6/3/2018-5

City Council Sham Shui Po Project Recruitment Estimate 2 Billion

The government announced plans for land sales in the new fiscal year last week. The URA quickly launched a project to recruit Tung Chau Street and Guilin Street in Sham Shui Po. It can build 144,000 square feet of commercial and residential floor space. Some of these floors must be reserved as fashion bases. The valuation is up to 2 billion yuan.

For 210 involving 46,000 commercial floors

The URA plans to launch four sites in the 2018/19 financial year. The redevelopment project of Tongzhou Street and Guilin Street in Sham Shui Po will start from today. The site will be located in the northeast of Nanchang Village, adjacent to Tongzhou Street Park and will be the second round of the URA. One of the “demand-led" projects, with a site area of ​​approximately 16,000 square feet and a total gross floor area of ​​144,000 square feet, with residential buildings covering approximately 98,000 square feet, estimated to provide approximately 210 units and provide approximately 46,500 additional units. Squared commercial building, on the 20th of this month (Tuesday) to intercept interest.

In line with the earlier proposal of the Commerce and Economic Development Bureau, some of the project’s commercial floors will need to be developed into Sham Shui Po design and fashion bases in the future, with a view to promoting the district’s focus as a fashion designer in Hong Kong and nurturing talents.

Must build a fashion base with smart facilities

The URA also requires that the project must achieve sustainable development and provide smart system facilities, including household waste management, health care, building information models and building management systems.

The project is located between Sham Shui Po and the Nanchang MTR station and is about 10 to 15 minutes walk. It is expected that the project units will mainly look to the building and the tennis courts in the future. Some of them are expected to reach Tongzhou Street Park, but nearby A number of years ago, Haitan Street had been reconstructed and the funeral facilities were far away.

However, last year, the price of residential land in Cheung Sha Wan rose to 17500 yuan, driving the surrounding land prices. The valuation of the industry ranged from 1.73 billion to 2.02 billion yuan, and the floor price per square foot was between 12,000 and 14,000 yuan.

In the same district, Aokai Kai, a new cooperation project between Yuanzhan and the URA, was awarded the first batch of 20,000 yuan at the end of last year.