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Old February 26th, 2012, 05:50 PM   #41
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Originally Posted by hkskyline View Post
I passed by it today and saw some pilings in the ground, but no signs of any structure appearing yet. Yes, it's surprisingly slow.
Especially compared to how fast they normally build here!

Are all the housing units rented out or sold already?
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Old February 27th, 2012, 03:58 AM   #42
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Especially compared to how fast they normally build here!

Are all the housing units rented out or sold already?
I don't think they've started pre-sales.
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Old February 29th, 2012, 10:34 AM   #43
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I don't think they've started pre-sales.
I always feel they delay these projects on purpose since the prices are expected to rise.
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Old March 1st, 2012, 11:00 PM   #44
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Quote:
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I always feel they delay these projects on purpose since the prices are expected to rise.
Yah probably true...

But sometimes if they waited too long, they have to pay some kind of fee to the gov't right?
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Old March 18th, 2012, 08:14 PM   #45
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But they are under construction, just that the buildings haven't risen yet.
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Old August 21st, 2012, 05:40 PM   #46
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Hopewell banks on office spread to lift rent levels
The Standard
Tuesday, August 21, 2012

The managing director of Hopewell Holdings (0054), Thomas Wu, expects rents at the company's offices properties to continue to rise as more firms shift from long-established business districts.

Rents at flagship property Hopewell Centre in Wan Chai increased 19 percent to an average of HK$37 a square foot in the 12 months to June 30. It has an occupancy rate of 97 percent.

"Rents for some [units] even soared above HK$40 psf after rental contracts were renewed," Wu said. "So we can expect office rents to rise above the HK$37 psf level."

Office rents are considerably more in neighboring districts. Pacific Place in Admiralty charges HK$110-HK$120 psf while Lee Gardens in Causeway Bay is HK$60-HK$75 psf.

Rents at another Hopewell property, KITEC in Kowloon Bay, rose 22 percent from HK$9.8 psf to HK$12 psf in the 12 months to June.

"Rents will be our main source of the profit in the future," Wu said.

Other projects in Wan Chai are also on the move. Hopewell Centre II is set for completion by 2018 and the Lee Tung Street redevelopment by 2015.

Construction will be under way on the 1.09-million-sq-ft Hopewell Centre II by year's end, Wu said, and pre-sales commence for the 1,300 residential units in the Lee Tung Street project in the first half of next year.

Hopewell' core net profit rose 11 percent to HK$1.35 billion in the 12 months to June 30 while revenue fell 6 percent to HK$6.56 billion.

It proposed a final dividend of 54 HK cents per share, plus a special dividend of 40 HK cents to celebrate group's 40th anniversary this year.

Net profit at subsidiary Hopewell Highway Infrastructure (0737) rose 0.5 percent to HK$1.02 billion. It proposed a final dividend of 16 cents per share.

Shares of Hopewell Holdings rose 1.06 percent to HK$23.75 while that of HHI advanced 1.58 percent to HK$3.85.
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Old August 21st, 2012, 05:47 PM   #47
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This is the Hopewell center II?

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Old August 21st, 2012, 07:34 PM   #48
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Quote:
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This is the Hopewell center II?

Here's the dedicated Hopewell Mega Tower thread.

Believe there should be renderings in there.
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Old April 23rd, 2013, 02:19 PM   #49
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2/23

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Old July 6th, 2013, 06:05 AM   #50
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Wanted: love for a Wan Chai mall
The Standard
Wednesday, June 26, 2013

Amid controversies about balancing heritage with clearance programs to make space for towering blocks and look-alike shopping malls, a couple of big developers applying a makeover in Wan Chai claim to be showering renewed affection on Lee Tung Street, best known as "Wedding Card Street."

A shopping mall in a new pedestrian precinct carries the name of Avenue Walk, but when it's in Chinese the pronunciation is offered as "Loving You."

In trying to sell a love story, Hopewell Holdings and Sino Land promise to maintain ideas of weddings in the new property. This will shine through, their PR people propose, in traditional Chinese food, jewelry and clothing in some of 70 shops on three floors. And there are wonderful branded products in outlets along a 200-meter- long stretch outside.

