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Old June 24th, 2009, 06:31 PM   #1
hkskyline
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HONG KONG | Emerald 28 | 31 fl | Com

Lai Sun to pay $303m for Kowloon site
27 June 2007
The Standard

Project Rendering



By 鄧麗欣之戀 from skyscrapers.cn :



Lai Sun Development (0488) has secured a residential site in Kowloon for HK$303 million in a public tender. The winning bid marks the Hong Kong- listed developer's second purchase in recent years.

The company intends to build a residential-commercial project on the 7,152-square-foot site located at 22, 24, 26 and 28 Tai Po Road in Prince Edward.

The project will generate a gross floor area of more than 60,000 sqft.

The estimated construction period will be about three years after delivery of vacant possession of the property, on completion of the acquisition in the third quarter, subject to the terms of the conditions of sale by tender, Lai Sun said in an announcement to the Hong Kong stock exchange.

The total investment, including land costs, construction expenses and other fees, has not been disclosed. Analysts estimate the outlay at more than HK$400 million.

Lai Sun said it paid an initial deposit of HK$15 million for the site on submission of the tender Friday. Under the conditions of sale by tender, a further deposit of HK$15.3 million will be payable by the winning bidder next month with the rest payable upon completion scheduled to take place in the third quarter. Lai Sun intends to fund the acquisition from internal resources or banking facilities.

In May, Lai Sun and partner toy magnate Francis Choi Chi-ming sold Majestic Hotel and Majestic Centre, a hotel-retail complex in Yau Ma Tei, to an investment fund for HK$1.69 billion.

Last year, Lai Sun teamed up with AIG Global Real Estate Investment (Asia) to acquire a development site in Wan Chai for HK$595 million.

A residential-commercial project will be built on the 10,807-sqft site at 20-34 Wood Road at a cost of HK$920 million, including land and construction expenses.

When finished, it will have a GFA of 120,040 sqft.

Lai Sun is also considering redeveloping the Ritz-Carlton in Central as a hotel plus office complex.

Shares of Lai Sun Development closed unchanged at HK$0.295 Tuesday.
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Old July 5th, 2009, 07:32 PM   #2
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By fatshe :



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Old July 9th, 2009, 07:46 PM   #3
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翠峰 廿八Emerald 28

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Old July 9th, 2009, 07:47 PM   #4
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I'm a bit surprised how short this one is, considering redevelopments now tend to go 50+.
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Old July 9th, 2009, 08:06 PM   #5
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Old July 9th, 2009, 11:52 PM   #6
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I agree. Only 31 floors?
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Old July 11th, 2009, 05:38 PM   #7
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By 鄧麗欣之戀 from skyscrapers.cn :

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Old September 14th, 2009, 04:07 PM   #8
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This should be it? 8/30

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Old December 3rd, 2009, 04:57 PM   #9
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By 鄧麗欣之戀 from skyscrapers.cn :

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Old December 31st, 2009, 11:13 AM   #10
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Old January 2nd, 2010, 12:29 AM   #11
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They really should start learing to drive on the right side of the road over there.
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Old January 4th, 2010, 04:51 PM   #12
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^ British-style!
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Old January 8th, 2010, 03:05 PM   #13
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12/20













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Old January 8th, 2010, 03:07 PM   #14
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Old January 14th, 2010, 01:21 PM   #15
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Old January 14th, 2010, 02:55 PM   #16
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Quote:
Originally Posted by OEincorparated View Post
They really should start learing to drive on the right side of the road over there.
why?
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Old January 15th, 2010, 09:54 AM   #17
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Big windows.
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Old January 25th, 2010, 07:15 PM   #18
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The windows look standard size for the new developments these days. Lots of glass to make a greenhouse effect inside!
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Old March 13th, 2010, 07:08 PM   #19
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Floorplan

click for floor plan

(Large Image)
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Old April 12th, 2010, 08:48 AM   #20
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By Kilgore Trout and previously posted at : http://forum.skyscraperpage.com/showthread.php?t=180496

image hosted on flickr
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