Page 28 - LH_Research_Report_2020_Eng

S
Sites that involved rezoning by private developers take considerably ites that involved rezoning by private developers take considerably
longer to be developedonger to be developed
l

(Figure 13) Development cycle of Double Cove

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

Henderson Land Outline Zoning Plan Land premium Construction of Phase 1 Phase 2 Phase 3 Phases 4 and 5
acquired farmland in was approved by was settled Double Cove completed completed completed completed
Wu Kai Sha Town Planning Board commenced

(Figure 14) Development cycle of Wings IIIA and IIIB

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 the site for SHK Properties purchased the site for Construction of Wings IIIA and IIIB Wings IIIA and IIIB
Wings IIIA in public tender Wings IIIB in public tender commenced completed

Sources: Buildings Department, company data from Henderson Land Development and Sun Hung Kai Properties, and various newspapers

26
26