The MTR Wong Chuk Hang Station Phase 4 large-scale project will intercept the letter of intent today
The industry believes that given the recent political situation and the impact of external uncertainties, it is expected that the bidding of the consortium will become more prudent, and the market valuation will tend to be conservative. Together with the amount of land premium, the valuation is about 9.5 billion to 10.8 billion. The price is about 15,000 to 17,000.
Treasury bids tend to be cautious
The entire development project is located at the Wagonkeng Station Depot, adjacent to the MTR station, and the entire project is being developed in phases. The 4th Phase of the Property Development Project, which is located in the south-east of the development project, is surrounded by the Sheung Wan Road, Police School Road and Nam Lung Shan Road. It provides two residential buildings with no more than 800 flats. It is over 638,000 square meters and is expected to be completed in 2025.
The railway concept is one of the hot selling points of the new disk in recent years. In addition, the project is a rare railway station super-cap project in Hong Kong Island in recent years. Under the limited supply of urban projects, it has naturally become the focus of the market. It is expected to attract large developers to compete, or to form a consortium to attack. However, industry insiders pointed out that due to recent political events and vacant taxes, developers are expected to bid more prudently; the latest valuation of the integrated market means that the site is valued at between 9.5 billion and 10.8 billion, and the floor price is about 15,000 to 17,000. .
Valuation of 9.5 billion to 10.8 billion
Lin Haowen, executive director and chief of the valuation and consulting department at Knight Frank, said that due to unfavorable factors such as social movements, Sino-US trade wars and vacant taxes, the consortium’s bid will be affected, and the valuation of the place will be reduced by about 10%. It is estimated that there are more than 20 developers who have entered the letter of intent, and eventually about 10 developers will officially enter the bid. Due to the large scale of development, it is estimated that the participating consortiums will focus on large-scale developers with strong strengths. Some of the participating groups will participate in the group to share risks. Some Chinese companies will also enter the bids in joint ventures, just like district-owned projects and synergies. Developers will have greater interest.
Wong Chuk Hang Station has been developed in six phases. Up to now, three development projects have been approved. The first phase was awarded by Lu Jin and Ping Bao. The land premium of the project was 4.684 billion yuan, and each party was 8119 yuan. The second phase was won by Xinhe and Kerry. The land premium was 5.214 billion yuan, and each party was 10576 yuan. The third phase was won by Cheung Kong and the land premium was 12.971 billion.