We're told it will be love at first sight for a street known before only for its mostly family-run businesses producing and printing wedding invitations.

And "old Hong Kong" is not forgotten as three tong lau - buildings without lifts - have been listed as Grade 3 historic buildings and will be saved.

If the hustle and bustle of loving the shops is too much, a 12,000-square-foot rooftop garden may be a refuge.
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Old November 13th, 2013, 05:56 PM   #51
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10/12

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Old November 25th, 2013, 03:45 AM   #52
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Mega-project pair rake in the cash
The Standard
Monday, November 25, 2013

Hundreds flocked at the weekend to view show flats for mega-projects The Avenue and The Visionary, with both set to launch this week.

That saw more than HK$615 million frozen in booking fees by the projects, each offering 1,000-plus flats. Prices at both will mirror nearby secondary homes, thanks to hefty discounts.

The Avenue, with 1,096 flats spread over three towers in Wan Chai, saw Sino Land (0083) and Hopewell (0054) net more than 1,800 registrations for the first 220 units, which will go on sale on Wednesday.

The figure, revealed by agents, means more than HK$360 million worth of cashier's checks valued at HK$200,000 each were collected, with buyers offered discounts of up to 17.5 percent.

As for The Visionary, Nan Fung Group told of more than 1,700 registrations for the first 318 flats at the Tung Chung project to become available for sale on Saturday, freezing HK$255 million. Discounts of up to 20.8 percent are being offered at the 1,419-unit, nine-tower project.

Forty new flats were sold in the territory in the past two days, from 82 the previous weekend.

Hutchison Whampoa Property, meanwhile, sold a second 5,706-square-foot house at its seven-home luxury project 28 Barker Road on The Peak. The price tag was HK$538 million.

Also, Sun Hung Kai Properties (0016) sold 12 flats at Imperial Kennedy in Western district, with a mainland buyer paying HK$40.94 million for a 1,256 sq ft special unit.

But attractive new projects are turning the secondary market sluggish. Centaline Property Agency stayed flat with nine weekend deals at the 10 major estates tracked, while Midland Realty recorded 12, down from 14.

Separately, a pharmacy operator will pay HK$738,000 per month for a 1,400 sq ft shop on 36-44 Nathan Road. The current lessee, a photographic and camera retailer, paid HK$380,000.
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Old November 28th, 2013, 04:11 AM   #53
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Stampede for flats sparks price rise
The Standard
Thursday, November 28, 2013





Flat prices at The Avenue were increased by least 2 percent to about HK$20,000 per sellable square foot after the first batch of units were snapped up in less than four hours yesterday.

Sino Land (0083) and Hopewell Holdings (0054) have jointly developed the scheme at 200 Queen's Road East, Wan Chai.

Victor Tin Siu-yuen, associate sales director at Sino Land, said the sale of 220 flats generated HK$1.8 billion. They were over-subscribed at least 20 times after hefty discounts were offered.

Tin said all 220 units were bought by individuals, with more than 10 of the buyers purchasing two flats each.

The first buyer was an office woman surnamed Lee, who registered for the ballot to reserve a flat only on Tuesday. She paid HK$11 million for a two-bedroom unit. Lee is a first- time buyer, renting a flat in the district.

Several celebrities including clothes retailer Moiselle International Holdings (0103) chairman Bobby Chan Yum-kit, former New People's Party vice chairman Louis Shih Tai- cho and former singer Agnes Chiang Lei-ping were among the buyers.

Chan expects to rent out the two units he bought for HK$60 per sellable square foot while Shih said he has bought a studio flat, priced at about HK$6 million, for family use.

Following the strong response, Sino Land and Hopewell raised unit prices by 2-4 percent. But flats at The Avenue still cost around 20 percent less than secondary homes in the district. Measuring 334-760 sq ft, the latest batch of flats - which consists of 110 units - is at a discounted average of HK$19,776 per sellable sq ft, compared with the HK$18,994 per sellable sq ft for the first batch sold yesterday.

Discounts of up to 17.5 percent are offered to buyers. Unit prices range between HK$8.26 million and HK$19.27 million.

