Hong Kong Island South Coast Phase 6 receives 38 intentions

MTR Wong Chuk Hang Station "Hong Kong Island South" Phase 6 closed yesterday. MTR announced that it had received 38 letters of intent, which is the second highest number of letters of intent among the 6 Phase 6 development projects on Hong Kong Island South Coast. . The project is located on the northeast side of Wong Chuk Hang Station. The maximum floor area is about 503,765 square feet, and it will provide no more than 750 residential units.

Can build more than 500,000 square feet

Based on market information, the developers who submitted letters of intent yesterday included SHKP, Wheelock, Chinachem, Empire Group, Yuanzhan, Chevalier, Java, Emperor, etc. As for Chinese-funded developers, there are Country Garden, CIFI Group, and China Overseas. Kings International Property Director Au Zhiqing said that the project is the last phase of the south coast of Hong Kong Island. He believes that the railway superstructure project has certain appeal. If it wins the bid, it will develop small and medium-sized units.

The MTR indicated that it will compile a shortlist of selected bidders and invite the submission of formal tenders to implement the tender arrangements as soon as possible. Zhang Jingda, executive director of Centaline Surveyors, said that the response to the interception of the letter of intent this time was in line with market expectations. Due to the recent rebound in market conditions, developers are also actively submitting their intent.

Knight Frank executive director Lin Haowen also believes that the property market has been in a good mood recently, and the number of letters of intent is in line with expectations. It is expected that about 10 to 15 developer associations will formally enter the bid. He also pointed out that the government's land supply is limited this year, and the "one railway, one bureau" project will guide the market conditions. In addition, the supply of large-scale residential land at the MTR station in the future will be limited. This phase of the project is close to the Wong Chuk Hang MTR station, which has considerable advantages. Coupled with the maturity of supporting facilities in the area, it is believed that developers with projects in the same area will be more interested.

Market participants estimate that the land premium per square foot of the project is similar to that of Phase 5, that is, the land premium per square foot is about 10,000 to 10,500 yuan. If the land premium is included, the project value is about 8 billion to 10 billion yuan, and the land price per square foot is about 16,000 to 20,000 yuan. After the completion of the residential part, it can sell for 28,000 to 30,000 yuan per square foot.

Kwai Hing Yip Shing Street Industrial Building Redevelopment

In addition, some industrial building owners continue to apply to the Town Planning Board for activation and relax the plot ratio. A consortium applied to relax the plot ratio of the industrial building at Nos. 14-15, Kwai Hing Yip Shing Street, Kwai Chung District, increasing by 20% to 11.4 times from the original 9.5 times. It is planned to be rebuilt into a 22-storey building (including 2-storey land and 1-storey platform) The new-style industrial building has a total floor area of approximately 161,900 square feet. The applicant stated that the rezoning is in line with the government's policy direction and also supports the reorganization of the land use in the Kwai Chung Industrial Zone.

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