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Old March 12th, 2008, 02:10 AM   #21
gladisimo
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Couldn't agree more
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Old April 7th, 2008, 06:46 PM   #22
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Secondary market deals decline as the Capitol attracts buyers
5 March 2008
South China Morning Post

Transactions in the secondary market dropped significantly last weekend as homebuyers' attention had been drawn to the Capitol, which launched units for sale on Friday.

A total of 373 units changed hands in the 50 key housing estates monitored by Ricacorp Properties, 13.1 per cent fewer week on week. The average transaction prices edged up 0.9 per cent from last week, extending record gains to a 28th consecutive week.

Industry watchers said the government's waiving of property rates of up to HK$5,000 per quarter next financial year had little impact on the market, as the amount waived is minimal.

Nevertheless, demand for housing is very strong amid low interest rates and a buoyant economy, as the sales at Capitol showed.

On Friday and Saturday, Cheung Kong (Holdings) sold almost 2,000 of the 2,096 units in the Tseung Kwan O project at HK$5,100 to HK$5,200 per square foot, allowing the firm to reap almost HK$10 billion from the sales.

The overwhelming response compared to the launch of Park Island Oceancrest in 2002, when Sun Hung Kai Properties sold all 2,000 units in the development in one day.

But developers slowed sales in recent years by offering a limited number of units for sale in several phases in anticipation of the tight supply ahead.

Analysts believe the quick selling may be due to fear of an oversupply.

"Cheung Kong usually sells its project in phases and tunes up prices gradually, but they now sold almost all units in one batch and priced them at similar levels to the secondary market, implying they may be cautious about the outlook," an analyst at an American investment bank said.

He believes a quick sale may relieve pressure that Cheung Kong faces, as it owns the development rights for the second and third phases of Lohas Park which offer an additional 3,700 units.

Cheung Kong also owns Area 85, a plot opposite Lohas Park that is pending settlement of land premiums and could be turned into a residential-commercial project with a gross floor area of about 1.6 million sq ft.

"Cheung Kong needs to boost its sales or prices in the district will be dragged down by oversupply, just like in Tung Chung, where ample supply dampened prices," the analyst said.

Meanwhile, as MTR Corp got a larger share of profits from property sales, Cheung Kong was eager to sell the units even at a low premium to the secondary market to generate cash for future developments, said JP Morgan analyst Raymond Ngai.

Reports say nearly 40 per cent of the buyers purchased their flats through construction phase payment terms, compared with about 20 per cent in general, implying speculators could be at play, analysts said.

Under the terms, buyers only need to settle 20 per cent of the price in four instalments until the issuance of occupation permits - expected to be in the second quarter of 2009 - but housing prices are 5 per cent higher than the normal terms that require buyers to settle the deal within 1½ months.

Property agents said about 120 units of the Capitol were available in the secondary market at prices 10 to 15 per cent higher.
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Old April 9th, 2008, 07:11 AM   #23
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it's not finished yet. let's wait for more developments.
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Old April 13th, 2008, 07:11 AM   #24
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Police and building workers clash at rally
11 April 2008
South China Morning Post

Construction workers at the Lohas Park residential project in Tseung Kwan O scuffled with police yesterday during a protest against contractors accused of owing them nearly HK$2 million.

About 50 workers tried to block Wan Po Road outside the site. Police blocked the workers from rushing into traffic and tried to calm them.

Worker Tsang Wai-wah said one of the contractors had changed attendance records to cut their salaries for February and last month. "My attendance record was cut by three days, which means I will not be paid for my work on those days. My loss is about HK$1,000," he said.

Mr Tsang said workers had held at least five protests demanding their money. A colleague who gave his name as Mr Chan said he had not taken any sick leave in those two months but had been paid for just one day.

"I worked every day in those two months. But the contractor's attendance record shows I worked just one day each month," he said. "I should have HK$20,000 for each month, but the contractor paid me just HK$600."

The workers later marched to the office of the project's developer, Cheung Kong (Holdings), in Central demanding that chairman Li Ka-shing help them recover their money. A representative promised to forward a letter from the workers to Mr Li.

A meeting between the contractors and workers was arranged at the Labour Department office in Kwun Tong at noon. Some subcontractors complained they were unable to pay the wages because the main contractor, Able Engineering, owed them more than HK$7 million. Able Engineering proposed that it would directly pay the workers HK$600 a day, based on attendance record. But the offer was refused by the workers, who insisted on the original monthly wage they were promised.

