1、Electronic Cost HandbookYou can access a soft copy of the Construction Cost Handbook by:1.Download the PDF version from our website to your mobile or tablet device.Go to Click Research and Publications on the homepage Scroll down and click Download the Handbooks Scroll down to 2019 China and Hong Ko
2、ng Click the Download Now button to access2.For mobiles and tablets,scan the QR code below to directly access the PDF file.Handbook Cover Photos:-1.The MixC,Heifei,PRC2.HKSAR Government Data Centre,Cheung Sha Wan3.Foshan Lingnan Tiandi Subsequent Development Projects,PRC4.East Kowloon Cultural Centr
3、e,Kowloon Bay,Hong Kong5.Grand Lisboa Palace,Cotai,Macau13452The following handbook of information relating to theconstruction industry has been compiled by:Arcadis Hong Kong Limited17/F,Two Harbour Square,180 Wai Yip Street Kwun Tong,Kowloon Hong Kong Telephone:(852)2911 2000Fax:(852)2911 2002Email
4、:info-Website: Arcadis Hong Kong Limited 2019 All rights reserved.No part of this publication may be re-produced or copied in any form without prior written permission from Arcadis Hong Kong Limited.The information contained herein should be regarded as indicative and for general guidance only.Whils
5、t every effort has been made to ensure accuracy,no responsibility can be accepted for errors and omissions,however caused.If advice concerning individual projects is required,we would be happy to assist.Unless otherwise stated,costs reflected in this handbook are Hong Kong costs at 4th Quarter 2018.
6、Arcadis Hong Kong Limited would like to acknowledge the assistance of Knight Frank and Baker McKenzie FenXun in providing additional data and information for this publication.ISO 9001:2015Certificate No.:FS684805ISO 14001:2015Certificate No.:EMS685471OHSAS 18001:2007Certificate No.:OHS6854711 TABLE
7、OF CONTENTS Table of Contents 1Calendars 3About Us 51.CONSTRUCTION COST DATA Construction Costs for Hong Kong 9M&E Costs for Hong Kong 11ACMV Costs for Various Designs and Developments in Hong Kong 13Fit-out Costs for Hong Kong 15Unit Costs for Ancillary Facilities for Hong Kong 17Construction Costs
8、 for Selected Asian Cities 19M&E Costs for Selected Asian Cities 25Major Rates for Selected Asian Cities 31Construction Cost Specification 372.GENERAL CONSTRUCTION DATA2019 Outlook 43Building Cost Trends in Hong Kong 49Labour Index in Hong Kong 52Labour Wages in Hong Kong 53Material Prices in Hong K
9、ong 55Construction Workdone Forecast 58Estimating Rules of Thumb and Design Norms 59Construction Activity in Hong Kong 65Construction Value in Hong Kong 66Hong Kong General Construction Insurance 67Specified Forms for Buildings Ordinance or Regulations for Hong Kong 69Summary of Building Regulations
10、 for Hong Kong 73Percentage Site Coverage and Plot Ratios for Hong Kong 74Evolving Regulations for Green Building in China 77Procurement Strategies and Form of Contracts 83TABLE OF CONTENTS23.PROPERTYProperty Commentary 89Property Indicators 95Gross Floor Area(GFA)Calculations in Hong Kong 97Gross F
11、loor Area(GFA)Calculations in PRC 99Construction Floor Area(CFA)Definition 1014.FINANCIALFinancial Definitions 103 Financial Formulae 104Mortgage Repayment Table 105Composite CPI 106Prime Rates 107Exchange Rates 109Currency Charts 111Hang Seng Index 1145.OTHER INFORMATIONUtility Costs for Selected A
12、sian Cities 117Key City Indicators 121Conversion Factors 123IDD Codes and Time Differences 125Public Holidays 127Arcadis Asia Leadership Team 135Arcadis Asia Services 137Directory of Offices 139Health&Safety Management System 154Quality Management System 155Environmental Management System 156Telepho
13、ne Directory 157TABLE OF CONTENTS3 CALENDARS 2 0 1 92 0 1 8 2018 JANUARY FEBRUARY MARCH S M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 6 1 2 3 1 2 3 7 8 9 10 11 12 13 4 5 6 7 8 9 10 4 5 6 7 8 9 10 14 15 16 17 18 19 20 11 12 13 14 15 16 17 11 12 13 14 15 16 17 21 22 23 24 25 26 27 18 19 20 21 22
14、 23 24 18 19 20 21 22 23 2428 29 30 31 25 26 27 28 25 26 27 28 29 30 31 APRIL MAY JUNE S M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 6 7 1 2 3 4 5 1 2 8 9 10 11 12 13 14 6 7 8 9 10 11 12 3 4 5 6 7 8 9 15 16 17 18 19 20 21 13 14 15 16 17 18 19 10 11 12 13 14 15 16 22 23 24 25 26 27 28 20 21 22
15、23 24 25 26 17 18 19 20 21 22 23 29 30 27 28 29 30 31 24 25 26 27 28 29 30 JULY AUGUST SEPTEMBER S M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 6 7 1 2 3 4 1 8 9 10 11 12 13 14 5 6 7 8 9 10 11 2 3 4 5 6 7 8 15 16 17 18 19 20 21 12 13 14 15 16 17 18 9 10 11 12 13 14 15 22 23 24 25 26 27 28 19 20
16、 21 22 23 24 25 16 17 18 19 20 21 2229 30 31 26 27 28 29 30 31 23/30 24 25 26 27 28 29 OCTOBER NOVEMBER DECEMBER S M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 6 1 2 3 1 7 8 9 10 11 12 13 4 5 6 7 8 9 10 2 3 4 5 6 7 8 14 15 16 17 18 19 20 11 12 13 14 15 16 17 9 10 11 12 13 14 15 21 22 23 24 25 2
