City Council Tai Kok Tsui redevelopment project Chevalier

WASHINGTON (Reuters) – Small and medium-sized developers (SMEs) have stepped in the URA project, which has been dominated by Chevalier International (00025), which is part of the group’s re-acquisition of the URA project in the past five years.

Market estimates, the project is completed after the practical price of more than 24,000 yuan.

Floor 6.2 million feet five years won twice

The project is located at 8 to 10 Fukuzawa Street and 7-9 to Lido Street, covering an area of ​​about 8,267 square feet. It is a long strip and is surrounded by old buildings and redevelopment projects. The building is about 62,000 square feet.

At the end of last month, 14 tenders were received at the end of last month. Most of them were mainly small and medium-sized developers and were eventually won by Chevalier International.

In recent years, there are also involved in the development of private residential projects, as early as 2012, the group took the group of Chen Shuguan’s Baosheng Group, which has been involved in the development of private residential projects in recent years. , Was cast into the Urban Construction Bureau of To Kwa Wan Zhejiang Street project, was the first time to win the URA project, after 5 years, this time for the second degree to win the municipal project.

The project completed more than 24,000 foot price

Gao Qiang International Asia valuation and advisory services Deputy Managing Director Zhang Qiao said that the project is not large, so small and medium-sized developers can bid more aggressive. He expects the pace of reconstruction with the region to speed up the project is expected to be completed after the practical price of more than 24,000 yuan.

As for the current adjacent by the Hengde (00012) development of the Louvre project Leo Square. Xiao shore, nearly six months to practical prices ranging from 22,000 to 26,700 yuan range; and adjacent to the Austrian city. West Coast second-hand price of about 18,000 to 24,000 yuan range.

In addition, according to the terms of the tender, the project can be built with a floor area of ​​62,000 square feet and can provide about 96 flats, but more than half of the usable area is required to be between 260 and 480 square feet.

If the sales revenue is more than $ 1.05 billion, or about $ 17,000, the developer will be required to provide dividends to the URA by 20% to 50%.