Cutting Red Tape to Catch up with Shortfalls in Land and Housing Supply

Total Page:16

File Type:pdf, Size:1020Kb

Load more

Cutting Red Tape to Catch Up with Shortfalls in Land and Housing Supply April 20, 2020 Part One: Private Housing Supply Housing supply faced a head-on crash and will have bumpy rides ahead Actual and projected completion of private residential units [1] 22,000 2018 estimate: Annual average completion during 2018 - 2022 20,800 units 20,000 2019 estimate: Annual average completion during 2019 - 2023 18,500 units 18,000 2020 estimate: Annual average completion during 2020 - 2024 16,000 16,000 units Number of units of Number 14,000 12,000 10,000 2016 2017 2018 2019 2020 2021 2022 2023 2024 Actual completion Projected completion Note: [1] Starter Homes units included. Sources: Rating and Valuation Department, and Our Hong Kong Foundation. 3 A high level of accuracy is evident in OHKF’s past forecasts Rating and Valuation Number of units Department’s OHKF’s estimate completed estimate 2016 14,595 18,200 17,700 2017 17,791 17,122 20,200 2018 20,968 18,130 20,800 2019 14,093 [1] 20,415 18,500 2020 - 20,850 17,000 Note: [1] 450 Starter Homes units included. Sources: Rating and Valuation Department, and Our Hong Kong Foundation. 4 A broad-based miss in 2019 completions Behind the miss in 2019 housing completion: Negative Domino effect on supply during 2020 - 2024 Industry-wide slowdown Delayed completions have been observed in both large and small projects, suggesting a general construction slowdown in the industry Examples of delay Mount Regency: 1,017 units 63 Pokfulam: 350 units Project delays may become more common if construction activities show no signs of L’Aquatique: 198 units picking up Sources: Company data from various developers, and Our Hong Kong Foundation. 5 Future completion unable to catch up with past shortfall Completion of private residential units [1] 1990 - 2006 2007 - 2012 2013 - 2019 40,000 Average: 26,000 units Average: 9,900 units Average: 14,700 units 35,000 2020 – 2024 30,000 Estimated Average: 25,000 16,000 units 20,000 18,00000 units Number of unitsof Number 15,000 10,000 5,000 - Note: [1] Starter Homes units included. Sources: Rating and Valuation Department, Buildings Department, Lands Department, Town Planning Board, company data from various developers, and Our Hong Kong Foundation. 6 A cumulative shortfall of 23,300 units in the past seven years Shortfall in the completion of private residential units, 2013 - 2019 [1] 20,000 Supply target as specified in 2017 LTHS: 18,000 units Cumulative shortfall: 23,300 units 2013-2019 Average: 14,700 units 15,000 (≈1.8x Taikoo Shing Estate) 10,000 Number of units 5,000 - 2013 2014 2015 2016 2017 2018 2019 Note: [1] Starter Homes units included. Sources: Rating and Valuation Department, Buildings Department, Lands Department, Town Planning Board, company data from various developers, and Our Hong Kong Foundation. 7 Manifestation of supply shortfall: Rising property prices and shrinking living space Private housing price index vs. per capita living space for private housing resident [1] 29 June 2018 210 Centa-City Leading Index (LHS) Per Capita Living Space for Private Housing (RHS) Chief Executive 220 Carrie Lam introduced six 22 February 2013 housing policies 190 Introduction of Double 19 May 2017 Stamp Duty; Mortgage tightening mortgage tightening 27 February 2015 27 October 2012 Mortgage tightening 170 Introduction of Buyer's 16 October 2019 215 Stamp Duty; further tightening on Special Mortgage relaxation for x Stamp Duty first-timers S 150 feet quare 10 June 2011 Mortgage tightening 130 19 November 2010 210 Introduction of Special 14 September, 2012 Stamp Duty; Mortgage tightening mortgage tightening Index (1997=100) Index 110 13 August 2010 x Mortgage tightening 90 23 October 2009 205 Mortgage tightening x 70 50 200 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Note: [1] Average living space is calculated as average unit size divided by average number of persons per unit. Sources: Centaline, Hong Kong Monetary Authority, Transport and Housing Bureau, Census and Statistics Department, and Our Hong Kong Foundation. 8 Spade-ready sites for private housing development did not recover from previous nosedive Spade-ready land supply for private housing 25,000 -53% from 20,000 the peak 15,000 10,000 Number Number of units 5,000 0 [1] 2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20 2020/21 Government land sale Railway projects URA projects Private development & redevelopment Note: [1] Figure for 2020/21 is based on Government’s forecast adjusted with the average shortfalls between supply forecast and actual land supply for 2013/14-2019/20, which is approximately 30%. Sources: Lands Department, Development Bureau, and Our Hong Kong Foundation. 