17、6 27 18 19 20 21 22 23 24 16 17 18 19 20 21 2228 29 30 31 25 26 27 28 29 30 23 24 25 26 27 28 29 30 31 2019 JANUARY FEBRUARY MARCH S M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 1 2 1 2 6 7 8 9 10 11 12 3 4 5 6 7 8 9 3 4 5 6 7 8 9 13 14 15 16 17 18 19 10 11 12 13 14 15 16 10 11 12 13 14 15 1620
18、 21 22 23 24 25 26 17 18 19 20 21 22 23 17 18 19 20 21 22 23 27 28 29 30 31 24 25 26 27 28 24/31 25 26 27 28 29 30 APRIL MAY JUNE S M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 6 1 2 3 4 1 7 8 9 10 11 12 13 5 6 7 8 9 10 11 2 3 4 5 6 7 8 14 15 16 17 18 19 20 12 13 14 15 16 17 18 9 10 11 12 13 14
19、 15 21 22 23 24 25 26 27 19 20 21 22 23 24 25 16 17 18 19 20 21 22 28 29 30 26 27 28 29 30 31 23/30 24 25 26 27 28 29 JULY AUGUST SEPTEMBER S M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 6 1 2 3 1 2 3 4 5 6 7 7 8 9 10 11 12 13 4 5 6 7 8 9 10 8 9 10 11 12 13 14 14 15 16 17 18 19 20 11 12 13 14 1
20、5 16 17 15 16 17 18 19 20 21 21 22 23 24 25 26 27 18 19 20 21 22 23 24 22 23 24 25 26 27 28 28 29 30 31 25 26 27 28 29 30 31 29 30 OCTOBER NOVEMBER DECEMBER S M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 1 2 1 2 3 4 5 6 7 6 7 8 9 10 11 12 3 4 5 6 7 8 9 8 9 10 11 12 13 1413 14 15 16 17 18 19 10
21、11 12 13 14 15 16 15 16 17 18 19 20 2120 21 22 23 24 25 26 17 18 19 20 21 22 23 22 23 24 25 26 27 2827 28 29 30 31 24 25 26 27 28 29 30 29 30 31CALENDARS42 0 2 12 0 20 2020 JANUARY FEBRUARY MARCH S M T W T F S S M T W T F S S M T W T F S 1 2 3 4 1 1 2 3 4 5 6 7 5 6 7 8 9 10 11 2 3 4 5 6 7 8 8 9 10 1
22、1 12 13 1412 13 14 15 16 17 18 9 10 11 12 13 14 15 15 16 17 18 19 20 2119 20 21 22 23 24 25 16 17 18 19 20 21 22 22 23 24 25 26 27 2826 27 28 29 30 31 23 24 25 26 27 28 29 29 30 31 APRIL MAY JUNE S M T W T F S S M T W T F S S M T W T F S 1 2 3 4 1 2 1 2 3 4 5 6 5 6 7 8 9 10 11 3 4 5 6 7 8 9 7 8 9 10
23、 11 12 1312 13 14 15 16 17 18 10 11 12 13 14 15 16 14 15 16 17 18 19 2019 20 21 22 23 24 25 17 18 19 20 21 22 23 21 22 23 24 25 26 2726 27 28 29 30 24/31 25 26 27 28 29 30 28 29 30 JULY AUGUST SEPTEMBER S M T W T F S S M T W T F S S M T W T F S 1 2 3 4 1 1 2 3 4 5 5 6 7 8 9 10 11 2 3 4 5 6 7 8 6 7 8
24、 9 10 11 1212 13 14 15 16 17 18 9 10 11 12 13 14 15 13 14 15 16 17 18 1919 20 21 22 23 24 25 16 17 18 19 20 21 22 20 21 22 23 24 25 2626 27 28 29 30 31 23 24 25 26 27 28 29 27 28 29 30 30 31 OCTOBER NOVEMBER DECEMBER S M T W T F S S M T W T F S S M T W T F S 1 2 3 1 2 3 4 5 6 7 1 2 3 4 5 4 5 6 7 8 9
25、 10 8 9 10 11 12 13 14 6 7 8 9 10 11 1211 12 13 14 15 16 17 15 16 17 18 19 20 21 13 14 15 16 17 18 1918 19 20 21 22 23 24 22 23 24 25 26 27 28 20 21 22 23 24 25 2625 26 27 28 29 30 31 29 30 27 28 29 30 31 2021 JANUARY FEBRUARY MARCH S M T W T F S S M T W T F S S M T W T F S 1 2 1 2 3 4 5 6 1 2 3 4 5
26、 6 3 4 5 6 7 8 9 7 8 9 10 11 12 13 7 8 9 10 11 12 1310 11 12 13 14 15 16 14 15 16 17 18 19 20 14 15 16 17 18 19 2017 18 19 20 21 22 23 21 22 23 24 25 26 27 21 22 23 24 25 26 27 24/31 25 26 27 28 29 30 28 28 29 30 31 APRIL MAY JUNE S M T W T F S S M T W T F S S M T W T F S 1 2 3 1 1 1 2 3 4 5 4 5 6 7
27、 8 9 10 2 3 4 5 6 7 8 6 7 8 9 10 11 12 11 12 13 14 15 16 17 9 10 11 12 13 14 15 13 14 15 16 17 18 19 18 19 20 21 22 23 24 16 17 18 19 20 21 22 20 21 22 23 24 25 2625 26 27 28 29 30 23 24 25 26 27 28 29 27 28 29 30 30 31 JULY AUGUST SEPTEMBER S M T W T F S S M T W T F S S M T W T F S 1 2 3 1 2 3 4 5
28、6 7 1 2 3 4 4 5 6 7 8 9 10 8 9 10 11 12 13 14 5 6 7 8 9 10 1111 12 13 14 15 16 17 15 16 17 18 19 20 21 12 13 14 15 16 17 18 18 19 20 21 22 23 24 22 23 24 25 26 27 28 19 20 21 22 23 24 2525 26 27 28 29 30 31 29 30 31 26 27 28 29 30 OCTOBER NOVEMBER DECEMBER S M T W T F S S M T W T F S S M T W T F S 1
29、 2 1 2 3 4 5 6 1 2 3 4 3 4 5 6 7 8 9 7 8 9 10 11 12 13 5 6 7 8 9 10 11 10 11 12 13 14 15 16 14 15 16 17 18 19 20 12 13 14 15 16 17 18 17 18 19 20 21 22 23 21 22 23 24 25 26 27 19 20 21 22 23 24 2524/31 25 26 27 28 29 30 28 29 30 26 27 28 29 30 31 CALENDARS5 ARCADIS HONG KONG LIMITEDARCADIS HONG KONG
30、 LIMITED ABOUT USArcadis is the leading global Design&Consultancy for natural and built assets.Applying our deep market sector insights and collective design,consultancy,engineering and project management services we work in partnership with our clients to deliver exceptional and sustainable outcome
31、s throughout the lifecycle of their natural and built assets.In Asia,we have over 4,000 people covering the multiple market across all sectors focused on improving quality of life.Arcadis has a long history of leading expertise in providing Cost Management capabilities that ensure our clients projec
32、ts are delivered with a competitive advantage,exceed project requirements and deliver sustainable outcomes.Our Cost Management heritage is particularly strong in Greater China having set-up our first office in Hong Kong back in 1949.We entered the Mainland China market in 1984,introducing modern Cos
33、t Management techniques to its newly evolving construction market.Our initial commissions were from Hong Kong and foreign developers investing in China,however since then our client base has grown to include state-owned enterprises and local developers.We are committed to further extending our profe
