Jiaozhou Chau Reclamation commercial floor up to 80% in Central Huang Weilun: Building the third core business district is investing in non-big white elephants

The Government is proposing “Tomorrow’s Lantau”. The Secretary for Development, Mr Wong Wai-lun, said that the 1,000 hectares of the building can be built on 40 hectares of commercial floor, equivalent to 80% of the Central, creating a new core business district. According to industry estimates, together with about 40,000 private buildings, it is enough to offset the cost of reclamation.

Social worries worry that the cost of construction of the Lantau Island will reach a high price tomorrow. The community on the island is also a city of tragic because of the large proportion of public housing. In response to this newspaper interview, Wong Wai-lun responded: “It is not (sad city). In fact, the place on Hong Kong Island in Confucius Island will create a third core business district with 40 million square feet of commercial floor, which is almost equal to 80% of Central (Central) About 48 million square feet of commercial floor space), and Jiaozhouzhou will create 200,000 jobs, belonging to Grade A office buildings and high value-added positions.

Land sales revenue estimate of more than 800 billion can offset costs

The Government’s conceived artificial island in Jiaozhou Island will have roads and railways connected to the northern section of Hong Kong Island. It is closer to the city centre than Kwun Tong, which also builds Jiasha. Huang Weilun said: “It has a very good position, and it can’t be replaced by other companies including Tseung Kwan O. This core business district cannot be achieved.”

Does this mean that the land sales of a large number of commercial and private buildings on the artificial island may offset the cost of the project. Huang Weilun said: “The government will never estimate the land price income. The information provided is how many floor supplies there are. There is probably a number in your heart.” Emphasizing this is an investment, certainly not a big white elephant.

Regarding the cost of 1,000 hectares of artificial islands, Huang Weilun said that the only current estimate by the Government is that the cost of reclamation will be between $1,300 and $1,500, with a total value of about $130 billion to $150 billion. The use of ocean sand and sand is considered. With the construction waste reclamation in Hong Kong, 60 hectares of land can be reclaimed each year, which can reduce costs.

The newspaper has integrated a number of groups and calculated the land price of Kai Tak 70%. The commercial floor of the project is 43.06 million square feet. According to the land price of 9,000 yuan per square foot, the land price income is about 387.5 billion yuan; the lower limit of the housing supply is 150,000 people. According to the “7:3 ratio”, 30% of the private buildings are 40,000 people. The average area of ​​each group is 807 square feet. The total private building floor is about 36.32 million square feet. Calculated by the floor price of 12,500 yuan per square foot, the land sales revenue is about 454 billion yuan, that is, the total land price of commercial buildings is over 800 billion yuan (the government estimated the cost of reclamation cost about 400 billion to 500 billion yuan earlier).

4 issues such as housing traffic on Lantau tomorrow

However, Mr Wong stressed that selling land is not the heart of the Government. “If you are selling land, you can simply put a few more needles in the urban area (the building between the building and the building).” He said that tomorrow, Lantau can Address 4 levels, including 1) housing supply, 2) improving transportation network, 3) reorganizing population distribution, and 4) environmentally friendly cities.

As regards housing supply, according to the current planning, there will still be a shortage of 400,000 people in the future. Even after deducting the annual redevelopment and replenishment of private buildings by private developers, an additional 200,000 people will be required to supply the land and the number of land reclamation (about 150,000 people). ), the New Territories North Development Zone (80,000 people) is similar. “If these land needs are not resolved by reclamation, they will need to be inserted into the house. The situation is not satisfactory.”

The completion of the reclamation of the New Territories West to the urban area of ​​the New Territories West is linked to the operation of the West Rail. Huang Weilun said that if there is no land reclamation, it will not be done. For example, the Yancheng Railway, which was researched by the Housing Bureau, cannot be done due to insufficient population.

Apart from tomorrow’s Lantau, the new development areas under government planning are all located in the New Territories. Huang Weilun asked, the new population is placed in the New Territories. Is it the best choice? Reclamation in Jiaozhou is not the only option, but the best option is to accommodate the new population in the future.