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Old March 6th, 2009, 07:30 PM   #21
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星 島 大 廈 重 建 項 目
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Old March 16th, 2009, 04:18 PM   #22
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Old March 25th, 2009, 06:09 PM   #23
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Old March 28th, 2009, 06:37 PM   #24
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District is centre of attraction kowloon east
The area has transformed itself from a rundown industrial site to a prime office location that is luring major players

27 March 2009
South China Morning Post

Kowloon East is emerging as a new commercial hub for local and international companies after undergoing a major transformation over the past decade.

From a predominately industrial area, with aged and even rundown factory buildings more than 10 years ago, the district has upgraded significantly and now boasts a growing number of office towers equipped with some of the most advanced facilities and building specifications in Hong Kong.

The new commercial hub is being developed largely around Kwun Tong and Kowloon Bay, the two main sub-districts that are well connected by the MTR and other public transport networks.

The pace of transformation increased particularly in the past five years when developers invested billions of dollars in acquiring new sites for office use or redeveloping old buildings into new office towers.

Sun Hung Kai Properties (SHKP) is one of the leading developers which has helped drive the district's dramatic changes. The company's Millennium City portfolio in Kwun Tong provides five gradeA office towers with a total floor area of nearly 3million sqft. The first tower - Millennium City 1 - was completed in 1998 and the latest addition - Millennium City 6 - came on the market in 2007.

Another phase of the development is under construction. More than 5million sqft of grade A offices have been completed in Kowloon East over the past two years. Among the newly completed high-rise office buildings are Enterprise Square5, developed by Kerry Properties, One Kowloon, built by G.S. Properties, Exchange Tower, by Sino Group, and Manhattan Place, by Manhattan Realty, in Kowloon Bay.

The latest projects completed in Kwun Tong are Landmark East built by Winsor Properties Holdings and Kwun Tong223 by Henderson Land Development.

With more quality office buildings at substantially lower rentals than those in core business areas, an increasing number of companies from different sectors including banking, accounting, retailing, logistics and other sectors are relocating their operations from other parts of Kowloon or Hong Kong Island to Kowloon East.

These include PricewaterhouseCoopers, Industrial and Commercial Bank of China, Hang Seng Bank, Standard Chartered Bank, Bank of East Asia, MTR Corporation, DHL and Dah Sing Life.

Office rentals in Kowloon East had risen steadily along the economic growth and business expansion between 2003 and the first half of last year despite the significant increase in new supply. Like other areas of Hong Kong, however, rents in the district have fallen sharply since the global financial crisis and the subsequent world recession.

According to Knight Frank, net effective rents of grade A offices in Kowloon East ranged between HK$16 and HK$24 per sqft a month in February, down 33.7 per cent from HK$27.8 per sqft at the market's peak in May last year.

Xavier Wong Kit-hung, a director and head of research at Knight Frank, said many companies were downsizing and the global recession had forced them to consider moving their operations to non-core areas to cut costs.

She said Kowloon East would contribute about 35 per cent of the new office supply in Hong Kong this year and next year, and she expected the district to remain a favourable location for companies looking for lower rental costs given the large amount of office completions.

According to Knight Frank, the supply of new offices in Kowloon East is expected to reach about 1.9million sqft involving five developments. The projects in Kwun Tong include Millennium City phase seven, by SHKP, Crocodile Centre redevelopment, by Lai Sun Development, and a development in Shing Yip Street by Billion Development.

In Kowloon Bay, Sino Group is redeveloping the site of Po Hing Centre, while Billion Development is building a new office tower on the site of the former Sing Tao Building.

With the weakened economic environment and companies focusing on cost savings, landlords in Kowloon East, like those in other core and non-core districts, have to offer competitive rents to attract tenants. The large supply in the district, with a high vacancy rate of about 30 per cent, means that more aggressive and attractive leasing packages are needed to compete for occupiers.

According to Colliers International, average rental of grade A offices in Kowloon East was between HK$14 and HK$23 per sqft as of February, a drop of about 33 per cent from a year ago.

The vacancy rate rose to 29.3 per cent, up 13.42 percentage points compared with February last year. The vacancy rate in Kwun Tong was 36 per cent, and in Kowloon Bay was 29 per cent.

