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November 4, 2019

Wong Chuk Hang Station project clinched by Kerry, Sino, Swire consortium

WCH Property Development Co Ltd, a consortium formed by Kerry Properties, Sino Land and Swire Properties won the tender for the Wong Chuk Hang Station Package Four Property Development, which was officially announced by MTR Corporation earlier. Kerry Properties spokesman said that the development will be a luxury residential project with two 38-storey buildings. It will provide around 800 units. Thomas Lam, Executive Director at Knight Frank said, partnering with other developers in a development project can help lower risks. As land premium and development costs are increasing in recent years, land bidding through a joint venture is expected to be a new trend.
     The Buildings Department approved 22 building plans in August - seven on Hong Kong Island, eight in Kowloon and seven in the New Territories. Of the approved plans, 10 were for apartment and apartment-commercial developments, three were for commercial developments, five ere for factory and industrial developments, and four were for community services developments.
     Consent was given to start works on 13 building projects, which will provide 134,266 sq m of gross floor area for domestic use involving 2,119 units and 160,783 sq m for non-domestic use. The department also issued 13 occupation permits - five on Hong Kong Island, three in Kowloon and five in the New Territories.
     Buildings certified for occupation have 6,396 sq m of gross floor area for domestic use involving 205 units and 22,655 sq m for non-domestic use. The declared cost of new buildings completed in the month was $1.2 billion.