24/10/2018-2

Huaying voted for Ho Man Tin Station Phase 2

MTR (00066) announced yesterday that the second phase of the Ho Man Tin Station project was won by Hua Tuo, belonging to the two residential plots of the group during the year. The estimated investment in the market is over 14 billion yuan, and the actual price of selling buildings in the future will reach 33,000 yuan.

Under the shadow of the mansion of the Wenhui Road in the top of the mountain, the market once worried that the second phase of the Ho Man Tin Station project was followed by the same trend. However, yesterday, the land was defeated by Hua Tuo’s “cold" to win the first phase of the Gaoyin Group, as well as seven groups of consortiums such as Xindi (00016) and Wheelock Real Estate, which have rich development experience in the region.

Cai Hongxing: Building about 900 people, mainly 2 and 3 rooms

Huasheng recently actively invested in land. At the beginning of this year, it won a high price of 3.11 billion yuan to win the land of Anderson Road in Kwun Tong. This is the second time in the year, together with the market value of 11.5 billion to 12.8 billion yuan in Ho Man Tin Station Phase II. The project has a total investment of about 15 billion yuan.

Cai Hongxing, executive director and chief executive officer of Huaying Group, said that the project belongs to the group following the Xiwan. After Chenghui and Langping Station Langchenghui, the third railway project will be developed by Huaying in the form of sole proprietorship, but the total investment amount has not been disclosed.

Cai Hongxing continued, the project will provide about 900 groups, mainly for 2 and 3 bedroom units, and believe that the traffic location is ideal and will be welcomed by the market.

According to the terms of the tender, the developer is responsible for the land premium of $7.49 billion. The land price per square foot is about $11,700. It is also required to pay a dividend of 25% to the MTR. The developer has to bid for additional bids. The market estimates that the land value of the land premium is estimated to be between 11.5 billion and 12.8 billion yuan (about 18,000 to 20,000 yuan). In other words, the developer has a land price of about 4 billion to 5 billion yuan.

Assume that the construction cost per square foot of the project is about 4,000 yuan, taking into account the 10% factor of “water supply". The total investment of the project is about 14 billion to 15 billion yuan, and the investment amount per square foot is 22,000 to 24,000 yuan.

New price in the district is nearly 30,000 to 40,000 yuan

Some surveyors pointed out that the project has considerable advantages, and it is expected to be a mixed development of large and small units. The high-level units can add special household elements, and it is expected that the actual price will reach 33,000 yuan.

At present, the price of new flats in Ho Man Tin is generally close to $30,000. For example, it is adjacent to the new land of Ho Man Tin Station. The age of the building is about 2 years. The price of the tiered flats is about $29,000 to $32,000. The general price of the development of Li (00683) is about 25,208 to 44,337 yuan.

Lin Zibin, director of the United Surveyor, said that the land was successfully invested by the developer alone. It can be seen that the top-level flow label has not had much impact on the urban high-quality land and MTR projects.

The Ho Man Tin Station Phase 2 is part of the southwestern part of the Ho Man Tin Station Upper Cover Project. The landscape is ideal for Phase 1 projects. The floor area is about 639,000 square feet and can provide about 900 to 1,000 people.