( By Yan Lunle)
In earlier, MTR announced to change part of the truck parking nearby Maritime Square into plaza, but the project had been proved by government in February to modify the land premium, which is HKD 1.26151 billion, and it predicted to be finished in 2017. In addition, residential land in 3 Deep Water Bay Road owned by Chinese Estates Holdings Limited Chairman Joseph Lau and related people also is approved to modify land premium at amount up to HKD 197.61 million.
MTR said the investment amount is HKD 2 billion.
MTR's new plaza project in Tsing Yi will be built out about 130 thousand sq ft floor area in 4 layers, which had been approved by government to modify land premium in February, and it is limited to use of " commercial, truck parking and public transport terminus", relating to HKD 1.26151 billion, with each sq ft share land premium at HKD 9,686. The project is predicted to start in the middle of this year and finished in 2017. The project is MTR's first sole proprietorship plaza and the investment will be HKD 2 billion, pointed by MTR spokesman.
Besides, 3 Deep Water Bay Road owned by Chinese Estates Holdings Limited Chairman Joseph Lau and related people also is approved to modify land premium at amount up to HKD 197.61 million, of which the use is limited to "Residential (C-class)", and the floor area is about 811 sq meter (8,730 sq ft), with each sq ft share land premium at about HKD 22,636.
Joseph Lau's land in Deep Water Bay Road need to pay land premium at HKD 0.19 billion.
What worthy to be mentioned is, Chinese Estates Holdings Limited sold this land to Joseph Lau at about HKD 0.9945 million in way of cash and mortgage after bought it in 2011, so it means Lau need to inject HKD 1.19211 billion before rebuilding this luxury property in Southern District plus with the land premium, leading sq ft land cost including land price and premium up to HKD 136,600 base on rebuild floor area in about 8,730 sq ft. It really is Lau's favorite, or he would not buy it by such sky-high price.
In fact, 3 Deep Water Bay Road is located in core luxury area in Southern District and in cover area of about 11,640 sq ft, the former of which is「LYNX HILL」and owned by Hong Kong Jockey Club. It is a mansion in 3 layers with total area in about 7,298 sq ft. This property was sold at HKD 888 million in August 2011, with average sq ft price up to HKD 121,700, breaking the highest record on sale price and sq ft price of Asian villas at that time. In November 2011, Chinese Estates Holdings Limited transferred it to Lau and related people.
Kwun Tong 2 commercial buildings are approved to be activated .
Besides, Lands Department launched 3 signed special waivers to approve commercial building activation. There into, Glorious Sun Enterprises' Dexin Industrial Building in 28A Hung To Road in Kwun Tong is approved to be changed the whole into hotel However, developer has another plan to build 1 hotel in 24 layers supplying 136 rooms, which was added 38 rooms than the plan approved in 2011, and the total floor area will be added by 11.4% to about 66,800 sq ft, according to data that the project submitted to Town Planning Board yesterday.
Senior investor Kuang Hailuan's Jingxing Industrial Building in 132-134 Tai Lin Pai Road Kwai Chung is also activated into 8 layers in total floor area of 45,639 sq ft for restaurant and office. The other project approved is Kwok Kee Group Centre in 107 How Ming Street of Kwun Tong. Its uses are training centre, restaurant, education institute, office, private club and so on. It is known the site area is about 9,300 sq ft, and the building is 9 layers, in total floor area of about 70,000 sq ft.