The workers' representatives are scheduled to meet the commissioner for labour this morning.
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Old July 9th, 2008, 06:21 PM   #25
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Old July 26th, 2008, 02:44 PM   #26
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nice back drop...but the towers...mmmmm make me sad
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Old August 25th, 2008, 08:09 PM   #27
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日出康城4期年底招標
8月2日 星期六 05:10

【明報專訊】港鐵即將為荃灣西站7區招標,另會於本年底推出將軍澳日出康城4期,項目位於第3期以西,提供3幢約50層高純住宅,可建約1300伙。近3年,長實接連取得日出康城1至3期的發展權。

港鐵早前曾表示,除荃灣西站7區外,該站第5區(於車站上蓋,3250伙),亦將會於09年3月31日前推出。港鐵物業總監何恆光昨表示:「我們仍研究第 5區推出的最適合時間表,至於何時推出及會否於本年推出,暫不能確定」。他表示:「並沒有改變(招標計劃),數個項目一直在同一時間考慮中」。至於日出康城4期之後,會推出那一個項目招標,他表示,仍在考慮中。

荃灣西站5區獲城規會批准興建11幢47至61層高住宅,及2幢13至17層高酒店,提供3250個住宅單位及450個酒店房間。
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Old September 1st, 2008, 07:57 PM   #28
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8/31



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Old September 1st, 2008, 09:12 PM   #29
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I'm shocked that they didn't build a wall here.

And I was already telling myself it'd be ok since it's the further from the sea in this project.
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Old September 2nd, 2008, 04:31 AM   #30
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Oooh .. there'll be a lot more towers coming!
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Old September 2nd, 2008, 06:28 AM   #31
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Quote:
Originally Posted by Sexas View Post
nice back drop...but the towers...mmmmm make me sad
yeah, truly. they could be alot better..
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Old September 11th, 2008, 02:03 AM   #32
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Another wasting of Hong Kong's land.....
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Old September 19th, 2008, 11:16 AM   #33
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Source : http://www.pbase.com/specialteam/devils_hill

9/4

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Old October 16th, 2008, 10:11 AM   #34
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MTR delays tender after Tsang stresses market-driven supply
Hong Kong Standard
Thursday, October 16, 2008

MTR Corporation (0066) has put back a tender scheduled for the end of this year, for the fourth phase of the Lohas Park development in Tseung Kwan O, after Chief Executive Donald Tsang said the government will not "sell land way below market prices."

The company, Hong Kong's largest landlord after the government, expects to tender for the project next year. It will not launch any more projects this year, an MTRC spokeswoman said yesterday.

The government will not dump land on the market to spur economic growth despite the financial crisis facing Hong Kong, Tsang said in his policy address. "The government and government-owned statutory bodies will not indiscriminately supply residential or commercial land," Tsang said. "Neither will we sell land way below market prices."

He stressed that market-driven land supply and repositioned housing policy over the past six years have rebuilt confidence in the property market.
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Old October 17th, 2008, 09:50 AM   #35
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The project is very impressive, judging it by the massive size of development. And it is a great idea in theory, but they picked the wrong kind of towers to put in the middle of it all.
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Old October 20th, 2008, 06:51 PM   #36
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Previously posted at skyscrapers.cn





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Old October 22nd, 2008, 04:28 AM   #37
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Correction fears split experts Some fear property will trace stock dive, others disagree
22 October 2008
South China Morning Post

With the Hang Seng Index down more than 50 per cent from its record high of 31,958 points almost exactly a year ago, there are concerns the property market retreat will continue until prices are also down by a similar margin.

Some analysts who expressed such concerns say that the property cycle generally lags events on the stock market by six to nine months.

However, contrarians say that with supply taps turned low and developers adopting more cautious sales strategies, the big drop in prices that happened a decade ago will not be repeated.

As of September 30, total new supply in the pipeline for the next five years - comprising completed but unsold units and those under construction that are yet to be launched for presale - was at a record low of 62,000 units, official data shows.

MTR Corp's decision to shelve the tender for phase four of Lohas Park in Tseung Kwan O after the policy address by Chief Executive Donald Tsang Yam-kuen on Wednesday last week will further reduce projected supply.

The tender had previously been scheduled towards the end of this year and the development expected to offer 1,300 units by 2011.

At today's low supply level, developers would normally adopt a strategy of delaying launches until the last minute to maximise sale proceeds.

But with demand expected to slow even faster than supply levels, taking prices further down, developers may want to secure profits by selling the units now, albeit in measured and phased releases, analysts said.

Cheung Kong (Holdings) launched Seasons Monarch in Kam Tin last month after a prolonged marketing campaign to stimulate demand that included lowering the initial asking price by 17 per cent.

Rival Sino Land released the Dynasty in Tsuen Wan without a lengthy marketing campaign immediately after it received presale consent.

The developer priced the units at a modest 10 per cent premium to prices in neighbouring secondary markets, compared with the standard 30 per cent premium.

