Wong Chuk Hang Station Phase II next month, closing ten feet per foot floor premium 10,5 million Guiju Railway project

Residential property prices rose, land prices are also driven. The second phase of the property development project at Wong Chuk Hang Station (00066) located at Aberdeen (Wong Chuk Hang Station) was started bidding yesterday and was closed on December 1. According to sources, the land premium of about 5.21 billion yuan involved in the land, the land available for construction of about 493,000 square feet floor area, each square foot floor premium (hereinafter referred to as the floor premium) of about 10,576 yuan, compared with Adjacent to the first phase of the site in January of this year, the floor premium of 8,119 yuan, about 10 months soared into 30%, and a record high of the MTR project floor premium.

The second phase of Wong Chuk Hang Station, covering an area of ​​about 92,600 square feet, is adjacent to Nam Lang Shan Road, Aberdeen. It is located opposite Chen Baisha Memorial Secondary School of Xinhui Chamber of Commerce and received a total of 37 letters of intent on last Thursday, amounting to the second largest number of railway project letters of intent After a period of 4 days, MTRCL will launch the project bidding.

Land premium amount involved 5.2 billion

It is understood that the second phase with the adjacent phase of the first period, with land premium and dividend provisions, of which premium amount of about 5.21 billion yuan, equivalent to about 10,576 yuan floor premium, compared with the first phase of the floor premium of 8,119 The demand for dividends for the second phase of MTRR is set at 30%, down from 35% in the first phase. According to the Rating and Valuation Department’s statistics, the overall residential property price rose by about 10% from January this year to the latest September. This means that the price rise is even more urgent than the property prices.

Apart from the need to pay land premiums and dividends, the developers also have to submit a bid price to the MTRCL when entering the bidding. According to the information, the purchase price can be paid to MTR in phases in two phases. The market is estimated to be the key to winning the bid. In addition, the MTRCL has a series of development requirements on the site. The number of residential units is limited to 550 to 600, of which about 180 residential units should not exceed 538 square feet of usable area.

The site price for the second phase of Wong Chuk Hang Station is about $ 10,600, which is higher than the transaction price per square foot for individual secondary estates. For example, the Nan Tao House, which is about 22 years old, Which was about 10,300 yuan per sq ft. The second floor premium at Wong Chuk Hang Station was about 15.9% higher than the 9,125 yuan at the Austin Station Estate Development Project in Tsim Sha Tsui in 2010, making it the first per square foot Complement the land premium of 10,000 yuan of railway property development projects.

Emperor: do not rule out the Chinese bid

According to the statistics, the second phase of Wong Chuk Hang Station attracted Chinese and Hong Kong developers to submit letters of intent, including the Cheung Kong (01113), Hengdi (00012), Shindi (00016), New World Development (00017) (01098), as well as Chinese-funded conglomerates such as Lonchuang Real Estate (03380) and HNA Group Construction Hong Kong (00687), which have been actively involved in recent years.

Zhang Bingqiang, executive director of Emperor International (00163), said that the group is interested in the second phase of Wong Chuk Hang Station and will study into the bid. It also does not rule out the bid to bid on the mainland consortium. Wu Chongwu, director of the real estate department of Chinachem Group, also said that it will study the second phase of the development project of entering Wong Chuk Hang Station.

Puning Jin, director of corporate development (valuation and property management) Zhang Shengdian pointed out that the MTR cut the second dividend ratio requirements are expected to attract developers to enter the tender to avoid the risk of the bids.

Lam Hau-wen, Knight Frank’s senior director and head of valuation and consulting department, said that the amount of land premium for the second phase was higher than that of the first phase, reflecting the location of the land and the market conditions in recent months. I believe the Chinese-funded developers will actively participate in the project. However, , I believe some developers will group consortia into the tender, is expected to eventually have more than 10 consortia into the tender.