34、ssional expertise to include new areas like whole-life costing,and supporting the growing number of clients in Asia who are looking for high quality Cost Management solutions as they embark on projects in other parts of the world.Furthermore,we have aligned our operating models to facilitate innovat
35、ion,ease knowledge transfer and enable the sharing of best practices.We work to ensure clients have access to our best resources,delivering the most appropriate solutions,at a cost that meets their requirements.6ARCADIS HONG KONG LIMITED OUR CORE VALUESPeople FirstWe care for each other and create a
36、 safe and respectful working environment where our people can grow,perform,and succeed.IntegrityWe always work to the highest professional and ethical standards and establish trust by being open,honest and responsible.Client SuccessWe are passionate about our clients success and bring insights,agili
37、ty,and innovation to co-create value.CollaborationWe value the power of diversity and our global capabilities and deliver excellence by working as One Arcadis.SustainabilityWe base our actions for clients and communities on environmental responsibility and social and economic advancement.CONSTRUCTIO
38、N COST DATA1Construction Costs for Hong KongM&E Costs for Hong Kong ACMV Costs for Various Designs and Developments in Hong Kong Fit-out Costs for Hong KongUnit Costs for Ancillary Facilities for Hong Kong Construction Costs for Selected AsianCitiesM&E Costs for Selected Asian Cities Major Rates for
39、 Selected Asian CitiesConstruction Cost SpecificationCONSTRUCTION COST DATA 19 CONSTRUCTION COST DATACONSTRUCTION COSTS FOR HONG KONGBUILDING TYPEHK$/m2 CFABUILDING SERVICES TOTALDOMESTICApartments,high rise,public authority standard 9,050 -11,150 1,950 -2,350 11,000 -13,500Apartments,high rise,aver
40、age standard 19,900 -22,150 4,000 -5,750 23,900 -27,900Apartments,high rise,high end 26,350 -29,850 5,050 -6,850 31,400 -36,700Terraced houses,average standard 28,650 -33,200 3,650 -4,800 32,300 -38,000Detached houses,high end 42,000 up 6,000 up 48,000 upOFFICE/COMMERCIALMedium/high rise offices,ave
41、rage standard 17,800 -20,350 5,600 -7,050 23,400 -27,400High rise offices,prestige quality 22,150 -25,350 6,250 -7,950 28,400 -33,300Out-of-town shopping centre,average standard 17,100 -20,750 6,100 -6,950 23,200 -27,700Retail malls,high end 24,550 -29,100 6,350 -7,800 30,900 -36,900CONSTRUCTION COS
42、TS FOR HONG KONGCONSTRUCTION COST DATA10The above costs are at 4th Quarter 2018 levels.HOTELSBudget hotels-3-star,mid market 22,850 -23,800 7,150 -8,700 30,000 -32,500Business hotels-4/5-star 23,550 -26,950 7,850 -9,950 31,400 -36,900Luxury hotels-5-star 29,050 -32,750 7,850 -9,950 36,900 -42,700IND
43、USTRIALOwner operated factories,low rise,light weight industry 15,970 -20,030 2,230-3,070 18,200 -23,100OTHERSUnderground/basement car parks(3 levels)22,350 -26,250 2,650 -3,750 25,000-30,000Multi storey car parks,above ground(4 levels)13,000 -14,650 2,000 -3,150 15,000 -17,800Schools(primary and se
44、condary)16,800 -17,400 2,900 -3,800 19,700 -21,200Students residences 18,150 -19,800 4,750 -6,100 22,900 -25,900Sports clubs,multi purpose sports/leisure centres(dry sports)with a/c and including FF&E 23,700 -26,900 6,200 -7,900 29,900 -34,800General hospitals-public sector 29,900 -32,600 8,800 -11,
45、000 38,700 -43,600CONSTRUCTION COST DATA 111 CONSTRUCTION COST DATAM&E COSTS FOR HONG KONGBUILDING TYPEHK$/m2 CFA MECHANICAL SERVICES ELECTRICAL SERVICESFIRE SERVICES LIFTS/ESCALATORSHYDRAULIC SERVICESTOTALSERVICESDOMESTICApartments,high rise,public authority standard-600 -700 150 -200 300-350 900 -
46、1,100 1,950 -2,350Apartments,high rise,average standard 850 -1,000 1,100 -1,400 200 -600 450-750 1,400 -2,000 4,000-5,750Apartments,high rise,high end 1,300 -1,600 1,300 -1,600 200-600 550-850 1,700-2,200 5,050-6,850Terraced houses,average standard 1,050 -1,400 1,100 -1,400 100-200-1,400 -1,800 3,65
47、0-4,800Detached houses,high end 2,000 up 2,100 up 100 up-1,800 up 6,000 upOFFICE/COMMERCIALMedium/high rise offices,average standard 1,900 -2,300 1,750 -2,200 550-700 700-950 700 -900 5,600 -7,050High rise offices,prestige quality 2,100 -2,700 2,050 -2,450 550 -700 850-1,200 700 -900 6,250 -7,950Out
48、-of-town shopping centre,average standard 2,200 -2,400 1,800 -2,000 550 -700 850-950 700 -900 6,100 -6,950Retail malls,high end 2,200 -2,750 2,050 -2,450 550 -700 850-1,000 700 -900 6,350 -7,800M&E COSTS FOR HONG KONGCONSTRUCTION COST DATA12The above costs are at 4th Quarter 2018 levels.HOTELSBudget
49、 hotels-3-star,mid market 2,100 -2,400 1,900 -2,200 600 -850 550 -750 2,000 -2,500 7,150 -8,700Business hotels-4/5-star 2,200 -2,650 2,200 -2,600 600-850 550 -850 2,300 -3,000 7,850 -9,950Luxury hotels-5-star 2,200 -2,650 2,200 -2,600 600 -850 550 -850 2,300 -3,000 7,850 -9,950INDUSTRIALOwner operat
