HONG KONG | Highrise Developments Compilation Thread

[hkskyline]

LOHAS Park
May 1

[hkskyline]

Hong Kong’s MTR Corp says it will look into providing subsidised housing along two proposed lines if asked by government
South China Morning Post Excerpt
May 21, 2021

Hong Kong mass transit operator MTR Corporation said it would look into providing subsidised housing along two proposed railway lines, if approached by the government.

The company is also a major property developer and landlord in the city and is listed on the Hong Kong stock exchange. It was responding to a question last week by Legislative Council member Regina Ip, who asked the government if it would discuss the allocation of at least half of residential units along the MTR’s proposed Tuen Mun South Extension and Northern Link lines for sale as Home Ownership Scheme flats.

MTR Corp is responsible for construction and operations under its ownership and rail-plus-property development approach. It will be granted the development rights for properties at the railway stations by the government to subsidise the railway construction costs.

More : https://www.scmp.com/business/articl...sing-along-two

[hkskyline]

Hong Kong homebuyers snap up most units at Henderson Land’s The Upper South
May 30, 2021
South China Morning Post Excerpt


Oriental Daily

Hong Kong homebuyers snapped up new flats on Sunday on optimism about a recovery in the city’s economy.

Out of a first batch of 45 units on sale at Henderson Land’s The Upper South in Ap Lei Chau, 41 – or about 91 per cent – were sold by the evening, according to agents. The batch, which included 20 studios and 25 one-room flats, went on sale at 2pm.

“The sales performance is good, as people are optimistic about the economy in the second half of this year, when the GDP is expected to rebound and the Covid-19 situation is expected to be under control in Hong Kong,” said Sammy Po, chief executive of the residential division at Midland Realty, the project’s sales agent.

More : https://www.scmp.com/business/articl...ds-upper-south

Project website : https://www.theuppersouth.com.hk/tc/index.html#top

[hkskyline]

NWD 'The Pavilia Farm III' Secures Over 27K Subscriptions; To Launch More Flats ASAP, Says Adrian Cheng
June 3, 2021
AASTOCKS



More than 27,000 subscription registrations were received for The Pavilia Farm III, a residential project co-developed by NEW WORLD DEV and MTR CORPORATION atop Tai Wai Station, breaking the record of The Pavilia Farm I.

Adrian Cheng, executive vice-chairman and CEO of NEW WORLD DEV, said the group is negotiating with MTR CORPORATION to launch more units as soon as possible given robust demand.

Source : http://www.aastocks.com/en/stocks/ne.../NOW.1103221/2

[hkskyline]

Hong Kong’s home buying frenzy returns, as a record number of bidders snapped up every flat of New World’s The Pavilia Farm III project on offer in Tai Wai
South China Morning Post Excerpt
June 12, 2021



Hong Kong’s property buyers snapped up every single flat put on the market by New World Development during its second round of weekend sales of The Pavilia Farm III project in Tai Wai, with a record number of bidders chasing after every unit.

As many as 30,108 online bids were received for 338 flats, or 89 registrations of interest for every apartment on average, according to a New World spokeswoman. Every unit had sold out by 7pm, according to several sales agents.

The project’s location in Tai Wai, the main transport interchange in Hong Kong’s New Territories, has attracted owner-occupiers and investors alike, as its proximity to amenities, schools, shopping and the transport network improves its potential rental yield, agents said.

More : Home buying frenzy returns to New World’s project in Tai Wai

[hkskyline]

First Kai Tak runway residential project priced 13 per cent cheaper to ‘activate sales’
June 25, 2021
South China Morning Post Excerpt





Hong Kong’s first residential project on the runway of the city’s former airport at Kai Tak has been priced about 13 per cent lower than a development put on sale in the area in April.

China Overseas Land and Investment on Thursday set the prices of the first batch of 212 units at One Victoria at an average of HK$22,977 (US$2,959) per square foot.

“The project has a lot of units, so the prices were set more attractively to attract registrations of intent,” said Sammy Po Siu-ming, CEO of Midland Realty’s residential division. The project also had to compete with leftover stock in the area, he added.

More : https://www.scmp.com/business/articl...eaper-activate

[colemonkee]

$2,959/sq. foot? That's insane.

[mousquet]

Originally Posted by colemonkee

$2,959/sq. foot? That's insane.

Definitely some type of cynical NIMBY strategy to keep property prices artificially high. I heard of it in the media, from the HK people on the streets.
NIMBYs like rich landlords would somehow manage to keep housing supply low over there, given the tremendous demand, on purpose, so they can make loads of money without any effort of any kind, which is obviously nasty.

