Real estate market
Author: Zhai Ziqian
2020-05-15 12:26
Last update date: 2020-05-15 12:26Anderson Road, Kwun Tong, involved the closing of the first parcel of land for pick-up this afternoon. According to what the reporter saw on site, at least 8 bids were received. Solely-funded consortia include Xinzhi (0083), Huamao, Jiaming (1271), China Overseas (0688), Jiahua (0173), and Hengdi (0012), Far East (0035), Imperial Joint Venture Consortium, and two developers with unknown background.
Jiaming Group project manager Zeng Jiamin said that the group is a wholly-owned investment. It understands that the land is more risky, has a price limit and a price limit, and it needs to be sold in existing buildings. It takes five years for cash to be returned. After considering various factors, the bid is more conservative.
She added that considering the land is suitable for developers to pick up on the market, even if she is worried that the cash may not be returned early, she still has confidence in the development project. She also pointed out that the group hopes to have more choices of land, and hopes that the government will increase land supply.
Anderson Road's first land acquisition on Friday has a low valuation of 4.6 billion yuan
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According to Yin Ziwei, director of real estate development and leasing at Ka Wah International Hong Kong, the bid is a sole proprietorship. The project belongs to a large-scale land in Mid-Levels, Kowloon. The group has considered the conditions and limitations of the project and considered that the return of funds is slower than the general property sales.
According to the land sale regulations, the first-time project needs to provide a 20% discount. When the project is approved for admission, the government will randomly select 1,000 units as the first-place unit. Announcement of the price of the remaining private flats in the project means that uncompleted properties cannot be sold.
The latest market valuation ranges from about 4.6 billion to 7.1 billion yuan, and the floor price per square foot is about 4,200 to 6,500 yuan. The Anderson Road site covers an area of approximately 210,000 square feet and has a floor area of 1.09 million square feet, which is designated for private residential development.
Hong Kong people sell land for the first time on land at Anderson Road, Kwun Tong