New record breaking land of 5 billion won hotel fares 13,500 Kowloon hotel premium 6 times 3 times

The market is looking forward to the closing of the fringe residential area in Cheung Sha Wan on 10 September. As Kowloon Dragon is approaching 10 billion, the Lands Department announced the land adjacent to the hotel yesterday. It was won by Shindi (0016) at 5.06 billion yuan, Gui pure hotel official. With a project-to-building floor area of ​​374,000 square feet, the floor price per square foot is as high as 13,500 yuan, an increase of 35% over the market’s highest valuation of $ 10,000. Surface price of nearly 3,500 yuan won the Hung Hom Hotel, more than 2.8 times.

Ming Daily reporter Lin for

The above-mentioned Linhai Hotel at Hing Wah Street, Cheung Sha Wan closed for the tender on last Friday and received a total of 10 bids. In addition to the new premises, the successful developers included Cheung Kong (1113), Heng Di (0012) 0083) and other large local developers. Xindi beat the remaining 9 consortia at a price of RMB5.06bn, equivalent to HK $ 13.5m land premium per square foot. Exceeding the market valuation ceiling of HK $ 3.74bn, that is, the floor price per square foot of HK $ 10,000 is over 30% higher , But only lower than the “West Kowloon 4 dragons", Lai Chi Kok Manhattan Hill and other areas within the real estate second hand real average 15,000 to 17,000 yuan about 10% to 20%.

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It can be noted that the hotel land prices in recent years also sell more expensive. According to the statistics, for the last official hotel of the most expensive hotel, Harbor View Enterprises (0051), a fellow seaport company (0051), and the Hong Kong Landmark Murray Building, Central, which was converted for hotel use for $ 4.4 billion in November 2013, involved about 325,000 square feet of floor space at an average price of $ 13,500. In the meantime, Kerry (0688) Tongliao Shangri-La (0069) won the auction of Hong Kong Hotel Harbor Hung Hom in 2005 with a consideration of $ 2,328 million in December 2011. At that time, the floor price per square foot was about $ 3,500, This means that the price per square foot of Kowloon Hotel is over 2.8 times more expensive in six years.

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