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Old March 6th, 2017, 02:21 PM   #681
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South China Morning Post Excerpt
Aviation industry presses Hong Kong government to open heliport at former Kai Tak airport site
Administration to study demand for cross-border and domestic services to assess viability of helicopter flights to and from major Pearl River Delta cities
March 6, 2017

Aviation may return to Kai Tak – Hong Kong’s former international airport before it was moved to Chek Lap Kok off Lantau in 1998.

The government will study the issue as the aviation industry draws up a case to operate a heliport at the tip of the old runway next to the Cruise Terminal, the Post has learned.

Following the government’s budget boost for helicopter flights, the Transport and Housing Bureau will start a “comprehensive review” as soon as April on demand for cross-border and domestic services to assess the viability of helicopter flights to and from major Pearl River Delta cities.

The industry, which includes helicopters and business jets, has proposed to the government that the general aviation sector could manage Kai Tak heliport as a non-profit venture at no cost to the taxpayer.

Heliport flights could act as connecting flights to and from business jets waiting at airports across the Pearl River Delta.

“If we operate it, we could effectively subsidise the cost of it. We will facilitate everybody else at a commercially operated heliport. That is what happens at Battersea heliport in London,” explained HeliGroup director Gavin Neale, who added that re-opening Kai Tak for commercial flights would be a symbolic move.

The site for Kai Tak heliport is currently an 80,000 sq ft fenced-off barren area. The land has been zoned as a heliport for years. It has already passed an environmental impact assessment.

The proximity of the Cruise Terminal’s customs, immigration and quarantine facilities make it ready to handle cross-boundary flights.
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Old March 11th, 2017, 12:47 PM   #682
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Hong Kong - Kowloon by Howard Pulling, on Flickr
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Old March 16th, 2017, 06:06 PM   #683
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South China Morning Post Excerpt
HNA Group pays HK$7.44b for fourth plot of land at former site of Hong Kong airport
HNA will combine the four plots into a single development project totalling nearly 400,000 square feet
March 15, 2017



HNA Group, the highly acquisitive property conglomerate that also owns Hainan Airlines, has paid HK$7.44 billion (US$960 million) for its fourth plot of development land at Hong Kong’s former Kai Tak airport.

The site sold at a price slightly exceeding the market expectation of between HK$6.1 billion to HK$7.4 billion, raising concern it could add fuel to the already hot residential market.

Milway Development, a unit ultimately owned by HNA Group, beat 14 other bidders to secure a 50-year right to develop Kai Tak Area 1L Site 2 in Kowloon, according to a Wednesday announcement by Hong Kong’s Lands Department.

“Home prices will continue to rise taking into account the present land sale and home buying sentiment. But whether or not (HNA) can attract buyers to its planned luxury development when it is offered on the market, we will need to wait and see,” said Shih Wing-ching, founder of property agency Centaline.

The successful tender brings HNA’s total shopping bill at Kai Tak to HK$27.2 billion over four months, giving the company a total of 398,268 square feet of land.
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Old March 21st, 2017, 05:09 PM   #684
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Source : http://www.flyertalk.com/forum/trip-...hailand-5.html

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Old March 29th, 2017, 03:17 PM   #685
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Old March 31st, 2017, 11:05 AM   #686
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Old April 8th, 2017, 09:42 AM   #687
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Loophole in flats for locals scheme as liaison official 'buys' two homes
The Standard Excerpt
Mar 30, 2017

An official from the liaison office is said to have splashed HK$14.52 million to buy two flats in phase two of One Kai Tak - a project under the "Hong Kong property for Hong Kong people" initiative and developed by China Overseas.

The acquisition was made by an official known as Kwai Laam, who is reportedly a Hong Kong permanent resident, according to a Chinese-language newspaper.

The report said that among the latest batch of 310 units sold in One Kai Tak, there were 30 sales and purchase agreements involving single buyers acquiring two apartments.

Cases of a single buyer acquiring two homes involved a total of 60 flats and all purchasers were first-time buyers.

