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Old January 9th, 2013, 11:44 AM   #1541
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Gas surges through world's longest pipeline

BEIJING, Dec. 30 (Xinhua) -- China's second west-to-east gas pipeline, the world's longest line, became fully operational when the last section of the line opened on Sunday, China National Petroleum Corporation (CNPC) announced.

The 8,704-kilometer pipeline, including one trunk line and 8 regional lines, will carry natural gas from central Asia to as far afield as Shanghai in east China and Guangzhou and Hong Kong in south China.

The 142.2 billion-yuan (22.57 billion U.S. dollars) pipeline traverses 15 provincial regions and will benefit about 500 million people, according to the CNPC.

The pipeline's annual natural gas transportation capacity is 30 billion cubic meters. It runs from Huoerguosi, located on the China-Kazakhstan border in northwest Xinjiang Uygur Autonomous Region, to Hong Kong.
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Old January 10th, 2013, 06:22 AM   #1542
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Sites grabbed as developers remain bullish
The Standard
Thursday, January 10, 2013

Two residential plots fetched nearly HK$3 billion, underscoring the confidence of developers ahead of next week's policy address, which is expected to be heavy with land-supply measures.



Wing Tai Properties (0369) and Manhattan Properties outbid nine other contenders to buy a 92,463-square-foot site at Kau To Shan, Sha Tin, at a higher-than-expected HK$1.47 billion.

With a gross floor area of 142,386 sq ft, the site costs HK$10,302 psf - higher than the HK$9,551 psf in the neighboring site that the consortium also won in August.

A Wing Tai spokeswoman said low-rise residential properties will be built on both sites.

Midland Surveyors director Alvin Lam Tsz-pun predicted that future apartments there could cost more than HK$20,000 psf.



A rare Sai Kung offering - a 166,089 sq ft plot in Sha Kok Mei, attracting 14 tenders - went to Sino Land (0083) for HK$1.46 billion, in line with market estimates.

The site, with a gross floor area of 249,133 sq ft, cost HK$5,840 psf. It carries a flat stipulation, in which 240 units have to be built.

"The aggressive bids and competition for both plots reflect the optimism of unfazed property developers amid the cooling measures," Lam said.

The results came as government sources said there is a wide range of short and long-term measures to be announced to boost the land supply.

They said public or subsidized housing will be built in 18 districts, including a 30-story public housing project with 690 flats in Tuen Mun.

More than 500 hectares will be provided through reclamation - including at Lung Kwu Tan in Tuen Mun and Siu Ho Wan on Lantau Island.

And more plots meant for government, institution or community uses will be turned into home developments, while plot ratios of undeveloped land, especially in the Northeastern New Territories, will be raised, the sources added.
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Old January 12th, 2013, 06:52 PM   #1543
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New private hospitals told to think local
The Standard
Friday, January 11, 2013

New private hospitals will be required to provide at least 300 beds, with 50 to 70percent earmarked for local residents.

Services offered should include general medicine, surgery, orthopedics, and gynecology, and only up to 20percent of beds ought be set aside for the highly lucrative obstetrics wards, the government said.

This comes as the results of the tender exercise for two private hospital sites in Wong Chuk Hang and Tai Po, which closed last July, will be announced within a couple of months.

It has been said that the tender exercise has attracted little interest, but Secretary for Food and Health Ko Wing-man said he would let the process continue and its results will determine whether the government will release two other plots for private hospitals - in Tseung Kwan O and Tung Chung.

Executive councillor Bernard Charnwut Chan said his company had considered bidding for the Wong Chuk Hang project, but balked after finding the terms "quite challenging," and that his firm might not be able to meet the requirements.

The 2.9-hectare plot at Nam Fung Path is adjacent to Wong Chuk Hang Hospital, an infirmary for the elderly.

The 4.8-hectare plot at Tai Po Area 9 is behind the public Tai Po Hospital, which provides extended care for elderly, chronically ill and psychiatric patients.

"The new hospitals will be required to provide at least 50 percent of inpatient bed days taken up in a year for services to local residents, with additional score given for a higher percentage commitment of up to 70 percent, to ensure that the priority of the hospital is to meet local demand," the Food and Health Bureau said.

