Hong Kong Wenhui News (reporter Li Zitian) The government re-launched bidding for industrial land about two years apart. The industrial land located at the junction of Songtou Road and Guidi Street in Fotan was closed yesterday afternoon. The Lands Department announced that it had received a total of 9 bids. As the largest industrial official land in the past 20 years, the market valuation ranges from 2.14 billion to 3.75 billion yuan. Some bidders include Cheung Kong, Xindi, Huamao, and Huazhi. And the consortium of Asia Standard International Group entered the bidding. Yijing said that various factors have been taken into account in the bidding, and it is expected that the negative factors in Hong Kong will disappear in 2-3 years.
Yijing Group consortium participates in the auction
Yang Baixuan, Director of Development and Planning Development of Yijing, said that the company and the trust, capital strategy, and Asia Standard International Consortium have invested in land, and believe that the development of the land is large, but the Fo Tan District has not launched land for many years, and plans to develop the land as Warehouses, studios, data centers, etc. He emphasized that the Group has not bought land for more than 2 years, and all bids for land bid to win the bid. It has been considered that various factors have been taken into account, and it is expected that the negative factors will dissipate when it is completed and launched after 2 to 3 years.
Yang Baixuan continued that the group's main development of industrial and commercial properties is that under the influence of the epidemic, the economic impact is greater than other political factors. At present, industrial and commercial shops are relatively quiet. It is expected that the stability will rebound from the bottom and the future property prices will stabilize.
Can be built 938,000 square feet
The industrial site is located at the junction of Songtou Road and Guidi Street. It is located at the northernmost end of the Fo Tan Industrial Zone, farther from the Fo Tan Subway Station. The land is trapezoidal, covers an area of 98,800 square feet, and can be built up to 938.5 thousand square feet. It is the largest industrial land in the past 20 years. It is allowed to be used as industry, warehouse, office directly supporting industrial operations, information technology and telecommunications. Industry, research and development center, media design and production, vehicle inspection/Repair center, recyclable material recovery center and many other uses.
Large parking lot affects pricing
Lin Zibin, a director of Midland Surveyors, said that the scale of the project's development is rare in recent years, and it is about 4 times more than the 200,000 square feet of floor space compared to the many industrial sites launched by the government from 2017 to 2018. He believes that the large scale of the project, the relatively high investment amount, and the need for developers to build a public parking lot with 305 spaces, and the parking lot can not be dismantled and other factors, all affect the bid response and price.
Lin Zibin estimates that, based on a floor price of about RMB 3,000 per square foot, the project's valuation is about RMB 2.816 billion. The market valuation ranges from 2.14 billion to 3.75 billion yuan, equivalent to about 2,300 to 4,000 HKD per square foot of land.
However, Lin Zibin said that there is not much supply of new industrial buildings in the Fo Tan area, and the terms of land leases have been more flexible in recent years, and new industrial buildings involving multiple uses can be built. About 4,000 to 5,000 HKD per square foot in terms of construction area.