Changshi oil pond project Shen Jian 903 increased by 70%
The market expects that new private residential supply may gradually decrease in the next few years, and developers will increase the supply of private housing through different methods. Cheung Kong (01113) has recently applied to the Town Planning Board to develop two sites at Yau Tong Street, Yau Tong, with a plot ratio of 5x. It is estimated that a total of 903 flats will be provided. 536 residential flats can be built in accordance with the scheme approved by the Town Planning Board in 2016. An increase of 367 (about 68.5%).
The above-mentioned land belongs to No. 5 and No. 8 of Dong Yuen Street together with the adjacent Government Land. It is currently zoned “Comprehensive Development Area (1)". The total site area is about 83.70 million square metres, of which the No. 8 Dong Yuen Street in Linhai covers the land area. 2.27 million square feet, currently a warehouse, belonging to site A; opposite No. 5 Dongyuan Street is site B, with a site area of about 61,000 square feet. The entire project was approved by the Town Planning Board in 2016 to build five 19- to 29-storey tiered houses with a total gross floor area of approximately 406,100 square feet, providing 536 units, equivalent to an average area of approximately 758 square feet per group.
The latest development plan of Cheung Kong proposes to increase the gross floor area of the site by about 3% to about 418,300 square feet. The number of buildings will be reduced by one to four. The number of flats will increase, but the area will be reduced accordingly. According to the plan, Site A will build a 26-story residential building with 230 residential buildings with an average area of approximately 493 square meters. Site B will have three 9- to 32-story residential buildings with 673 tiered houses with an average area of approximately 453 square meters. Hey.
Cheung pointed out that the new scheme will help provide housing supply that is urgently needed by the society and alleviate the shortage of housing in the urban area. The above-mentioned land is being applied for land exchange. After completing the relevant procedures, it can be rebuilt into a residential project immediately, and it will not cause adverse effects on the technical aspects of ventilation, traffic and vision.
“Saigon Landlord" Kang Jian Road plans to expand 19 bungalows
The Hu Mu Fung family, known as the “Sai Kung Landlord", recently applied to the Town Planning Board to relax the plot ratio of a site in Sai Kung Road, Sai Kung, which was reduced from 0.75 times to 0.756 times to build 19 three-storey flats. The total floor area is about 30,800 square meters.
For non-residential projects, China Merchants Property has applied to the Town Planning Board to redevelop the land at No. 18, Ning Ning Street, Kennedy Town, with a plot ratio of 4.14 times to build two commercial buildings of 14 and 21 storeys respectively, providing office and retail space. For hotels and other purposes, including 438 hotel rooms. As for the existing China Merchants Terminal, it has developed into a two-storey retail property with a total gross floor area of about 600,000 square feet.