Kwun Tong Action Area for commercial area of 86 000 sq ft
The Government has launched the development of Kowloon East and has just announced the development of the Kwun Tong Action Area to provide a total of 4.2 hectares of land, such as Kwun Tong Pier Plaza and Pet Park, for commercial and cultural development. The commercial portion will provide 860,000 square feet of floor 7 billion yuan from.
Kwun Tong and Kowloon Bay are an important part of the commencement of Kowloon East’s planning. There are a total of 4.2 hectares of Kwun Tong Pier Plaza, Pet Park, Public Transport Interchange, cooked food market and Kwun Tong Driving School, which are adjacent to Kwun Tong Waterfront. Land will be redeveloped into the Kwun Tong Action Area.
Action area 4.2 hectares commercial to 13 million feet
A total of about 130,000 square feet of land will be used for commercial purposes as part of the bus terminus and Kwun Tong Pier Plaza. A platform will be added and a commercial and recreational facilities will be built on the cover, while the remaining Kwun Tong Pier Maintain existing use.
The Government will submit two development programs in respect of the Kwun Tong Action Area, which will be developed at 7.4 times the plot ratio. On the platform, three buildings will be built from 59 to 99 meters (above the main level, ), Providing 703,000 square feet of office space and 159,000 square feet of retail and dining floors, as well as providing about 20,000 square feet of creative cultural facilities, together with facilities such as public transport interchanges, Face about 968,000 square feet.
The Green Beach program will be connected to the existing waterfront promenade, as well as the future Tsui Ping River and Cha Kwo Ling coastal area.
As for another program called “interconnected space”, a larger platform will be built, while the commercial buildings on the cover will be reduced from 3 to 2, but the size of each building will be increased, each building Height of about 100 meters, the total floor of about 974,000 square feet, of which the office and retail and catering floor scale and the green waterfront program the same, while the creative cultural facilities are reduced to about 11,000 square feet.
Cultural creativity floor or influence rent
“The Kwun Tong Action Area is adjacent to the waterfront, but the site is in front of Kwun Tong, and the sea view will be affected as the commercial building of Kai Tak Terminal is completed,” said Lin Haowen, Senior Director and Valuation and Counseling Officer of Laiwu.
At the same time, the project should have a cultural and creative floor, which is also affected by the rent value. It is estimated that the market value of the land is about $ 6.45 billion to $ 7.31 billion and the floor price will be about $ 7,500 to $ 8,500.
Mr Lam said that it would depend on whether the conditions would be added to the sale and sale of land and that there would be a 1 to 2% impact on the valuation of the land.
The project is located at a distance from the MTR station. It is expected that the commercial land price of the Kai Tak Area 1F will be estimated at about 6.88 billion yuan and the land price will be about $ 8,000.