Simon Lo Wing-fai, director of research and advisory at Colliers International, said that due to the availability of new offices and the large rental difference between Kowloon East and core business districts, several companies were tempted to relocate, downsize and consolidate their operations to generate significant rental savings.

"Tenants will be lured to relocate due to the steep rental difference between central business district locations on Hong Kong Island and Kowloon East. For example, it is nearly a HK$60 rental difference between Central and Kowloon East," he said.

With the softened market conditions, landlords in Kowloon East were offering competitive rentals with longer rent free periods and even providing tenants with financial subsidy on office fitting-out, he said.

In the long term, Mr Lo said Kowloon East would be a decentralised business hub and a tourist destination with the gradual transformation of Kowloon Bay and Kwun Tong, and the proposed cruise terminal at Kai Tak in the vicinity.

The Kwun Tong town centre redevelopment, undertaken by the Urban Renewal Authority, would provide a further booster to the upgrading of the district, he said.
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Old April 29th, 2009, 06:34 PM   #25
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意向價20億 每呎樓面3600元 九龍灣啟德集業權標售
7 April 2009
星島日報

新勾地表內新增地皮欠奉,令發展商透過收購土儲的意欲增加,位於九龍灣觀塘道啟德大廈,小業主已收集逾九成業權,計畫最快在今年中推出招標,現階段接受洽購,項目重建為商住物業,可建樓面達五十五萬方呎,意向價為二十億元,樓面呎價三千六百元,但在高度發展上須作出補地價。

中原測量師行董事張競達指,觀塘道五十三至五十五A號啟德大廈,已收集逾九成業權,並會繼續收集餘下的業權。現正進行招標前期工作,計畫最快於七月推出招標,現階段接受有意者洽購。該物業的業權總數達三百二十八個,目前尚餘少量住宅及一個地鋪的業權仍未同意出售。業主們的意向價為二十億元。

重建需補地價

大廈由四幢物業組成,總地盤面積達六萬一千四百九十七方呎,屬住宅甲類地皮,若興建純住宅用途,地積比率約七點五倍,若興建商住物業,最高地積比率為九倍,可建約五十五萬三千四百七十三方呎,預計可重建三至四幢物業。住宅後面的山坡上為警隊訓練中心,地契規定地盤內物業不可高過後面山坡草地,不過,發展商須透過補地價解除此限制。

若以現時意向價計算,住宅每方呎(實用面積)為一萬元,鋪位為四萬元,每伙住宅五百萬至六百萬元,每個鋪位約八百萬元。

張氏續稱,區內鄰近九龍灣及觀塘等地已有高度限制,相反該地盤並無高度限制,發展商可趁此時入則,以鎖定新發展項目的高度。他預計發展商須補地價約十億元,以意向價計,樓面呎價達三千六百元,加上補地價每方呎一千八百元,建築成本每方呎一千至二千元,興建樓宇後,可銷售面積往往連同工作平台及公共空間等,預計發展商以呎價約五千至六千元發售物業,即可收回成本。

就項目現場所見,其中該項目一座樓高六層,每層十二伙,每幢伙數為七十二伙,地鋪經營的多屬民生行業,樓梯環境亦較企理。

啟德大廈業主代表鍾先生表示,在○六年四月,曾有代理行表示有興趣作出收購,當時該代理行提出以三百萬元劃一收購所有住宅,惟該廈住宅呎數相異,部分面積較大的住宅業主,難以接受洽購價與呎數較細的相一致,因此終不了了之。而自從去年金融海嘯後,見市況回落,只好軟化立場,因而才可收集到逾九成業權。

最多可建55萬呎

不少地產商亦對此地皮有一定的興趣。發展毗鄰清水灣道8號項目的發展商、俊和發展集團經理梁志輝指出,由於啟德大廈項目,屬市區少有的大規模地皮,會研究其有關資料及章程後,再決定是否入標。

泛海執行董事關堡林表示,對於會否入標該項目,要研究其物業資料後才可作出決定。
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Last edited by hkskyline; April 29th, 2009 at 06:44 PM.
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Old May 1st, 2009, 08:01 PM   #26
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啟德鐵路擬接九龍灣觀塘
3月25日 星期三 09:55

