Wong Chuk Hang Station 3 estimated next fiscal year 20 billion
MTR next (00066) next fiscal year (18-19 years) will be launched in response to market conditions, emphasizing “will not rush rotten city”, plans to push Wong Chuk Hang Station 3, involving more than 1,000 houses and 450,000 square feet shopping malls , Valuation of 20 billion yuan.
The MTR project has always been the major source of land supply. However, it slowed down last year. It originally planned to launch six projects to replace only one project at Phase 2 of Wong Chuk Hang Station. Tang Chi Fai, MTR Director of Property, explained that due to the more market supply, developers are trying to replenish land prices for large-scale projects. They emphasize that land supply will not “catch a rotten market” and will not blindly push to consider the market Digested.
Performance conference announced plans to push
For the next fiscal year push plan, Deng Zhihui said later in the performance conference will release a detailed push plan, is currently not convenient to disclose, but stressed will consider the market conditions, in response to shareholders’ rights and interests to go.
According to the information, there are currently a number of mature and qualified MTRC handlers available, including the first phase of Wong Chuk Hang Station to be launched last year, the first phase of Phase II of Hong Kong Tropicana, Tseung Kwan O, Phase 12, Ho Man Tin Station Phase 2 and Yau Tong Ventilation Complex, Phase 1 and Phase 2 of Wong Chuk Hang Station were launched one after another in the past year with land prices as high as $ 10 billion.
Wong Chuk Hang Station 3 market valuation of more than 6 billion
According to Deng Chih-hui, the third phase of Wong Chuk Hang Station will be larger than the first and second phases. It will include a 450,000 square-foot mall while the upper section will have several residential properties involving more than 1,000 clubs.
At present, the project is still in the process of handling technical arrangements and has not yet decided on the terms of the tender. However, Deng stressed that the lack of large shopping centers in Wong Chuk Hang and Ap Lei Chau is quite attractive.
Roughly estimated, Phase 3 of Wong Chuk Hang Station will be launched in the form of residential and shopping malls with a valuation of over $ 20 billion. The estimated market value of the shopping malls alone will reach $ 6 billion to $ 7 billion. It is estimated that in the next financial year Launch, become the focus of push.
Zhang Qiaochu, Deputy Managing Director of Colliers International Asia, said that the development potential of Huang Zhukeng Station shopping malls, combined with the strong spending power of the tenants in the superstructure and the proximity of commercial areas, will help to assess the value of some shopping malls Billion to 59 billion yuan, the floor price of about 12,000 to 13,000 yuan.
As for MTR’s first wholly-owned development, the 2-storey mall at Tsing Yi City was officially opened yesterday with a total gross floor area of 130,000 square feet. It is mainly featured catering and has more than 50,000 square feet of rooftop and outdoor open space.
The MTR Chief Executive, Mr Leung Kwok-kuen, said that the mall in Tsing Yi City is connected to the Tsing Yi Station and the neighboring areas and is a comprehensive development model for the “railway plus property”.
With the completion of Tsing Yi Town Phase 2 last year and the expansion of 2 storeys in Telford Plaza in Kowloon Bay, the MTR rose by 5% in the number of shopping malls last year.
Mr Tang pointed out that with the opening of department stores at Lohas Park and Tai Wai Station to be opened in 2020 and 2022 respectively, with a total floor area of 500,000 and 650,000 square feet respectively, the store floor space of the Group will be increased to nearly 5 million square feet .