The Chief Executive Carrie Lam Cheng Yuet-ngor in this year’s Policy Address, for the first time ever, proposed to recover 700 100 hectares of private fishing ponds and wetlands in the north, and establish three wetland conservation parks with a total area of 2,000 hectares.
"Hong Kong 01" statistics found that the scope of land resumption involved the four major real estate developers of Henderson Land Development (0012), Cheung Kong (1113), Sun Hung Kai Properties (0016), and New World (0017), as well as the land of some established families.
If we refer to the current government compensation price for land resumption, the government may have to spend 25 billion yuan in public funds to regain land.
Among them, Henderson Group is the big winner and may receive 4.7 billion yuan in compensation; Cheung Kong is in second place with 1.7 billion yuan.
01 Investigation series reports:
Northern Metropolis | Jiansan Wetland Park may use 25 billion public funds to acquire Henderson Land as the biggest winner
Northern Metropolitan Area | 1.8 billion yuan received by Wen's ancestral hall to build a wetland park. The bidding price of the rural affiliation is several times higher
Northern Metropolitan Area | Nanshengwei Wetland Park Proposed by Fu Laorong Family: No one will affect the appeal of urban planning
▼The site of the proposed wetland park is mostly fish ponds▼
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Chief Executive Carrie Lam Cheng Yuet-ngor’s last policy address during his term of office stated that in the development plan for the northern metropolitan area, three wetland conservation areas will be established and the Hong Kong Wetland Park will be expanded. Private wetlands and fish ponds with conservation value in areas such as Tai Wai, Fung Lok Wai, Tai Sang Wai, Sambo Shu, Ho Hok Wai, Sha Ling and Nam Hang.
When Lam Cheng was interviewed by the media earlier this month, he said that he would be repossessed under the Land Resumption Ordinance.
However, the government has not yet made it clear whether it will use the usual methods to recover land and compensate.
According to the "Land Resumption Ordinance", the government needs to pay compensation, and the amount of compensation used to be determined by the Lands Department in accordance with the "New Territories Land Preferential Compensation System".
Carrie Lam proposed the "Northern Metropolis Development Strategy" in the 2021 Policy Address, suggesting that private fish pond wetlands should be recovered, together with adjacent government land, to establish three new wetland conservation parks.
"Hong Kong 01" found that many private lands were owned by developers and Man's ancestral halls.
(Hong Kong 01 drawing)
Compensation of 333 yuan per square foot or more than 25 billion yuan
Senior surveyor Liu Zhenjiang predicts that the private land to be reclaimed for use as a wetland park is a high-quality wetland or fish pond. If these land belong to the Ding District under the "New Territories Land Preferential Compensation System", the current land acquisition per square foot of agricultural land will be preferential The compensation is 333 yuan per square foot. If 700 hectares of private land needs to be recovered, a rough calculation may involve public funds of more than 25 billion yuan.
He believes that many private wetlands have been abandoned, and housing is not allowed to be built, and public funds are used for conservation. This is a win-win situation for the community and land owners.
"Hong Kong 01" checked the private land rights within the proposed wetland park and found that most of the land was held by real estate developers
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Henderson gets compensation of 4.7 billion yuan for consortium sitting on 185 hectares of land
Henderson Land is the largest landlord, holding multiple plots of land, covering an area of approximately 185 hectares, either alone or jointly with Xindi.
But calculating Henderson Land's rights and interests, if the government resumption of land, it may receive about 4.7 billion yuan in compensation.
A land of about 25.85 hectares in Sanbaoshu is held by "Capital Real Estate Development Co., Ltd.". The compensation value of the land is about 927 million yuan.
According to the annual report of New World Development, New World holds 64% of the company.
In other words, in terms of equity, New World can be compensated for equity of about 600 million yuan.
Most of these lands were purchased by developers in the early years. For example, a Nanshengwei site in the newly-built conservation area (lot number 1529) was purchased by the Xu Aizhou family in 1964 for 860,000 yuan, and may now be compensated for more than 1.04 billion yuan; In addition, Henderson's Nanshengwei Diaozhou (lot number 1534) was purchased in 1992 for 40.09 million yuan, and it may now be compensated for more than 760 million yuan.