9 Superstructure commencements went into a freefall Number of superstructure commencements vs. number of units completed two years later Year of completions 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 25,000 -44% 20,000 from the peak 15,000 Number Number of units 10,000 5,000 Completions (top axis) Notification of Commencement of General Building and Superstructure Works (bottom axis) - 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Year of superstructure commencements Source: Buildings Department. 10 Reduction in presale consents issued signalled fewer private homes available in the near future Total number of residential units with presale consent issued 25,000 20,000 -35% YoY 15,000 of units 10,000 Number 5,000 0 2013 2014 2015 2016 2017 2018 2019 Source: Lands Department. 11 Slowdown in supply is witnessed in every step of the development cycle Land acquisition Construction Property sale Estimated number of units on spade-ready sites in 2019/20: Completion 12,190 No. of superstructure commencements in 2019: -16% since 2018/19 12,690 -53% since 2017/18 No. of presale consents -44% since 2017 issued in 2019: 14,140 No. of units completed in Average development cycle [2] 2019: (from land acquisition to construction completion) -35% YoY A record low in 4 years 14,093 [1] 4.5 years ➔ 8 years -33% YoY (present) (by 2024) A record low in the past 4 years Notes: [1] 450 Starter Homes units included. [2] The average development cycle is calculated based on 268 housing projects that are to be completed in 2020 to 2024. Sources: Development Bureau, Rating and Valuation Department, Buildings Department, Lands Department, Centaline, and Our Hong Kong Foundation. 12 Sai Kung, Yuen Long and Kowloon City will be the top three districts in upcoming supply Private housing completion in 2020 - 2024 by district Sources: Rating and Valuation Department, Buildings Department, Lands Department, Town Planning Board, company data from various developers, and Our Hong Kong Foundation. 13 Rezoning and railway had been the two biggest land sources, but what is next? Land sources ranked by the highest completion contribution Before Now In another 5 years (2015 - 2019) (2020 - 2024) (2025 - 2029) 1 Rezoning (30%) 1 Railway (25%) 1 Rezoning The last resort …by the Government (21%) …by private developers (9%) Slow as usual 2 Redevelopment (28%) 2 Redevelopment (25%) 2 Redevelopment If there is no delay 3 Reclamation (18%) 3 New Town & NDA (20%) New Town & NDA Depleting quickly 4 Railway (16%) 4 Rezoning (20%) Railway …by the Government (19%) The only reclamation …by private developers (1%) ongoing is Tung Chung 5 New Town & NDA (8%) 5 Reclamation (10%) Reclamation New Town extension Sources: Lands Department, Development Bureau, and Our Hong Kong Foundation. 14 Railway land bank is depleting quickly Railway property development tenders that have been awarded or Property development packages will be awarded: awarded in the past 5 years Estimated number of Expected tender private housing units award date Kam Sheung Road 1,040 2024-2025 Package 2 Pat Heung Maintenance 6,060 Under review Centre Siu Ho Wan Depot 4,200 [1] Under review LOHAS Park Station ~2,500 2020-2021 Package 13 Wong Chuk Hang ~1,500 2020-2021 Packages 5 & 6 The remaining landbank of 15,300 units from the railway tenders cannot last for many years Notes: [1] There will be a total of 14,000 units for Siu Ho Wan Depot according to the latest planning proposal disclosed. Assuming a development approach of 30/70 split in units for private and public housing, Siu Ho Wan Depot might supply 4,200 units for private housing at a conservative estimate. Sources: Various newspapers, MTR Corporation, and Our Hong Kong Foundation. 15 Sites that involved rezoning by private developers take considerably longer to be developed Development cycle of Double Cove (23+ years) Housing yield: 152 units per year (3,500 units/23 years) Pre-construction stage (20 years) Construction stage (3-6 years) 1990s 1997 2009 2010 2013 2014 2015 2016 Outline Zoning Henderson Land Plan was approved Construction of acquired farmland in Land premium Phase 1 Phase 2 Phase 3 Phase 4 and by Town Planning Double Cove Wu Kai Sha was settled completed completed completed 5 completed Board commenced Development cycle of Wings IIIA and IIIB (5 years) Housing yield: 205 units per year (1,028 units/5 years) Pre-construction stage (1-2 years) Construction stage (3 years) 2011 2012 2013 2016 SHK Properties purchased SHK Properties purchased Construction of Wings IIIA and IIIB Wings IIIA and IIIB the site for Wings IIIA in the site for Wings IIIB in commenced completed public tender public tender Sources: Buildings Department, company data from Henderson Land Development and Sun Hung Kai Properties, and various newspapers. 16 Regulatory red tape is holding back housing development Why Have Housing Prices Gone Up? Edward L.
Recommended publications
  • Minutes Have Been Seen by the Administration)

