SHKP (00016) has been actively seeking development in Tin Shui Wai in the past few years
It has absorbed land at three low prices, including two government land and 1 MTR (00066) land. It is expected to provide at least a total of more than 5,000 units, which will gradually develop into 3 Supply market for two large development projects.
Over 1.96 billion won, floor price 1893
Among them, the Wetland Lot No.34 development project, which belongs to the site of District 115 of Tianshuiwei, provided a total of 1,727 units, which were developed in three phases. The first phase is Wetland Seasons Park, which was priced yesterday, involving 710 units.
The land for the development project was acquired in July 2014 for more than 1.96 billion yuan, and the floor price per square foot was only 1,893 yuan. It was the lowest in 13 years since the creation of the zone. If the first discounted square feet are calculated, the land price in that year is sufficiently high. 5 times.
As a matter of fact, in recent months, some new government land such as Kai Tak Jiafeng Hui, Jintian Beishanshuiying, Shatian Junling Hui, etc., offer prices ranging from 1.2 times to 3 times higher than the land price. If you compare land prices and property prices, The price of SHKP is higher than that of the new batches. However, Tsing Yi Ming Qiaohui’s earlier offer price was nearly 6.5 times higher than the previous batch, and this time SHKP Wetland Seasons Park is relatively low.
The data shows that the Wetland Lot No. 34 development project itself is a limited area and requires no less than 1,140 units. At present, developers are building 1,727 units, which is 587 units or 51.5% more than what was required at the time. The unit supply will be increased in disguise. The land is adjacent to the wetland. The park has stricter environmental assessment requirements and many development restrictions, so the construction cost will be higher than similar projects.
Cover of Light Rail Tianrong Station
In addition, Xindi also acquired the nearby site 112 area in 2014 with more than 2.22 billion yuan. The land price per square foot was about 1,822 yuan per square foot that year. The project is also adjacent to the wetland park and started earlier than the end of 2018. Construction of more than 1,900 units.
It is worth noting that SHKP also won the property development right of the twice-marked Light Rail Tianrong Station in early 2015. It will focus on small and medium-sized units, involving about 1,500 units, and was approved to pay a land price of about 1.52 billion yuan per square foot in that year The land price is only 1,546 yuan.