Lawmakers will be briefed on the development of private hospitals at the Legislative Council health panel subcommittee on Monday.

At present, 11 private hospitals provide about 4,000 beds and, in 2011, treated 401,500 patients.

Meanwhile, Pricewaterhouse Coopers, hired to plan the future Health Protection Scheme, will conduct a consumer survey of households to test market response to scheme plans.

Survey findings will be used to refine the design of the standard plans and provide a basis for projecting take-up of the scheme.
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Old January 12th, 2013, 06:56 PM   #1544
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Accountants back Lee land scheme
The Standard
Friday, January 11, 2013


Source : http://www.pbase.com/jonathanwg/kamtin2

The Hong Kong Institute of Certified Public Accountants supports Henderson Land (0012) chairman Lee Shau-kee's idea of converting agricultural sites into homes without paying any land premium.

"Many developers have farmland as land reserves. The government should actively consider various feasible ways to increase land supply to satisfy the housing needs of the public," said Florence Chan Yuen-fan, HKICPA's chairman of taxation faculty executive committee.

The institute is predicting a budget surplus of HK$25.6 billion and a healthy fiscal reserve of HK$694.7 billion by March this year.

It suggests widening marginal tax bands from HK$40,000 to HK$50,000, increasing child allowances from HK$63,000 to HK$70,000 and expanding home loan interest deduction into rental payment deduction.

It also recommends voluntary MPF deductions with an annual cap of HK$60,000.

"This will encourage people to save and reduce government's expenditure in the long term," said Wilson Cheng Kit-sun, HKICPA's convenor of 2013-14 budget proposals subcommittee.

Tax deduction for private health care insurance premiums with an annual cap of HK$12,000 is proposed.

To help SMEs, HKICPA suggests a reduction of corporate profits tax rate to 15 percent for companies with gross income not exceeding HK$2 million, a waiver of business registration fee, an extension of profits tax exemption for offshore funds and exemptions for onshore funds meeting specific criteria.

Such measures will reduce government income by about 4.5 billion, the institute estimates.

A higher first registration tax and annual license renewal fee for polluting vehiclesis also proposed.
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Old January 14th, 2013, 03:24 PM   #1545
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Homes for just $1m ...
The Standard
Monday, January 07, 2013

Tycoon Lee Shau-kee threw down the gauntlet to the government yesterday, saying he should be allowed to build 300-square-foot homes on vast agricultural lands held by his firm without having to paying any extra land premium.

The feisty billionaire and chairman of Henderson Land Development is proposing selling the units at HK$1 million each to ease Hong Kong's growing housing shortage.

Lee said social conflicts would ease if more people were able to buy homes.

Henderson is the biggest holder of agricultural land among local developers, with most of the 42.4 million sq ft over which it holds sway as of June located mostly in the northeast New Territories.

Negotiations over the extra land premium - what Henderson has to pay authorities to convert its farmland to residential or commercial use has dragged on for years.

For some sites, talks have apparently continued for decades, and last year other developers urged the government to speed up such negotiations.

The proposed HK$1 million price tag or HK$3,333 per square feet, is considerably modest compared with flats at Henderson's latest scheme, High Place in Kowloon City. There, a unit with a 182 sq ft saleable area, is selling for as much as HK$4.32 million, or HK$23,736 psf.

Michael Choi Ngai-min, a member of the government's long-term housing strategy steering committee, said Lee's proposal merits a serious consideration, but that the administration has to ensure the developer does not reap extra benefit from such projects.

Alnwick Chan Chi-hing, head of valuation and professional services at Knight Frank, said assuming a construction cost of HK$2,000 psf and the expenses acquiring the land, Henderson would reap very modest profits.

"But these homes can be built alongside private buildings, where other facilities such as a shopping mall can bring extra benefits," Chan said.

But Lawrence Poon Wing-cheung, senior lecturer at City University's building science and technology division, said the HK$1 million price tag looked promising as most of the sites were acquired at about HK$100 psf many years back.