    Minutes Have Been Seen by the Administration)

    立法會 Legislative Council LC Paper No. CB(1)2541/08-09 (These minutes have been seen by the Administration) Ref : CB1/PL/TP/1 Panel on Transport Minutes of meeting held on Friday, 24 April 2009, at 8:30 am in the Chamber of the Legislative Council Building Members present : Hon CHEUNG Hok-ming, SBS, JP (Chairman) Hon Andrew CHENG Kar-foo (Deputy Chairman) Ir Dr Hon Raymond HO Chung-tai, SBS, S.B.St.J., JP Hon LAU Kong-wah, JP Hon Miriam LAU Kin-yee, GBS, JP Hon Abraham SHEK Lai-him, SBS, JP Hon Tommy CHEUNG Yu-yan, SBS, JP Hon Albert CHAN Wai-yip Hon WONG Kwok-hing, MH Hon LEE Wing-tat Hon LEUNG Kwok-hung Hon Ronny TONG Ka-wah, SC Hon KAM Nai-wai, MH Hon WONG Sing-chi Hon IP Wai-ming, MH Hon Mrs Regina IP LAU Suk-yee, GBS, JP Members absent : Hon LI Fung-ying, BBS, JP Hon Jeffrey LAM Kin-fung, SBS, JP Public officers : Agenda item IV attending Ms Eva CHENG Secretary for Transport and Housing - 2 - Mr Philip YUNG Deputy Secretary for Transport and Housing (Transport) 1 Mr WAI Chi-sing Director of Highways Mr CHENG Ting-ning Project Manager/Hong Kong-Zhuhai-Macao Bridge Hong Kong Highways Department Agenda item V Mr YAU Shing-mu Under Secretary for Transport and Housing Mr Philip YUNG Deputy Secretary for Transport and Housing (Transport) 1 Mr CHOW Ying-shun Project Manager/Major Works Highways Department Mr WONG Chung-kwong Chief Engineer/Major Works Highways Department Mr LEE Yan-ming Chief Traffic Engineer/New Territories West Transport Department Mr Maurice YEUNG Kwok-leung Principal Environmental Protection Officer (Assessment & Noise)
  • Hong Kong in Brief

