness in the community and put Hong Kong in the front line of the cities bringing solutions to their pollution problem."

The group added: "The simplicity of this system makes it easy and cost- effective to maintain, and its modular structure means that the system always keeps on running."

Po Toi has 30 permanent inhabitants, but the population swells each weekend with more than 200 visitors.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote
Old October 10th, 2010, 07:22 PM   #1040
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,508
Likes (Received): 17817

Most people in homes race see long run ahead
The Standard
Friday, October 08, 2010

Up to 60 percent of people in the market for residential properties see no hope of buying a first home or adding to their portfolio over the next decade if prices stay constant, a Citibank survey finds.

Of the 1,063 people polled last month, 41 percent of whom are homeowners, only one- fifth of the respondents are confident of buying a flat within five years. Around 49 percent believe prices will increase in the next two years.

Hang Seng Bank has warned that homes are overvalued and that low interest rates are making them appear affordable.

And Citibank director of consumer lending Lawrence Lam warned: "US quantitative easing means interest rates won't rise until 2012, but our view is that three-month HIBOR will rise to 0.6 percent by year-end."

The HIBOR, or Hong Kong interbank offer rate, was 0.35 percent yesterday.

Lam said banks are unlikely to offer lower mortgage rates or caps in future.

On the average, a little more than half of those respondents aged between 18 and 29 as well as those 60 or above say the government should support first-home buyers. That support wanes to 34 percent for those in the 30-44 and 45-59 groups.

Midland Realty believes the government will exercise policy caution. "We expect the government to increase land supply gradually to keep price growth at moderate levels," said chief analyst Buggle Lau Ka-fai.

The potential for homes in next year's land application list should be increased to between 13,000 and 14,000 from the current 9,000 so that, based on a sale rate of about 50 percent, supply will be 6,500 to 7,000 homes.

As of last month, the current list can provide around 3,750 units - 2,940 from sites triggered for sale and 810 units from auctions initiated by the government.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote


Reply

Tags
hong kong

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 01:35 AM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2017, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2017 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

Hosted by Blacksun, dedicated to this site too!
Forum server management by DaiTengu