Star real estate expansion into the housing market
(1560) plans to gradually increase the land storage, and continue to identify more than 10,000 square feet of commercial or reconstruction projects, temporarily to Ngau Tau Kok, Yuen Long and Kwai Chung, the future deployment to other areas, and even plans Gradually expand the rent collection and get involved in residential development. Chairman Chen Wenhui said the Group is small and in the growth period, together with the listing and recently announced the issuance of more than 200 million yuan to help business development, the company hopes to share with the shareholders in the future results.
Reconstruction project annual return material one to two into
Chen Wenhui said the company has always focused on reconstruction projects, such as the purchase of old buildings or investment reconstruction. He also liked the market in Yuen Long and fancy its population growth and development potential. He also noticed that Kwai Chung and Tsuen Wan began to launch large new flats. Taking into account the longer development and reconstruction projects, the annual rate of return on projects is expected to reach 10% to 20%, which will not be restricted by a certain region and will be involved in the development of residential demotion. Which they have purchased Ngau Tau Kok site area of about 12,000 square feet of commercial land, the future acquisition target will be the site area of at least 10,000 square feet for the start to plan the new disk.
In addition to controlling the cost, they have raised more than $ 200 million through the listing offer and the recently released “5 for 2” rights issue, together with the proceeds from sales, plus the bank and long-term borrowing, To support business development. Although the rented property is still in the growth period of the enterprise, the funds withdrawn slowly, but he said that in the future will gradually establish a collection of rent collection. As the local market demand in Hong Kong, clear rules and regulations, are attractive to global investors, so the market is still full of opportunities in Hong Kong, the temporary will not be out of overseas market development.