Hong Kong's Wen Wei Po (Reporter Ngan Lun Lok)The local land supply keep on increasing continuously,the URA yesterday officially put up the two reconstruction projects in Sham Shui Po for bidding.Sources,2 lands are bid for the right to development with the way of the highest bidder,the dividend is fixed.Of which,the land with larger scale which located in L Ning Dong Hai Tan Street and Pei Ho Street,with a total of 23 consortia invited into tenders,tender conditions set out, as long as the forward sale proceeds amounted to HKD $7.8 ten billion or more, that the price per square foot of about HKD $15,000,it shall dividends 20-50% to URA.
URA announced to launch out 2 redevelopment projects in Sham Shui Po for bidding yesterday,will stop receiving tender as of December 8.Of which the project which located in Hai Tan Street,Kweilin Stree Street and Pei Ho Street,Sham Shui Po which can be built 845 units intent to invite 23 developers into the standard,but the demand-led reconstruction project located in Hai Tan Street 229A to G which can be built only about 69 units are invited to 25 developers to enter tenders.Two lands have 2 developers because they do not meet the requirements of the standard qualifications were canceled respectively.
Kweilin Street development project,left 27 units for compensation
It is reported that the terms set out in the tender, the URA will retain Hai Tan Street L Street and Pei Ho Street site of 27 units and Hai Tan Street 229A to G will retain the five-layer floor for a total of 15 units 'change flat for flat'.Two sites per unit area reserved units,with the utility area of at least 260 feet or more requirements, including Hai Tan Street 229A to G, because there are units reserved for owners of old buildings have been 'change flat for flat' compensation and been reserved about 449 feet,so future developers to build more than a similar provision apartment.
As for the way of bidding,the sources said,the two sites by the developer to the highest bidder to bid for the right to development mode. Hai Tan Street L Street and Pei Ho sites,selling properties earnings amounted to HKD $7.8 ten billion or more on the need to dividends,net retention per unit area,that is priced at about HKD $15,000 per square foot or more. The first HKD $2.0 billion dividend 20%; the second HKD $2.0 billion dividend 30%; the first HKD $2.0 billion dividend 40%; if the income of more than HKD $6.0 billion,the forward sale proceeds amounted to HKD $8.4 ten billion or more,the dividend amounted to 50 %.
Another site with much fine scale located in Hai Tan Street 229A to G,selling properties revenue amounted to HKD $3.5 billion or more needed to dividends, after deducting reserved for "flat for flat" units, priced at about HDK $13,000 per square foot or more .Dividend ratio, the first HKD $2.0 ten million dividend 20%; the second HKD $2.0 ten million dividend 30%;the third HKD $2.0 ten million dividend 40%; if the income of more than HKD $6.0 ten million, the sales revenue reached HKD $4.10 billion or more, dividends amounted to 50%.
Hai Tan Street site was expected to bid by multi-developers
Cushman & Wakefield Valuation Consulting,Greater China director Cheung Kiu Choi said the project site in Guilin Street selling properties income level, is close to the same area real estate cost,but because of the large size of the project, the high investment required,it is believed that the Chamber of Commerce hopes to accelerate the development of back This issue,so the bid will be relatively conservative prediction of interest to large developers are expected to have a consortium or joint venture tenders will be received at least 10 bids. Another one Hai Tan Street investment due to finely detailed,it is believed that the number of tenders up to 15 copies or more.
It is understood that the projects in Guilin Hai Tan Street,Kweilin Street and Pei Ho Street in Sham Shui Po covers three adjacent sites, approximately 539,300 feet of residential floor offers approximately 845 units,commercial floor area of about 58,100 feet.Another mini site,rebuild project is located inn No.229A to G,Hai Tan Street, Sham Shui Po,for the first round of "demand-led" pilot project can be built residential floor about 34,900 feet, providing about 69 units, in addition will also have 4,306 feet of commercial floor area.
