2024-04-24 28Hse Editor
Hong Kong stocks fell sharply, and the property market continued to rise. Last week, there was a surprise in the final land price for the land in the 24th area of the ancient cave, which was struggling to collapse. The Lands Department announced yesterday that Wheelock won the bid with 4.185 billion yuan. Based on a buildable floor area of 492,400 square feet, the land price per square foot is 8,499 yuan, which is not only 6.2% higher than the market valuation limit, but also higher than April's new land. The land price of 7,184 yuan per square foot of floor area was purchased 18% higher than the land in the neighboring District 25, setting a new high in the Kwu Tung New Development Area and becoming a new index of land price in this area. reporter Yan Lunle
The 24th district of Kwu Tung attracted as many as 12 consortiums to enter the bids last week. There are no shortage of big sands, such as Cheung Kong, SHKP and Henderson Land. There are also fewer developers, such as Da Honghui, Kaisa and Hysan. Wait. The Lands Department revealed yesterday that the land was acquired by Wheelock for 4.185 billion yuan. The land price per square foot was 8,499 yuan, which was 6.2% higher than the market's expected ceiling of 8,000 yuan.
Huang Guangyao: 8 billion developing small and medium-sized units
Wong Kuan Yew, managing director of Wheelock Properties, responded yesterday that the group is optimistic about the potential of the Kwu Tung development area. In addition, the land is close to the Northern Ring Road, and the transportation facilities will be more convenient in the future, and its potential is seen as the top line. In addition, the group also participates in the project development of new development areas, such as Tseung Kwan O South, Tseung Kwan O Lohas Park, etc., with sufficient development experience in new areas. He revealed that the project mainly focuses on small and medium-sized units, with an investment ranging from 7 billion to 8 billion yuan.
It is worth noting that the land in the adjoining Kwu Tung District 25 was acquired by SHKP for 8.614 billion yuan in April, at a land price of 7,184 yuan per square foot. In other words, in just three months, the value of the land in this area was pushed up by 18%. Looking through the information, the winning bid price of the new land was 43.6% higher than the market valuation limit of approximately RMB 5,000 per square foot at the time, causing market turmoil. However, judging from the latest Wheelock's winning bid, land prices in this area can be said to be high and not high. Compared with the market valuation at the beginning of this year, it is nearly 70% higher.
Zhang Jingda, a surveyor of Centaline Real Estate, said that the recent positive news on the property market has increased developers' confidence in bidding. For example, Fanjin residential land was approved at a land price of about 9,209 yuan per square foot, which was much higher than market expectations. The land in Kwu Tung Area 24 is close to the future Kwu Tung Station. Today, the high market expected price was approved, reflecting the developer’s appreciation of the development potential of the area. The development density is expected to be high and there is a chance to develop into small and medium-sized units. More than 20,000 yuan.
Commercial parts that can be built 490,000 square feet are banned for sale
The residential status of Kwu Tung District 24 is located in the Kwu Tung North New Development Area, and is adjacent to the planned Northern Link Kwu Tung Station. The land area is 82,065 square feet and the maximum buildable floor area is 492,388 square feet (private residential use should not exceed 410,324 square feet). The plot ratio is about 6 times. The commercial part of the project will not be split and sold, and its maximum buildable gross floor area is 82,065 square feet. The project development period ends on September 30, 2027.
Two pieces of Kwu Tung Land have been sold this year, namely District 24 and 2 above.Land in zone 5. Henderson Land also holds a piece of land nearby. In 2018, it completed the land premium process at a price of RMB 1.24 billion and a land price of approximately RMB 3,643 per square foot. In contrast, the winning bidding price is about 1.33 times higher than the land premium.
11% difference between Fanling landmarks at the beginning of the month
On the other hand, at the beginning of this month, Wing Tai bought the residential official land at the junction of Fanling Road and Castle Peak Road-Kwu Tung Section, which was acquired by Wing Tai at a price of RMB 2.616.8 billion and a land price of RMB 9,208 per square foot. The Lands Department announced other bid prices from RMB 1.193 billion to The price ranged from 2.36 billion yuan, with a difference of 256.8 million yuan, or 11%, from the winning bid price. According to data, the above-mentioned land is adjacent to the Fanling Golf Club. The land area is about 47,400 square feet, and the maximum buildable floor area is about 284,200 square feet.
Archives of the 24th district of the ancient cave
82,065 square feet of land area
Plot ratio is about 6 times
492,388 sq. ft. of buildable floor area
Won the bid consortium Wheelock Properties
Transaction price of 4.185 billion yuan
Price per sq ft 8,499 yuan
Other terms 1. The commercial part cannot be split and sold, and the maximum can be built up to 82,065 square feet
2. The residential part shall not exceed 410,324 square feet
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