【明報專訊】政府研究未來於啟德發展區興建的環保鐵路運輸系統,打算伸延至九龍灣、觀塘舊區,作為活化新舊區之間的聯繫;但連接機場跑道與觀塘區的鐵路橋工程,可能觸犯《保護海港條例》,或要以其他路線代替。

啟德發展計劃橫跨2013至2021年,2021年區內環保運輸系統就會建成,發展局早前表示,屬意興建單軌鐵路,但原定路線只在啟德兩岸行駛。政府消息人士昨日指出,九龍灣和觀塘的地區人士有意見,希望鐵路延至區內,故政府正考慮更改鐵路走線。

政府消息人士說,延伸鐵路擬採高架路方式,由將來的港鐵啟德站,連接現時的九龍灣站和觀塘站,由於兩區屬已發展的舊區,故要小心考慮高架路、車站等的落點,目前未決定具體走線。

往觀塘天橋或觸《保護海港條例》

現時啟德機場跑道已有一條橋連接九龍灣,原是飛機滑翔跑道,消息人士說,只要略為改建就可供鐵路行走;而跑道南端連接觀塘的天橋,則可能難產。消息指出,《保護海港條例》規定,不可阻礙船在維港航行,而該處卻是通往觀塘避風塘必經航道,當局會研究是否可行,必要時放棄興建,改在九龍灣繞路往觀塘。
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Old May 2nd, 2009, 09:08 AM   #27
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地政總署短租勾地表六幅地
9 April 2009
星島日報

地政總署即將推出多幅勾地表用地作短租,當中六幅用地現時列在勾地表之內,最快可於本月推出,主要作停車場之用。

主要作停車場

六幅勾地表用地中,四幅為住宅地,包括前山谷道邨二期、沙頭角道十九區、粉嶺樓路,以及紅磡灣D1地盤。前山谷道邨二期租期將至○九年六月三十日屆滿,其後按季續租。

根據北區區議會交通及運輸委員會主席劉國勳指,沙頭角道十九區以及粉嶺樓路兩幅地皮,現時正用作停車場之用。兩幅地皮均以月租形式用作收費公眾停車場。

此外,勾地表內用作酒店用途的九龍灣常悅道、宏泰道與宏遠街交界處,以及列作商貿用地紅磡灣紅鸞道與建灣街交界處,亦同樣以月租方式推出作收費公眾停車場。

至於北角渣華道及電照街交界處的前北角邨用地,有議員指十多年前已用作發展停車場至今,而從前曾用作小販售賣場。該用地將先定一年,其後按月續租,用作康樂、文娛等用途。
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Old May 4th, 2009, 01:41 PM   #28
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Old May 7th, 2009, 06:33 PM   #29
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By 鄧麗欣之戀 from skyscrapers.cn :

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Old May 23rd, 2009, 08:24 AM   #30
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Old June 7th, 2009, 05:10 PM   #31
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Old June 10th, 2009, 05:00 PM   #32
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Sing Tao bdg redevelopment by 鄧麗欣之戀 from skyscrapers.cn :

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Old June 24th, 2009, 06:48 PM   #33
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創紀之城7期



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Old July 4th, 2009, 06:37 PM   #34
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Old July 5th, 2009, 11:41 AM   #35
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Old July 5th, 2009, 12:57 PM   #36
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Cost of converting factories could be lowered
17 June 2009
South China Morning Post

The government is considering lowering the land premium payable for converting old industrial buildings to new uses, a senior government source said.

It is one of several incentives being considered to speed up the revitalisation of industrial zones and old residential buildings.

Legislators will next week discuss proposals to make it easier for developers to trigger the compulsory sale of properties in old residential and industrial buildings. At present a developer must buy 90 per cent of the properties in such buildings in order to force a sale of the remainder; the plan is to lower that threshold to 80 per cent.

The proposal covers industrial buildings more than 30 years old and residential blocks more than 50 years old.

Chief Executive Donald Tsang Yam-kuen is expected to announce steps to promote the reuse of industrial zones early next week.

However, the source said the proposed changes did not mean the government encouraged the demolition of industrial buildings.