    Brand Hong Kong’s visual identity — a powerful and energetic dragon — was designed to communicate the city’s historic link with a mythical icon. The image incorporates the Chinese characters for 'Hong Kong' (香港) and the letters 'H' and 'K'. This dual expression symbolises the blend of East and West that characterises Hong Kong. The dragon's fluid shape imparts a sense of movement and speed, communicating that Hong Kong is forever changing. The brandline — ‘Asia's world city’ — highlights Hong Kong's multiple roles as an international business hub, a gateway to economic opportunities in the mainland of China and Asia, and a center for arts and culture. Contents ABOUT HONG KONG 4 Location Population Language Climate International Trading Centre Global Services Centre International Corporate Base Free Trade and Free Market Small Government Monetary System The Rule of Law Airport Hong Kong Port ECONOMIC COMPETITIVENESS 9 Economic Development Economic Policy International Financial Centre Economic Links with the Mainland LIVING IN HONG KONG 16 Government Structure Legal System Employment Education Health Housing Transport Pollution and Environmental Control Law and Order Tax System Mandatory Provident Fund The Media Telecommunications COMING TO HONG KONG 32 Tourism Immigration Leisure and Culture Traditional Festivals THE FUTURE OF HONG KONG 38 Asia’s Cyber City for the Cyber Century Infrastructure Projects for the 21st Century HONG KONG : THE FACTS 43 USEFUL CONTACTS 46 3 ABOUT HONG KONG About Hong Kong Hong Kong, described as a ‘barren rock’ some 150 years ago, is today a world-class financial, trading and business centre and, indeed, a great world city.
  • Saint Honore Cake Shop

    Saint Honore Cake Shop

    Saint Honore Cake Shop Address Telephone G/F, 11 Tung Sing Road, Aberdeen 2873 5881 Shop 402A, Chi Fu Landmark, Pok Fu Lam. 2538 0870 Shop E, G/F, Top View Mansion, 10 Canal Road West, Hong Kong 2575 5161 Ground Floor and Mezzanine Floor, No. 21 Sing Woo Road, Hong Kong 2572 3255 No. 15 Lan Fong Road, Ground Floor, Hong Kong 2752 7706 Shop No. 113b on Level 1 of New Jade Shopping Arcade, Chai Wan Inland Lot No. 120 2625 4831 Shop No. 22 on Ground Floor, Coronet Court, Nos. 321-333 King’s Road & Nos. 1, 3, 5, 7, 7A, 9 & 9A North 2505 7318 Point Road, Hong Kong Shop 113, 1/F, Oi Tung Shopping Ctr., Oi Tung Estate, Shaukeiwan 3156 1438 Shop D, G/F, Pier 3, 11 Man Kwong Street, Central, H.K. 2234 9744 Shop Unit 129, Paradise Mall, Hong Kong 2976 5261 Shop No.4 on Ground Floor and Air-Conditioning Plant Room on 1st Floor of Perfect Mount Gardens, No.1 2543 0138 Po Man Street, Hong Kong Shop No. 1, Ground Floor, V Heun Building, 138 Queen's Road Central, H.K. 2544 0544 Shop No. 2, G/F., East Commercial Block of South Horizons, No. 18A South Horizon Drive, Apleichau, Hong 2871 9155 Kong Shop No. 10, G/F., Fairview Height, 1 Seymour Road, Mid-Levels, Hong Kong 2546 8031 Shop No. 8, Shek Pai Wan Shopping Centre, Shek Pai Wan Estate, Southern, Hong Kong 2425 8979 Shop G3B, G/F, Amoy Plaza, Phase I, 77 Ngau Tau Kok Road, Ngau Tau Kok.
  • New Territories

