Kangcheng 11 is expected to value 8.6 billion
The first tender project of the MTR (00066) this year (January-December 2019) officially debuted. Today (15th) will launch the 11th phase of Tseung Kwan O Sunrise Cancun, which will be closed next Friday (22nd). The construction of a maximum of 1,850 units, the market estimates that the project is ideal, calculated by the market value of the land (including land premiums and other factors), the market value of the site is about 4.3 billion to 8.61 billion yuan.
Industry: suitable for small and medium-sized households
Sunrise City Phase 11 is adjacent to the completed Blue Sky and the seventh phase of construction. It is located in the shopping mall under construction and consists of three residential buildings. It is expected to provide up to 1,850 residential units. The MTR pointed out that the residential floor area of the project is about 956,468 square meters, and the letter of intent has been officially recruited today.
The MTR Property Director, Mr Tang Chi-fai, has revealed that as the 11th phase of the Sunrise City is a superstructure project, the MTR has already carried out a number of preliminary works on the project, including piling. It is expected that the successful bidder will only need to submit the building plans for the development project. For approval, etc., the cover project can be carried out. MTR pointed out that the entire project is expected to be completed in 2025.
The project will intercept the letter of intent next Friday. The industry estimates that the market value of the site is about 4.3 billion to 8.61 billion yuan, and the land price per square floor is about 4,500 to 9,000 yuan.
Pu Sheng Executive Director and Director of Corporate Development (valuation and property management) Zhang Shengdian estimates that the location of the site is more suitable for the construction of small and medium-sized units than the other phases of the coastal sea in the city. It is believed that it can attract developers to enter the bid, and the estimated market value of the land is about 8.61 billion yuan.