2024-04-30 28Hse Editor
(Reporters Yan Lunle, Li Zitian) No large-scale projects have been started this year, and the number of private housing starts has continued to be sluggish. The Buildings Department announced that only 3 projects had started construction in April, with about 366 units starting up. Although it rose 86% month-on-month, the cumulative number of units started in the first 4 months was only 573 units, a 73% decrease from the 2,118 units in the same period last year, a record high since 2010. 13-year low for the same period. However, as the epidemic eases, Chen Haichao, head of Ricago Real Estate Research, believes the start of construction will accelerate for the rest of the year.
The trend of completion is the opposite of that of construction. According to information from the Buildings Department, in April a total of 1,896 private residential units were completed in 4 projects, up 1.46 times month-on-month. In the first 4 months, a total of 17 projects involving 9,979 private residential units were completed, compared with 4,112 units in the same period last year. A sharp increase of 1.43 times is the largest in the same period in 21 years since 2002. Chen Haichao pointed out that the completion volume in the first four months has reached about 44% of the government's forecast of 22,850 units, which is temporarily better than expected.
Wing Tai Kwudong site approved to build 35-storey residences
With the government's determination to develop the "Northern Metropolitan Region", new supply has gradually emerged in the region. According to information from the Buildings Department, Wing Tai Properties bid for the Kwu Tung residential official land for 2.6168 billion yuan at the end of June last year, and was approved to build a 35-storey residential building on a basement level with a total floor area of about 284,163 square feet.
The above-mentioned residential land in Kwu Tung is located next to the Fanling Golf Club. The land has recently been approved by the Buildings Department for the construction of a 35-storey, one-storey basement with a floor area of about 284,000 square feet. According to the data, Yongtai sold 10% and 5% of the project's equity in August 2021 to Dong Jianhua's younger brother Dong Jiancheng and Tang Yingnian, respectively, for a price of 392 million yuan.
Two residential projects in Yau Tong received approval for more than 1,800 units
There are also approved plans for two projects in the Yau Tong Development Area. For example, the World Transport Warehouse at No. 8 Si Shan Street, owned by the Kang Shi Group under the family of the late "Ship King" Bao Yugang, was approved by the Buildings Department to rebuild a 25-storey commercial and residential building with a 3-storey plinth platform And a 2-story basement with a total floor area of about 266,200 square feet. The project has been approved by the Town Planning Commission for redevelopment earlier, providing about 445 units, mainly 1-bedroom and 2-bedroom units.
The Yuexiu Refrigerated Warehouse in the same district of Yuexiu Real Estate and the adjacent land have been approved to build four 23- to 27-storey high-rise multi-storey residences, with two-storey base platforms and one-storey basement, with a residential floor area of about 658,000 square feet. The project was approved by the Town Planning Board earlier to build 1,393 units. In addition, Binjing Garden, No. 9, Nanwan Road, South District of Hang Lung Properties, has been approved to develop 25 3-storey houses, with an additional parking floor, with a total floor area of about 126,921 square feet.
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