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Old May 17th, 2009, 05:46 PM   #1
hkskyline
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HONG KONG | The Riverpark | 48 fl x 2 | 46 fl x 2 | U/C

MTRC project lures major players
11 March 2008
Hong Kong Standard

Thirteen developers have expressed interest in an MTRC (0066) project - worth up to HK$6 billion - above Che Kung Temple station in Sha Tin.

Sources said Cheung Kong Holdings (0001), Henderson Land Development (0012), Sun Hung Kai properties (0016), New World Development (0017), Wheelock Properties (0049), Sino Land (0083), K Wah International (0173), HKR International (0480), Nan Fung Development and four unidentified developers expressed interest.

MTRC property director Thomas Ho Hang-kwong said after applications closed yesterday he was satisfied with the response. Tenders will open soon after agreement on the land premium with the Lands Department.

Surveyors expect the premium to be between HK$3,100 and HK$4,000 per square foot, and developers would make a reasonable profit by selling at HK$6,500 psf.

Ho said the MTRC would consider absorbing half the premium to attract smaller developers, but refused to say if the financial concessions will result in a higher profit-sharing ratio.

The development on the Ma On Shan line station has a gross floor area of 975,448 sq ft, and consists of four towers with 1,240 apartments.

Concern group Green Sense said the project may lead to poor ventilation in the already densely populated district, and advised the MTRC to leave three ventilation corridors between the towers, lower its plot ratio to four from five, and limit the tower height to 110 meters.

Ho said if the planning needs adjustment in regard to any ``wall effect,'' negotiations will be held with the Town Planning Board.

He added the company will also offer two more projects atop Tsuen Wan West station in the next 12 months, providing 5,026 apartments.

Lohas Park Phase 4 will be delayed until next year, Ho said, as the three projects so far will satisfy demand.
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Old June 9th, 2009, 05:22 PM   #2
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New World wins HK$6b housing project above new Sha Tin station
16 April 2008
South China Morning Post

New World Development (NWD) yesterday outbid six other major developers to win the right to build a residential estate, estimated by the MTR Corp to be worth HK$6 billion, above the Che Kung Temple mass transit station in Sha Tin.

The project will brighten the developer's outlook, which until now, was clouded by the lack of large-scale urban projects in the next few years, according to UBS analyst Eric Wong.

On NWD's portfolio are only four small-scale residential projects in Kowloon and on Hong Kong Island, in addition to the remaining units at Harbour Place in Hung Hom. Its projects in Tin Hau and the New Territories are pending agreement with the government on land premium and conversion. Mr Wong said the profit margin of residential projects in Hong Kong was usually more than 20 per cent.

The Lands Department has imposed a land premium levy of HK$3.66 billion or HK$3,754 per square foot on the Che Kung Temple station project.

Based on the terms of the tender, NWD, the winning bidder, will have to pay half of the levy and the construction cost. The railway operator will pay the rest of the levy.

Charles Chan Chiu-kwok, a managing director at Savills Valuation and Professional Services, expects the project to fetch HK$7,000 to HK$8,000 per square foot. "For potential buyers, the project is attractive as it is conveniently located above the MTR station," he said.

The 195,194 square foot site can be developed into four 38- to 40-storey residential buildings, offering 1,240 units with a total gross floor area of 975,810 sq ft.

The project is scheduled for completion in 2012.

NWD shares dropped 1.79 per cent to end at HK$17.56 yesterday.

Separately, developer Yu Tai Hing has received two bids from the tender sale of Morning Side, its luxury residential project at 2 Cape Drive, Chung Hom Kok, sole agent Savills disclosed.

Without divulging the development's price tag, sources said the owner would accept the purchase offer of close to HK$600 million.

The development involves 11 houses, each measuring between 3,297 and 3,936 sq ft and featuring a private swimming pool.

Nick Lee, an associate director for Island South and the Peak at Centaline Property Agency, said the going rental rate for houses of a similar size was about HK$150,000 per month.