    New Territories

    Branch ATM District Branch / ATM Address Voice Navigation ATM 1009 Kwai Chung Road, Kwai Chung, New Kwai Chung Road Branch P P Territories 7-11 Shek Yi Road, Sheung Kwai Chung, New Sheung Kwai Chung Branch P P P Territories 192-194 Hing Fong Road, Kwai Chung, New Ha Kwai Chung Branch P P P Territories Shop 102, G/F Commercial Centre No.1, Cheung Hong Estate Commercial Cheung Hong Estate, 12 Ching Hong Road, P P P P Centre Branch Tsing Yi, New Territories A18-20, G/F Kwai Chung Plaza, 7-11 Kwai Foo Kwai Chung Plaza Branch P P Road, Kwai Chung, New Territories Shop No. 114D, G/F, Cheung Fat Plaza, Cheung Fat Estate Branch P P P P Cheung Fat Estate, Tsing Yi, New Territories Shop 260-265, Metroplaza, 223 Hing Fong Metroplaza Branch P P Road, Kwai Chung, New Territories 40 Kwai Cheong Road, Kwai Chung, New Kwai Cheong Road Branch P P P P Territories Shop 115, Maritime Square, Tsing Yi Island, Maritime Square Branch P P New Territories Maritime Square Wealth Management Shop 309A-B, Level 3, Maritime Square, Tsing P P P Centre Yi, New Territories ATM No.1 at Open Space Opposite to Shop No.114, LG1, Multi-storey Commercial /Car Shek Yam Shopping Centre Park Accommodation(also known as Shek Yam Shopping Centre), Shek Yam Estate, 120 Lei Muk Road, Kwai Chung, New Territories. Shop No.202, 2/F, Cheung Hong Shopping Cheung Hong Estate Centre No.2, Cheung Hong Estate, 12 Ching P Hong Road, Tsing Yi, New Territories Shop No.
  • LCQ16: Tseung Kwan O Extension (Phase II) *****************************************

    LCQ16: Tseung Kwan O Extension (Phase II) *****************************************

    LCQ16: Tseung Kwan O Extension (Phase II) ***************************************** Following is a question by the Hon Chan Hak-kan and a written reply by the Secretary for Transport and Housing, Ms Eva Cheng, in the Legislative Council meeting today (June 2): Question: It has been approximately one year since the commissioning of the Tseung Kwan O Extension (Phase II) (TKOE II) of the MTR Corporation Limited (MTRCL) in July last year. Some Tseung Kwan O residents have relayed to me that although the residents have gradually got used to the "3+1" train service pattern (i.e. every one out of four trains will be running from North Point to LOHAS Park), they consider that the service has failed to meet the demand, particularly during peak hours when train compartments and platforms are very crowded. In this connection, will the Government inform this Council: (a) whether it knows the information as set out at the Annex about the relevant sections of the extension since the commissioning of TKOE II; (b) given that Po Lam Station is of a single-platform design, whether it knows if it is technically feasible for MTRCL to further increase the train frequencies of the Tseung Kwan O Extension, so as to alleviate the crowded conditions in train compartments and on platforms; if it is feasible, of the details, including the train frequencies after the increase and extra number of passengers to be carried; if it is not feasible, what other measures MTRCL has to deal with the situation; (c) whether it knows if MTRCL has plans to review the "3+1" train
  • Appendix II - Q Sai Kung District Summaries of Written/Oral Representations

    Appendix II - Q Sai Kung District Summaries of Written/Oral Representations

    Q. Sai Kung District - 279 - Q. Sai Kung District Appendix II - Q Sai Kung District Summaries of Written/Oral Representations Item No.* DCCAs Representations EAC’s Views No. W O 1 All 1 1 Propose to add the elements of The proposal made in the DCCAs Tseung Kwan O to the name of representations involves the Sai Kung DC and rename it alteration of administrative as “Sai Kung Tseung Kwan O district name and boundaries, District Council”. Reasons are which does not fall under the summarised as follows: purview of the EAC. The EAC has referred this view to there are five elected seats the Government for for Sai Kung and 24 consideration. elected seats for Tseung Kwan O in the Sai Kung DC. Consider that the change of name can better reflect the composition of the Sai Kung DC; following the development of Tseung Kwan O New Town, the existing number of elected seats and the size of population of Tseung Kwan O are far more than those of Sai Kung; and the Sai Kung DC Secretariat and Conference Room have also been relocated from Sai Kung Government Offices to Tseung Kwan O New Town. One representation also proposes to make Tseung Kwan O New Town an independent DC. * W: Number of written representations. O : Number of oral representations. Q. Sai Kung District - 280 - Q. Sai Kung District Item No.* DCCAs Representations EAC’s Views No. W O 2 All 1 - Holds no objection to the The view is noted. DCCAs provisional recommendations on all DCCAs of the Sai Kung District.
  • Annual Report 2020 Stock Code: 66

