( By Yan Lunle)
The scale of MTR's LOHAS Park in Tsueng Kwan is very large. Although citizens can check its detail development plan from "Master Layout Plan", but the location of 86th zone phase 4 in Tsueng Kwan has been a puzzle. The site is nearby the land which planed to be built on middle and primary school that next to Le Prestige, and it estimated to be built on 4 buildings in 46-55 layers, supplying about 1,600 units, while the plaza citizens expected is not included, pointed by who knows about MTR source.
MTR hurry to launch 86th zone phase 4 in Tsueng Kwan in this quarter, which is the largest land of this financial year and will supply 1,600 unit. The latest source pointed MTR will launch application letter within this week at the soonest. MTR spokesman only expressed will launch the project as soon as possible but will not disclose its specific location and development detail before the launch when responded the inquiry yesterday.
It is nearby Le Prestige and includes 1,600 units.
Phase 4's is not where market rumors told in the past, which was believed nearby LOHAS Park phase 3 or on top of shopping mall built in future, while the actual location is oceanside area nearby Le Prestige and middle and primary school built in future, disclosed by source insider. According to the master layout plan, this land is as large as of phase 3 and will be built on 4 residential buildings in 46-55 layers, supplying about 1,600 units.
It is believed the shopping mall which citizens of the district always expected is not included. Going through the data, although MTR had invited tenders for ground engineering of shopping mall in the end of last year, but how and when still is a puzzle. It is known, shopping mall will be in the center of the whole LOHAS Park, in cover area of 0.4-0.5 million sq ft.
The whole LOHAS Park will be divided into 9-13 phases until 2020, and there will be about 50 buildings including more than 20,000 units after finish. Currently, the first 3 phases including 6,368 units are developed by Cheung Kong, and the last land sale was in 2007, later once more in 2010, while government brought forward modifying use of "Government, Institutions, and Community" land which misfit MTR's plan, prolonging the bidding date. According to current progress, all of the land sites can be put on sale before 2020 is doubted.
Industry looks bad to the bidding in this month.
LOHAS Park's development suffered many setbacks. Besides derogatory informations about material, design and worker's back pay, the bidding of phase 4 failed. Some surveyor low down the land valuation after premium to only HKD 2,500 for each sq ft, similar to land price in Tuen Mun, and what's worse is the project may be failed.
Land sq ft valuation in Ma On Shan is HKD 7,200 at the highest.
In addition, since land market is dull and government's land failed in bidding, so some surveyor looks good to sea view land in Pak Shek of Ma On Shan which will be closed in this Friday. Lin Jinchao, the Director of A.G. Wilkinson & Associates, predicted the market value of this land will up to be HKD 3.1 billion, with sq ft floor area land price at about HKD 7,200 base on total floor area of 430,560, which is the upper market valuation currently. Kau Yuk Road land in Peng Chau closed at the same day can be built in about 14,063 sq ft, of which the valuation is about HKD 30 million, with sq ft land price at HKD 2,133, which also is the upper level of market prediction.