I think they do the same in a number of cities supposed to be so appealing that they would be immortal, like here in Paris, or in Singapore, Geneva and Zurich in Switzerland... Maybe also in NYC and in London, to a lesser extent.

That kind of NIMBYism is also convenient to those who always want more and more social housing for their ideological reasons.
E.g. here in France, something like 90% of the population in the country must be eligible to social housing in Central Paris or in the affluent inner suburbs.
I'd rather have many more residential buildings available on the market, so people can afford to buy their own homes more easily. It is probably better to own your home, so you don't have to depend too much on society as a whole.
But some disagree on that principle.

[hkskyline]

Christie’s announces new Asia Pacific headquarters at ‘The Henderson’ in Hong Kong Opening in 2024
Press Release Excerpt
July 27, 2021

Christie’s is pleased to announce that we will relocate our Asia Pacific headquarters in 2024 to The Henderson, a striking new urban landmark on Murray Road in Central, Hong Kong designed by Zaha Hadid Architects. With 50,000 square feet of art-inspired space anchoring four storeys within new tower, Christie’s will be able to provide exceptional service to clients with our first year-round saleroom and state-of-the-art gallery presence in Asia. Christie’s iconic new home in the luxury centre of the city is poised to become a worldwide destination for collectors, with a signature profile on the Hong Kong skyline.

This investment affirms Christie’s leadership in Asia and commitment to the region, further strengthening our capability to connect and better serve the rapidly growing number of Asian collectors through an unrivaled global network of salerooms and specialists. The decision not only underscores Christie’s confidence in Hong Kong as the preeminent art and culture hub in Asia, but also testifies to the strong resilience of the art market in the region and beyond.

The establishment of our first year-round saleroom and gallery space in Hong Kong will provide Christie’s with the long-needed flexibility to transform our sales and events schedule from two main seasons a year, to year-round programming, and to embrace opportunities for greater creativity and innovation.

More : https://www.christies.com/features/C...n-11781-1.aspx

[hkskyline]

Square Mile
38 Fuk Chak Street
Project website : https://www.aquila-squaremile.com.hk/en/
24 stories

7/24

[hkskyline]

KMB applies to build an 11-storey e-bus depot in Tuen Mun
The Standard Excerpt
Aug 4, 2021

The Kowloon Motor Bus Co Ltd applied to the Town Planning Board to develop free area near the Tuen Mun – Chek Lap Kok Link into an 11-storey depot for electric buses.

The 11-storey depot with a floor area of around 7,926 square meters is expected to provide parking space for 406 electric buses, according to documents submitted to the Board.

It is expected that KMB will expand its electric bus fleet on a large scale and promote the eBus strategy more efficiently.

More : KMB applies to build an 11-storey e-bus depot in Tuen Mun

[hkskyline]

CK Asset to convert some hotels into residential units to make most of decline in hospitality sector, rise in home prices
Aug 6, 2021
South China Morning Post Excerpt

CK Asset Holdings will convert some of its hotels for residential use amid a decline in the hospitality sector thanks to the Covid-19 pandemic and a record rise in the city’s home prices.

Victor Li Tzar-kuoi, the company’s chairman and managing director, stated publicly for the first time on Thursday that a specific percentage of CK Asset’s hotels portfolio will be converted for housing in the world’s most unaffordable housing market.

“We have a huge hotels portfolio. [For] 10, 15 per cent of that portfolio, the neighbourhood has changed, pricing has changed. And there is value generation by converting some of [these hotels] to residential,” he said.

Harbour Plaza Resort City in Tin Shui Wai could generate a residential area of 139,500 square metres, or 5,000 units, according to a document released by the Town Planning Board in December last year. Horizon Suites in Ma On Shan could generate up to 758 flats, with a residential area of 44,863 square metres, according to another document released in February this year. The two hotels have a total of 1,933 rooms currently, or about 13 per cent of the about 15,000 hotel rooms and serviced suites CK Asset owns.

More : https://www.scmp.com/business/articl...e-most-decline

[hkskyline]

Legco complex expansion to cost HK$1.2 billion
August 16, 2021
Excerpt



Legco president Andrew Leung has put a price tag of HK$1.17 billion on the expansion of the Legislative Council complex to accommodate an additional 20 lawmakers following Beijing’s electoral overhaul.

He said the project is expected to get underway in mid-2022 and should be finished by mid-2025. Four storeys will be added to the existing building and a 10-storey-high structure will be built in the garden.

Leung said meetings will still be held in the existing complex in the meantime, but half of the future 90 lawmakers will temporarily work in a building next to the complex.