50、ed factories,low rise,light weight industry 160 -260 620 -860 400 -500 550 -750 500 -700 2,230 -3,070OTHERSUnderground/basement car parks(3 levels)900 -1,100 650 -1,050 350 -450 350 -450 400 -700 2,650 -3,750Multi storey car parks,above ground(4 levels)350 -700 550 -850 350 -450 350 -450 400 -700 2,
51、000 -3,150Schools(primary and secondary)750 -1,000 1,050 -1,250 350 -500 200 -350 550 -700 2,900 -3,800Students residences 750 -1,000 1,800 -2,100 600 -850 200 -350 1,400 -1,800 4,750 -6,100Sports clubs,multi purpose sports/leisure centres(dry sports)with a/c and including FF&E 2,600 -3,100 2,000 -2
52、,700 600 -850 350 -450 650 -800 6,200 -7,900General hospitals-public sector 3,500 -4,100 2,600 -3,150 700 -950 400 -600 1,600 -2,200 8,800 -11,000CONSTRUCTION COST DATA 113 CONSTRUCTION COST DATAACMV COSTS FOR VARIOUS DESIGNSAND DEVELOPMENTS IN HONG KONG CONSTRUCTION COST DATA14CONSTRUCTION COST DAT
53、A 115 CONSTRUCTION COST DATAFIT-OUT COSTS FOR HONG KONG BUILDING TYPEHK$/m2HOTELSPublic Areas(Front of House):3-star Hotel 10,200 -15,0004-star Hotel 15,500 -21,5005-star Hotel 21,500 upGuest Rooms:3-star Hotel 8,700 -10,5004-star Hotel 10,500 -14,0005-star Hotel 14,000 upNotes:1.Includesfurniture,f
54、loor,wallandceilingfinishes,drapery,sanitaryfittingsandlightfittings.2.Excludespartitioning,M&Eworks,buildingshell,chandeliers,operationalitemsandequipment(e.g.cutlery,crockery,linen,television,refrigeratoretc.),openingexpenses,stageequipmentandcomputersystems.OFFICESGeneral office 6,200 -9,700Execu
55、tive office 9,700 -13,500Prestige office 13,500 upNotes:1.Local/Taiwanese/PRCfurnitureallowedforgeneraloffices.2.Includesfurniture,partitioning,electricalwork,minoralterationtoair-conditioning,fireservicesandsuspendedceilingtosuitlayout.3.Excludestelephones,datacabling,officeequipment(puters,photoco
56、piers,faxmachines,UPS,etc).The above costs are at 4th Quarter 2018 levels.CONSTRUCTION COST DATA16BUILDING TYPEHK$/m2DEPARTMENT STORESGeneral department store 7,700 -12,500Prestige department store 12,500 upNotes:1.Includeselectricalwork,additionalFCUandminoralterationoffireservicestosuitlayout.2.Ex
57、cludesfacademodification,datacabling,operationalitemsandequipment(puters,P.O.S.,officeequipment)andopeningexpenses.RESTAURANTSGeneral dining restaurant 11,500 -20,000Fine dining restaurant 23,000 upNotes:1.Includesfurniture,floor,wallandceilingfinishes,electricalwork,minoralterationtoair-conditionin
58、gandfireservicesinstallationtosuitlayout,exhaustforkitchen.2.Excludesexhaustflue,operationalitems(e.g.cutlery,crockery,linen,utensils,etc.).The costs per square meter are based on fit-out area measured to the inner face of the perimeter wall.CONSTRUCTION COST DATA 117 CONSTRUCTION COST DATADESCRIPTI
59、ONUNITHK$SQUASH COURTSSingle court with glass backwall including associated mechanical and electrical services but excluding any public facilities(enclosing structure not included).per court700,000TENNIS COURTS Single court on grade with acrylic surfacing and complete with chain link fence.per court
60、1,500,000Single court on grade with artificial turf surfacing and complete with chain link fence.per court1,700,000Extra for lighting.per court600,000SWIMMING POOLSHalf Olympic(25m x 10.50m)outdoor swimming pool built on-grade,fully tiled;complete with 5m wide deck and associated pool equipment and
61、ozonesystem.per pool10,000,000PLAYGROUND EQUIPMENTOutdoor playground equipment comprising various activities.per set300,000to 800,000UNIT COSTS FOR ANCILLARY FACILITIESFOR HONG KONGThe above costs are at 4th Quarter 2018 levels.CONSTRUCTION COST DATA18DESCRIPTIONUNITHK$SAUNASSauna room for 4-6 peopl
62、e complete with all accessories(enclosing structure not included).per room250,000STEAM BATHS Steam bath for 4-6 people complete with all accessories(enclosing structure not included).per room250,000GOLF COURSES(Based on average cost of an 18-hole golf course)Excluding associated buildings and equipm
63、ent.per hole8,000,000to 14,000,000GREEN ROOFProprietary lightweight green roof system;with automatic irrigation system(roofing and roof structure not included).per m23,000to6,000VERTICAL GREENVertical green system;wire frame type,with automatic irrigation system(backgorund supporting wall not includ
64、ed).per m25,000to10,000CONSTRUCTION COST DATA 119 CONSTRUCTION COST DATABUILDING TYPEUS$/m2 CFAHONG KONG SHANGHAI+BEIJING+GUANGZHOU/SHENZHEN+CHONGQING/CHENGDU+DOMESTICApartments,high rise,average standard 3,060-3,570 668-740 613-673 534-590 552-661 Apartments,high rise,high end 4,020-4,690 1,554-1,6
65、97 1,484-1,690 874-958 907-1,149Terraced houses,average standard 4,130-4,860 446-477 447-522 405-446 445-541Detached houses,high end 6,140 up 666-740 673-749 553-609 591-682OFFICE/COMMERCIALMedium/high rise offices,average standard 2,990-3,500 868-1,156 857-1,154 777-860 882-1,025 High rise offices,
66、prestige quality 3,630-4,260 1,158-1,445 1,154-1,895 1,132-1,361 1,122-1,520Out-of-town shopping centre,average standard 2,970-3,540 N/A 653-873 749-822 706-912Retail malls,high end 3,950-4,720 1,228-1,585 1,181-1,626 1,088-1,521 1,067-1,505HOTELSBudget hotels-3-star,mid market 3,840-4,160 952-1,169
