Lung Cheung Road, Wang valuation of 1.616 billion
This year, the government’s first site with a very large amount of land for cross-bidding will be awarded a bid of 10 billion kms for auction on the tender of Lung Cheung Road, Kowloon Tong, closed on Friday. The market’s highest valuation is almost 16.6 billion yuan, Yuan, is expected to be the king of Kowloon district foot price.
Lung Cheung Road and Lion Rock Tunnel Road mansions, covering an area of over 121,200 square feet.
Due to the huge investment in land development, I believe some developers will join the consortium to bid for it. The Hong Kong and China consortia will have the opportunity to work together again.
Friday closing bid price estimate 38000
To be completed on Friday, Lung Cheung Road and Lion Rock Tunnel Road intersection luxury homes, covering more than 12.12 million square feet, floor to build more than 436.4 thousand square feet. Affected by the thrill of the birthplace of Cheung Sha Wan in November last year, the valuation of the above Lung Cheung Road land has also risen by more than 65% to over $ 16 billion from an initial premium of just over $ 10 billion.
The appraisal of the land market is the most aggressive with Colliers International. Zhang Alice, Deputy Managing Director of Valuation and Consulting Services in Asia, believes that there is no other traditional luxury land in the land for sale. The land can be used as a mixed-use development for residential and bungalow houses.
In his view, the future completion of the land bungalow, some are expected to make a high price, the future practical foot price at any time more than 100,000 yuan, do not rule out the development of commercial developers to compete for price, the estimated floor price per square foot up to 38,000 yuan . Equivalent valuation of about 16.58 billion yuan, the market ceiling.
Sino-Hong Kong joint venture grab material 10 standard
Pu Sheng, director of corporate development (valuation and property management) Zhang Shengdian said that as Lung Cheung Road residential involved a certain amount of investment, the developer or a joint venture tender, the Chinese and Hong Kong consortia have the opportunity to re-cooperation is expected to be Ten bids received.
In fact, in November last year, the Hing Wah Street, Cheung Sha Wan West, which was granted with the highest residential land price of $ 17.288 billion, was approved by 5 domestic and overseas companies including Sino Land (00083), Wheelock Estate and Shimao Property (00813) Consortium bidding for cooperation. In the past year, four billion-dollar kings were eventually born, including two houses and two commercial sites.
Kowloon Tong Lung Cheung Road land information
According to the land sales regulations, the height limit of the residential area at Lung Cheung Road is 160 meters above the main level. The developer is required to lay a section of road leading to Lung Cheung Road and the public footbridge connecting the project.
As the site is located next to the hillside, the developer is also responsible for geotechnical exploration and landslide prevention and control.