More : Legco complex expansion to cost HK$1.2 billion - RTHK

[hkskyline]

La Marina offers 120 units in first price list
Aug 25, 2021
The Standard Excerpt

La Marina in Wong Chuk Hang opened its first price list, offering 120 units at an average price of HK$30,880 per square foot after discounts.

The cheapest flat, a 341-sq-ft one-bedroom unit, costs HK$10.8 million, or HK$31,669 per sq ft after discounts.

The first batch of 120 flats range from 341 to 921 sq ft and cover one to three-bedroom units.

The average price of this batch is four percent higher than South Land in the same district.

The project opened show flats yesterday and will announce the check-receiving arrangement later, with the first round of sales starting next week.

Sammy Po Siu-ming, chief executive of Midland Realty's residential division, said supply of new property on Hong Kong Island in itself is rare, let alone that with large-scale supporting facilities.

More : La Marina offers 120 units in first price list

8/17 (in yellow scaffolding)

[hkskyline]

First price list opens for Henderson's Henley lll
August 27, 2021
The Standard Excerpt

Henderson Land Development (0012) opened its first price list for The Henley III at Kai Tak, offering 81 units at an average price of HK$28,200 a square foot after discounts.

The first batch price per square foot is the most expensive ever at Kai Tak.

The units cover studio flats to three-bedroom flats, ranging from 238 square feet to 778 square feet. Henderson Land set the price at between HK$6.583 million and HK$26.31 million and the price per square foot at between HK$26,545 and HK$34,189.

More : https://www.thestandard.com.hk/secti...9;s-Henley-lll

[hkskyline]

Grand Victoria
Project website : https://www.grandvictoria1.hk/

8/26

[hkskyline]

Sun Hung Kai repeats its sell-out weekend at Wetland Seasons Bay as Hong Kong’s returning buyers push home prices to near record
August 28, 2021
South China Morning Post Excerpt


Ming Pao

Hong Kong’s homebuyers plunged into the market for fear of missing out as prices approached a record high, helping Sun Hung Kai Properties (SHKP) to record its second sell-out weekend.

All 300 apartments on offer at the Wetland Seasons Bay in Tin Shui Wai were sold at 7pm, as buyers shrugged aside an 11-per cent price increase, which raised the average price to HK$15,176 per square foot from last week’s HK$13,698 per sq ft.

Wetland Seasons Bay, scheduled for completion June 2022, comprises 1,996 apartments and 10 villas across three phases. The average price of the first 245 units released was HK$13,698 per square foot, which was 5.6 per cent higher than the most recent project in the same neighbourhood, released in September 2020.

More : https://www.scmp.com/business/compan...nd-seasons-bay

[hkskyline]

Originally Posted by hkskyline

Murray Road Car Park Redevelopment

This prime Central piece of land is being redeveloped into a 35-storey building.

Designed by Zaha Hadid's architecture firm, the land plot was sold for over HKD $23 billion (USD $3 billion) in 2017.



Rendering (https://www.zaha-hadid.com/architecture/2-murray-road/)

8/17

[hkskyline]

Sun Hung Kai repeats its sell-out weekend at Wetland Seasons Bay as Hong Kong’s returning buyers push home prices to near record
Augt 30, 2021
The Standard Excerpt

The primary property market was buoyant during the weekend.

Figuring in the action were 45 flats at The Henley III in Kai Tak being offered by Henderson Land Development (0012).

The second price list for the flats, which range from 238 to 540 square feet and comprise 14 studio flats, 25 one-bedroom flats and six two-bedroom flats, shows them priced at between HK$6.69 million and HK$18 million with a 5 percent discount.

The discounted per square foot prices are between HK$25,246 and HK$33,385, up 1.7 percent from the first price list. Around 350 checks were received by yesterday, meaning a fourfold oversubscription.

Sales executive Thomas Lam Tat-man said he expects the second round of sales to begin next weekend.

Atop Wong Chuk Hang MTR station, La Marina attracted at least 2,000 checks in four days, marking an oversubscription of 9.6 times.

Developed by Kerry Properties (0683), Sino Land (0083) and MTR Corp (0066), the project is package two of The Southside development at the MTR station.

Tong Yiu-chung, Hong Kong general manager at Kerry Development, said 80 percent of the prospective buyers were from Hong Kong Island, and 30 percent had indicated they wanted to buy more than one flat.

In Tin Shui Wai, Sun Hung Kai Properties (0016) released a sixth price list for Wetland Seasons Bay to launch another 123 flats at an average price of HK$15,492 per square foot.

More : https://www.thestandard.com.hk/secti...-for-new-units

[hkskyline]

Originally Posted by hkskyline

LOHAS Park
May 1

Some drone footage of the Cross Bay Link under construction and the other end of it is LOHAS Park :

• Video Link