67、 966-1,191 985-1,084 958-1,189Business hotels-4/5-star 4,020-4,720 1,556-2,120 1,615-2,132 1,592-2,273 1,747-2,188Luxury hotels-5-star 4,720-5,460 2,117-2,538 2,057-2,646 2,165-2,386 2,159 -2,592CONSTRUCTION COSTS FOR SELECTEDASIAN CITIESCONSTRUCTION COSTS FOR SELECTED ASIAN CITIESCONSTRUCTION COST
68、DATA20The above costs are at 4th Quarter 2018 levels,inclusive of preliminaries but exclusive of contingencies.+Houses are built to shell and core standard ONLY,where all tenant or occupant areas are unfurnished.Schools(primary and secondary)are of public authority standard,no a/c and complete with
69、basic external works.(Contd)INDUSTRIALIndustrial units,shell only(Conventional single storey framed units)N/A 280-342 270-329 497-547 426-542Owner operated factories,low rise,light weight industry 2,330-2,950 432-540 522-598 N/A N/AOTHERSUnderground/basement car parks(3 levels)3,200-3,840 742-1,033
70、746-820 513-820 413 -589Multi storey car parks,above ground(4 levels)1,920-2,280 382-532 449-454 367-404 324-405Schools(primary and secondary)2,520-2,710 528-676 520-671 407-448 438-487Students residences 2,930-3,310 377-527 368-520 264-297 N/ASports clubs,multi purpose sports/leisure centres(dry sp
71、orts)3,820-4,450 955-1,172 890-897 754-832 N/AGeneral hospitals-public sector 4,950-5,580 1,418-1,839 1,170-1,465 N/A N/AExchange Rate Used :US$1=HK$7.82RMB 6.94RMB 6.94RMB 6.94RMB 6.94 Offices of average standard are built to the following provisions:(i)Curtain wall/window wall facade (ii)Tenant ar
72、eas include screeded floor,painted wall and ceilingSchools(primary and secondary)are of public authority standard,no a/c and complete with basic external works.CONSTRUCTION COST DATA 121 CONSTRUCTION COST DATABUILDING TYPEUS$/m2 CFA MACAU SINGAPORE KUALALUMPUR BANGKOK DOMESTICApartments,high rise,av
73、erage standard 2,279-2,788 1,305-1,485345-580 703-871Apartments,high rise,high end 3,183-4,864 2,030-3,045710-1,120 978-1,207Terraced houses,average standard 3,884-4,635 1,705-1,920220-345 458-565Detached houses,high end4,737-6,1632,175-2,900 740-980 794-962OFFICE/COMMERCIALMedium/high rise offices,
74、average standard 2,623-3,387 1,705-1,920 575-745 642-794High rise offices,prestige quality3,387-3,705 1,920-2,100 865-1,255 871-1,176 Out-of-town shopping centre,average standard 2,470-3,7051,920-2,030 550-715626-810Retail malls,high end3,884-4,686 2,030-2,245 680-1,000840-886HOTELSBudget hotels-3-s
75、tar,mid market3,451-3,909 2,140-2,3551,020-1,395 1,146-1,268Business hotels-4/5-star 4,686-5,602 2,755-3,115 1,720-2,1751,466-1,680Luxury hotels-5-star5,602-6,621 2,755-3,115 1,940-2,4351,711-1,986CONSTRUCTION COSTS FOR SELECTEDASIAN CITIESCONSTRUCTION COSTS FOR SELECTED ASIAN CITIES(Contd)CONSTRUCT
76、ION COST DATA22(Contd)Rates are exclusive of any management contract fee.The above costs are at 4th Quarter 2018 levels,inclusive of preliminaries but exclusive of contingencies.Rates are nett of GST.Includes raised floor and ceiling to tenanted areas but excludes office carpets(normally under tenan
77、ts fit-out).Open on all sides with parapet.6-12 units per floor,46m2-83m2 per unit,exclude air-conditioning equipment,kitchen cabinets and home appliances.Terraced houses exclude air-conditioning.Offices are average standard and exclude tenant fitout.Schools(primary and secondary)are standard govern
78、ement provisions.Studenthostels to university standard.Rates exclude VAT.INDUSTRIALIndustrial units,shell only(Conventional single storey framed units)N/A725-930320-430 489-611Owner operated factories,low rise,light weight industryN/AN/A430-520N/AOTHERSUnderground/basement car parks(3 levels)2,050-3
79、,005930-1,255 310-530 550-733Multi storey car parks,above ground(4 levels)1,133-1,490640-930 220-345 183-299Schools(primary and secondary)2,266-2,623N/A 250-305N/AStudents residences 1,795-2,0881,560-1,705 295-360N/ASports clubs,multi purpose sports/leisure centres(dry sports)N/A 1,955-2,100 595-730
80、N/AGeneral hospitals-public sectorN/A 2,755-2,900 855-1,155N/AExchange Rate Used :US$1=MOP 8.07S$1.38RM 4.18BAHT 32.73CONSTRUCTION COST DATA 123 CONSTRUCTION COST DATABUILDING TYPEUS$/m2 CFAMANILA INDIA JAKARTA$HO CHI MINH&DOMESTICApartments,high rise,average standard 937-1,135 576-660 722-817 645-8
81、00Apartments,high rise,high end 1,265-2,107 869-1,047 996-1,124 820-940Terraced houses,average standard 762-917 398-419 383-498 435-510Detached houses,high end 1,631-2,724 525-550 1,042-1,165 495-605OFFICE/COMMERCIALMedium/high rise offices,average standard 933-1,076 435-471 712-789 755-875High rise
82、 offices,prestige quality 1,264-1,390 544-576 1,050-1,174 870-1,185Out-of-town shopping centre,average standard 762-935 424-461 611-675 N/A Retail malls,high end 1,093-1,508 592-639 675-730 705-920HOTELSBudget hotels-3-star,mid market1,195-1,312 817-905 1,237-1,461 1,400-1,710Business hotels-4/5-sta
