Difficult to collect agreements from title holders. Suggest to permit stages developing.

( By Yan Lunle) The developing term of Comprehensive Development Area (CDA) is normally longer many times than it in general use land. Yau Tong Bay project leaded by Henderson is the most classics example for this. It got Town Planning Board's planning approval in the beginning of this year after 20 years of preparation since 1993. Yau Tong Bay supplies 5,231 units of property and 906 units of hotel room. While in Sha Tsui Road of Tsuen wan east which is divided into many CDAs 3 years before, it will not ready for property building even 10 years later, Chen Zhixin says, who is the Executive Director and Director of valuation and Real Estate Development Consulting Department of Knight Frank LLP . Yau Tong Bay project got approval after 20 years of waited time. 　 It needed to collect agreement from more than 80% of title holders for Yau Tong Bay project's developing, which was difficult because the project includes 39 areas from many title holders, Chen Zhixin expressed. He explained, the overall project only can be developed in plot ratio of 5 times, but it gains no benefit for some areas such as site of Rong Shan industrial building with current plot ratio is about 11 times. Although the project is approved, but there will at least be 6-7 years before the embryo building finished after 2-3 years of land changing, discussing period about land premium between with government and construction term. No need to waste 18 years if approving of Ho Chung project is relaxed moderately. Let's go through to another example. Ho Chung project in Sai Kung which mostly owned by Hong An also wasted 18 years because of the same reason of multiple titles. This site includes the Lee Kum Kee's factory and Li Chengxing's canned fish sauce workshop besides Hong An’s land. The project applied for building 40 units of villa but was rejected in the beginning of 2011 when was the last application until now. Town Planning Board believed the project was unable to supply ancillary facility on time under Hong An's suggestion of stages developing, neither was able to solve the problem of industry building adjoining residential area. 　Chen Zhixin believed, the disagreement in Ho Chung land project which only has 2-3 large owners should be solved by negotiation if government used positive and active attitude to deal with it instead of just rejecting. Actually, the Town Planning Board can consider the plan of stages developing if the integrity is unaffected. They also shall really know if the other two factories are still running at the meantime, and ought to relax on approving the project if knowing other owners agree to develop. Sha Tsui Road land project will be in very long term developing. 5 CDAs in Sha Tsui Road of Tsuen wan east which are recent example of this situation include many titles. It faces large difficult for building property on the other CDAs except the site of Tai Wo Hau Factory Building which is a site for Home Ownership. Sun Hung Kai plans to develop their Edward Wong Industrial Building located in 「CDA3」recently, but they have to develop the other 3 industry buildings together. It is difficult to get approval from Town Planning Board because they haven't receive other owners' agreements. Chen Zhixin estimated, it will take 10 years more to develop the whole CDA. He criticized government do not encourage the owners enough and caused the dead end of developing.

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