"Rental rates will continue to rise as only a few houses are available now," Ms Lee said, noting that monthly rents for houses have risen 20 per cent in the past 12 months.
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Old June 10th, 2009, 03:19 AM   #3
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Project location is centre of map:

Source: Google Map
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Old June 25th, 2009, 07:21 PM   #4
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車公廟站准建4高廈
24 June 2009
太陽報



【太陽報專訊】多個大型鐵路上蓋及新界住宅發展項目展開工程,上月政府便批出多個大型項目建築圖則。其中新世界的馬鐵大圍車公廟站商住發展,獲批建4幢41至43層高物業,同系元朗大道村項目則批建63幢3層高洋房,兩項目涉及總樓面達117萬方呎;另新地等的紅磡漆咸大廈及元朗寶業街項目,亦批建住宅,合共提供逾60萬方呎樓面。

屋宇署五月共批出27份圖則,包括15項住宅及商住發展,以及7項商業發展。當中以新世界的車公廟站商住項目規模最大,項目將建兩幢樓高38層及兩層樓高40層物業,並設3層基座,住宅樓面共約96.68萬方呎,非住宅樓面則有2.36萬方呎。同系的大道村項目於○七年完成逾4.92億元補地價,將建63幢洋房,全部設有1層地庫,另設1幢4層高會所,項目總樓面18.28萬方呎。新地夥同信德等合作重建的漆咸大廈,位於漆咸道北424號,發展商已於○七年補付地價,涉約11.35億元,獲批圖則可建兩幢32層高商住物業,另有4層基座及兩層地庫,總樓面約38.23萬方呎。至於新地在○八年向中信泰富購入的寶業街18號,可建8幢兩層高洋房,以及3幢24至25層高住宅,總樓面約22.17萬方呎。此外,英皇地產的西環德輔道西美景大廈合併毗鄰德富工業大廈,獲批建1幢36層高住宅,總樓面約11.25萬方呎。另司徒拔道45號景賢里,獲批於毗鄰地皮建4幢兩層高洋房,另有1層停車間,總樓面約2.53 萬方呎。

住宅落成量增66%

金朝陽的大坑華倫街13至27號,可建1幢46層高商住物業,總樓面8.09萬方呎。市建局的灣仔茂蘿街/巴路士街復修項目,現址可改為1幢5層高商用物業。恒隆夥拍心光盲人院,爭取重建的薄扶林道131號學校現址,心光盲人院剛獲批出學院重建的圖則,可建1幢37層高學校,樓面逾103.7萬方呎。另利嘉閣稱,今年首五個月本港共有18個私人住宅項目落成,涉及單位2,405伙,較去年同期多66%,佔全年政府預測落成量的16.3%。
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Old July 7th, 2009, 09:42 AM   #5
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新世界(017)馬鐵車公廟站上蓋可建四幢38至40層住宅大廈
23 June 2009
經濟通新聞

《經濟通通訊社24日專訊》新世界發展(00017)馬鐵車公廟站上蓋項目上月獲批圖則,可在三層平台之上,興建四幢38至40層高的住宅物業,連休憩設施及幼稚園,住宅面積96﹒7萬方呎。

車公廟站項目預計2012年落成,最快明年年底開售
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Old September 10th, 2009, 05:55 PM   #6
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Around the MTR station :











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Old May 31st, 2010, 06:03 PM   #7
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Builders in rush to beat new rules
Developers seeking quick project approvals before stricter density and height limits

23 September 2009
South China Morning Post

Developers are in a race to win approval for ambitious building projects before the government resumes a campaign to lock in tighter planning restrictions over building heights and densities.

Opinions on tighter development controls differ widely and an accelerated campaign by the government last year that saw stricter controls introduced in 13 districts won wide applause from green groups and the general public who are opposed to raising building density in Hong Kong, already one of the world's most densely populated cities.

