Cheung solid price of 430 million flood bridge built 300 groups

(01113) Earlier, the Hong Kong Bridge in Yuen Long completed the land premium of $ 430 million, representing an area of ​​about 139,000 square feet. The floor price per square foot 3,112 yuan, material to provide about 300 guys.

The land is located at Hong Yuen Road and Hong Chi Road at the junction of Hong Fu Village, adjacent to Hongfu Village, according to the outline plan for the “residential (class B)” use, developers in 2005 will be the bulk of agricultural land to purchase, recently with the government reached a land exchange, land premium agreement.

Floor land premium 3112 yuan

Under the agreement, the developer will increase the total area of ​​about 79,100 square feet of land, together with $ 432 million to land premium, to the Government site for land exchange, land site will be expanded to 11 million square feet, planning as a private residential use, can be built Floor area of ​​about 139,000 square feet, to calculate the floor price per square foot of about 3,112 yuan.

Roughly estimated that the average project area is about 500 square feet per meter, the project is expected to provide 278 groups. The lease also stipulates that the project should be completed in 2022 and it is estimated that the uncompleted flats will be sold in one to two years.

As the project is located within the flood bridge development area, it is believed that the fastest possible benefit from the Government’s promotion of the flood bridge development area will also help to speed up the development of the area next to the Government’s planning as a “land for resettlement”.

Recently, many Hong Kong-owned developers have been actively speeding up the pace of land premium, including the new land (00016), which was the largest land premium for the past six years, with an estimated price of about 2,288 sq m Yuan, providing about 4,500 guys. It is expected that this trend will continue.