83、r 1,347-1,607 1,272-1,508 1,691-1,827 N/A Luxury hotels-5-star 1,851-2,524 1,607-1,759 1,801-2,030 1,765-2,120CONSTRUCTION COSTS FOR SELECTEDASIAN CITIESCONSTRUCTION COSTS FOR SELECTED ASIAN CITIES(Contd)CONSTRUCTION COST DATA24The above costs are at 4th Quarter 2018 levels,inclusive of preliminarie
84、s but exclusive of contingencies.Rates include 12%VAT.$Rates are nett of VAT.Rates are based on projects in Bangalore and are nett of GST.Mumbai costs are generally 8%higher.INDUSTRIALIndustrial units,shell only(Conventional single storey framed units)485-538 340-398 327-356 310-390Owner operated fa
85、ctories,low rise,light weight industry 685-789 361-424 355-392 350-460OTHERSUnderground/basement car parks(3 levels)494-610 288-309 505-619 640-765Multi storey car parks,above ground(4 levels)475-661 230-252 327-356 410-450Schools(primary and secondary)701-952 285-324 N/A 540-590Students residences
86、742-937 309-340 N/A 540-695Sports clubs,multi purpose sports/leisure centres(dry sports)1,186-1,699 602-6281,095-1,640 800-855General hospitals-public sector 1,287-1,523 660-723 N/A N/A Exchange Rate Used :US$1=PHP 52.88INR 71.9IDR 15,180VND 22,600&Rates are nett of VAT and contigencies.CONSTRUCTION
87、 COST DATA 125 CONSTRUCTION COST DATAM&E COSTS FOR SELECTED ASIAN CITIESM&E COSTS FOR SELECTED ASIAN CITIESBUILDING TYPEHONG KONGSHANGHAIBEIJINGGUANGZHOU/SHENZHENCHONGQING/CHENGDUHK$/m2 CFARMB/m2 CFARMB/m2 CFARMB/m2 CFARMB/m2 CFAMECHANICAL SERVICESOffices 1,900-2,700 790-1,005 775-1,071 775-1,070 73
88、0-990Industrial*160-260 176-295 170-280 155-285 140-230Hotels 2,100-2,650 1,010-1,316 950-1,224 1,080-1,350 930-1,280Shopping Centres 2,200-2,750 1,070-1,125 806-970 715-910 890-1,010Apartment 850-2,000 up 320-423 143-459 152-410 150-300ELECTRICAL SERVICESOffices 1,750-2,450 620-700 470-717 540-795
89、450-660Industrial*620-860 311-440 326-459 320-459 260-360Hotels 1,900-2,600 677-864 719-962 715-1020 580-830Shopping Centres 1,800-2,450 540-677 490-690 500-690 510-660Apartment 1,100-2,100up 262-383 258-406 280-500 230-340HYDRAULIC SERVICESOffices 700-900 112-166 97-143 128-184 85-120Industrial 500
90、-700 89-131 97-143 89-124 85-120Hotels 2,000-3,000 375-498 377-490 390-500 330-450CONSTRUCTION COST DATA26The above costs are at 4th Quarter 2018 levels,exclusive of contingencies.*Generally without A/C.*Excludes special power supply.(Contd)Shopping Centres 700-900 140-188 143-204 114-168 100-150Apa
91、rtment 1,400-2,200 171-231 173-234 150-280 100-180FIRE SERVICESOffices 550-700 232-325 184-270 230-350 240-290Industrial 400-500 160-268 153-230 143-272 130-230Hotels 600-850 294-397 224-383 285-425 250-350Shopping Centres 550-700 263-391 224-383 248-383 250-370Apartment 100-600 56-105 71-138 72-152
92、 60-110LIFTS/ESCALATORSOffices 700-1,200 288-567 294-577 295-517 300-550Industrial 550-750 139-402 145-400 150-440 150-350Hotels 550-850 226-510 232-520 250-480 250-430Shopping Centres 850-1,000 335-510 327-520 325-470 290-440Apartment 450-850 170-300 175-289 130-500 140-240CONSTRUCTION COST DATA 12
93、7 CONSTRUCTION COST DATAM&E COSTS FOR SELECTED ASIAN CITIESM&E COSTS FOR SELECTED ASIAN CITIES(Contd)BUILDING TYPEMACAU SINGAPORE KUALALUMPUR BANGKOK MOP/m2 CFAS$/m2 CFARM/m2 CFABAHT/m2 CFAMECHANICAL SERVICESOffices N/A 153-249 320-490 4,400-4,800Industrial*N/A 34-117 85-190 1,550-1,600Hotels 2,640
94、-3,050 129-278 300-590 4,600-5,100Shopping Centres 2,400 -3,000 147-246 300-475 4,600-4,800Apartment 900 -1,200 90-170 120-210 4,300-4,500ELECTRICAL SERVICESOffices N/A 158-258 290-460 3,400-3,800Industrial*N/A 55-136 145-190 1,950-2,200Hotels 2,640-3,150 181-356 295-550 3,800-4,500Shopping Centres
95、2,640-3,000 160-304 295-460 2,800-3,200Apartment 1,020-1,320 97-213 105-210 2,800-3,350HYDRAULIC SERVICES Offices N/A 26-55 35-65 780-900Industrial N/A 18-36 40-50 750-790Hotels 1,830-2,240 91-172 175-270 1,400-1,650CONSTRUCTION COST DATA28 Based upon nett enclosed area and nett of VAT.*Generally wi
96、thout A/C.*Excludes special power supply.Rates are nett of GST and excluding BAS.(Contd)The above costs are at 4th Quarter 2018 levels,exclusive of contingencies.Shopping Centres 610-810 46-80 30-35 790-950Apartment 1,520-2,030 72-146 50-100 1,200-1,400FIRE SERVICESOffices N/A 33-56 60-80 780-850Ind
97、ustrial N/A 23-51 45-65 730-750Hotels 910-1,120 28-57 65-90 780-890Shopping Centres 610-810 37-56 55-80 780-820Apartment 250-300 25-43 15-30 720-850LIFTS/ESCALATORSOffices N/A 63-162 125-350 1,100-1,350Industrial N/A 41-104 55-180 N/AHotels 610-810 49-108 100-285 1,100-1,400Shopping Centres 460-710
98、56-90 95-120 250-450Apartment 460-610 41-100 65-110 500-580CONSTRUCTION COST DATA 129 CONSTRUCTION COST DATABUILDING TYPE MANILA INDIA JAKARTA#HO CHI MINHPHP/m2 CFAINR/m2 CFAIDR/m2 CFAVND/m2 CFAMECHANICAL SERVICESOffices 4,000-5,930 4,800-6,805 1,028,000-1,183,000 2,036,000-2,902,000Industrial*800-1
99、,500 2,210-3,925 466,000-744,000 N/AHotels 3,500 -9,670 5,880-6,420 1,022,000-1,210,000 N/AShopping Centres 2,890-6,840 4,585-6,005 905,000-1,087,000 N/AApartment 1,360-4,430 2,620-3,245 915,000-1,001,000 1,537,000-2,106,000ELECTRICAL SERVICESOffices 3,700-7,000 4,250-5,840 830,000-1,060,000 2,275,0