Sun Hung Kai Properties plans to start selling at the end of this month the first phase of its Peak One in Sha Tin, which consists of about 400 flats and detached houses ranging in size from 1,000 to 2,600 square feet.

The company has yet to unveil its asking prices for the units.

Hongkong Land Holdings said it might delay the sale of its new residential project, the Sail at Victoria in Kennedy Town, if banks maintained their policy of conservatively valuing properties for loan purposes, which it said was making it difficult for homebuyers to take out mortgages.

Nan Fung Development, meanwhile, said it would closely monitor market sentiment before launching the Tai Kok Tsui project that it is developing jointly with the Urban Renewal Authority.

With limited supply in the pipeline and cautious sales strategies in place, analysts believe the property market collapse that followed the 1997-98 Asian financial crisis will not be repeated.

"The market slumped then because developers launched all their stock at once and at a huge discount to market prices," said Wong Leung-sing, an associate director in the research department of Centaline Property Agency.

"There is no way such a cut-throat price war will be repeated in this era because of the limited supply."

According to the Centa-city Index, the average housing price fell 60 per cent in the 12 months after the outbreak of the Asian financial crisis in mid-1997.

"But the present supply of primary stock is not excessive, is reasonably spread geographically, and only about one-third of the 1990s level. So even if we were to see an accelerated release, it was unlikely to accelerate a downward movement in prices," said Professional Property Services Group chairman Nicholas Brooke.

"At the moment, demand has far more to do with confidence than price and that is the real hurdle that the developers will have to overcome if they are to achieve significant sales of inventory."

However, while a sharp decline like that of 1997 is unlikely, analysts generally believe a correction is unavoidable.
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Old October 22nd, 2008, 08:44 AM   #38
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Some more UC photos from :
http://www.flickr.com/photos/yunmeng/

image hosted on flickr


image hosted on flickr
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Old November 1st, 2008, 10:17 PM   #39
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將軍澳港鐵新站命名「康城」
10月19日 星期日 05:30

(星島日報報道)位於將軍澳日出康城的港鐵站正式命名為「康城站」(LOHAS Park Station),預定明年第二季啟用,由該站前往中環站僅半小時車程,方便區內市民。而作為明年東亞運動會的倒數活動──「全人健康均衡儲蓄計畫頒獎禮暨港鐵競步邀請賽」,亦暫定於明年三月,在康城站上蓋平台舉行,預計參加人數可達一千人。

港鐵公司昨日舉行新車站命名儀式,港鐵車務主管劉焯民宣布,位於將軍澳第八十六區日出康城的車站現正式命名為「康城站」(LOHAS Park Station),意思為健康及可持續發展的生活方式,配合將軍澳「健康城市」的理念。該站屬將軍澳綫另一個分支終點站,料可於明年第二季啟用,屆時乘客由該站到中環站,只須約半小時車程便可抵達。

推步往大堂免費驗膽固醇

劉焯民稱,將軍澳綫是該區非常主要的交通網絡,自二○○二年通車以來,帶動西貢區發展,故相信新車站正式啟用後,可為社區注入新動力,服務該區居民。港鐵表示,康城站設有綜合出口,通往日出康城的住宅平台,而日出康城第一期約一千至二千個單位會於明年第二季陸續入伙。整個日出康城住宅項目約有二萬個單位,首三期已批出,第九至十三期則仍在發展中。

另外,西貢區議會社會服務及健康安全城市委員會主辦,港鐵公司協辦的「全人健康均衡儲蓄計畫」昨日啟動,計畫目的是鼓勵將軍澳區內家庭,以「儲蓄」健康的概念,培養及持續全人健康的生活模式。

計畫由今年十月至明年二月舉行,期間在將軍澳綫的坑口站、調景嶺站和將軍澳站將會設置展覽及健康檢查,乘客只要由指定樓梯由月台步行往大堂,便可獲護士即場免費測試身體總膽固醇。

配合東亞運搞競步賽

計畫又鼓勵參與的家庭實踐日行八千步、每日食五份蔬果、學習以積極態度面對壓力、每星期做一項減壓活動、嘗試向身邊的家人朋友表達關心謝意、與家人約定家庭日,促進親子關係等,藉此養成健康生活模式。現時已有超過七十所學校、屋苑、社會服務單位及地方組織等成為協作團體,並招募了近五千個家庭參加。

鑑於二○○九年東亞運動會徑賽項目將於將軍澳舉行,作為東亞運的倒數活動──「全人健康均衡儲蓄計畫頒獎禮暨港鐵競步邀請賽」,暫定於明年三月在港鐵康城站上蓋平台舉行,預計參加人數可達一千人。
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Old November 1st, 2008, 10:58 PM   #40
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By 鄧麗欣之戀 from skyscrapers.cn :

[img]http://i35.************/2v0y9o5.jpg[/img]
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