    Annual Report 2020 Stock Code: 66

    Keep Cities Moving Annual Report 2020 Stock code: 66 SUSTAINABLE CARING INNOVATIVE CONTENTS For over four decades, MTR has evolved to become one of the leaders in rail transit, connecting communities in Hong Kong, the Mainland of China and around the world with unsurpassed levels of service reliability, comfort and safety. In our Annual Report 2020, we look back at one of the most challenging years in our history, a time when our Company worked diligently in the midst of an unprecedented global pandemic to continue delivering high operational standards while safeguarding the well-being of our customers and colleagues – striving, as always, to keep cities moving. Despite the adverse circumstances, we were still able to achieve our objective of planning an exciting strategic direction. This report also introduces our Corporate Strategy, “Transforming the Future”, which outlines how innovation, technology and, most importantly, sustainability and robust environmental, social and governance practices will shape the future for MTR. In addition, we invite you Keep Cities to read our Sustainability Report 2020, which covers how relevant Moving and material sustainability issues are managed and integrated into our business strategies. We hope that together, these reports offer valuable insights into the events of the past year and the steps we plan on taking toward helping Hong Kong and other cities we serve realise a promising long-term future. Annual Report Sustainability 2020 Report 2020 Overview Business Review and Analysis 2 Corporate Strategy
  • How MTR Builds and Connects Communities in Hong Kong

    How MTR Builds and Connects Communities in Hong Kong

    How MTR Builds and Connects Communities in Hong Kong David Tang Property Director, MTR Corporation Hong Kong 21 June 2018 MTR Corporation 27/6/18 Page 1 Introduction MTR Corporation 27/6/18 Page 2 Where is Hong Kong? MTR’s projects outside of Hong Kong Operate & Maintain model Barcelona Hong Kong MTR Corporation 27/6/18 Page 3 About Hong Kong (Source: Wikimedia Commons, 2011) Land Area 1 104 km2 (43% Country Park) Built-up Area 265 km2 Population 7.39 million Car ownership 1 vehicles / 4 households Public Transit % 90% MTR Corporation 27/6/18 Page 4 About MTR Establishment of MTR Merger with (1975) KCR (2007) 1975 1980 1985 1990 1995 2000 2005 2010 2015 1st railway MTR was listed line opened in Market Cap (1979) Stock Exchange HK$265 of billion Hong Kong (31 May 2018) (2000) MTR Corporation 27/6/18 Page 5 Railway Serves as Backbone of Transport Land Uses % Within 500m of a Railway Station Housing Units 42% Commercial & 75% Office GFA (Source: Planning Department, 2013) MTR Corporation 27/6/18 Page 6 Life in Hong Kong Revolves Around Railway (5.8 million daily passenger trips) School Office Railway Railway Home Home BUS STOP Shopping Mall Public transport 90% Rail market share 49.1% Efficient train service at affordable fare Country Park No direct Government subsidy on rail MTR Corporation 27/6/18 Page 7 How is this possible ? MTR Corporation 27/6/18 Page 8 Planned by Government as a Connected City l Railway as the transport backbone l High density development along railway lines l Property development integrated with railway to support
  • Public Collection Points in Sai Kung District 西貢區的公眾回收點