"Old industrial zones can become a very good facility for the community," the source said. "The industrial buildings can become a 'book city', a gathering place for artists and bands. The whole area will be uplifted."

It was more environmentally friendly to convert buildings than demolish them, the source said.

With this in mind, the government is considering incentives favouring conversion of industrial buildings, especially those with less redevelopment potential. One possibility was to reduce the land premium - the money a developer has to pay to reflect the value added to a property by redeveloping it - the source said.

"A little reduction in the government's revenue will allow a larger financial gain by increasing economic activities in old areas," the source said.

If legislators approve the incentives, they will be introduced in six months' time.

Private buildings can only be redeveloped when developers have bought 90 per cent of the properties within them. The Lands Tribunal will then order a compulsory sale of the remainder if developers demonstrate they have taken reasonable steps to acquire them and that the redevelopment is justified on the grounds of the building's age and state of repair.

Because of the high land premiums demanded for converting old industrial buildings and stringent building and fire safety rules, many are converted without permission.

The idea of lowering the land premium has not been well received by developers, who say it would be unfair to reduce them now when they have for years had to pay high premiums to turn industrial blocks into offices.

Institute of Surveyors spokesman Raymond Chan Yuk-ming said buyers of old industrial buildings should be allowed to force a sale of remaining properties if they have acquired 70 per cent or 75 per cent of units.

He also said the government should relax building rules.
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Old July 6th, 2009, 07:16 AM   #37
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Ikea replacing B&Q at MegaBox
26 June 2009
South China Morning Post

Swedish home furnishing retailer Ikea said it would move into shopping centre MegaBox in Kowloon Bay next year as British rival B&Q moves out.

Sources said B&Q would not only retreat from the MegaBox, but also the Hong Kong market. Calls to the company were not returned.

Kingfisher, Europe's largest home-improvement retailer which owns B&Q, had said the write-down for its mainland outlets had pulled down last year's net profit.

It planned to close 22 stores on the mainland and renovate the remaining 41 as part of a "comprehensive repositioning".

In Hong Kong, it has also struggled to attract consumers since opening the first and only store two years ago.

But Ikea, which focuses more on home furnishing rather than on do-it-yourself products, has deeper roots in Hong Kong. Started in 1975, Ikea's Hong Kong business, now controlled by Jardine Matheson Holdings through Dairy Farm International Holdings, runs four stores.

The new store in MegaBox, which will be its largest in the city, would replace its current outlet in the nearby Telford Plaza. It will officially open for business in mid-2010.

The size of the new store will be 150,000 square feet, nearly double the 80,000 sqft in Telford Plaza.

The new store will have a children's playground big enough for about 30 to 40 children, and a 300-seat Ikea restaurant.

"The new Kowloon Bay store will allow us to show our range of more than 7,000 home furnishing products in a setting that will offer many people inspiration, smart ideas and clever home furnishing solutions," said Benjamin Birks, Ikea Hong Kong general manager.

It will be the single largest tenant for MegaBox, which saw traffic volume grow 20 per cent year on year in the first half.

Czarina Man, general manager of MegaBox Development, said the shopping centre's current occupancy rate was 97 per cent.
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Old July 6th, 2009, 03:25 PM   #38
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Quote:
Originally Posted by hkskyline View Post
Ikea replacing B&Q at MegaBox
26 June 2009
South China Morning Post

Swedish home furnishing retailer Ikea said it would move into shopping centre MegaBox in Kowloon Bay next year as British rival B&Q moves out.
The Swedish kicked the British out.
B&Q survived for two years has already been a long time, and I am not surprised it ran out of business.
The kind of DIY style just isn't the HK's culture. We can hardly even move all the items we purchase in the tiny home and have time to put everything together.
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Old July 6th, 2009, 04:16 PM   #39
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What a wrong move for Ikea to relocate its largest shop from Telford Plaza to that infamous no man's zone/ ultra large empty box / business hours only shopping center / a shopping mall which cannot continue its business without shuttle bus/.........., I can smell a huge profits drop for Ikea HK in the next few years, maybe by 30%?
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Old July 6th, 2009, 08:35 PM   #40
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B&Q is bound to fail ... nobody would go buy a piece of drywall to install it at home. Renovation labour is not as expensive here to 'do it yourself'.
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