Hong Kong's Wen Wei Po (Reporter Leung Yuk Cum)Sino Land (0083) and Chinese Estates (0127) who have bidded the URA Kwun Tong Town Centre 2,3 Zone Project Development Contract in the earlier days of this month have expanded the Kwun Tong territory actively,Sino Land 90% which have accounting 90% of stake in this project,announced the development plan yesterday.Parties announced that it will spend HKD $1.8 hundred billion to build 2,000 residential units which with the area of 500 and 800 feet mostly in order to attract the first-time buyers and the buyers who wanted to change their flat.
Sino Land Sales Associate Director Tin Siu Tuen said yesterday in an interview, plans to approximately 1.5 million feet of residential floor project,the number of applications increased 17 percent unit increase from 1,700 to 2,000 units,the flagship development of 500 ft and 800 ft units,about 80%, in order to attract the first-time buyers and the buyers who wanted to change their flat,along with about 360,000 feet of retail space (to be returned after the construction of URA), with a total investment amounting to HKD $1.8 hundred billion,the investment amount have hit a new high record of the projects of Sino Land development in recent years.
Build bridges connecting Park Metropolitan
Indeed,Sino Land has already developed in collaboration with URA Redevelopment of Kwun Tong District,is the current Park Metropolitan.Ting Siu Yuen said that Sion Land won the bid of 2nd, 3rd District URA Kwun Tong Town Centre project development contracts,the concept of unit area will refer toPark Metropolitan and will introduce green living, building materials,design will maximize the use of natural light and increased ventilation, residential 48-storey maximum height can be built, the future outlook of Park Metropolitan built footbridge to connect Phase 2 and 3 development area.
According to market earlier circulated tenders items to display,the URA haven't set the reserve price,but also allows developers to program the platform facilities (including shopping) at 56 months delivered to the council to extend the period to 72 months,also support the development of Manufacturers modify building plans are under reasonable circumstances,in order to meet increased market demand for more small and medium sized residential units.
Cut the units which with large area and won't design any open units
Tin Siu Yuen pointed out that the group plans to apply to change the number of residential units,primarily through the reference of the sales experience of Park Metropolitan,the units with the area of 500 feet and 800 feet are most popular, if successful after changes to the project by the average unit salable area of about 880 feet to approximately 748 feet and a small amount of four rooms and household characteristics,but there will have no open units provided.Project also has a clubhouse,it is expected to be on sale three years as the fastest time. He said, in order to calculated with the total 299 units of Park Metropolitan,the transacted units with an average sq.ft price of HKD $13,500,the highest sq.ft price of HKD $17,244,there is still 34 remaining units are available for sale.
Kwun Tong Redevelopment Zone 2 and 3 commercial and residential projects, covering about 234,000 feet, the platform has a range of two layered shopping centers, transport interchanges,hawkers bazaar and refuse collection points and other facilities on the platform for the construction of four 42 to 48-storey residential layer,providing about 1,700 units.The total floor area of the project with more than 1.85 million feet,the residential floor area accounted for approximately 1,496,000 feet, the mall floor area of about 360,000 feet and there are another public open space with about 69,000 square feet,it is expected to be completed in 2019 to 2020.
Aimed at the rebuilding project in Zone 4 and 5
Asked whether Sio Land aimed at the rebuilding project in the centre of Kwun Tong District Zone 4 and 5 which haven't launched out the bid by URA yet ,to ensure the expansion of the territory in Kwun Tong,Tin Siu Yuen frankly, the group will study it.Statistics show that the center of the Kwun Tong District 4 and 5 to build a building with 260 meters high (about 60 multi-storey high) landmarks,the landmarks including a 400 room hotel and office space with the floor area of about 700,000 feet and shopping centers located in low level with the area of about one million feet, the development model similar to Pacific Place and the shopping mall was similar to Element in Kowloon Station.