100、00-2,723,000Industrial*2,000-3,500 2,500-4,150 589,000-833,000 N/AHotels 4,700-12,000 4,710-6,425 835,000-937,000 N/AShopping Centres 3,600-6,000 4,050-5,420 723,000-910,000 N/AApartment 3,600-6,800 2,040-2,805 878,000-1,049,000 2,006,000-2,534,000HYDRAULIC SERVICES Offices 1,230-2,200 740-1,130 209
101、,000-294,000 332,000-621,000Industrial 800-1,300 510-890 139,000-214,000 N/AHotels 2,250-6,820 3,868-5,825 835,000-1,054,000 N/AM&E COSTS FOR SELECTED ASIAN CITIESM&E COSTS FOR SELECTED ASIAN CITIES(Contd)CONSTRUCTION COST DATA30(Contd)#All rates are nett of VAT.Rates for Electrical Services are exc
102、luding genset.Rates for Hydraulic Services are excluding STP.Rates for Mechanical Services refers to ACMV Rates only.*Generally without A/C.*Excludes special power supply.Transformer,included in Electrical Services.The above costs are at 4th Quarter 2018 levels,exclusive of contingencies.Rates are b
103、ased on projects in Bangalore and are nett of GST.Mumbai costs are generally 8%higher.Shopping Centres 1,220-1,600 1,100-1,990 198,000-305,000 N/AApartment 2,250-3,600 1,745-2,410 889,000-1,124,000 647,000-752,000FIRE SERVICESOffices 950-1,560 1,185-1,545 284,000-375,000 704,000-1,167,000Industrial
104、800-2,000 540-745 150,000-214,000 N/AHotels 1,100-2,030 1,375-1,760 284,000-332,000 N/AShopping Centres 1,090-1,730 1,130-1,310 278,000-326,000 N/AApartment 900-1,300 630-750 294,000-343,000 483,000-606,000LIFTS/ESCALATORSOffices 1,600-4,620 985-1,250 444,000-1,065,000 670,000-1,279,000Industrial 0-
105、400 640-825 N/A N/AHotels 1,800-3,400 1,430-2,085 434,000-707,000 N/AShopping Centres 1,600-2,680 1,675-2,145 326,000-878,000 1,364,000-1,931,000Apartment 850-3,440 890-1,150 434,000-798,000 761,000-1,101,000CONSTRUCTION COST DATA 131 CONSTRUCTION COST DATADESCRIPTIONHONG KONGSHANGHAIBEIJINGGUANGZHO
106、U/SHENZHENCHONGQING/CHENGDUUNITHK$RMBRMBRMBRMB1.Excavating basement 2.00m deepm3 200 30 30 30 302.Excavating for footings 1.50m deepm3 180 30 33 30 263.Remove excavated materials off sitem3 300 135 60 105 954.Hardcore bed blinded with fine materialsm3 950 190 180 190 1705.Mass concrete grade 15m3 1,
107、100 540 530 540 4206.Reinforced concrete grade 30m3 1,200 570 550 580 5507.Mild steel rod reinforcementkg 9.7 5.8 5.6 6 5.38.High tensile rod reinforcementkg 9.7 5.8 5.6 6 5.39.Sawn formwork to soffits of suspended slabsm2 410 90 90 90 6510.Sawn formwork to columns and wallsm2 410 90 85 85 6011.112.
108、5mm thick brick wallsm2 400 90 80 80 8012.Kliplok Colorbond 0.64mm profiled steel sheetingm2 1,000 N/A N/A N/A N/AMAJOR RATES FOR SELECTED ASIAN CITIESMAJOR RATES FOR SELECTED ASIAN CITIESCONSTRUCTION COST DATA32(Contd)Rates including dumping charges.Rates for 120mm thick concrete block walls.*Rates
109、 for double glazed window.The above costs are at 4th Quarter 2018 levels and are based on lump sum fixed price contract rates exclusive of preliminaries and contingencies.13.Aluminium casement windows,single glazedm2 3,800 700 815*700 65014.Structural steelwork-beams,stanchions and the likekg 36 11
110、11 12.5 1115.Steelwork-angles,channels,flats and the likekg 42 9.5 9.5 11.5 11.116.25mm cement and sand(1:3)pavingm2 160 35 32 35 2517.20mm cement and sand(1:4)plaster to wallsm2 165 35 32 30 3518.Ceramic tiles bedded to floor screed(measured separately)m2 400 160 145 155 13019.12mm fibrous plasterb
111、oard ceiling liningm2 600 150 162 190 15020.Two coats of emulsion paint to plastered surfacesm2 90 40 32 35 35Average expected preliminaries%10-15 5-10 7-10 5-12 6-12CONSTRUCTION COST DATA 133 CONSTRUCTION COST DATADESCRIPTIONMACAUSINGAPORE KUALA LUMPURBANGKOKUNITMOPS$RMBAHT1.Excavating basement 2.0
112、0m deepm3 150 20 15-25 120-1402.Excavating for footings 1.50m deepm3 180 20 15-25 140-1803.Remove excavated materials off sitem3 150 15-20 20-30 120-1504.Hardcore bed blinded with fine materialsm3 1,200 50 72-95 650-7505.Mass concrete grade 15m3 1,350 175-185 240-315 2,300-2,5006.Reinforced concrete
113、 grade 30m3 1,250 115-120 260-320 2,600-2,8007.Mild steel rod reinforcementkg 9 1.25-1.35 3.4-3.8 26-298.High tensile rod reinforcementkg 9 1.25-1.35 3.4-3.8 26-289.Sawn formwork to soffits of suspended slabsm2 280 40 38-45 420-48010.Sawn formwork to columns and wallsm2 280 40 38-45 420-48011.112.5m
114、m thick brick wallsm2 450 35-40 42-50 650-75012.Kliplok Colorbond 0.64mm profiled steel sheetingm2 N/A 43 65-70 1,200MAJOR RATES FOR SELECTED ASIAN CITIESMAJOR RATES FOR SELECTED ASIAN CITIES(Contd)CONSTRUCTION COST DATA34(Contd)Rates are nett of VAT.Rates are nett of GST.Rate for lean concrete blin
115、ding.The above costs are at 4th Quarter 2018 levels and are based on lump sum fixed price contract rates exclusive of preliminaries and contingencies.13.Aluminium casement windows,single glazedm2 4,000 290 380-600 7,00014.Structural steelwork-beams,stanchions and the likekg 35 4-4.5 7.5-9.5 60-7515.
