Kerry Believe Wins Huangtzu Hang Station 2 Market Estimated total investment of more than 10 billion for sale at a price of up to 30,000
Wong Chuk Hang Station Phase 2 superstructure was won by Kerry (00683) partner Pai Xin (00083) and beat 9 Hong Kong consortia including China Resources (01109) etc. The market is expected to have a total investment of more than 10 billion yuan, The price of up to 30,000 yuan.
The Phase 2 project at Wong Chuk Hang Station, which was closed on Friday, was more prominent than Phase 1 of the project earlier this year. It successfully attracted ten developers to enter the tender, including the winning of the first phase of the project 01098). The MTRCL (00066) finally announced yesterday that the project was won by a joint venture between Kerry and Nixon.
Zhu Ye Pei: landscape open prices reasonable
Zhuye Pei, executive director of Kerry Development, said that the Group has had a lot of cooperation experience with the Bank since its establishment in the past. These projects include the project of half a dozen of the projects awarded for the project, The development is maturing, and the project has the concept of a railway. In the future, there will be a 500,000 square foot shopping mall.
For the project bidding premium, Zhu Ye Pei did not disclose, but stressed that is a reasonable price, but also refers to the project open landscape, from the MTR station is also close.
The market price of the project is about 3 billion to 4 billion yuan, with 5.21 billion yuan land premium, the total land price will reach 8 billion to 9 billion yuan, floor price per square foot of about 17,000 to 19,000 yuan, the land expected slightly higher In the first phase of the project. It is understood that the land premium amounting to about 5.21 billion yuan, per square foot floor premium of 10,576 yuan, 30% higher than the first phase.
With a project floor area of about 493,000 square feet, the estimated construction cost will be over 2 billion yuan and the total development cost will reach 10 billion yuan to 11 billion yuan. The actual sale price of the project will reach 28,000 to 31,000 yuan in the future. For example, Shenwan 9, a five-year-old residential property, has a usable floor price of about $ 30,000.
Local developers voted to become more active
As a matter of fact, local developers have recently become more active. Taking credit as an example, the past year alone has won URA’s Peel Street in Central and White Rock in Ma On Shan. It has also jointly invested with other developers in West Rail Kam On the Road Station Phase 1, Cheung Sha Wan Residential King, together with the current bid Wong Whakeng Station 2, involving a total investment of 50 billion yuan.
Recently, quite a number of local developers are making more aggressive offers than their Chinese counterparts, including Xinxiang. Five developers from Wheelock voted 17.3 billion yuan for the residential land at Cheung Sha Wan to become the most expensive residential land in Hong Kong.
Lam Hau-wen, Knight Frank’s senior director and head of valuation and consulting department, said it expects total project development costs in Phase 2 to exceed Rmb10bn, and that the Development Group consortium is good for sharing risks. The two developers were good at developing quality residential developments in the past, Cost, expected to be completed in the future the price of 30,000 yuan.