Kerry letter wins Wong Chuk Hang Station 2 this year, the first seven billions of land Wang Chuan Lian premium of 20,000 per foot
MTR Corporation Limited (0066) Phase 2 of Wong Chuk Hang Station, the last project of the year, was won by Kerry (0683) Partners (0083). Market sources said that together with the land premium, the winning price of more than 10 billion yuan, becoming the seventh this year billions of king, equivalent to more than 20,000 yuan per square foot floor price, not only a more expensive than a 5% Also approaching Ap Lei Chau Ha Lin Wang King floor price per floor level. Some industry players said that the joint venture will help spread the risk. It is estimated that the sale of more than $ 30,000 per square foot will be completed after the project is completed.
Ming Pao reporter Gan Jieying
This year there are now tens of billions of kings of the land, which can be described as witnessing the era of property market. Together with the two stations at Wong Chuk Hang this year, a total of seven billions of kings of earth were born during the year, involving a total of more than 110 billion yuan.
Kerry letter each accounted for half of the rights
Zhu Ye, executive director of Kerry, said the project and the letter will hold half the rights and interests of the proposed two residential buildings, respectively, 25 and 30 storeys high, will provide about 600 units, but did not disclose the project price and investment, Only that the price is reasonable. He said optimistic about the prospects of Wong Chuk Hang, the area has a lot of industrial buildings turned into commercial buildings, and the other area in the future there are two hotels completed one after another, is expected to demand for housing in the area is expected to surge, and projects covered by rail superiority , Plus the future will set 500,000 square feet of shopping malls, so the development of the district will be seen a high line.
21.3 billion Kerry in the past 4 years to win three kings
Kerry has been actively investing in the past four years and has not won the bid for the project. It has won three landlords and involved a total of 1.6 million square feet with a total value of 21.3 billion yuan, including more than 11.68 billion yuan won in March 2013 Man Tin Fremont Street and Changsheng Street at the junction of residential (now Haoyuan), once completed Hong Kong High School official price record. In February 2015 and October 2016, the Company acquired the land of Lung Cheung Road and the west of Lung Cheung Road in Kowloon Tong. The land price per square foot of Lung Cheung Road West raised to $ 21,206, To the king.
This year, the MTR Corporation launched Phase 1 and Phase 2 projects in Wong Chuk Hang this year. Land prices continued to rise. Ping An Real Estate (1098) and Ping An Insurance (2318), a real estate development firm in Ping An, won the first phase of Wong Chuk Hang Station in late February this year. The price tag is about $ 6.5 billion. Together with the land premium of $ 4.684 billion, the total land premium will exceed $ 10 billion, equivalent to about $ 19,000 per floor. The second phase of land premium has exceeded 5.2 billion yuan and the land premium per square foot has reached 10,576 yuan. This is not only about 30% higher than that of the first phase of the project, but also a new premium for land premium per square foot of the MTR cover.
Surveyors expected to sell more than 30,000 per foot in the future
Zhang Shengdian, Director of Enterprise Development Department of Pujin Group (Valuation and Property Management), said that developers’ high bidding reflects the optimism of the market and that the joint venture bidding can diversify risk and complement each other, bringing the maximum investment to the entire investment Return, it is estimated that after the project will sell every real foot more than 30,000 yuan. Phase 2 of Wong Chuk Hang Station Stage 2 is a pure residential development with a site area of approximately 92,570 square feet and a gross floor area of approximately 493,000 square feet with no less than 550 but no more than 600 units expected to be completed by 2023. The project has three components of red, slightly lower than the 35% of the first phase, the successful developer is responsible for compensating the land price, but also bid for the bid, the highest bidder.