Page 9 - Building Journal - November 2017

HONG KONG

sewage works relocated into a rock cavern areas are 55,062 and 91,770 sq m.
in Asia. Once completed, 28 hectares of Expert in the field said the waterfront site
waterfront Sha Tin land can be freed up for in the former industrial area of Cheung Sha
housing or other public facilities. Wan is probably the citys most expensive
residential plot. Thomas Lam, senior director
Relocating terminals a long-term option at Knight Frank said it is expected that the
At its fourth meeting being held on November total development cost will be approximately
16, the Task Force on Land Supply discussed HK$22 billion.
the relocation of and topside development
over Kwai Tsing Container Terminals, and Cheung Sha Wan hotel site sold
developing existing land through ongoing to Sun Hung Kai Properties
initiatives.
Chairman Stanley Wong said in The Lands Department announced on
considering any proposal to increase land October 30, the tender for a Cheung Sha
supply by changing the land use of the Wan hotel site has been awarded on a 50-
terminals there is a need to cautiously assess year land grant at a premium of $5.06 billion.
its impact on the terminals' operation and the New Kowloon Inland Lot No. 6550 off Hing
city's economy. Wah Street West, Kowloon, was awarded to
Noting the terminals and the nearby Fedder Limited, a subsidiary of Sun Hung Kai
port back-up facilities currently cover 380 Properties Limited.
hectares, Mr Wong said a replacement site The land has a site area of 4,880 sq m
must be surrounded by deep waters and and is designated for hotel purposes. The
reclamation may have to be involved. The minimum and maximum gross floor areas
provision of supporting infrastructure for the are 20,862 sq m and 34,770 sq m. Sun Hung
new terminals and the technical feasibility Kai Properties is expected to build a luxury
and cost-effectiveness of the relocation plan hotel on the site. Analysts said it is probably
also need to be considered. the most expensive plot for a hotel venture to
The government has not yet conducted date in Hong Kong.
policy and technical studies on the proposal un Hung Kai Properties spokesman said
which would involve the construction of the group expects the total investment in the
large-scale infrastructure. project to reach about HK$8 billion. The
On developing existing land, task force project to be built will have a total GFA of
Vice-Chairman Greg Wong said the rezoning approximately 374,000 sq ft and 37,000 sq ft
of sites identified in land use studies and for shops and restaurants.
increasing development density in the short
to medium term are the more immediate HKA selected for a HKIA
solutions to alleviating land shortage.
framework agreement to
Cheung Sha Wan residential support the delivery of 3RS
site awarded at a premium of HKA, a worldwide provider of advisory,
$17.28 billion consulting and expert services, has entered
into a five-year framework agreement with
The tender for a Cheung Sha Wan the Airport Authority Hong Kong to support
residential site has been awarded on a 50- the delivery of a new Three-runway
year land grant at a premium of $17.29 system (3RS) that will strengthen Hong
billion, the Lands Department announced Kongs competitiveness as an international
on November 15. aviation hub.
New Kowloon Inland Lot No. 6549 was The HK$141.5 billion (US$18bn) mega-
awarded to Sky Asia Properties, a subsidiary
of a consortium made up of Sino Land
Company, Shimao Property Holdings,
Wheelock Properties, K Wah International
Holdings and S E A Holdings.
It has a site area of about 19,348 sq m and
is designated for private residential purposes.
The minimum and maximum gross floor

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