Hing Wah Street West Hotel to estimate the budget of 3.7 billion
The Lands Department has launched a number of non-residential land tenders this year. The latest is the hotel land in Cheung Sha Wan, which will be closed on Friday (27th). The industry estimates that the site will attract local developers to compete for a valuation of about $ 2.17 billion to $ 3.74 billion.
Expected from the Hong Kong consortium competition
Will be held on Friday cut off the Cheung Sha Wan hotel, located in Hing Wah Street West out, near the Cheung Sha Wan non-staple food wholesale market, can build a floor area of about 374,300 square feet.
The surveyor estimates that the valuation of the site is estimated to be about $ 2.17 billion to $ 3.74 billion. It is estimated that about $ 5,800 to $ 10,000 per square foot floor price (below the floor price). Gao Qiang International Asia Valuation and Consulting Deputy Managing Director Zhang Qiao Chu on the valuation of the land is more conservative, the floor price of 5800 yuan. He believes that the area is not a major business district, it is estimated that the site can be built to provide 700 to 800 rooms of the four-star hotel, to attract local developers and small and medium-sized hotel group competition.
Zhang Jingda, executive director of Zhongyuan Survey Office, said that the land to enjoy the sea and adjacent to the Nanchang Railway Station, expected to attract large consortium competition, strong development for the five-star hotel, but because of the long payback period and tourism market outlook is still haze, Competition is not much hope.