4 industrial buildings in Sai Kung Shen rebuild residential schools
In recent years, there have been a number of new disk launches in Sai Kung to promote the transformation of the industrial zones in the area. At present, four industrial buildings in the area are gradually being applied for by investors and owners, converted or rebuilt into residential and private schools covering 250,000 square feet of floor space.
Located in the industrial area along Kangding Road, south-west of downtown Saigon, the compound consists of 5 industrial buildings with a total gross floor area of 450,000 square feet, mostly for warehouses and factories. The floor area for office use is less than 5% The ownership of industrial buildings in the district is more concentrated, most of which belong to a single title and are held by Beihai Group and senior investor Deng Chengbo respectively.
Benefited from the launch of new properties in recent years, including the adjacent Plaza Essence, 9 Kang Village Road, which is developed by Sycamore (00083), consists of 3 houses providing about 285 units and the site adjacent to Hong Kin Road is also for sale Development, will build about 30 sea view bungalows and stratification units, with the completion of more residential areas, and promote the gradual transformation of the industrial zone for residential and other developments.
Si Zhou Group Building modified private schools
Deng Chengbo, a veteran investor, purchased the Four Continents Building, No. 1 Kangding Road, and the Affordable Building, No. 6 Kangding Road, this year. The former applied for the conversion of the entire building into a private school.
Currently, Four Continents Group is a 4-storey high-rise industrial building covering an area of 31,000 square feet and a total gross floor area of about 100,000 square feet. It is estimated that there will be a total of 30 classrooms to provide 1,350 classes including underground parking Purpose, while the first floor to the third floor is for the classroom, rooftop is for sports playground and garden. Deng estimates that the project will meet the demand for private school places in the region.
On the other hand, the Affordable Tower Building at 6 Kangding Road has already been rebuilt to build an 8-storey residential complex and 4 bungalows, covering a total area of 69,600 square feet, for a total of 94 units.
Zhonghua Lacquer Factory plans to rebuild 178 houses
As for the Beihai Group, which holds two Chinese lacquer warehouses at 7 and 9 Ting Tin Road, it plans to redevelop two 8-storey residential blocks at a plot ratio of 2.36 times with a total gross floor area of about 80,000 square feet and will provide 178 units, including over 8 as open units, each with an average area of over 400 square feet and a small amount of retail and commercial floor space.
Beihai Group initially intended to use the building as a hotel development, providing 294 rooms, but later see the residential development in the area is gradually forming, it turned to apply for private residential development.
The market anticipates that with the completion of the above development plans, the industrial uses in the area will be replaced by residential and educational uses, washing away the image of former industrial zones.