,Hong Kong

Costs of completed buildings totalled $2.4b in July

Another 110,548 sqm of new buildings will be added to the supply pipeline.

The declared cost of the new buildings completed in July totalled about $2.4b, according to the Hong Kong Buildings Department.

Twenty-one building plans were also approved in the same month. Five are located in Hong Kong Island, seven in Kowloon and nine in the New Territories.

Of the 21, nine are mixed-use developments, seven are commercial purposes, four are factory and industrial developments, and one is for community services.

Consent was also given for work to start on 16 building projects. When completed, these would collectively provide 110,548 sqm of gross floor area (GFA) for domestic use spread across 554 units, as well as 683,699 sqm of gross floor area for non-domestic use.

Additionally, the department reported that eight building projects has commenced superstructure works.

The department also issued 18 occupation permits: five on Hong Kong Island, eight in Kowloon and five in the New Territories. The total GFA for domestic use is 19,648 sqm spread across 526 units; whilst 37,343 sqm was designated for non-domestic use.

Fourteen demolition consents were also reported.

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