Wong Chuk Hang Station Phase 3 Valuation of 36.1 Billion Floor Price of 24,000

As property prices continue to rise, large-scale development projects are sought after by developers. The third phase of the MTR Wong Chuk Hang Station property development project on the South Hong Kong Island Line (00066) of Aberdeen Railway in Aberdeen is also debuting today. On the 21st, the letter of intent for enrollment will begin on the next Wednesday (27th). The project provides about 1200 residential units and has a large shopping mall. The market has an aggressive view of the land price of the land and is calculated based on the market value of the land, with a value of 22.588 billion to 36.141 billion yuan.

Southern District, a rare shopping mall

The third phase of Wong Chuk Hang Station is located at the northwest corner of Wong Chuk Hang Station. It is close to the junction of Nam Long Shan Road and Heung Yeh Road. It is the closest phase to the Wong Chuk Hang Station. It is estimated that the total GFA will be about 1.5058884 million U.S.es. In October 2014, the MTR Railway Tai Wai Station Property Development Project, with a total GFA of approximately 289915 TWHs, was the largest MTR development project in the past four years.

According to statistics, the residential floor area of ​​Wong Chuk Hang Station Phase III is close to 1 million square feet. It is estimated that there will be 4 blocks of residential buildings to provide about 1,200 people; the base will be a large shopping mall, involving a floor area of ​​about 506,090,000 square feet. For the Southern District, there are fewer major shopping malls. Ms. Tang Chieh-hui, MTR’s property director, pointed out in February this year that due to the lack of large-scale shopping malls in the Southern District, it is believed that the shopping malls in the third phase of Wong Chuk Hang Station “have good conditions for good”.

The MTR spokesman said that from today onwards, interested developers and consortiums will be invited to submit letters of intent for development, ending on the next Wednesday. After receiving the Letter of Intent for Development, the MTR has selected and compiled a shortlist of bidders to invite developers and consortiums to enter the bid.

According to statistics, the MTR has granted the first two development sites last year and is expected to provide a total of approximately 1250 to 1400 units, of which the first phase was established in February last year by Ping An Insurance (02318), a subsidiary of China Ping An Insurance and Road King Capital (01098). In cooperation, they provided about 700 to 800 people. In the second period, they provided about 550 to 600 teams. Then, CS (00083) and Kerry Construction (00683) defeated 9 opponents in December last year.

According to the previous tendering process, when the MTR Corporation formally invites tenders, it will disclose the land premium level and the dividend terms of the project. Former projects involving shopping malls have also provided MTRCL with the right to retain shopping malls and other terms. According to the statistics, the land price per floor of the first phase of the project is about RMB 8119, and the second phase is about RMB 10576. It is expected that the land premium for the third phase of the project will be higher.

Railroad hot selling development competition

Due to the large scale of the project, the surveyor’s valuation of the land use will reach a level of more than RMB 20 billion. The market valuation will be approximately RMB 22.588 billion to RMB 36.141 billion. The price per floor (about the floor price) will be approximately 1.5. Million to 24,000 yuan.

Lai Fong Senior Director and Valuation and Advisory Department Director Lin Haowen is the most aggressive in the valuation of the site. It is estimated that the market value of the land will be approximately RMB 31.624 billion to RMB 36.141 billion, and the floor price will be approximately RMB 21,000 to RMB 24,000. He pointed out that the limited supply of large-scale residential projects at railway stations, together with the hot new railway sales, has strengthened the confidence of developers. It is estimated that more than 20 developers will submit letters of intent. However, due to the large scale of the project, it is expected that the final entry will be strong. Large-scale developers dominate.