The Birth of a Land King The Land + Business Project

There are two major factors in the development of commercial and residential areas in Kai Tak. One is that the land is a landmark project in the area, and the scale is one of the largest residential areas in Kai Tak, followed by the newly-acquired Xindi (00016) building a comprehensive commercial and residential project. Therefore, the bid is more aggressive.

The recent wave of Chinese land grabs has retreated. The last time the tender was cut in Kai Tak last year was also a Hong Kong-funded consortium. Only China Overseas (00688), a Chinese-invested developer, was involved. The market once worried that the price response was not satisfactory.

Good at comprehensive projects

However, the final record of land sales is high, reflecting two major factors. On the one hand, the land itself is in excellent condition. It is located in the core of Kai Tak City, adjacent to the Sha Tak Line Kai Tak Station, and the building ceiling is up to 150 meters (above the main level benchmark, The same as below), which is only 100 to 110 meters higher than the previously awarded residential areas in Kai Tak, will definitely become the most prominent residential landmark project in the area, which will help developers to create their own brands.

In fact, the Kai Tak District will be transformed into a Kowloon Kowloon Station luxury residential area in the Eastern Kowloon region. This will allow the 1F District commercial and residential areas to become the Kai Tak version of the Arc de Triomphe, becoming one of the most advanced commercial and residential projects in the region.

Secondly, in addition to the more than one million square feet of residential buildings, there were more than 300,000 sq. ft. of shopping malls in the Kai Tak commercial and residential areas approved. The successful bid for the new land has been good at creating comprehensive commercial and residential development projects, including the neighboring Kai. De Xin Pugang reputation. Hong Kong Bay, as well as the North Point Begonia developed in recent years, are all of the same model. Therefore, they are also more confident to bid for the project at a high price.

For example, a surveyor estimates that the commercial floor for retail use in the Kai Tak area is expected to have a floor price of 23,000 to 28,000 yuan, and the market value has reached 7 billion to 8 billion yuan, which is expected to push up the entire project floor. Land prices range from about 5% to 10%.