Kowloon Tong mansion consortium consortium bidding

Lung Cheung Road, Kowloon Tong, which is expected to become the first of 10 billion “kings of the earth” this year, will be closed to tender with a total floor area of ​​436,000 square feet and a valuation of between 9.6 billion and 16.6 billion yuan. It will challenge Kowloon Housing prices to new heights, expected to attract consortium bidding.

The highest valuation of 16.16 billion cut-off today

The site is situated on the residential land at the junction of Lung Cheung Road and Lion Rock Tunnel Road with a site area of ​​about 121,200 square feet and a maximum gross floor area of ​​about 436,000 square feet with an estimated buildability of about 680. As the land is in a high lying position, it is estimated that the completed units in the future will be able to enjoy the landscape of Kowloon.

The integrated industry valued the site at between $ 9.6 billion and $ 16.6 billion. The floor value per square foot is estimated to be around $ 22,000 to $ 38,000, which will challenge the highest price per sq ft of residential land in Kowloon.

The site is the third site of Lung Cheung Road for residential use in the past three years. The remaining two sites were approved in February 2015 and October 2016 respectively. Kerry Capital Construction (00683) Won Industry data, Kerry will be the target of the land.

In addition, Punjung Group Corporate Development Director (Valuation and Property Management) Zhang Shengdian refers to the site is located in the traditional luxury area, suitable for building low-density medium-density residential and bungalows, open landscape, estimated to large local bidders More positive, due to the expected development costs of more than 10 billion yuan, I believe some convergence group consortium into the bid to share the risk.