Xinhe Group Financial Group won the sunrise of Cannes 11
The MTR Sunrise Kangcheng Phase 11 was closed recently. The results were announced yesterday. The consortium, which was jointly organized by Xinhe, Jiahua and China Merchants, successfully won the right to development and pressed the remaining 10 funded consortiums. In the past, Xinhe and Jiahua had experience in developing Tseung Kwan O residences, but the second was the development of the Sunrise Kangcheng project.
It is reported that the amount of land premium for the project is 3,054.9 million yuan, and the premium for each party is 3,194 yuan. It is the most expensive one in the development projects of Sunrise Kangcheng. In addition, it is understood that the terms of the tender, in addition to the premium and fixed dividend ratio of about 20%, and must be determined by the “price” of the highest price, can be divided into two payments. The project covers an area of approximately 127,000 square feet with a plot ratio of approximately 7.5 times. The upper limit of the residential floor area is 956,400 square meters. It provides no more than 1,850 residential units and is a pure residential project. The entire development project is expected to be completed in 2025.
Received 11 bids to tie the record
As for the closing of the Kangcheng City Phase 11 in the past, a total of 11 tenders were received to capture the record of the intercepted tenders in the calendar year. The consortium is still based on large local consortiums, including Cheung Kong, Chinachem, SHK, Wheelock, Henderson, Kerry, China Overseas, etc. At the same time, many new faces have joined the bidding to participate in local development. The consortium of the Shanghe Group is the mainstay, including the New World partner to China Resources Land and the Far East to cooperate with Poly Real Estate.
The Group’s executive director and the Director of Valuation and Counseling, Mr Lam Wing-man, said that the successful bidders had a good experience in residential development and believed that the “bid” was also at a reasonable level. In the long-term, the supply of projects along the MTR station is limited and has certain advantages. It is believed that the developer’s confidence in the market outlook is still large. It is estimated that the price of each side of the residential building will be 17,000.