In the middle of last month, Kaihua (00173) and other financial consortiums bought the residential land of No. 2 commercial district of Kai Tak at a low price. 9,000 yuan, showing that large developers are more cautious about the prospects of Hong Kong’s property market
Site No. 2 in Area 4A is the last commercial and residential site on the front runway of Kai Tak, facing Victoria Harbour. However, when the tender was closed last month, the government received only 4 tenders, but the bidders were all large and powerful developers in Hong Kong. Changshi (01113) and Xindi (00016) Sole proprietorship bidding, Xinzhi (00083) Huo Yingjun (00041) and Huazhi (00127), and Jiahua Huojicang (00004), Hengdi (00012) and China Overseas 00688) Consortiums competed for it. Finally, Ka Wah and other consortiums won for nearly 15.95 billion yuan, and the floor price per square foot was only about 132,000 yuan, which is not only lower than the market’s expected lower limit of 18 billion yuan, but also more than the same runway Victoria Harbour View. Residential area No. 2 in Area 4C, the price dropped by more than 30%. No. 2 in Area 4C was purchased by Wheelock Properties together with another developer No. 5, and the floor price per square foot was nearly 20,000 yuan.
The Lands Department announced the bids of the remaining 3 bidding consortiums in Area 2A, Area 2 yesterday, of which 2 were only 10.118 billion yuan and 10.1 billion yuan, and the land price per square foot was only about 8396 yuan and 8381 yuan
The price of a bid that was closer was about 15.117 billion yuan, and the floor price per square foot was about 125,000 yuan. It can be seen that the consortium that failed to win the bid this time is not optimistic about the market outlook. Take the new land as an example. At the beginning of this year, with a floor price of more than 173,000 yuan per square foot, it won the site No. 3 in Area 4C, which also enjoys the Victoria Harbour view. However, this time the bid is significantly different from the beginning of the year.
Kai Tak bidding for commercial and residential land as low as less than 9,000 yuan per square foot
In the middle of last month, Kaihua (00173) and other financial consortiums bought the residential land of No. 2 commercial district of Kai Tak at a low price. 9,000 yuan, showing that large developers are more cautious about the prospects of Hong Kong’s property market.
Site No. 2 in Area 4A is the last commercial and residential site on the front runway of Kai Tak, facing Victoria Harbour. However, when the tender was closed last month, the government received only 4 tenders, but the bidders were all large and powerful developers in Hong Kong. Changshi (01113) and Xindi (00016) Sole proprietorship bidding, Xinzhi (00083) Huo Yingjun (00041) and Huazhi (00127), and Jiahua Huojicang (00004), Hengdi (00012) and China Overseas 00688) Consortiums competed for it. Finally, Ka Wah and other consortiums won for nearly 15.95 billion yuan, and the floor price per square foot was only about 132,000 yuan, which is not only lower than the market’s expected lower limit of 18 billion yuan, but also more than the same runway Victoria Harbour View. Residential area No. 2 in Area 4C, the price dropped by more than 30%. No. 2 in Area 4C was purchased by Wheelock Properties together with another developer No. 5, and the floor price per square foot was nearly 20,000 yuan.
The Lands Department announced the bids of the remaining 3 bidding consortiums in Area 2A, Area 2 yesterday, of which 2 were only 10.118 billion yuan and 10.1 billion yuan, and the land price per square foot was only about 8396 yuan and 8381 yuan. The price of a bid that was closer was about 15.117 billion yuan, and the floor price per square foot was about 125,000 yuan. It can be seen that the consortium that failed to win the bid this time is not optimistic about the market outlook. Take the new land as an example. At the beginning of this year, with a floor price of more than 173,000 yuan per square foot, it won the site No. 3 in Area 4C, which also enjoys the Victoria Harbour view. However, this time the bid is significantly different from the beginning of the year.