Poon said if the low-cost home project is approved, the government should require homeowners to pay back the premium when they resell their apartments.

As for the general picture of the sector, Lee believes home prices will remain stable, following the imposition of an extra stamp duty to curb housing demand.

"They [ the measures] are focused on eliminating speculation, which is good for society ... some speculators have really pushed up home prices to unreasonable levels, and this is really outrageous."

Lee expects home prices to rise in a stable manner - by 5-10 percent annually for the next two years.

Lee said he hopes Chief Executive Leung Chun-ying can do more. "Anybody can do the job well as Hong Kong is a place where golden eggs are laid."

But he added, "I'm not saying I don't support him [Leung]."

Leung is set to deliver his inaugural policy address next Wednesday.

Lee, a frequent stock market player who is also dubbed Asia's Warren Buffet, forecast the Hang Seng Index would rise to 26,000 by the middle of this year and 28,000 by the year-end.
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Old January 15th, 2013, 06:23 PM   #1546
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Tags reach High Place as developer runs with bulls
The Standard
Monday, January 07, 2013




Photo source : http://eng.28hse.com

Riding on the return of bullish sentiment, Henderson Land (0012) launched its latest project, High Place, at more than HK$22,000 per salable square foot, making it the most expensive residential scheme in Kowloon City.

Around 27 units at the 76-unit development were sold over the weekend.

They are among 46 flats sized from 286 to 433 square feet and bearing price tags of HK$3.95 million to HK$6.28 million, or an average of HK$14,079 psf.

With salable areas of 182-282 sq ft, the price translates to HK$22,032 per salable sq ft on average.

Units at The Opulence, another new Kowloon City project, are on the market for an average of HK$11,000 psf.

Flats at High Place have also been priced higher than the first units on offer at the second phase of The Wings in Tseung Kwan O.

The 780-unit Sun Hung Kai Properties (0016) project will put the first 50 units on the market this week at HK$9,537 psf on average.

A parking space at the project now fetches HK$1.38 million.

The past two days saw about 36 units sold in the primary market, with Henderson taking the lead and selling around 30 at The Reach, Yuen Long.

A mainlander bought a 603 sq ft unit for HK$4.23 million, or HK$7,027 psf, plus another HK$635,000 in Buyer's Stamp Duty.

Meanwhile, the weekend secondary market improved, with 22 deals recorded by Centaline Property Agency at the 10 major estates tracked, up from 17.

This is despite the rule taking effect last Tuesday on disclosure of salable area, under which agents must inform buyers of the net and gross floor areas.

Midland Realty also saw an uptick in secondary sales, with 25 homes changing hands at 10 major estates compared to 21 a week earlier. Both agencies saw the largest number of home sales at City One Shatin.

Separately, Estate Agents Authority chief executive Augustine Ng Wah- keung said most agents are following the new requirements in providing the salable area during flat sales.

But it will take the watchdog four years to check whether all 6,000 property agencies in the territory have amended their promotional materials.
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Old January 16th, 2013, 05:24 PM   #1547
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CE uses Policy Address to detail housing policies
Wednesday, January 16, 2013
Government Press Release Excerpt

The Chief Executive, Mr C Y Leung, today (January 16) used his inaugural Policy Address to lay out the short, medium and long term strategy for dealing with Hong Kong's housing and land problems.

"In recent years, our urban development has taken a disturbing turn," Mr Leung said.

"All too often, there are wrangles over land use and infrastructure projects, leading to sluggish land development and housing shortage."

Mr Leung announced a multi-pronged approach to dealing with the shortage of land and accommodation and he urged the community to show resolve and work in a pragmatic and proactive manner in solving the problems.

The Chief Executive laid out a seven-point plan for increasing the supply of subsidised housing in the short and medium term, including

* Setting a production target to supply a total of at least 100,000 Public Rental Housing (PRH) units over the five years starting from 2018;

* Reviewing and expediting the construction of public housing flats without compromising quality;

* Inviting the Hong Kong Housing Society to build more subsidised housing similar to the Greenview Villa Project;

* Examining projects in the pipeline with a view to increasing their plot ratio;

********************

"To respond more flexibly to society's needs for land, the Government is determined to develop new land extensively and build up an abundant 'land reserve' that can more than meet the short-term demand," Mr Leung said.