But the campaign, aimed chiefly at setting limits to building heights and plot densities to ensure adequate air flow and sunlight for surrounding buildings, also unleashed a flood of objections from developers and homeowners.

Wong Nai Chung was among the most controversial cases, triggering 441 objections and putting the brakes on the policy. As a result, only Chek Lap Kok, Mid-Levels East and Ma On Shan have had building height restrictions imposed so far this year.

The slowdown provided a window of opportunity for developers to push through individual approvals before the government tightened district-wide controls, said a surveyor.

Dennis Law Sau-yiu, the managing director of small development company Yu Tai Hing, said: "The private sector can't do much about the policy. We can only try to get approvals for the building plans of our projects as soon as possible before the government imposes development controls."

Where district-wide restrictions have not yet been spelled out in an outline zoning plan, individual approvals may be secured from the Buildings Department. Swire Properties is among those that found this way to avoid height restrictions.

It won approval from the Buildings Department in 2007 for a redevelopment project at 25-35 Seymour Road in Mid-Levels to build a 52-storey residential building. A year later, under an outline zoning plan, the Planning Department issued a directive that would have restricted Swire to constructing a 30-storey building on the site. But armed with its approval from the Buildings Department, it escaped this provision.

But this route was not available on all sites, Law said. "We cannot be sure in the beginning about how many old buildings we may acquire and how big the site may be. So how can I produce a building plan? And if I wait until I have acquired sufficient development sites before I apply for a building plan, the government may have imposed development controls by the time I am ready," he said.

Edwin Leong, the managing director of another developer, Tai Hung Fai Enterprise, agreed that trying to rush building plans through the approval process with the Buildings Department was the only way to beat the tide of tighter controls. But this would not be easy, he added.

"It is difficult to acquire development sites in an urban area. Acquiring old buildings is one of the ways for developers to replenish their land banks. But securing a sufficient number of units in old buildings is a painful process and then we may still have to face tighter development controls when we finish," Leong said.

Meanwhile, both developers and the government must deal with the mounting opposition to high-density housing projects from the public and green groups.

MTR Corp faced the wrath of action group Green Sense when it invited development tenders for its residential project at Che Kung Temple Station in Sha Tin last year. Green Sense said the project design would block air flow and views for existing residents in the area.

It also lobbied the Town Planning Board to reduce the development plot ratio of MTR's Tsuen Wan project from five to three and the number of towers from seven to four last year.

Neither of the objections was upheld, but they provided the MTR with a foretaste of the mounting opposition to high-density living in Hong Kong and this year it hastened to secure approvals from the Buildings Department for three other development projects already on the drawing board and not yet subject to outline zoning plans.

The rising density of Hong Kong's residential towers prompted Katty Law Kar-ling, who has lived in Mid-Levels for 30 years, to set up the Central and Western Concern Group with several neighbours in 2005 after the government put the former Hollywood Road Police Married Quarters on the land application list.

"A lot of tall buildings have been built in the district over the last 10 years. The redevelopment projects blocked views and worsened traffic jams. We believe the government should keep the former quarters for community use rather than residential use. The district lacks open space," she said.

Other residents, however, are more concerned about higher values for their old apartments.

Alex Lo, a resident of an old building at Seymour Road, received an offer from a developer to buy his flat for HK$11,000 per square foot last year. While he and other residents were considering the deal, the government imposed a height limit on the site. "We haven't heard another word from the developer and the market price of my flat is HK$6,300 per square foot only," Lo said.
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Old June 24th, 2010, 07:04 AM   #8
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image hosted on flickr
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Old September 4th, 2011, 06:41 PM   #9
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Looks like this one is U/C!

