Kwun Tong Heng On Street Project Received 38 Letter of Intent

Kwun Tong Heng On Street Project Received 38 Letter of Intent

The Kwun Tong District is gradually renewed. The developers are optimistic about the development potential of the district. The URA’s redevelopment project in Kwun Tong Estate, Kwun Tong, was closed yesterday. The response was overwhelming. It received 38 letters of intent and recorded the third most in the calendar. It attracted the participation of the China-Hong Kong consortium. Country Garden (02007), Ocean (03377) and so on.

The China-Hong Kong consortium favors a valuation of 700 million

The Government has promoted the redevelopment of Kwun Tong District. The URA launched the demand-oriented project in Kwun Tong Estate in Kwun Tong last month. It intercepted 38 letters of intent yesterday. It was the second highest in the Kowloon City project and the third highest in the past. The project attracted a number of Chinese and Hong Kong consortiums to submit their intentions to obtain the “admission ticket” for the project.

The letter (00083) that has already won the urban construction project in the district indicates that the letter of intent has been submitted. Other consortiums that have submitted intentions include Changshi (01113), Xindi (00016), New World (00017), Nanfeng, Huaying, and Yuanzhan. (00035) and so on.

Lin Yihua, the administrative manager of the property, said that although the site area is small, it is close to the Ngau Tau Kok MTR Station. The environment in the district has gradually changed, which is conducive to the development of the future land. Mr. Zhang Siwei, Assistant Property Manager of Emperor International (00163), said that the Group has experience in cooperating with the URA. The area is being refurbished, the infrastructure is sufficient, and there is confidence in the prospects of the district. The urban properties also have certain resilience.

Chinese-funded consortiums such as Country Garden and Ocean Shipping Group are also interested in participating in the development of the project. Liu Yi, investment manager of Ocean Shipping Holdings, said that in the long run, the development of Kwun Tong District is expected. The district has demand for housing. The Group itself has built social welfare facilities such as elderly homes. Put resources and experience.

The project has a floor space of approximately 71,700 square feet. Apart from providing about 150 residential units, it also includes 7,976 square feet of non-residential floor, of which 5,382 square feet are required for “government, organisation or community” purposes. Some units will retain the use of the building for a building, with a comprehensive valuation of 570 million to 720 million yuan.