▼Part of the developers who own the land▼
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Part of the land in Nam Sang Wai 50 years ago has been paid for the land price compensation will be higher
Among them, the private land in Nanbianwei, which is jointly held by the Henderson and Fu Laorong family, contains 2.72 hectares. As early as 1965, the land price of 31,000 yuan has been paid. Even higher, it is expected to reach 1 billion yuan.
The Fu Laorong family led the development of the Nanbianwei and Diaozhou land, and failed to pass through the city planning committee many times, and is currently awaiting the outcome of the appeal.
Fu's spokesperson responded, "I hope no one will deliberately influence the decision of the Town Planning Appeal Group."
▼Nam Sang Wai▼
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The ancestral hall surnamed Liangwen can be divided into 2 billion yuan for the male landlord
In the same area of the proposed Sanbaoshu Wetland Park, there are two plots of land owned by two ancestors with the surname Wen. Among them, the "Wenshuitanghui" owns nearly 50 hectares of land and is estimated to receive nearly 1.8 billion yuan in compensation; Yi Zu Tang "MAN SAI KO TSO" (transliteration "Wen Shi Gao Zu") can also receive 270 million yuan.
The manager of the "Wen Shui Tong Club" is Man Pingnan, a former Yuen Long District Council member and former chairman of the Xintian Township Committee.
At present, the ancestral hall requires the consent of all males before it can be sold. The authorities are reviewing whether 100% consent is required before the sale can be made.
▼Fung Lok Wai▼
Fung Lok Wai Land Cheung Shih was approved for building plans without land premiums or undercurrents
As for a plot of about 79.99 hectares of land in Fung Lok Wai, it is held by a joint venture of Cheung Kong, Far East and other developers, and Cheung Kong holds a 60% interest.
In his "policy address", Lam Cheng planned to use the site as an extension of the existing Hong Kong Wetland Park.
Once the government resumes the land, the land may have to compensate 2.867 billion yuan, of which 1.72 billion yuan will be lost to Cheung Kong.
Cheung Kong submitted a planning application to the Town Planning Board in 2013, suggesting the construction of 19 private residences with 15 to 19 floors, that is, more than 1,900 units, as well as a two-storey clubhouse and a one-storey management office, involving 159.29. Million square feet.
The project has been granted conditionally by the Rural and New Town Planning Subcommittee. The land has not been exchanged and paid for, but the building plans have been approved by the Buildings Department.
Some people in the real estate industry pointed out that although the Cheung Kong Group's Feng Lok Wai project has obtained building plans, since it has not yet reached a land exchange premium with the government, the land will still be regarded as agricultural land when it is repossessed.
According to an independent valuation report published by the Cheung Kong Group at the beginning of this year, the independent valuation is 2.15 billion yuan, and Cheung Kong holds 60% of the equity, which is 1.29 billion yuan.
"Hong Kong 01" asked Cheung Kong Group about the Feng Lok Wai project, but no reply has been received so far.
Senior surveyor Liu Zhenjiang estimated that the private land to be reclaimed for use as a wetland park is a high-quality wetland or fish pond, which may involve public funds of more than 25 billion yuan.
(Profile Picture / Photo by Liang Pengwei)
Innovation Office: still needs research
The Office for Policy Innovation and Co-ordination stated that the "Northern Metropolis Development Strategy" proposes to recover private fish pond wetlands, together with adjacent government land, to establish wetland conservation parks. The government still needs to conduct relevant research to finalize the establishment of wetland conservation parks. Scope and related implementation arrangements and details.
Carrie Lam proposed in the 2021 Policy Address to establish three wetland conservation parks.
(Information Picture / Photo by Liao Yanxiong)
Northern Metropolitan Area | 1.8 billion yuan received by the Wen family's ancestral wetland park to build a wetland park, the rural affiliation bid is several times higher. Policy address | Nanshengwei's proposed wetland park Fu Laorong family: no one will affect the appeal of urban planning
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