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Pilot scheme for charging land premiums at standard rates

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On 4 March, the Development Bureau and Lands Department announced the framework of a pilot scheme for charging land premiums at standard rates. The pilot scheme is applicable to industrial buildings and should give investors and developers greater visibility and cost-certainty on land premium calculations. It will also simplify the process of lease modification, increasing the volume of asset conversions into alternative, and more appropriate uses that will benefit Hong Kong’s societal needs.

Read our latest paper that looks at the new pilot scheme and discusses market implications and provides financial scenarios of how it could benefit investors and developers, when applied.

 

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Pilot scheme for charging land premiums at standard rates

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Related Experts

Hannah Jeong

Head of Valuation & Advisory Services

Valuation & Advisory Services

Hong Kong

Hannah Jeong has extensive valuation & advisory services experience over 15 years including property investment and development projects specialising in valuation, development consultancy, financial analysis and feasibility studies. Project’s geographic coverage span across Asia Pacific and Middle East, in particular Hong Kong, China and Korea. She has started her career with Colliers since 2006 and is now heading our Valuation and Advisory Services - Hong Kong Office with over 40 professionals.

Hannah has strong client coverage on major financial institutions including global real estate funds and private equity firms.

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CK Lau

Managing Director | Asia

Valuation & Advisory Services

Hong Kong

CK Lau is the Managing Director of Colliers International responsible for valuation and advisory services in the Asian region.  He has over 30 years’ property experience in valuation, real estate consultancy and investment sales market in Hong Kong, the PRC and the Asian region. 

His expertise includes development consultancy; government lease modification application and premium negotiations; investment and development sites sales; litigation valuation advice and expert witness in the High Court/Lands Tribunal/arbitration; portfolio valuations; REIT property advice; rental determination; and valuation due diligence services.

He writes regularly on topics relating to land use and development in Hong Kong since 2010. His collection of over 200 articles in the Hong Kong Economic Journal and other publications can be viewed through the following link:

https://lauchunkong.wordpress.com

CK also participated as a member in the following publications:

• “The HKIS Valuation Standards 2017 & 2020”

• “HKIS Guidance Notes on Valuation of Development Land” published in 2016

• “Surveyors acting as experts in commercial rent determinations” Joint guidance note Hong Kong prepared by the HKIS and RICS Hong Kong” 1st edition 2015

 

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Jason Kwong

Director | Asia

Valuation & Advisory Services

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Mr Kwong is a qualified general practice surveyor since 2010.  He has over 9 years’ experience specializing in valuation, land matters and property development.

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