The The programme allows landowners in designated areas to pay premiums to government and develop land for specific land use indicated in the approved statutory zoning plans. Town Planning BoardThe chief executive officer and his advisors.

Applicants By the end of this year, the developers of the second phase in the area were required to accept terms and premiums for the sites that fall under their development. March 31 next year is a timeline that the developer considered “too short” You can also find out more about the following: “impractical”.

The The developer has urged the Government to extend the period by at least March 2026, and consider the handling of applications in stages.

“We will reflect our opinion to authorities … If the government does not change its mind, we are inclined to withdraw our applications,” The source stated.

Under In the second phase of development, the government has allotted 16.9 hectares around Hung Shui Kiu Developers are expected to build 1.3 million gross square metres of floor space in the city centre.

But The company claimed that the commercial land required was too large, taking up 1.1m square metres, or 85 percent of the total floor area. This included 900k square metres in the centre of the city. That The area of a typical 1,09 million square metre gross floor area is approximately the same. Kowloon Station development.

“After the Covid-19 pandemic, workplace culture has changed. Many are concerned about work-life balance and opt to work from home or adopt the hybrid model. Traditional office usage is dropping,” The source stated.

“It prompts people to ask whether the market can take such a massive amount of commercial land use.”

Property JLL consultancy said in February As of September 2012, the overall vacancy rates for Grade A offices stood at 12.9% JanuaryWith that in mind, Central The increase in 10.4% from 9.9% a month ago is a significant one.

The Insiders added that central business districts are transforming into “central social districts”The exhibition included housing, offices, and recreational elements, such as museums, and public spaces.

The Developer cited the following example London’s Canary WharfIt is estimated that the new residential area will cover about half its total area. Melbourne’s Planning policy for adding housing to the central business district.

Many Central business districts are transforming into “central social districts” As well as London’s Canary WharfThis complex features housing, offices and recreational facilities. Photo: EPA-EFE

It The administration was asked to rezone approximately 40 per cent (gross commercial floor area) of the city centre’s gross commercial floor space for mixed or residential uses in order to increase flexibility.

It To retain talent, the area must be lively.

If If the deal falls through, the government would normally use its financial resources in order to reclaim that site for future development or land sales.

The Developers also dismissed concerns about the delay of the development, if government adopts their suggestions. They said that public transport including railway services at Hung Shui Kiu It is connected to the border by a cross-border road Qianhai You can also find out more about the following: ShenzhenThe earliest that a. would be available is the 2030s.

It It was suggested that the government might consider rezoning several commercial plots to begin with, since the necessary town planning procedures could be completed in a matter of months.

The The latest land exchange program has closed its application. April Sites included in the second development phase and other plots Ha Tsuen Reserved for storage and logistics purposes. Nine Applications are received.

Upon When the area is fully developed, it will have about 66.700 flats that can accommodate 183.900 people and create around 150,000 jobs.

Sun Hung Kai Properties You can also find out more about the following: Henderson Land Development According to sources, these are the largest landowners of the district.

The The area is a part of the Northern Metropolis Megadevelopment, a project that aims to turn 30,000 hectares into an economic and housing hub near the city border with the mainland.

The Development Bureau “Replied to the” Post The northernmost region of Canada is home to the New Territories There was no modern, large business centre. Hung Shui Kiu It is a good idea to use “fill the gap” Promoting the local economic development.

“We should look to the future and not just current economic and investment conditions when we develop the Northern Metropolis,” “The spokeswoman said.”

“We believe we have sufficient time for negotiation. We have no intention to postpone the deadline as there are government project schedules to consider.”

The Bureau The government said that a number of factors would determine whether the two sides were able to reach an agreement regarding the land premium. It could not guarantee the outcome.

Surveyor Lau Chun-kong, managing director of Colliers Hong Kong”, he said Hung Shui Kiu The purpose of the project was to create jobs for residents in the New Territories When the plan was first introduced seven years ago.

Surveyor Lau Chun-kong, managing director of Colliers Hong Kong, said that the government should rethink if the need for a commercial center is necessary for the New Territories. Jonathan Wong

“From Hong Kong’s long-term development, we need to consider whether a commercial centre is needed in the New Territories,” Lau said.

He Also, the group urged the government review the arrangement for discussing land premiums. They cited the less than ideal performance of the last programme at Kwu Tung North-Fanling North New development area

The The programme was launched in February In 2022, nine applications were received. Developers The deadline for accepting the terms was last JuneThe deadline for submitting the application was extended from December. So At least seven applicants are no longer interested in the deal.

The The surveyor stated that the premium for land required by the government has not met the expectations of developers.

“The major problem lies in the insufficient time for price bargaining,” He said. “Also, developers are concerned about whether the infrastructure and facilities can be implemented on time to support their projects.”

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