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First seafront commercial plot of land on Kai Tak runway sells for record HK$11.1 billion

The first seafront commercial plot of land on the runway of Hong Kong’s former airport, Kai Tak, has sold for a record HK$11.1 billion (US$1.41 billion), the city’s Lands Department said on Wednesday.Hong Kong developer Goldin Financial Holdings shrugged off the turmoil of an escalating trade war to win the tender for Kai Tak 4C Site 4, the second commercial plot on the runway to be offered for sale. At HK$12,888 per square foot, the sale was broadly in line with a forecast of HK$13,000 per… Source link

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Developers are lukewarm on Kai Tak’s commercial plot as trade war impasse creates an anticlimax to a week of record home sales

The second commercial property plot on the runway of Hong Kong’s former airport received fewer bidders when a government tender closed on Friday, as the absence of a resolution in the US-China trade war provided an anticlimax to a week of record-breaking sales in the city’s home market.Area 4C Site 4 on the Kai Tak runway, valued at HK$11.2 billion (US$1.4 billion), or HK$13,000 per square foot for the 863,000 square feet (80,175 square metres) of gross floor area, received six bids, according… Source link

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Kai Tak’s third-largest plot of residential land goes to Henderson-led consortium for record HK$12.6 billion

A consortium of six developers including Henderson Land Development agreed to pay HK$12.6 billion (US$1.6 billion) for the third-largest residential plot at the runway of Hong Kong’s former Kai Tak airport. The total price translates to HK$19,636 per square foot, which means a flat complex built on the site will sell for at least HK$30,000 per sq ft, inclusive of a construction cost of HK$5,000 per sq ft and a 20 per cent profit margin for the developer. Besides Henderson, the consortium… Source link

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Developers rush to bid for Kai Tak’s latest residential land plot as bull market returns to Hong Kong’s real estate

Developers submitted seven bids for the third-largest residential plot at Hong Kong’s former Kai Tak airport, as April sales data showed home transactions jumping by 52.8 per cent from March, in a clear sign of the bull market’s return to the world’s most expensive city.Kai Tak’s Area 4C Site 2, a sliver of land sitting on the former Kai Tak runway, can yield 641,168 square feet (59,566 square metres) of gross floor area. It is valued at HK$11.5 billion (US$1.47 billion), or HK$18,000 per… Source link

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Consortium of three developers wins bid for priciest land plot in Lohas Park, signalling bullishness on outlook

A consortium made up of Sino Land Company, K. Wah International Holdings and China Merchants Land beat out 10 rival bids to win the latest phase of the Lohas Park development, the project that could fetch the highest new flat prices in the community, the MTR Corp said on Thursday.“The winning developers have great experience in residential property development and sales,” said Thomas Lam, executive director of Knight Frank. “In the long term, the supply of residential land at MTR stations is… Source link

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MTR draws 11 bids for the priciest land plot in Lohas Park as the return of Hong Kong’s property market bull run lifts confidence

Lohas Park has drawn 11 bids for the latest phase of its residential development in the New Territories, as developers vie for the land parcel near the sole shopping centre in Hong Kong’s largest residential community.Eleven bids were submitted for the plot, which can accommodate up to 1,850 homes on 950,000 square feet (88,200 square metres) of gross floor area. That translates into more than one fifth of the 8,800 private flats expected to be built on the 15 private residential sites to be… Source link

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Singapore 

Plot twist: A hip bachelorette pad, designed for elders?, Singapore News

With her parents getting on in age, Leng Leng decided that a revamp was needed to turn their shared condo into a safer, more elderly-friendly space. At the same time, it was also the perfect opportunity to update the outdated look of their 20-year-old home! Turning into a refreshing, Scandi/MUJI themed space that’s packed with elderly-friendly elements, Leng Leng shares what went down in her renovation process and how Ray from Space Atelier helped to pull it off. ABOUT HERSELF Photo: Qanvast Leng Leng (LL): Hi there, I’m Leng Leng…

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Lantau Island land plot sells for 50pc above expectations, driven by Greater Bay Area ‘fever’

A land plot on South Lantau Island sold for HK$1.13 billion (US$143.96 million), beating market forecasts by as much as 50 per cent amid optimism towards the spin-off benefits arising from the “Greater Bay Area”.Huge Choice Group, an affiliate of mainland developer Agile Group, won the tender for HK$12,740 per square foot, the Lands Department said on Monday.The director of Huge Choice Group is Chan Cheuk Yin, according to records on the Integrated Companies Registry Information System. Chan is… Source link

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Property 

China’s credit crunch pressures CIMG into discounted sale of key land plot in Shanghai

Troubled investment conglomerate China Minsheng Investment Group (CIMG) sold its remaining stake in a prime plot of land in Shanghai at a discount on Wednesday, after a bond default drew attention to the company’s liquidity shortfall. The firm made full payment to its creditors after the deal, sources said. CIMG sold its 50 per cent stake in the central Shanghai site known as Dongjiadu, on the west bank of the Huangpu River, to Greenland Holdings for 12 billion yuan (US$1.8 billion). The deal was completed at a 20 per cent…

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Property 

Is Hong Kong’s housing market recovering? Plot of land in Tai Po attracts more bids than expected

A parcel of residential land for sale in Tai Po fetched more bids than anticipated in a possible sign that Hong Kong’s developers are becoming more optimistic about the flagging market. The plot at Pak Shek Kok had received 10 bids when the tender closed at noon on Friday, beating Knight Frank’s estimate of five to eight bids. The builders that submitted bids included Sun Hung Kai Properties, CK Asset Holdings, Henderson Land Development, Wheelock Properties, K Wah International, K&K Property, Far East Consortium, KWG Property and a joint venture…

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