By CASH832 from a Hong Kong photography forum :

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Old September 4th, 2011, 06:50 PM   #10
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I can't see anything that looks like construction in that picture. Could you perhaps make a circle around the construction site in Windows Paint?
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Old September 4th, 2011, 06:56 PM   #11
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Quote:
Originally Posted by droneriot View Post
I can't see anything that looks like construction in that picture. Could you perhaps make a circle around the construction site in Windows Paint?
Well, it's not my photo, so I'm reluctant to add drawings on it. But if you look at the centre of the river all the way to the back, there are 3 cranes on 3 buildings that do not have any lighting.
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Old September 4th, 2011, 07:17 PM   #12
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Did they forget tower 4?
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Old September 11th, 2011, 09:37 AM   #13
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Quote:
Originally Posted by lianli View Post
Did they forget tower 4?
I passed near the site again yesterday and noticed the 4 towers are arranged in an L pattern. So from the Shing Mun River vantage point, you can only see 3.
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Old September 11th, 2011, 11:39 AM   #14
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7/24 (see post http://www.skyscrapercity.com/showpo...&postcount=818)

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Artistic decorations inside and outside of the buildings
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Old September 11th, 2011, 03:57 PM   #15
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@hkskyline and Car L
I see. Thanks.
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Old March 6th, 2012, 06:03 PM   #16
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image hosted on flickr

Shatin Sing Mun River by Johnny__Ko, on Flickr
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Old April 13th, 2012, 12:42 PM   #17
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The River Park 溱岸8號



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Last edited by Car L; April 28th, 2012 at 03:46 AM.
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Old June 7th, 2012, 03:56 PM   #18
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31 May 2012
The Riverpark Presents Tasteful Three-room and Two-room Show Flats
Press Release

Unveiling A Crown Jewel of Waterfront Luxury Residence

The Riverpark is a new luxury residence jointly developed by New World Development Company Limited ("The Group"; Stock Code:17.HK) and MTR Corporation Limited. The developers unveil the three-room and two-room show flats today (31 May), offering the media a first glimpse into the beauty of this urban paradise on the bank of Shing Mun River and atop the Che Kung Temple Station in Shatin.

Tranquil three-room residence by the river

The three-room decorated show flat in flat B, 38/F of Tower One measures about 1,225 square feet (939 square feet saleable) and offers simplistic charm. The light hues and clean lines throughout the flat create a serene oasis by the river. The welcoming sense of warmth is heightened by the abundant use of wood, such as the wood flooring in the living-dining room and bedrooms, and the sophisticated harmony is further highlighted by the simple yet chic ornaments.

The living-dining room of rectangular shape features a floor-to-floor ceiling height of 3.15 metres, offering ample space for a splendid chandelier perfect for an opulent home. While residents can enjoy high flexibility in layout design by removing the non-core walls, they are also surrounded by the breathtaking views of the river, Tolo Harbour and the pristine nature with a wide window extending from the living room to the master suite, complementing the indulgent lifestyle.

A generous walk-in closet, a feature rarely seen in the district, is also available in the master suite for discerning city dwellers who take only the best.

Stylish two-room unit with exceptional enjoyment

The furnished two-room show flat at flat F, 38/F of Tower Two measures 668 square feet (511 square feet salable) and comes with a practical rectangular layout and a floor-to-floor ceiling height of 3.15 metres. The chic design focuses on the use of natural materials, soothing colours and tactile finishes, reflecting a strong personal style. The linear arrangement creates a visual impact and accentuates the sense of spaciousness while every detail speaks of exceptional taste.

Originality and individuality are infused in the ingenious layout with the two rooms merged together to form a large space serving as the bedroom, walk-in closet and workstation. The sliding door separating the master suite and the living-dining room also contribute to a highly flexible and personalized layout . The master suite is a perfect place to house charming furniture and ornaments, and its L-shaped window allows residents to enjoy a panoramic view of the landscaped garden and azure swimming pool.

Expecting the residents would settle only for the best, the units use materials and equipment that are comparable to the finest luxury residences in the world. In the kitchen, the cooking hob and the extractor hood are made by the top German brand Gaggenau; the refrigerator, oven, microwave oven and washing/drying machine are made by Siemens. In the bathrooms, the fixtures are from top brands like Kohler, Duravit and Hansgrohe.

