Xindi Changshi Tuen Mun Xiaoxiu Project pays 1.73 billion
The development of the Castle Peak Road in Tuen Mun has become more and more mature in recent years. Sun Hung Kai Properties (00016) and Cheung Kong (01113) have been preparing for the residential development of the Xiaoxiu Village in the 55th district of Tuen Mun in the past year. The land subsidy agreement was reached with the government at the end of 2018. 17.32 billion yuan, which is the largest case of land premium for private developers last year. The Lands Department also announced that the land premium for the fourth quarter of 2018 was about $16.8 billion, the quarterly new high for the land premium since the third quarter of 2006.
The above-mentioned Xiaoxiu Village site, adjacent to the recent price of Yongtai Real Estate (00369), The Carmel, Tuen Mun, is about 2.48 hectares. In 1998, it was approved by the Town Planning Board for the development of a tiered residential development. The new scheme, which is currently approved for development, has a floor area of about 347.031 million square meters and is expected to provide 573 residential units.
4990 yuan per floor
According to the Lands Department’s data, the project completed the land premium of 173.175 million yuan in December 2018. The total floor area of the site is estimated. The land premium for each floor (hereinafter referred to as the floor premium) is about 4,990 yuan.
In the fourth quarter of last year, the site was also rezoned for a site in Kwu Tung South, Sheung Shui. The site is located at Kam Keng Road. It is adjacent to the development of the new estate project Tin Chung and the New Territories La Sha Secondary School. It covers an area of about 3.756 hectares and has a land premium of about $5.3501 billion. .
The site can be constructed with 90 3-storey high-rise houses with a total floor area of approximately 161,718 square feet and a floor premium of approximately 3,308 yuan. SHKP applied to the Town Planning Board last year to convert the site into a tiered residential development. The total floor area has increased to over 1.12 million square feet, providing 1,573 gangs, but it is still pending consideration by the Town Planning Board.
Xinzhi (00083) holds Yutian Peak, No. 115, Qinglong Road, Qingshan Road, Tsuen Wan, adjacent to the new Pan Yi Yi, which was released in the fourth quarter of last year. Longwan has also completed the land premium of RMB 65.91 million in recent months.
19 yuan in the last quarter of last year, the price of 16.8 billion
In addition, in the fourth quarter of 2018, the Lands Department sent a total of 5 land exchanges and 14 contract amendments to the Land Registry for registration. The total land premium amounted to $1,687.74 billion, which was only about $1,599 million compared with the third quarter of 2018. The increase was about 9.5 times, and it was the quarterly new high since the third quarter of 2006, the Lands Department announced the land premium price on a quarterly basis. In the fourth quarter of 2018, the amount of land premiums was broken. The main reason was that the MTR (00066) Aberdeen Wong Chuk Hang Station Property Development Project Phase 3 was completed during the period. The amount was about 12.971 billion yuan.
In the whole year, the amount of land premium in 2018 was about 26.147 billion yuan, a sharp drop of 34.6% compared with about 400.03 billion yuan in 2017, but it was still the third highest since 2007.