Housing Society chairman Marco Wu Moon-hoi said the original intention behind "Hong Kong property for Hong Kong people" is to allow more locals better chances of owning property.

And it would stray from that intention if a sales and purchase agreement can be good for more than one flat, added Wu.

It would be up to the government to consider how to fix the loophole, he said.

One Kai Tak, which first launched sales in August last year, is so far the only project under "Hong Kong property for Hong Kong people."

Meanwhile, a report by Jones Lang LaSalle pointed out that the HNA Group or related companies have reset prices in Kai Tak after snatching four residential plots for an average land cost of HK$13,415 per square feet.

The report said home prices in Kai Tak grew by as much as 50 percent in less than a year.

Riding on the recent land price rally, prices of the second phase of One Kai Tak increased by about 13 percent to HK$18,100 psf from the first phase, said the report.

The recently launched first batch of units at Poly Property's Vibe Centro was priced at close to HK$20,000 psf.
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Old April 23rd, 2017, 06:02 PM   #688
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Unsold flats at Hong Kong’s De Novo project being sold at market prices
Many buyers backed out amid declining property prices when Urban Renewal
April 19, 2017
South China Morning Post Excerpt

The Urban Renewal Authority put 16 unsold flats at its first subsidised housing development up for sale at market prices on Wednesday.
The flats in De Novo in Kai Tak, ranging from 442 sq ft to 562 sq ft, will be sold for about HK$7 *million to HK$9 million, or HK$15,043 to HK$16,450 per sq ft.

The sale came after the authority’s board decided last year that the unsold units in the development targeting families too well-off to apply for public housing, should be sold at market prices.

The development has 484 flats, with 338 under the authority’s subsidised housing scheme and 146 for owners affected by the *authority’s redevelopment projects.

A total of 322 subsidised flats were sold last year, with prices set 20 per cent lower than market value at a range of HK$3.4 million to HK$6.6 million.
The project initially drew more than 12,000 applications, but against the backdrop of a drop in property prices last year, many applicants backed out.
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Old May 3rd, 2017, 06:28 PM   #689
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Kai Tak running out of steam
April 27, 2017
The Standard Excerpt

The Kai Tak Cruise Terminal is not living up to expectations despite the government pumping HK$6.6 billion into it so far, the Report of the Director of Audit said.

"To develop Hong Kong into a leading regional cruise hub, one of the strategies adopted by the Tourism Commission is to drive more ship calls to Hong Kong," said Director of Audit David Sun Tak-kei.

But his report said both berths were only used for five days during the peak season of 2015, and 14 days in 2016 - for utilization rates of 22.5 percent and 38.3 percent, respectively.

While it had been estimated that 278 ships would call at Kai Tak last year, the auditor said only 191 did so - below even the original estimate for a "low growth" scenario of 201 ships.

The number of passengers was 677,031, or 33 percent less than projected. Expenditure per passenger was HK$4,699 in 2013 and HK$2,950 in 2015, compared to the government's projection of at least HK$6,985.

The audit also found that half of the terminal's commercial area of 5,601 square meters was vacant as of last month.
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Old May 9th, 2017, 09:42 PM   #690
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Don’t give up on the Kai Tak cruise terminal yet
The optimistic outlook for the Asian cruise industry means that with time, it has every chance of reaching its potential
May 7, 2017
South China Morning Post Excerpt

A sure-fire way to sell a project to lawmakers for funding is to offer a rosy outlook. Hong Kong authorities did that with the cruise terminal at the old Kai Tak airport runway and almost four years after it opened at a cost of HK$6.6 billion, the numbers do not seem good. An Audit Commission report shows port calls by cruise liners were lower than even the worst projections, spending by passengers when ashore was dramatically below estimates and commercial areas were only half occupied. We have grown used to optimistic forecasts for major infrastructure works, but in this case, we should not be overly worried: strong growth in the cruise industry in Asia may yet save the day.

