The market outlook is difficult, the traditional big consortium is cautious
Huaying’s “explosive" won the second phase of Ho Man Tin Station. In addition to the Group’s active replenishment of land reserves in recent years, the bid is higher than the high-ranking financial institutions such as Gao Yin in the region. It also reflects that the overall developer is more cautious about the market outlook.
The second phase of Ho Man Tin Station is a large-scale project with a total investment of over 10 billion yuan. The amount of land premium has reached 7.49 billion yuan. It is generally believed that large-scale developers with strong financial resources have higher odds, but they are finally won by Hua Tuo.
Huaying actively sells the building
This time, Huaying won the factors, including the Group’s active sales in recent years, and the sale of Tsuen Wan West. The city’s sales and sales were ideal, and it successfully sold 9 billion yuan for the group as a capital for future investment.
The land reserves purchased by the Group from 2012 to 2013 are being sold, including the Tsuen Wan West Station City (Full City Concourse) and the Tseung Kwan O 68B1 Area (Haicang Hui), which has been put on sale, and the Long Ping Station South Project (Langcheng) The Exchange will also be on sale, reflecting the need for developers to supplement their land reserves.
It is worth mentioning that many of the eight consortiums that have entered the bidding have had development experience in the region, including Tianzhu, which was developed by Xindi (00016). Huide Real Estate and Kerry (00683) have developed ONE HOMANTIN respectively. In the past, Cheung Kong (01113) also developed projects such as the Mid-Levels. The developers of the above-mentioned bids are quite familiar with the market conditions in the region, but the bids of the major consortiums are still not as good as those of Huaying. Or reflect the recent trend of the property market, traditional large-scale developers are not optimistic about the market outlook, not eager to invest in the land, so the bid is more cautious.