Meanwhile, a two-story house on a 5,110 sq ft site at 123 Dumbarton Road in Kowloon City was sold for HK$165 million, agents said.
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Old December 6th, 2013, 04:41 AM   #54
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Prices jump at The Avenue
The Standard
Friday, December 06, 2013

Sino Land (0083) and Hopewell Holdings (0054) hiked prices on the latest batch of flats at The Avenue in Wan Chai by 7.25 percent after the previous batch of 220 sold out within four hours yesterday.

Fewer than 5 percent were corporate buyers, said Victor Tin Siu-yuen, associate director of sales at Sino. The units were priced at an average of HK$21,449 per sellable square foot and carried discounts of up to 17.5 percent. So far, 660 out of the total 1,096 have been sold.

Following the overwhelming response, another 200 flats was released at an average HK$23,004 per sellable sq ft. The price represents a 21.1 percent increment on the first batch.

The Lands Department, meanwhile, has given its presale consent to a new 179-unit phase at The Avenue and 89 flats at The Woodside, a New World Development (0017) project in Yuen Long.

Furthermore, NWD yesterday applied for consent at the 358-unit The Pavilia Hill in Tin Hau. Its Sino-led joint venture also applied for consent at its 970-unit project in Kau To Hill.

In the commercial property market, Sun Hung Kai Properties (0016) said it will start leasing its industrial-turned-retail complex in Kwai Chung - [email protected] - this month.

It expects to pocket HK$36 million in rent per annum from about 60 shops.

[email protected] is located near its Kowloon Commerce Centre office development.
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Old December 11th, 2013, 10:55 AM   #55
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Shine slightly fades on The Avenue
The Standard
Wednesday, December 11, 2013

Sino Land (0083) and Hopewell (0054) again hiked prices of the latest batch of flats at The Avenue in Wan Chai to a discounted HK$24,849 per sellable sq ft.

The first batch of apartments sold at the end of November was priced at a discounted HK$18,994 per sellable sq ft.

The developers yesterday sold 179 units of the 200 Queen's Road East project, failing for the first time to offload an entire batch in one day.

The previous three batches, made up of 220 units each, were sold out in a single day. A new batch of 168 flats at the 1,096unit second phase of The Avenue was released immediately.

Some of the latest buyers include actress Ada Choi Siu-fan, David Chen Sung-wai, father of singer Kelly Chen Wai-lam and singer Linda Wong Hing-Ping.

Meanwhile, Ricacorp Properties' residential chief executive Willy Liu Wai-keung said: "The worst time for the homes market has passed."

Liu expects home prices to fluctuate by about 5 percent next year.
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Old January 15th, 2014, 07:34 PM   #56
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1/15







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Old January 27th, 2014, 11:24 AM   #57
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1/1

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Wan Chai, Hong Kong at night by jscoke, on Flickr
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Old August 4th, 2014, 05:35 PM   #58
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Old October 23rd, 2014, 07:06 PM   #59
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By tungwongxxx from dcfever :

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Old January 27th, 2015, 07:22 PM   #60
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Hopewell looks to a project beyond Avenue
The Standard Excerpt
Tuesday, January 27, 2015

Core profit for Hopewell Holdings (0054) in the first half of its financial year to December 31 rose 0.16 percent to HK$607 million largely on sales of Wan Chai residential-retail project The Avenue.

And with a fair value gain from investment properties, net profit rose 16 percent to HK$860 million.

The interim dividend per share was flat at 50 HK cents.

By January 14, Hopewell had sold 1,202 flats at The Avenue, or 94 percent of the units in the project.

It booked HK$694 million in revenue from sales of The Avenue's first phase and HK$120 million from Avenue Walk, the retail portion of the project.

Managing director Thomas Jefferson Wu Man-san, pictured, said the focus now is Hopewell Centre II. Site formation works should be completed by the end of the year.

Wu also expects local purchasing power to remain strong this year and sees home prices as stable.

As at December 31, cash on hand was HK$3.6 billion, including HK$1.7 billion from sales of The Avenue. Net debt was HK$800 million, with gearing at 2 percent compared with 3 percent at June 30.
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