"That way, the reserve can be used to meet future demand in a timely manner."

********************

To boost the supply of land for housing, the Chief Executive outlined 10 priority areas:

* Rezone 36 sites, including Government, Institution or Community (GIC) sites and other Government sites, with an area measuring 27 hectares in total, for housing development to provide about 11 900 residential flats;

* Commence the town planning process and rezone 13 sites in Green Belt areas, measuring 57 hectares in total, which are devegetated, deserted or formed for residential use;

* Rezone industrial land for non-industrial uses including a total of 16 sites measuring 30 hectares considered suitable for residential use and providing a total of about 20 400 units;

* Increase the development density of unleased or unallocated residential sites as far as allowable in planning terms;

* Optimise the use of land and, where the original intended use is not required anymore, to convert the land for housing development or other uses that meet the more pressing needs in the community as soon as possible;

* Consider relaxing or lifting a moratorium, which is an administrative measure, currently in force to restrict the sale of new land or modification to lease in Pok Fu Lam and the Mid-Levels, so as to lift development restrictions in these two areas;

* Increase efforts to put into full play the integrated development of mass transportation and residential property, explore vigorously the residential development potential of land along existing and planned railways, and take forward the planning for residential development on land of about 33 hectares in total estimated to provide about 8700 flats;

* Urban Renewal Authority (URA) to supply approximately 4.9 hectares of land in total under its property development projects in the coming four years, estimated to provide about 4700 flats;

* Expedite administrative approval procedures of the Town Planning Board and take other corresponding measures so that land is made available as soon as possible; and

* Develop the former Diamond Hill Squatter Areas (Tai Hom Village), former Cha Kwo Ling Kaolin Mine, former Lamma Quarry and Anderson Road Quarry, which do not involve land resumption, to provide a total of around 15 000 units.

"The 10 measures just mentioned will increase and accelerate housing land supply," Mr Leung said.

"Seven of these measures already will make available over 300 hectares of land for housing, providing about 128 700 units in the short to medium term based on known developments."

For long term supply of housing land, the Chief Executive identified a number of areas for possible development. These include New Development Areas (NDAs) in the North East New Territories and the use of underdeveloped areas in the New Territories North.

Also, the Planning Department will review agricultural land in North District and Yuen Long currently used mainly for industrial purposes or temporary storage, or which is deserted.

The Chief Executive also highlighted the advantages of Lantau Island for development due to its proximity to the west bank of the Pearl River Delta, Qianhai, Nansha and Hengqin, coupled with the availability of the Hong Kong-Zhuhai-Macao Bridge.

He added that reclamation outside Victoria Harbour could yield about 2 000 to 3 000 hectares of land for development.

"Extensive land development takes 10 to 20 years," the Chief Executive said.

"Our young people should recognise that the planning proposals and development options under discussion today are intended to address their future needs.

"It is all too easy for the Government to side-step the problem, but it is today's young people who will have to bear the adverse consequences in future."
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Old January 17th, 2013, 01:52 PM   #1548
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Commercial sites supply to surge
The Standard
Thursday, January 17, 2013

To address the shortage of commercial land supply, the government aims to accelerate the development of the North Commercial District near Chek Lap Kok.

CY Leung said that, with the rapid development of the west bank of the Pearl River Delta coupled with the availability of the Hong Kong-Zhuhai-Macau Bridge and other infrastructure, Tung Chung will have a geographical advantage for logistics, tourism and other industries.

Kowloon East is also seen as having the potential to be another core business district with its 43 million square feet of additional office space.

To expedite the plan, the government will relocate its facilities into two action areas of Kowloon East, which are together expected to provide another 5.38 million sq ft of commercial space.

To energize the potential of Kowloon East, the district will be developed into a low-carbon community and a green belt area, including the waterfront along Hoi Bun Road.

