Constantly fried 3 farmland quick replenishment Merrill Lynch refers to the management led the self-explosion involving more than 180 million square feet
has led analysts to survey the reserves of agricultural land in the New Territories, with more than one broker said that the management of the Henderson period blew “good things". Bank of America Merrill Lynch reported that the management said, confident Fanling, Gu Dong North and Sheng Wai project can be completed before the end of land premium, involving the floor area of more than 1.8 million square feet, driven by constant price yesterday, 3.4%. Ming Pao reporter Chen Weishen, Lin Shangmin
Since the beginning of September, when the Government intends to speed up the conversion of agricultural land in the New Territories, the real estate sector in Hong Kong is generally well, with a total increase of 13.9% (see table).
According to the report of the Bank of America Merrill Lynch, Fanling (that is, Ma Tou Po land), Gudong North and Sheng Wai project can be built 61 million, 34 million and 890,000 square feet, a total of 1.83 million square feet, the report more Quoted Henderson management said it was confident that a land use could be converted by the end of this year. The bank described, as long as the above three pieces of land to achieve any one or two conversion purposes, and Heng will be completed each year 800,000 to 1.1 million square feet of the size of the floor is similar. The bank estimated that the two land to complete the development of the aftermarket profit of about 4.8 billion, and that is not reflected in the valuation of constant, constant market price relative to the net asset value of 45% discount, it is attractive.
Bank of America Merrill Lynch: Farmland accounts for more than 10% of total assets. Bank of America Merrill Lynch estimates that the value of 45 million square feet of New Territories farmland in Henderson is equivalent to 10% to 20% of the total Gross Asset Value. The Fanling and Kwu Tung North projects are expected to be fully subsidized at the end of this year. The Government offer is also quite close to that of Henderson. The bank expects that the projects will be launched in 2020 pre-sale.
The other is applying for the conversion of 709,000 square feet of land in the north of Fanling North, which is expected to be 348 million square feet. The bank also said that the Government should set up its infrastructure at Fanling North and Kwu Tung North to earn $ 1,100 per square foot of cash compensation to Henderson. In the middle and long lines, there are 6.5 million square feet of agricultural land in the flood bridge for further development.
Chelsea Securities analysts also reported after attending the Henderson event Monday, quoting Henderson’s management as saying that the recent conversion of agricultural land use was faster than before, and that the price of the Government was more reasonable and that its new agricultural land use was expected to Implemented in the coming months. The bank is expected to continue to convert New Territories agricultural land in the next 20 years, will help its net worth of 26%, and reiterated the rating, the target price of 67 yuan.
Henderson real estate spokesman said that this is due to analysts asked to understand the Group’s projects in the New Territories, so the Group’s Finance Department colleagues with the analyst to visit the project and inspection. As far as she knows, the contents and information of the project are similar to those displayed in the corporate information contained in the annual report and website.
In fact, in addition to the above will be completed to fill the premium of the project, with the Hengda’s Tai Po’s banana pit project, as early as last October by the City Council to pass the public The development of the concept of private development, or the opportunity to deal with one of the first set of car on the project, the total development of the project floor of about 392.3 million square feet, the project is divided into two sites, which near the camphor tree site (B site) will be private Development, the proposed five 9 to 13-storey residential buildings, providing 506, involving the floor about 287,800 square feet. As for the site (A site) adjacent to Tolo Highway, four 12 to 14-storey housing units will be built to provide 289 flats.