daily menu » rate the banner | guess the city | one on oneforums map | privacy policy | DMCA | news magazine | posting guidelines

Go Back   SkyscraperCity > World Development News Forums > General Urban Developments

General Urban Developments Discussions of projects shorter than 100m/300ft. Also, please post all other threads not specified in other Development News subforums here.



Global Announcement

As a general reminder, please respect others and respect copyrights. Go here to familiarize yourself with our posting policy.


Reply

 
Thread Tools
Old December 3rd, 2017, 04:58 AM   #41
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,912
Likes (Received): 18174

City’s builders dominate Wong Chuk Hang land sale, regaining upper hand over Chinese rivals
December 1, 2017
South China Morning Post Excerpt

A plot of residential land for sale by tender in the south of Hong Kong Island may be the latest proof that local developers are close to regaining the upper hand in the competition for space to build their projects.

A plot next to the Wong Chuk Hang subway station, which can yield 492,990 square feet of total floor area for 600 homes, may fetch up to HK$10 billion (US$1.28 billion) by tender.

A total of 10 bids were received for the sale, which closed at 2pm on Friday, dominated by local developers Sun Hung Kai Properties, Cheung Kong Property (Holdings), Henderson Land Development, New World Development, Great Eagle Holdings, Wheelock Properties, Chinachem Group and a joint venture between Sino Land and Kerry Properties. China Resources Land was the only mainland developer to submit a bid.

The turnout is a stark contrast from a year ago, when developers from north of the border dominated Hong Kong’s land auctions and tenders, often paying substantially above market valuations to grab land. Those days ended in August, as a regulatory clampdown on outsize asset acquisitions crimped bids, and drove Chinese companies to the sidelines.

“Mainland developers will become more selective in their land acquisition, and are unlikely to repeat buying land at ultra high prices,” said Thomas Lam, senior director at Knight Frank.

MTR, the city’s subway developer and one of the largest land owners, offered the land for sale by tender.

The premium for the phase two development at Wong Chuk Hang – close to the Ocean Park theme park – is likely to be HK$5.21 billion, or HK$10,568 per square foot, according to a source with knowledge of the tender document but who did not wish to be named.

Together with construction cost, a residential housing project would require total investment of between HK$8.87 billion to HK$10.35 billion, or roughly HK$18,000 to HK$21,000 per sq ft when the project is completed in 2023, according to Lam’s estimates. That means the typical apartment complex would need to sell for HK$30,000 per square foot to ensure reasonable profit margin for the developer, he said.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote

Sponsored Links
Old December 10th, 2017, 11:24 AM   #42
hkskyline
Hong Kong
 
hkskyline's Avatar
 
Join Date: Sep 2002
Posts: 86,912
Likes (Received): 18174

Kerry, Sino Land win MTR site
6 Dec 2017
The Standard Excerpt

The tender for a site in Wong Chuk Hang for private residential purposes was awarded to a consortium formed by Kerry Properties (0683) and Sino Land (0083) yesterday. The developers aim to provide 600 flats in two towers.

Owned by MTR Corporation Ltd (0066), the Wong Chuk Hang Station Package Two Property Development in island south has a site area of 92,269 square feet, which has a total gross floor area of 492,991 square feet.

The land premium is HK$5.2 billion, or HK$10,000 per sq ft in terms of gross floor area.

Surveyors estimated that the total price of the site, including the land premium, is between HK$9.8 billion and HK$10 billion.

The project received 37 expressions of interest last month, including from Chinese conglomerate HNA Group, which already owns four residential sites in Kai Tak through its different subsidiaries.

Other applicants included local giants Wheelock Properties (0020), CK Asset Holdings (1113), Henderson Land (0012), New World Development (0017) and Great Eagle Holdings (0041).

The first phase of the project was won by Road King Infrastructure (1098) and Ping An Real Estate, a unit of Ping An Insurance Group (2318), in March, in which the two developers will each take half of the project.
__________________
Hong Kong Photo Gallery - Click Here for the Hong Kong Galleries

World Photo Gallery - | St. Petersburg, Russia | Pyongyang | Tokyo | Istanbul | Dubai | Shanghai | Mumbai | Bangkok | Sydney

New York, London, Prague, Iceland, Rocky Mountains, Angkor Wat, Sri Lanka, Poland, Myanmar, and much more!
hkskyline no está en línea   Reply With Quote


Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Related topics on SkyscraperCity


All times are GMT +2. The time now is 02:06 AM.


Powered by vBulletin® Version 3.8.11 Beta 4
Copyright ©2000 - 2018, vBulletin Solutions Inc.
Feedback Buttons provided by Advanced Post Thanks / Like (Pro) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.

vBulletin Optimisation provided by vB Optimise (Pro) - vBulletin Mods & Addons Copyright © 2018 DragonByte Technologies Ltd.

SkyscraperCity ☆ In Urbanity We trust ☆ about us | privacy policy | DMCA policy

tech management by Sysprosium