Hong Kong's Wen Wei Po (Reporter Ngan Lun Lok)The government continued to supply the lands for the market yesterday,the land in Tai Po and Sai Kung have closed receiving tenders yesterday,then received seven and 17 bids respectively,the reaction was in line with expectations.Of which the land in Pak Shek Kok,Tai Po with a huge amount of investment,only for the land valuation have accounted for about HKD $3.579 ten billion to HKD $5.010 ten billion,becoming the major target for developers to compete for it,including Cheung Kong,Sun Hung Kai Properties,the New World, etc.have entered the bids.Of which Sino Land of 'Pak Shek Kok big landlord'also entered the bids with private capital in order to expand its 'Kingdom of Pak Shek Kok kingdom'.
The lands in Fo Chun Road,Pak Shek Kok,Tai Po which closed receiving tenders yesterday with a large-scale,the site area of 204,516 feet and 715,806 square feet of gross floor.Comprehensive market information,the seven consortia which have entered the bid yesterday,including Cheung Kong,Sun Hung Kai Properties,New World,Sino Land,Wheelock,Paliburg and Regal,the response was ideally.The market valuation of lthe and of about HKD $3.579 ten billion to HKD $5.010 ten billion,the floor price of about HKD $5,000 to HKD $7,000 per sq.ft,along with the construction costs and forecast the development costs will reach HKD $5.0 ten billion to HKD $6.5 ten billion.
The bid on the land in Pak Shek Kok was expected to be cautiously
Midland Surveyors Lam Tsz Bin said that the land in Pak Shek Kok,Tai Po was a project with medium density,the amount of investment was larger,so it have attracted the medium and large developers entered the bids.Due to the fact that there are land supply which with comparable low-density in the region next year,so it is expected that the developers won't bid the lands too aggressive.Also there are surveyors refers to the shape of a trapezoid of land in Pak Shek Kok,also there are not much waterfront location,so it will have an impact on the land price;and also there are lands around will start receiving the bid soon,as to achieve synergies,it must also balance the risk of land bid,it is believed that the developers will bid carefully.
In fact,Pak Shek Kok area was a major new source of land supply for the next fiscal year land sale plan.Of which the land intended for the expansion of a science park in original also rezoned as residential properties and subdivided into four residential lands which will supply 3,380 units,the Town Planning Board has amended the relevant yesterday and launched out a two months consultation.TPB has amended the relevant Ma On Shan plan to cope with the expansion of Yan On Housing Estate,Ma On Shan Road HOS development,the amendment also includes a residential land located in Lok Wo Sha area of Wu Kai Sha Station,will also consult for two months.
The land in Sai Kung can be built detached houses
In addition,the residential land which located in the junction of the Clear Water Bay Road and Pik Sha Road in Sai Kung also stopped receiving the tenders yesterday,the relative size of the site is much more detailed,covering only 13,376 feet of gross floor and with a buildable area of approximately 8,026 feet.The upper and lower floor price of Sai Kung were HKD $12,000 to HKD $15,000 per sq.ft respectively,the market valuation of about HKD $9.60 ten million to HKD $1.2 ten billion.Due tot the fact that the fine amount of investment,so the bid of the land have attracted up to 17 consortia to bid for it yesterday.Except for the developers,there are also real estate investors and individual home-users have entered the bid,it is believed that the cost will be decent in th future.
At the scene can be seen,consortium whic entered the bid of Sai Kung land,including Emperor International,Paliburg and Regal, Sino Land, CCIL, Po Sing Group.Senior Property Officer of Sino Land Shi Wing Yi said after the bidding,Sai Kung land is a traditional mansion location,also the land with a sea-view,also can develop into a low density luxury.Although the Government has greatly increased the supply of lands,also the lands in Tuen Mun sold in a cheaper prices recently,so each piece of land has its own advantages and did not affect the company's bid.
Senior marketing planning manager of Chuang's Consortium Chan Hing Kong yesterday said that the land in Sai Kung near the highway leading to the city,a short drive from Tseung Kwan O,coupled with there are not much houses supply on the East of Kowloon,so it is believed that the market have demand on it,this land can be built on two to three detached houses.Referring to the recent downturn in the land prices,he refers the lands in Tuen Mun can't be compared with the lands which closed the bid yesterday,also used the Kai Tak land which ended the bid in the earlier days as for example,refers to the land price are not low either.
