He Wentian Station Phase 2 Intentions Valuation: 15.4 billion

The MTR (00066) has started to recruit the second phase of the Ho Man Tin Station project from today. The building area is about 640,000 square feet. The highest market value is 15.4 billion yuan. The land price per square floor is 24,000 yuan. The letter of intent will be intercepted next Monday (17th).

Interruption of the letter of intent next Monday

The Hewentian Station Project is located at the junction of Zhongxiao Street and Foguang Street. It is adjacent to Xindi (00016) Tianzhu and belongs to the traditional luxury residential area.

The first phase of the north section was completed by Gao Yin Finance (00530) at the end of 2016 and later resold to Chairman Pan Sutong. The second phase of the MTR launch was the southwestern part of the site.

The project is for pure residential development purposes, with a residential floor ceiling of 639,000 square feet, which is slightly 14% less than the first phase of the project, and can be built between 900 and 1,000 people. It is expected to be completed in 2024.

MTR continued to announce that after the completion of the invitation to interested developers to submit a letter of intent for development, a list of bidders will be compiled to invite suitable developers to submit official tenders.

Due to the rare luxury residential land in the urban area, the market is generally optimistic about the value of land use. With the amount of land premium, the current market valuation ranges from 11.4 billion to 15.4 billion yuan. The floor price ranges from 17.8 million to 2.4. Ten thousand yuan.

Major developers are the main targets

Lin Haowen, senior director and director of valuation and consulting at Knight Frank, believes that the scale of development has always been large. It is estimated that the funded consortium will focus on large-scale developers with strong strengths, and some of them will jointly organize consortia to share development risks. He believes that the market value of land use is 14 billion to 15.4 billion yuan, and the floor price is about 22,000 to 24,000 yuan. In the future, the price of the sale will be 35,000 yuan.