Meanwhile, the first berth and terminal building of the Kai Tak Cruise Terminal will come into operation by the middle of this year.

Leung said the government will review the planning of the Kai Tak Development Area and possibly increase office and housing supply, without compromising the land supply from the area in the next five years.

Up to 14.4 million sq ft has been designated for retail and commercial usage.

Plans are also in the pipeline to convert existing sites of government office buildings and land in Central and Wan Chai into commercial property for development.

In the plan to revitalize industrial buildings, further relaxing of certain restrictions on wholesale conversion may be given.

These include allowing owners to recover the loss in the gross floor area due to alterations in the building structure by making minor changes to the outside of the existing building frame.
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Old January 22nd, 2013, 08:18 AM   #1549
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Change coming to Mid-Levels with ban ending
The Standard
Thursday, January 17, 2013

Tranquil Pok Fu Lam on Hong Kong Island's southwest side could see a facelift in upcoming years with many more apartment towers erected, as the government is looking at relaxing decades-old building restrictions.

As part of efforts to boost home supply after a decade of shortages, Chief Executive Leung Chun-ying said in his inaugural policy address yesterday: "We are actively considering relaxing or lifting a moratorium - which is an administrative measure - currently in force to restrict the sale of new land or modification to leases in Pok Fu Lam and Mid-Levels, so as to lift development restrictions in these two areas."

The so-called Pok Fu Lam Moratorium is a rare town planning measure implemented in the 1970s, although the measure was supposedly temporary.

In view of the poor traffic infrastructure in Pok Fu Lam and Western Mid- Levels, the government would turn down applications for planning changes if they worsened the traffic situation.

As well, the government was barred from selling its land unless approved by the governor or chief executive of the day.

Explaining the intention to relax restrictions, a government source said traffic is expected to improve in the near future, as a number of transport accommodations, such as the MTR West Island and South Island lines, and Central-Wan Chai Bypass, are due to be completed.

Even before the recent infrastructure projects, the district's two major roads - Pok Fu Lam Road and Victoria Road - had undergone numer
ous improvement works, but authorities had not considered abolishing relevant restrictions.

The source added that there are various government land plots, both large and small, in the area that have not yet been fully utilized.

Alnwick Chan Chi-hing, head of valuation and professional services at property consultancy Knight Frank, said the average plot ratio in Pok Fu Lam residential buildings (gross floor area over site area) is about 2.1 times, compared with the five times set out in the district's outline zoning plan.

"It could represent a considerable increase in building density if private homeowners are then allowed to redevelop," Chan added.

One of them would be the redevelopment of the Ebenezer School for the Visually Impaired, he said.

Hang Lung Properties (0101) won redevelopment rights for the land and submitted plans back in 2008, but was rejected by the Town Planning Board.

Paul Zimmerman, a Southern District Council member, complained about the unfair treatment of private land and property the government wants to make use of.

"It should have been removed ages ago. Instead, it was kept and the [University of Hong Kong] expansion and Cyberport development were permitted by various means, while other private owners' land was frozen," he said.

"The application of the moratorium has been inequitable and arbitrary."

Indeed, the government made several exceptions. In 1985, governor Edward Youde partially lifted the moratorium for Kellett Bay in the district to allow building of public rental estates. This became Wah Kwai Estate, completed in 1990. The more recent notable waiver was for Cyberport, situated in Telegraph Bay just below Baguio Villa.

Amid controversy, then-chief executive Tung Chee-hwa approved lifting the moratorium in 2000, and contracted Richard Li Tzar-kai's Pacific Century Cyberworks to develop the area.

The result was more than one million square feet of Grade A office space for information technology-related companies, and the large-scale Residence Bel-Air development with some 2,800 apartments and houses.

Zimmerman suspects the idea for lifting the moratorium is related to plans to redevelop the Wah Fu housing estate, and the judicial review involving 2 Mount Davis Road.

The owners of the latter took the case to court after being barred from redeveloping the property higher than three stories, while the nearby 4 Mount Davis Road is permitted to build up to 160 meters.