Worst and best scenarios put the number of ships docking at the two berths last year at between 201 and 278, but the actual figure was 191. A total of 677,031 passengers arrived, 33 per cent fewer than the high-growth projection, although 25 per cent above that for the low. As of March, nearly half the commercial area of 5,601 square metres was vacant. The director of audit had other concerns, including underuse of facilities for non-cruise activities and poor maintenance.

These figures and observations would be alarming had the terminal been in operation for a long time and the cruise industry in the region was mature. The opposite is true, though; the facility opened only in June 2013 and Asia is a promising growth market. Research by the Cruise Lines International Association showed that between 2013 and last year, the number of cruises in Asia grew at an annual compound rate of 22 per cent with passenger capacity increasing by 29 per cent. Mainland travellers are largely fuelling the surge and Hong Kong has been a particular beneficiary, with a 69 per cent compound rise in passenger numbers over the three years.

Such a positive outlook does not mean the terminal operator, tourism officials and others in the government should rest easily. Competition, particularly from the mainland, ensures a need for heavy promotion of Hong Kong as a cruise ship destination. A constant watch has to be kept for new opportunities. Making the facility more vibrant would help; a rooftop garden and nearby park are attractions in themselves for foreign passengers and Hongkongers, but poor transport links and the relative remoteness of the site make drawing visitors and businesses a challenge. Better bus links and the gradual development of the Kai Tak area will help.

Officials have at times in the past been overzealous in pushing projects. But their estimates for the terminal could well be accurate. The optimistic outlook for the Asian cruise industry means that with time, it has every chance of reaching its potential.

More : http://www.scmp.com/comment/insight-...e-terminal-yet
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Old May 10th, 2017, 05:24 PM   #691
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Politicians slam plans to give HK$60m ‘cashback’ to unsuccessful bidders for Kai Tak Sports Park
Home Affairs Bureau argues that complex project requires a bid incentive scheme to attract the requisite number of high-quality tenders
May 10, 2017
South China Morning Post Excerpt

A proposal to give up to HK$60 million ‘cashback’ to rejected tenders for the Kai Tak Sports Park has been criticised by Hong Kong lawmakers, with one likening the HK$32 billion project to a “fat piece of meat” surrounded by “wolves and hyenas”.

The Home Affairs Bureau is seeking approval for HK$31.9 billion in funding from the government for the long-delayed project on the site of the former airport.

The government will pay for construction, but a tender winner from the private sector will be responsible to design, build and operate (DBO) it under a 25-year contract.

Unsuccessful bidders will receive 50 per cent of the cost of their bid back, up to HK$60 million, with the government taking the intellectual property of their designs in return.

At an ongoing meeting of the Public Works Subcommittee on Wednesday, KPMG, the government’s chief consultants on the project, made a 25-minute presentation to Legislative Council members arguing that the project’s complexity and wide-ranging goals meant the bid incentive was necessary to ensure a sufficient number of bidders.

The 28-hectare project incorporates a 50,000-seat stadium, 10,000-seat indoor arena, 5,000-seat public sports ground, retail outlets occupying around 57,000 square metres, a bowling centre with 40 lanes, a health and wellness centre of around 2,500 square metres, a ‘dining cove’ of about 3,000 square metres and eight hectares of public space including a cycle track, park features and playgrounds.

More : http://www.scmp.com/sport/hong-kong/...ul-bidders-kai
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Old May 27th, 2017, 08:16 AM   #692
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Kai Tak’s commercial land sale shows Chinese developers are taking a break from shopping
May 26, 2017
South China Morning Post Excerpt


on.cc

Mainland China’s developers appear to be taking a break from their shopping spree for Hong Kong assets, when a government sale of commercial land attracted only two bids from Chinese companies.

The tender for Area 1F Site 2 at the former Kai Tak airport site attracted 12 bids from developers, 10 of which are Hong Kong companies including Cheung Kong Property (Holdings), Chinese Estates Holdings, Wheelock Properties,Henderson Land Development and Nan Fung Development.