    Public Collection Points in Sai Kung District 西貢區的公眾回收點

    Sai Kung (西貢) Shops (商舖) Address (地址) Shop 206, 2/F, Po Lam Shopping Centre, Po Lam Estate, Tseung Kwan 7-ELEVEN O 將軍澳寶林邨寶林商場2樓206號舖 AEON Stores (Hong Kong) Shop L2-021 - L2-066, Level 2, TKO Plaza, 1 Tong Tak Street, Tseung Co., Ltd. Kwan O 永旺(香港)百貨有限公司 將軍澳唐德街1號將軍澳廣場2樓 L2-021至 L2-066號舖 China Mobile Hong Kong Shop 202, 2/F East Point City, Tseung Kwan O 中國移動香港 將軍澳東港城2樓202號舖 Shop UG014, UG/F, MCP Central, 8 Yan King Road, Po Lam, Tseung China Mobile Hong Kong Kwan O 中國移動香港 將軍澳寶琳欣景路8號新都城中心二期高層地下UG014號舖 Shop UG011-013, UG/F, MCP Central, 8 Yan King Road, Po Lam, FORTRESS Tseung Kwan O 豐澤 將軍澳寶琳欣景路8號新都城中心二期高層地下UG011-013號舖 Shop G19, G/F, MCP Central, 8 Yan King Road, Po Lam, Tseung Kwan GREEN @ PO LAM O 綠在寶琳 將軍澳寶琳欣景路8號新都城中心二期G19舖 Shop Unit 431A, Level 4, The LOHAS, NO.1 LOHAS Park Road, Tseung McDonald's Kwan O 麥當勞 將軍澳康城路1號The LOHAS 康城4樓431A號舖 LG5 Restaurant, Academic Building, HK University of Science & McDonald's Technology, Clear Water Bay 麥當勞 清水灣香港科技大學學術樓LG5餐廳 McDonald's Shop 1, G/F, Verbena Heights, 8 Mau Tai Road, Tseung Kwan O 麥當勞 將軍澳貿泰路8號茵怡花園地下1號舖 Shops (商舖) Address (地址) Shop 1017, Level 1, MCP Central, 8 Yan King Road, Po Lam, Tseung McDonald's Kwan O 麥當勞 將軍澳寶琳欣景路8號新都城中心二期1樓1017號舖 Shop L2-018 - L2-020, Level 2, TKO Plaza, 1 Tong Tak Street, Tseung McDonald's Kwan O 麥當勞 將軍澳唐德街1號將軍澳廣場2樓 L2-018至 L2-020號舖 Shop No. 103, G/F, Po Lam Shopping Centre, Po Lam Estate, Tseung McDonald's Kwan O 麥當勞 將軍澳寶林邨寶林商場地下103號舖 McDonald's Shop No. 126, Tsui Lam Square, Tsui Lam Estate, Tseung Kwan O 麥當勞 將軍澳翠林邨翠林新城126號舖 McDonald's Shop No.
  • Transit Oriented Development and Value Capture – Hong Kong

    Transit Oriented Development and Value Capture – Hong Kong

    UNESCAP Regional Expert Group Meeting on Sustainable and Inclusive Transport Development and 2nd Asia BRTS Conference, 29 Sep –1 Oct 2014, Ahmedabad Transit Oriented Development and Value Capture –Hong Kong Dr. Wing‐tat HUNG Associate Professor Department of Civil and Environmental Engineering The Hong Kong Polytechnic University 1 • 218 km • 84 MTR stations • 68 Light rail stations • 4.5 million passenger daily (40% of total public transport patronage) Source: Hong Kong Railway Development Strategy 2014 2 The Hong Kong Polytechnic University TOD ‐ Railway Development Strategy 2014 3 The Hong Kong Polytechnic University Proposed New Lines/ extensions up to 2031 2013 estimates (USD, billion) Northern Link and Kwu Tung Station 2.97 Tuen Mun South Extension 0.71 East Kowloon Line 3.55 Tung Chung West Extension 0.77 Hung Shui Kiu Station 0.39 South Island Line (West) 3.23 North Island Line 2.58 TOTAL 14.19 4 The Hong Kong Polytechnic University Transit Oriented Developments District centre “TOD” functions With High density private housing District road District open space and Traffic free high District centre low density land use density mixed housing functions With High density private housing 500m walk-in zone to station “3D” Principles: High Development Density Intensive and efficient land use within the station walk-in catchment area Land Use Diversity Enhance the life and vibrancy of the community High-Quality Community Design Seamless connection and interchange, segregation of pedestrian and vehicular traffic, Local road with greening
  • MTR Corporation

