As for the Police Address launched today, Some small developers expect government to actively increase the supply of commercial lands besides residential lands. It is because there are no many choices of current supplied commercial lands.
BILLION Dev. : Choices of commercial lands are less
Li Yu-zong, the project planning manager of BILLION Development appealed government for increasing commercial land’s supply yesterday because the current choices of lands are less.
He pointed out, their project in No.6, Wang Kwong Road, Kowloon Bay has not received the notice about land premium. The estimated receiving time will be in next two weeks. The price is a little high if the land premium for each sq ft is HKD 5,000 according to the market source. But considering the property price in the past one year rose a lot, they will think about to accept it. He emphasized there is still one appeal opportunity technically according to the current building speed of the property, but it still depend on the notice result. The project will be occupied in 2nd -3rd season this year at the soonest. It will be put on sale as ready flat at intention sq ft price of more than HKD 10,000.
He pointed out, there will be BILLION Plaza in No. 3, Hoi Shing Rd, Tsuen Wan mainly being put on sale in first half of this year. The occupation will be in 6-8 months later. As for the luxury project in Kowloon Tong, it will be put on sale as ready flat between March and April at the soonest. The intention sq ft prices of large house and small house among are respectively HKD 30,000 and HKD 25,000. Thereinto, BILLION Plaza will put on sale 7th -8th floors. Liu Ji-zhong from Savills expressed, the whole 7th floor among will be put on sale publicly. It will divided into 19 units between 1,630 sq ft and 5,132 sq ft. The owner’s intention price is between HKD 3,670 and HKD 4,580. The average sq ft price of the 10 units among which already sold is HKD 4,300. The whole 8th floor will be kept and sale as one unit. Later, they will put on sale 5th and 6th floor.
First Group plc except more small and medium residential lands.
Huo Wei-liang, the director of First Group plc also appealed government for more small and medium lands which can supply more choices to small developers. They have intention to buy luxury land this year.
Their rebuild residential project in Kowloon Tong which in cover area of 7,100 sq ft and total floor area of 11,700 sq ft will be completed and be put on sale at the beginning of next year. The intention usable area sq ft price will between HKD 50,000 and HKD 60,000.
