Ka Wah more than 10 billion Hong Kong during the suction 6 land

Hong Kong property market this year equally hot, Ka Wah International (00173) at the same time selling in both places, sales revenue so far this year more than 11 billion Hong Kong dollars. Since December last year, Ka Wah has spent more than HK $ 10 billion to absorb 6 lots of land in Hong Kong (not counting the newly-acquired Cheung Sha Wan Residential Land), which led to the Group’s acquisition of land and increased land storage this year Harvest results.

This year, selling cash surpassing 11 billion set

Ka Wah International Chief Financial Officer Lin Hsi-tao said the group has achieved good harvest this year in terms of both land acquisition and property sales. Since December last year, Ka Wah has actively absorbed 6 lots of land in Hong Kong and Mainland China, including re-winning residential land in the development zone of East Kai Tak in Kowloon last year with a total value of about $ 5,869 million. In May this year, Kam Shing Sing (00083) and China Overseas (00688) won the land on Kam Sheung Road, Yuen Long, the Group’s share of about 2.8 billion to 2.9 billion Hong Kong dollar. In the Mainland, because Jiahua is optimistic about the development of the Tai Wan District, it has wholly owned two land plots in Jiangmen City in late August and October this year for a total land premium of about RMB1.9 billion. Together with two projects in Nanjing, a total of six land plots involved funds Over 10 billion Hong Kong dollars.

Mrs Lam further said that in the past, the Group voted in the Mainland mainly in the areas of the Yangtze River Delta and the Pearl River Delta. In the future, the Group will continue to actively attract land storage, regardless of the potential of the first- or second-tier regions, as long as they have potential.

Mainland investment property 2 million square feet

In addition, the Group also aggressively expanded its investment portfolio in the mainland property market. According to Mr Lam, the total floor area of ​​investment properties in the Mainland at the end of last year was about 140,000 square meters (about 1.5 million square feet) and by the end of this year it will be 180,000 to 190,000 square meters 194 million to 205 million square feet). Diversified types of properties, including offices, commercial projects, serviced apartments and hotels.

In addition, the Group actively absorbed land storage, and its sales performance was also good. According to Lin Chih-ting, the main retail outlet in Hong Kong is Kowloon East Kai Tak  which has now surpassed $ 8 billion. In the Mainland, Cash over HK $ 11 billion.

Yang Jiahui, general manager of Ka Wah International Marketing and Sales, said that this year, the Group launched the first fully-owned development project in Nanjing, namely, Yuyashan, which offers 1167 units with a unit area of ​​86-141 square meters (926-1518 square feet) and has been launched since last year 568, sold 70%, the average price of about 28,500 yuan per square meter (RMB. The same below), the highest price of about 33,000 yuan per square meter; project next August to join, will depend on the market conditions plus push units Available for sale Also located in Nanjing, the joint venture project, Lanlan offers about 900 units, of which 375 have been approved for pre-sale and launched earlier this month with more than 100 units on the first day. More than half of the pre-sale units have been sold so far.

Future sales of the Group include Jiantaihui Pudong District in Shanghai (229 partners), Shanghai Jiayuan Residential Third Podium (106 partners) and Qingpu District Jia Tao Wan (256 partners) in total, involving a total of nearly 600 partners .