HONG KONG | Highrise Developments Compilation Thread

[hkskyline]

Originally Posted by 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

8/14

[hkskyline]

Originally Posted by 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

8/18

[hkskyline]

Small businesses fear a struggle to survive when Hong Kong factory estates are knocked down for housing
Hong Kong Free Press Excerpt
August 28, 2021

Many small businesses fear they will struggle to survive after the Hong Kong government announced plans to demolish four public factory estates with over 2,000 tenants to build public housing.

Tenants of Sui Fai Factory Estate in Fo Tan, Yip On Factory Estate in Kowloon Bay, Wang Cheong Factory Estate in Cheung Sha Wan, and Kwai On Factory Estate in Kwai Chung were in May given 18 months’ notice to quit.

As part of compensation plans, they were offered a sum equal to 15 months of rent as well as an additional HK$100,000 if they move out before February next year.

HKFP talked to some tenants at Sui Fai Factory Estate about what the demolition would mean for them, as well as their businesses.

Fanny Wong, representative of the estate, said the government never consulted the tenants before deciding on the redevelopment plan.

More : https://hongkongfp.com/2021/08/28/sm...n-for-housing/

[hkskyline]

Originally Posted by 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

• Video Link

[hkskyline]

Kai Tak Sports Park
Project website : https://kaitaksportspark.hk/en

8/30

[hkskyline]

Hong Kong Airport Expansion
Project website : http://www.threerunwaysystem.com/en/

Hong Kong Airport Construction - July 2021 by globetrekimages, on Flickr

[hkskyline]

Originally Posted by 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

Home buyer hopefuls run hot for new units
Aug 30, 2021
The Standard Excerpt

The primary property market was buoyant during the 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.

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

[hkskyline]

Originally Posted by hkskyline

LOHAS Park
May 1

Drone footage of the new bridge under construction connecting LOHAS Park with Kowloon :

• Video Link

[hkskyline]

Originally Posted by hkskyline

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

8/26

8/30

[hkskyline]

HLD Kai Tak 'The Henley III' Receives 850 Checks; Oversubscribed by 7.5x
Sept 2, 2021
AAstocks

HENDERSON LAND's residential project located in Kai Tak "THE HENLEY III", as at 3 pm today (2nd), has received 850 checks during its first round of sales, oversubscribed by 7.5x, based on the initial offer of 100 units to be released this Saturday (4th), said Thomas Lam, general manager of sales department of the company. Lam expressed that the company is confident that the project would be able to amass 1,000 checks by September 5.

More : http://www.aastocks.com/en/stocks/ne...39/latest-news

[hkskyline]

Originally Posted by 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

Wetland Seasons Bay

Drone footage :

• Video Link

[hkskyline]

Originally Posted by hkskyline

8/30

Grand Victoria

8/28

Tai Mo Shan by John Hammond, on Flickr

[hkskyline]

Originally Posted by hkskyline

8/14

One Victoria & Kai Tak Stadium

9/4

Kolwoon Bay by C.H Lam Photography, on Flickr

[hkskyline]

Originally Posted by hkskyline

Home buyer hopefuls run hot for new units
Aug 30, 2021
The Standard Excerpt

The primary property market was buoyant during the 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.

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

Red-hot sales in property market
Sep 6, 2021
The Standard Excerpt

About 540 units from three new major projects were sold over the weekend and the developers have increased prices for the new batches that have been launched.

All 188 units of La Marina in Wong Chuk Hang were sold on Saturday and an additional 90 new units, ranging from 343 to 955 square square feet have been put on the market.

The average price of the newly launched batch is HK$34,056 per sq ft, and they range from one-bedroom to three-bedroom units.

The cheapest flat, a 343 sq ft one-bedroom unit, is priced at HK$11.19 million after discounts, or HK$30,587 per sq ft.

More : https://www.thestandard.com.hk/secti...roperty-market

[hkskyline]

Hong Kong’s Urban Renewal Authority ready to build subsidised flats, but needs land to move faster, chairman says
Sep 6, 2021
South China Morning Post Excerpt

Hong Kong’s Urban Renewal Authority needs more land, not money, from the government to do a better job of boosting the city’s housing supply, according to chairman Chow Chung-kong.

Having the necessary land would free the statutory body to build homes and relocate residents without first having to pay hefty compensation to acquire buildings, he said in an interview with the Post.

The URA was also exploring new ideas for future projects, Chow said, including transferring plot ratios – which determine the built-up area on a site – between locations, enabling it to build more homes in prime spots and improve planning when redeveloping urban neighbourhoods.

More : https://www.scmp.com/news/hong-kong/...ty-ready-build

[hkskyline]

Factory building in Kowloon Bay to be transformed into 2,200 public housing flats
The Standard Excerpt
Sep 8, 2021

Yip On Factory Estate in Kowloon Bay will be redeveloped into four public housing blocks providing 2,200 units.

The factory building is one of four to be demolished, according to an earlier Housing Authority announcement. The others are Sui Fai Factory Estate in Fo Tan, Wang Cheong Factory Estate in Cheung Sha Wan and Kwai On Factory Estate in Kwai Chung.

Yip On Factory Estate is near Kowloon Bay Station and covers an area of about 1.5 hectares.

According to a document sent to district councilors, the authority plans to convert the building into four residential buildings with a total gross floor area of 135,000 square meters, which is expected to provide about 2,200 units and accommodate about 6,000 people.

More : https://www.thestandard.com.hk/break...-housing-flats

[hkskyline]

Originally Posted by hkskyline

8/18

The Henderson

9/1

[hkskyline]

M+ opening finally comes into view
The Standard Excerpt
Sep 9, 2021

The long-awaited M+ museum in West Kowloon Cultural District will finally open on November 12, with admission fees waived for a year for Hong Kong residents.

Around 1,500 artworks drawn from the M+ Collections will be presented in the 17,000-square-meter exhibition space in 33 galleries and other display spaces.

Doryun Chong, deputy director and chief curator at M+, said the museum is different when compared to leading modern art museums in the West "because our vantage point on this side of the world is distinct. This is a multidisciplinary contemporary collection, grounded in Asia and like no other in the world."

The museum's opening displays will have thematic exhibitions featuring visual art, moving images, architectural projects and archival items.

One exhibition is the M+ Sigg Collection: From Revolution to Globalization, which features contemporary Chinese art from the 1970s into the 2000s.

More : https://www.thestandard.com.hk/secti...omes-into-view

[hkskyline]

The Henderson

9/8

[hkskyline]

Originally Posted by hkskyline

Home buyer hopefuls run hot for new units
Aug 30, 2021
The Standard Excerpt

The primary property market was buoyant during the 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.

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

Race speeds up for homes
Sep 13, 2021
The Standard Excerpt

Momentum in residential home sales continued with more than 400 units from new projects sold, but the rental market saw a reversal.

A total of 185 units in La Marina in Wong Chuk Hang were sold off on Saturday, and an additional 133 new units ranging from 320 to 1,420 square feet have been put on the market.

Developers raised the price by 3.55 percent for the latest batch in La Marina, costing on average HK$36,590 per sq ft.

More : Race speeds up for homes