Original title: land premium of HK $2.683 billion for so Kwun Wat project built by Sun Hung Kai and Hing Shing Source: viewpoint Real Estate Network

Opinion Real Estate Network News:On 20 January, the developer accelerated the premium for agricultural land in the New Territories. Hing Shing pointed out that the so Kwun Wat project in Tuen Mun had just reached a premium agreement with Sun Hung Kai at a premium of HK $2.683 billion, which is about 613600 sq ft of the total floor area of the project. the premium is about HK $4373 per square foot.

Calculated on the basis of a construction cost of $4000 per square foot, together with factors such as "10% water production", 20% profit, 80% utility rate, and so on, it is roughly estimated that the practical price of the project upon completion will be more than HK $12000 per sq ft, and the recent transaction price of the nearby Hengda Longlong Bay is about HK $17000 per sq ft. The transaction price of Imperial Xingtao near the Gold Coast is about HK $15000 per sq ft.

The project is located at the junction of so Kwun Kwan Road and Kwun Tsui Road, adjacent to the star embankment developed by Sun Hung Kai. As it is regarded as "Star Embankment II" by the outside world, the project was approved by the Town Planning Board in 2019 with a plot ratio of about 2.6. seven residential buildings and two clubhouses with a total floor area of about 613600 square feet will provide 1326 flats.