Hongan real estate group Xuhui Group 3 billion oil pond to build commercial and residential projects

Hong Kong Real Estate (1243) announced a partnership agreement with Xuhui Group (0884), one of the top 20 mainland real estate companies, to set up joint ventures to jointly develop the commercial and residential projects in Kowloon East Yau Tong to further enhance the Group’s property development business. Hongan Real Estate and Xuhui Group each account for 50% interest in the project. Newspaper reporter comprehensive report

According to statistics, the project is located at 13 and 15 Shisan Street, Yau Tong, Kowloon, adjacent to Kwun Tong Line and Tseung Kwan O Line. The project land area of ​​about 40,000 square feet, can be built area of ​​about 272,000 square feet. The total investment amount of about 30 billion yuan, of which Xu Hui Group to about 664.5 million yuan, Hong Hong property to the acquisition of the project 50% interest.

Hong An real estate chief executive officer Huang Yaoxiong said that this cooperation with the Xuhui Group, the joint development of Yau Tong project, I am very honored. Xu Hui Group is the mainland outstanding real estate enterprises, ranked the first 20, mainly in the first line and high quality second and third tier cities, engaged in real estate development and investment. I believe that this partnership will enrich the expertise and experience of developers in Hong Kong and China, expand the strength and advantages of partners, share resources, further develop the local real estate market and consolidate the Group’s future revenue.

Commercial and commercial projects completed in 2020

The project is expected to build two high-rise residential buildings and shopping malls at the base, mainly to provide two-bedroom and three-bedroom units. At present, the group is preparing the project foundation works, the overall construction period of about 3 years, is expected to be completed in 2020.

In addition, the “King of Toys” Cai Zhiming held the Kowloon City Plaza, the newly implemented to 5 billion yuan, the form of transfer of the company easy to master, and become the largest in this year, the largest resourced shop transactions, Cai Zhiming in 2008 to 1.48 billion yuan to buy the Shopping malls, the current book expected to earn more than 3.5 billion.

Shopping malls monthly income of twenty thousand

However, buyers are mysterious, different opinions. According to market sources, the buyer for the supermarket business operators, there are also buyers Wang Jianlin’s Wanda Group, also refers to the buyer for the low-key mainland businessmen, at this stage do not want to exposure.

Cai Zhiming confirmed that the mall to 5 billion yuan to sell, and has received a temporary deposit of 250 million yuan, will receive 250 million yuan, a total of 500 million yuan, for the transaction price of 10%, as the date of the transaction to be negotiated. He revealed that over the past period, more than one prospective buyer to negotiate the mall. According to statistics, Kowloon City Plaza covers an area of ​​63,700 square feet, eight-storey building, the total floor of about 64 million square feet, the current average price of about 7,800 yuan, the mall has about 150 shops and 400 parking spaces, Income of about 12 million yuan, the new home buyers reported nearly three percent.