However, Zimmerman argues that the new development density should reflect the limitation of transport and traffic between Southern District and the north shore of Hong Kong Island.

Vincent Cheung Kiu-cho, director for valuation at Cushman & Wakefield, said in addition to using government land for homes, the administration may also convert certain green belts into residential land.

"If so, it could have a negative impact on home prices of the nearby low-rise buildings."
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Old January 23rd, 2013, 04:42 PM   #1550
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University faces site challenge
The Standard
Wednesday, January 23, 2013

The latest development regarding the plan to build a private university on the Queen's Hill site in Fan Ling is causing concerns.

As the property is large, there are views within top government echelons that its future use must maximize the site's value.

Therefore, any proposed tertiary institution must be of high standard, and the successful applicant will have to meet more stringent requirements.

Observers said many signs suggest the administration is rethinking its policy on private universities.

Regardless of whether the site will be used for educational or residential purposes, related infrastructure development is a challenge.

For one thing, the narrow road providing the only access to the site now must be widened and upgraded, and that calls for substantial resources - not to mention time.

And as it is a condition that such development costs be borne by the university, it would put a heavy financial burden on the institution.

Even if the operator is able to absorb the costs, there would be implications for the level of tuition fees. Furthermore, private universities have to build their own campuses, so the risk involved could be considerable.

Chu Hai College of Higher Education encountered complications with the construction of its new campus at Castle Peak Bay in Tuen Mun, which is now nearing completion.

I heard that after work had started, the government took back part of the original site for infrastructure development.

While an alternative
plot was provided to compensate for the lost area, the architectural plan had to be amended, which cost money.

The change also delayed work progress, which caused overall construction expenses to escalate as general costs inflated.

But such complications were just considered a hiccup, and Chu Hai's new campus will soon open its doors and help boost student enrollment.

However, construction and financial risks for the larger Queen's Hill project are seen to be substantially higher.

Someone familiar with development pointed out if residential use is added to the site, transportation infrastructure would be a concern.

As the site is remote, such a development isn't expected to happen anytime soon. Siu Sai-wo is chief editor of Sing Tao Daily
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Old January 26th, 2013, 06:02 AM   #1551
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Past brings home realities today
The Standard
Thursday, January 24, 2013

Chief Executive Leung Chun-ying pledged in his policy address to increase housing supply as part of his attempt to reach the administration's target in a few years.

There will be the usual skeptics, of course, but I remember a top official cautioning people at one stage against underestimating the efficiency of the administration.

He said that while the bureaucratic machinery may appear to be sluggish most of the time, it can be rather powerful once the main direction is set.

Measures to cool runaway property prices, for example, were not very successful before 1997, as the hands of the government were tied on land supply.

Then-housing secretary Dominic Wong Shing-wah also lacked the clout to get other departments to fall in line, and felt helpless to stop incessant criticism.

But the situation subsequently turned around completely, once the administration made up its mind to boost land supply.

That increase came at the direction of then- financial secretary Donald Tsang Yam-kuen, while the Housing Authority was also given more power.

As a result, the target of putting 85,000 new housing units a year on the market was reached, with supply even exceeding 100,000 at its peak.

With the market flooded by new public housing as well as sandwich-class flats, private developers moaned, saying it felt as if they were under siege.

But, some people argue, the situation is different now as land supply is limited, while a labor shortage has boosted construction costs.

An old hand in the trade expects the cost of construction to soar to HK$4,000 per square foot by the end of the year.

Coupled with high land prices, he said, there is no risk for those buying homes at HK$10,000 psf.

Listening to such bold assertions, one can only quietly wonder whether the residential market is really as bullish as portrayed.

Siu Sai-wo is chief editor of Sing Tao Daily
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Old January 27th, 2013, 04:36 PM   #1552
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South China Morning Post
Developers wary after slow response to One West Kowloon launch
After a slow response by buyers to One West Kowloon, larger projects are likely to be delayed
Wednesday, 12 December, 2012, 12:00am

Hong Kong developers are expected to delay launching new projects offering larger and pricier flats in response to the slowdown in sales caused by the latest measures aimed at cooling down the property market.

