Hengdi Ma Shipu project premium over 2.5 billion
The government will push forward the new development zone in the northeast New Territories at full speed. There will be more land to be completed in the New Territories. Henderson Land (00012), a site with a site area of about 174,200 sq ft in North Ma Shui Po, Fanling, completed close to HK $ 2,532 million in land premium in December last year. Land premium per square foot (hereafter referred to as the premium per sq ft) About 4151 yuan. Based on this calculation, Hengdi has completed the land premium for two sites within the NE New Territories New Territories. The total land premium is about $ 3,767 million and the gross floor area is about 948,800 square feet.
The land of Ma Shi Pau, which has been completed on a flat-rate basis, is located in the southeast of Fan Xinci North New Development Zone. It is only separated from Ma Shiu Road and other housing estates by Ma Shia Road and is the first to be accepted by Lands Department for further site- One of the two New Territories land plots to apply for.
It is understood that the amount of land premium reached between Hengda and the Lands Department is close to 2.532 billion yuan. Land available floor area of about 609,800 square feet, land premium of about 4151 yuan per square foot. Data show that Hong Kong Ferry under Hengde (00050) auctioned in May 2010 auction has been completed private housing estate Yat-feng residential land, floor price per square foot at that time about 2,414 yuan, a rough calculation, Land prices rose about 72% in more than seven and a half years.
Fees up to 17,000 for sale
The Buildings Department approved the building plans twice for the aforementioned Ma Shipu site and the first block of the building plan was approved in 2016 to construct five sub-residential buildings above the ground floor, of which three are 16 storeys high, Another two 21-storey building. The plan was subsequently amended by Heng Land and later with the approval of the Buildings Department in February 2017 for amending the scheme, including the reduction of one block and the construction of four blocks above the ground floor of one storey, one of which is 16 stories high and the remaining 3 Block is 21 layers high.
Private housing estates near Ma Shipu are located at Yau Fok Estate, about 4 years old and about 20 years old, at Yu Yau Hin. In recent months, the transaction price has been about $ 10,000 to $ 13,400 per sq ft. Lam Hau-wen, Knight Frank’s senior director and head of valuation and consulting, believes that the premium for Ma Shipu’s land is at a reasonable level. It is estimated that the sale price of residential units in the future will be close to $ 17,000.
Information shows that another piece of land belonging to the first batch of sites in the New Territories to be rezoned to the north of the New Territories is located at Corridor Boulevard, Kwu Tung, Sheung Shui. The gross floor area available for construction is about 339,000 square feet. The price of $ 1.235 billion at a premium of about $ 3643 per sq ft means that the premium per square foot of the Northern part of Fanling is about 13.9% higher than that of Kwu Tung.
As of the end of June last year, there were 44.9 million square feet of agricultural land in Hengda. In addition to the two aforementioned projects, three other on-site applications for land exchange within the territory of Northeast New Territories have been approved by the government for further processing. Five projects A total of about 3.64 million square feet of residential floor space and about 440,000 square feet of shopping malls will be built.