The show flats in Discovery Park, Tsuen Wan will be open to the public at 10am, 1 June 2012 (Friday). It will be open from 10am to 7pm daily. For enquiry, please call 8338-8388.

About The Riverpark

Luxury riverside residence The Riverpark offers 981 upscale units in four grand residential towers and its unique location provides easy access to Sha Tin town centre and Sha Tin Park. The 981 upscale units provided by the four residential towers come in various layouts, from two to four bedrooms double en-suite. Every unit has its own balcony. With a floor-to-floor ceiling height of 3.15 to 3.5 metres, all flats are extraordinarily spacious. The development offers mostly 3-to-4-bedroom double en-suite units and has private landscaped amenities over 130,000 square feet and a spacious clubhouse of 48,000 square feet. Top brands have been selected for both its kitchen and bathroom, including Gaggenau and Siemens.

New World Development Company Limited

New World Development Company Limited ("The Group"; Stock Code: 17.HK) is a leading conglomerate based in Hong Kong. The Group was founded in 1970 and publicly listed in Hong Kong in 1972. It is a constituent stock of the Hang Seng Index with a total asset value of HK$270.2 billion as at 31 December 2011.

For more than four decades, the Group has expanded from a single focus on the property business to four core areas: property, infrastructure, service and department store. As at 31 December 2011, the Group has an effective interest of approximately 60.4% in NWS Holdings Limited (Stock Code: 659.HK), approximately 69.8% in New World China Land Limited (Stock Code: 917.HK) and approximately 72.3% in New World Department Store China Limited (Stock Code: 825.HK).
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Old June 14th, 2012, 11:32 AM   #19
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Riverpark in strong debut amid dispute
The Standard
Thursday, June 07, 2012

New World Development's (0017) project atop Che Kung Temple MTR station made a strong debut yesterday despite accusations the builder did not reveal that views may be blocked due to a future development.

The Riverpark, in Sha Tin district, sold 70 percent of 186 units on the first day of the sales, fetching HK$1.3 billion.

The units - mostly three- to four-bedroom flats - fetched about HK$8,600 per square foot. Some faced Shing Mun River and were sold at an average HK$9,600 psf.

Most of the buyers are end-users and upgraders, the developer said, as about 80 percent of the purchases were done through an upfront payment plan.

The Riverpark is a joint venture between New World and MTR Corp (0066).

They issued price lists of another 137 flats yesterday. The cheapest is a 1,227 sq ft unit at HK$9.57 million, while a 1,812 sq ft apartment is the most expensive at HK$22.06 million.

There have been reports that the developer failed to mention in the brochure that a site next to The Riverpark - formerly the Assembly of God Church - may be built into a hotel that could block the river view of some units in the lower-to-middle floors.

The developer denied any misrepresentation.

According to Town Planning Board documents, Sun Hung Kai Properties (0016) and Hang Lung Properties (0101), which own the land, applied for its rezoning in 2009, but withdrew the application after strong opposition.

Meanwhile, several other developers are rushing to launch their projects.

Providence Peak in Tai Po, developed by a consortium led by Sino Land (0083), revealed the prices of the first 50 units.

The flats - 1,310 to 2,037 sq ft - are priced at an average of HK$8,379 psf. The developers expect them to generate around HK$677 million.

The project, being the second phase of the Providence Bay development, has a total of 548 mostly three- to four-bedroom units.

Housing Society's Heya Green project in Sham Shui Po will put on the market the last of its 80 standard flats at an average price of HK$8,265 psf.

In the same district, Gardenia of Kowloon Development (0034) will launch 38 more units at an average price of HK$7,845 psf.

Emperor Investment (0163) said it will outline the sales strategy of its project in Kowloon City, The Prince Place, today.
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Old June 14th, 2012, 01:45 PM   #20
Eric Offereins
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It looks like a geat location at the waterfront. Good views for now at least.
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