"Developers will rather try to offer projects that have flats that sell for smaller lump-sum prices," said Patrick Wong Chi-leung, an analyst at BNP Paribas Securities .

The rethink on new releases is expected following a poor response from the market to last week's launch by Cheung Kong of flats in its One West Kowloon in Lai Chi Kok that it priced from above HK$11 million. Sales were slow at the first residential project to release a price list after the government imposed a series of housing restrictions in late October - including a 15 per cent buyer's stamp duty - with only about 40 of the 286 flats on offer sold so far, according to property agents.

"Sales weren't very good mainly because of the large lump sum price," Wong said. He added that pricier flats attracted mainlanders, before the latest measures, as well as local buyers looking to upgrade, and both groups now needed time to re-evaluate their mortgage plans.

"So developers may wait two to three months for the market to accumulate some purchasing power before it offers larger units again," said Wong.

Wong said Sun Hung Kai Properties might choose to launch its Residence 88 project in Yuen Long ahead of its The Wings 11 project in Tseung Kwan O. More than half of the 352 apartments in Residence 88 were two-bedroom, he pointed out, compared with the three- and four-bedroom flats in the 782-unit The Wings II.

Henderson Land Development is set to launch its single-block development High Place in Kai Tak this month at the earliest. The project provides 76 flats sized from 330 square feet.

"I think in the present market environment, developers will tend to launch more single-block or small projects with smaller flats, sized no more than 700 sq ft and priced at HK$6 million or below," said Sammy Po Siu-ming, a director at Midland Realty.

"It's easier to sell about 100 units, than hundreds of flats in a huge project," he said, adding that SHKP had already indicated it would release its Residence 88 project once it obtained the government's pre-sale approval.

Another property agent, who spoke on condition of anonymity, said the slow sales at One West Kowloon would put the brakes on the launch of new projects by developers.

"We haven't seen any signs that developers may respond by cutting prices of new flats, given that both land prices and construction costs are still high."

Home sales in the primary and secondary markets, meanwhile, rebounded slightly from their ultra-low levels last weekend. Around 44 flats were sold in the first-hand market over the period December 8-9, up from 15 units over the previous weekend.

In the secondary market, according to Centaline Property Agency, 22 homes were sold at the weekend in the 10 largest housing estates it tracks, up from nine flats the previous weekend.
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Old January 27th, 2013, 05:08 PM   #1553
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You rape my eyes with each long Article without photos you post in this theard , I'm beginning to hate HK because of you !
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Old January 27th, 2013, 06:09 PM   #1554
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HAHAHA nice one skanny!
it's the same acute with Taipei and Taichung.he also does it with Chinese cities until minsk and julito-dubai brought some relief to our eyes.
no offense hkskyline,but your articles doesn't seem to be interesting very much.
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Old January 27th, 2013, 07:42 PM   #1555
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Projects are projects after all. If you want a picture book you can go to the kids' section.
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Old January 27th, 2013, 08:03 PM   #1556
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projects are projects,but this is world section projects,and for me that live in israel,nothing of your book report draw any picture cuz i don't live in taipei or hong kong or any other city that you make your bunch of empty words,for me at least.
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Old January 27th, 2013, 08:18 PM   #1557
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I'm sure the words in those articles speak volumes. You just need to re-read and think.
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Old January 27th, 2013, 08:19 PM   #1558
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Guys, no one is forcing you to read all the articles.
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Old January 27th, 2013, 08:23 PM   #1559
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I'll definitely post photos or renderings if they are available, but they're not a given. A lot of times I can't see anything until very late in construction, but then any updates prior to that are still good game here.
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Old January 27th, 2013, 09:17 PM   #1560
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HkSkyline , thank you for your comprehension .
Hong Kong is an eye catching City , and people from the whole world want to see little and efficient updates with tall and Slim buildings rising in it's famous and luminary Forest of Skycrapers , people want to see Towers and big developements wich will catch their attention , and the big majority of people here aren't from Kowloon or new territories or the HK Island to be interested by these accurate Articles and these regional informations about the city ...
Thank you

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