China Hk Quarterly Construction Cost Review 3rd Quarter 2010 | Apartment

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  HONG KONGThird Quarter 2010 QUARTERLY CONSTRUCTION COST REVIEW  Davis Langdon & Seah’s ReputationRecognised as one of the world’s leading multidisciplinary construction and property consultancies, we focus on clients’ needs when investing in property and construction.  Content 1. Focus on Housing Policy in the Chief Executive’s Policy Address 2010-112. Approximate Building Costs in Hong Kong3. General Trend of Building Works Tender Prices in Hong Kong 4. Labour Index & Average Daily Wage of Workers Engaged in Public Sector Construction Projects5. Materials Indices & Average Material Prices 6. Usable Floor Areas Completed / With Consent to Commence 7. Gross Value of Construction Work Performed 8. Approximate Building Costs for Major Cities in Asia Statistical data are compiled from sources deemed reliable but accuracy is not guaranteed. All rights reserved. Reproduction of this data, in whole or in part, is permitted providing the source is quoted.  QUARTERLY CONSTRUCTION COST REVIEWTHIRD QUARTER 2010 1 1 Focus on Housing Policy in the Chief Executive’s Policy Address 2010-11 This year’s Policy Address by the Chief Executive provoked heated debate regarding proposals aimed at addressing the public’s concern on housing problems. Issues included the infamous “Wall Effect” and “Inated Buildings” (the practice of using the GFA concession on green and amenity features to substantially increase the publicized oor areas in developments). T he key points covered in the Policy  Address were later supplemented with further details by the Legislative Council Brief prepared by the Secretary for Development. It is noted that whilst launching these measures, the Government has also included elements of sustainable building design (SBD) – a “two birds with one stone” approach. Much of the implementation details are still to be claried and the nal measures might eventually differ somewhat from our present interpretation, as set out below: Sustainable Building Design (SBD) The concept of Sustainable Building Design (SBD) has been established for the following issues, with fairly clear guidelines provided for: ã Building separation and permeabilityã Building setbackã Site coverage of greenery SBD FeaturesGuidelines Building Separation and PermeabilityPermeability of 20%-33.3% for ã site area ≥ 20,000m2 OR ã Continuous facade length ≥ 60m Building Setback  ã Applicable to streets ≤ 15m wideã Minimum cross-section area of street canyon : 7.5m wide x 15m high Site Coverage of GreeneryMinimum provision*: ã Site ≥ 1,000m2 : 20%ã Site ≥ 20,000m2: 30% * Excluding greenery covered by roofed over area The application of these guidelines is not mandatory, but do form one of the prerequisites for certain Gross Floor Area (GFA) exemptions in the Policy Address. GFA Concession To address the community’s concern on “Inated Buildings”, the existing GFA concessions for building developments have been reviewed and an overall cap of 10% to the building bulk has been imposed for green and amenity features. GFA Concession FeaturesRevised / New CriteriaGreen features (A) ã Balconies ã Utility platforms ã Wider common corridors & lift lobbies ã Non-structural prefabricated external wallsã Wing walls, wind catches and funnels ã Noise barriers ã Acoustic ns50% grantable (existing: 100%)50% grantable (existing: 100%)Only for those with natural ventilation 150mm thick max. (existing : 300mm thick max.)(No change)(No change)(No change) Amenity features (B) ã Residential recreational facilities (e.g. clubhouse)ã Covered walkway/trellisã Mail rooms ã Larger lift shaft areas ã Voids over main entrance ã Pipe/air ductsã Non-mandatory plant rooms (e.g. A/C plant)2.5% max. – 5% max. (existing: 5% max.)(No change)Not grantable (existing: 100%)(No change) Not grantable in domestic developments (existing: 100% to all development types)(No change)(No change) Overall Concession for (A) and (B) ã Prerequisites ã Cap ã SBD compliance ã BEAM-Plus Assessment ã Energy efciency dataã Overall 10% (existing: 8% on selected green features) Current GFA concessions have been kept unchanged for features that are mandatory, of practical need or benecial to the community.  Big changes, however, have been introduced in respect of car parks and loading/unloading areas
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