Two mainland Chinese developers -- Shimao Property Holding and Chinese Overseas Land & Investment -- submitted separate bids.

The site, which could yield 1.91 million square feet (177,444 square meters) of total gross floor area designated for offices, retail shops and hotels, has been valued at between HK$7,500 per sq ft to HK$12,000 per sq ft, placing the top end of the estimated price at HK$22.9 billion (US$2.9 billion), a record for the area.

This is the third sale of government land this month that had broken the domination by Chinese companies, reversing the previous trend where they had overwhelmed property sales and broken one price record after another.
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Old June 8th, 2017, 08:02 AM   #693
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Payoff for sports park losers cut to $120m
The Standard Excerpt
June 8, 2017

The number of qualified tenderers for the Kai Tak Sports Park project will be reduced to three from four to cut the bid initiative sum by a third to HK$120 million, according to a pro-establishment party legislator.

The HK$31.9 billion budget for the Kai Tak project was on the agenda of the Legislative Council Finance Committee yesterday.

And with it came the controversy about the bid initiative for three tenderers which are qualified but destined to fail. That would amount to HK$180 million as it means HK$60 million each.

Edward Lau Kwok-fan of the Democratic Alliance for the Betterment and Progress of Hong Kong said the party had a meeting with administration representatives on Friday, and he received a reply earlier this week.

And the key consideration in the administration's intention to cut back to three qualified tenderers means two failed tenderers and the payout sum reduced by HK$60 million to HK$120 million.

Lau also said the pro-establishment camp had originally opposed the bid initiative, but members were happier now and will support the project proposal in the Finance Committee.

"We have to balance competitiveness and public fund uses," Lau said of the revised thinking on tenderers.

He also said the administration had accepted a request from the establishment camp to raise the deposit for the successful tenderer from HK$200 million to HK$1 billion, with the warranty date lengthened to 10 years from a range of six to nine months.

"This will avoid the contractor leaving before the contract ends, resulting in bad management of the park," Lau said.
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Old June 13th, 2017, 12:55 PM   #694
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"Don’t give up on the Kai Tak cruise terminal yet"

Don’t give up on the Kai Tak cruise terminal yet...

I think there is a chance to bring new energy into the development of the cruise terminal. It is a MUST for have a good connectivity to the public transport system. It is not enough to have a few busses or Mini-busses. I remember plans of a mono-rail-system between the cruise terminal and Kwun Tong. What about these plans? The other way is more expensive and long running, but would in the end the most successful: the extension from hung home to Kwun Tong with a stop at the cruise terminal.
Two effects: the cruise guest can reach the city quite fast - that's very attractive for them. And the other tourists can go to the cruise terminal easy as well. I planned to get there last time, but the way was to complicated. It is a magnificent building! And last but not least: such a station of MTR would push the development of the old runway without any doubt.

Background: I live in Frankfurt (Germany). They build two new bigger quaters in the city. In both cases they implemented the public transport by metro at the end. In one case it is still not finished. There is a shopping mall - not very successful. The development of the other part really starts when the connection to the metrosystem was finished.
It is a MUST to have a good public transport from the beginning on if you want to develop successfully.
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Old June 13th, 2017, 01:56 PM   #695
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^ They can't even decide whether to run monorail or traditional rail yet. By the time the studies are completed and funding is approved, it might be another decade.

In the meantime, the cruise terminal remains remote and inconvenient to reach.
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Old June 15th, 2017, 05:55 PM   #696
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Old July 8th, 2017, 04:13 AM   #697
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Old August 7th, 2017, 09:50 AM   #698
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August 6, 2017

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Old August 8th, 2017, 06:37 AM   #699
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any news on the proposed sports stadium for the area? I heard that the project has been approved?
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Old August 8th, 2017, 02:51 PM   #700
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Quote:
Originally Posted by kunming tiger View Post
any news on the proposed sports stadium for the area? I heard that the project has been approved?
Tendering : http://www.info.gov.hk/gia/general/2...7062300891.htm
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