    MTR Corporation

    MTR Corporation Company Overview November 2020 to December 2020 Forward-looking statements Certain statements contained in this presentation may be viewed as forward-looking statements. Such forward- looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual performance, financial condition or results of operations of the Company to be materially different from any future performance, financial condition or results of operations implied by such forward-looking statements. Page 2 COVID-19 update (Recurrent businesses) For 1H2020, the estimated total financial impact of the COVID-19 outbreak on recurrent profit was ~HK$5 billion, mainly due to: • Lower patronage • Rental concession to tenants at station kiosks and shopping malls since February • Lower advertising revenue • Negative financial impact on Mainland China & International businesses Since July 2020 • Domestic Services average weekday patronage declined in July (-33.0% YoY) and August (-38.6% YoY), after the 3rd wave of COVID-19 outbreak. The decline has narrowed in September (-22.8% YoY) and October (-3.4% YoY), due to the gradual recovery and low base in 2019 • Revenue loss during station closures (mainly cross-boundary stations) • Rental concession remains, on case-by-case basis. • Advertising activities remained weak • Mainland China businesses continue to improve, following the re-opening in most cities. • Overseas operations remain negatively affected, given the global outbreak. Page 3 COVID-19 update (Transport operations) • The decline widened again after the 3rd wave of COVID- Overall Patronage (‘000) 19 outbreak, with renewed work-from-home 20% 6,000 5.1% 1.7% 1.8% 2.6% 2.3% 1.3% -1.3% 10% arrangement, tightened social distancing and school 5,000 -5.4% -7.9% 0% -16.0% 4,000 -17.5% (10%) -6.7%-23.8% suspension.
  • SKDC(M) Paper No

    SKDC(M) Paper No

    Gist of Meeting of Sai Kung District Council Social Services & Healthy and Safe City Committee The first meeting (2015) of the Sai Kung District Council (SKDC) Social Services & Healthy and Safe City Committee (SSHSCC) was held on 20 January 2015. The major issues discussed at the meeting were summarized as follows: Voluntary Health Insurance Scheme and Regulation of Private Healthcare Facilities 2. The representative of the Food and Health Bureau (FHB) introduced to the SSHSCC the Voluntary Health Insurance Scheme and Regulation of Private Healthcare Facilities and listened to the views of Members. Request the MTR Corporation Limited to provide suitable rain shade at the footbridge linking to LOHAS Park Station to shade pedestrians from the sun, rain and wind for the health and safety of the weak 3. The representative of the MTR Corporation Limited (MTRC) gave their response on this motion and listened to the views of Members. After discussion, the motion was unanimously endorsed. Request the MTR Corporation Limited to look into upgrading the ticket vending machines at all MTR stations comprehensively 4. The representative of the MTRC gave their response on this motion and listened to the views of Members. After discussion, the motion was unanimously endorsed. Request the relevant government departments to report on the progress regarding the construction of the Fire Services Training School at Pak Shing Kok and to provide a schedule 5. The representative of the Fire Services Department (FSD) gave their response on this motion and listened to the views of Members. After discussion, the motion was unanimously endorsed. The SKDC pushes forward with Sai Kung District applying to the World Health Organization to become part of the Age-Friendly Cities network this year 6.