116、Steelwork-angles,channels,flats and the likekg 40 4-4.5 7.5-9.5 60-7516.25mm cement and sand(1:3)pavingm2 120 21 17-25 200-24017.20mm cement and sand(1:4)plaster to wallsm2 150 22 18-25 220-26018.Ceramic tiles bedded to floor screed(measured separately)m2 450 74 50-70 1,20019.12mm fibrous plasterboa
117、rd ceiling liningm2 650 30 35-45 750-85020.Two coats of emulsion paint to plastered surfacesm2 200 3.5-4 3.5-5.0 120-160Average expected preliminaries%10 12-15 6-1512-18CONSTRUCTION COST DATA 135 CONSTRUCTION COST DATADESCRIPTIONMANILAINDIAJAKARTA#HO CHI MINH#UNITPHPINRIDRVND1.Excavating basement 2.
118、00m deepm3 270 199 40,000 92,4002.Excavating for footings 1.50m deepm3 500 225 75,000 92,4003.Remove excavated materials off sitem3 350 N/A 35,000 84,7004.Hardcore bed blinded with fine materialsm3 1,800 4,620 650,000 280,9005.Mass concrete grade 15m3 3,400 6,248 950,000 1,696,4006.Reinforced concre
119、te grade 30m3 4,800 7,822 1,135,000 1,865,6507.Mild steel rod reinforcementkg 54 70 12,500 19,7648.High tensile rod reinforcementkg 55 72 12,500 19,9089.Sawn formwork to soffits of suspended slabsm2 1,000 708 200,000 215,00010.Sawn formwork to columns and wallsm2 950 761 195,000 245,00011.112.5mm th
120、ick brick wallsm2 N/A 1,155 250,000 312,78012.Kliplok Colorbond 0.64mm profiled steel sheetingm2 1,400 1,785 300,000 401,110-597,600MAJOR RATES FOR SELECTED ASIAN CITIESMAJOR RATES FOR SELECTED ASIAN CITIES(Contd)CONSTRUCTION COST DATA36 Rate for aluminium with anodized finish;6mm thick.The above co
121、sts are at 4th Quarter 2018 levels and are based on lump sum fixed price contract rates exclusive of preliminaries and contingencies.#Rates are nett of VAT.Rate for 9mm gypsum board.All rates above are Supply and Fix,based on projects in Bangalore and are nett of GST.Mumbai costs are generally 8%hig
122、her.13.Aluminium casement windows,single glazedm2 11,500 6,300 1,650,000 6,315,00014.Structural steelwork-beams,stanchions and the likekg 160 126 27,000 52,65015.Steelwork-angles,channels,flats and the likekg 160 126 27,000 52,65016.25mm cement and sand(1:3)pavingm2 650 498 90,000 94,00017.20mm ceme
123、nt and sand(1:4)plaster to wallsm2 700 409 100,000 144,00018.Ceramic tiles bedded to floor screed(measured separately)m2 1,800 1,785 200,000 674,18019.12mm fibrous plasterboard ceiling liningm2 1,400 1,417 215,000 234,00020.Two coats of emulsion paint to plastered surfacesm2 500 252 30,000 88,900Ave
124、rage expected preliminaries%12-189-138-108-12CONSTRUCTION COST DATA 137 CONSTRUCTION COST DATABUILDING TYPEOUTLINE SPECIFICATIONDOMESTICApartments,high rise,average standardApartment units with fit-out,including air-conditioning,kitchen cabinets and home appliances,but excluding decorative light fit
125、tings and loose furnitureApartments,high rise,high endApartment units with good quality fit-out,including air-conditioning,kitchen cabinets and home appliances,but excluding decorative light fittings and loose furnitureTerraced houses,average standardHouses with fit-out,including air-conditioning,ki
126、tchen cabinets and home appliances,but excluding decorative light fittings,loose furniture,garden and parkingDetached houses,high endHouses with good quality fit-out,including air-conditioning,kitchen cabinets and home appliances,but excluding decorative light fittings,loose furniture,garden and par
127、kingOFFICE/COMMERCIALMedium/high rise offices,average standardRC structure,curtain wall,including public area fit-out,tenant area with raised floor/carpet,painted wall and false ceilingHigh rise offices,prestige qualityCONSTRUCTION COST SPECIFICATIONCONSTRUCTION COST SPECIFICATIONCONSTRUCTION COST D
128、ATA38(Contd)Out-of-town shopping centre,average standardIncluding public area fit-out and M&E,but excluding shop fit-outRetail malls,high endHOTELSBudget hotels-3-star,mid market1)Interior decoration2)Furniture(fixed and movable)3)Special light fittings(chandeliers,etc.)4)Operating Supplies and Equi
129、pment(OS&E)excluded.Business hotels-4/5-starLuxury hotels-5-starINDUSTRIALIndustrial units,shell only(Conventional single storey framed units)RC structure with steel roof and M&E to main distribution,but excluding a/c,heating and lightingOwner operated factories,low rise,light weight industryRC stru
130、cture,including small office with simple fit-out and M&E,but excluding a/c and heatingCONSTRUCTION COST DATA 139 CONSTRUCTION COST DATABUILDING TYPEOUTLINE SPECIFICATIONOTHERSUnderground/basement car parks(3 levels)RC structureMulti storey car parks,above ground(4 levels)RC structure,natural ventila
131、ion,no facade enclosureSchools(primary and secondary)Including fit-out and a/c,but excluding educational equipmentStudents residencesIncluding fit-out,loose furniture and a/cSports clubs,multi purpose sports/leisure centres(dry sports)Dry sports(no swimming pool)and are for leisure centre type schem
132、es including main sports hall,ancillary sports facilities,changing and showers,restaurant/cafe,bar,etc.Costs include a/c,Furniture,Fittings and Equipment(FF&E).General hospitals-public sectorExcluding medical and operating equipmentCONSTRUCTION COST SPECIFICATIONCONSTRUCTION COST SPECIFICATION(Contd
133、)CONSTRUCTION COST DATA40Notes:1.The costs for the respective categories given above are averages based on fixed price competitive tenders.It must be understood that the actual cost of a building will depend upon the design and many other factors and may vary from the figures shown.2.The costs per s
134、quare metre are based on Construction Floor Areas(CFA)measured to the outside face of the external walls/external perimeter including lift shafts,stairwells,balconies,plant rooms,water tanks and the like.3.All bulidings are assumed to have no basements(except otherwise stated)and are built on flat g
135、round,with normal soil and site condition.The cost excludes site formation works,external works,land cost,professional fees,finance and legal expenses.4.The standard for each category of building varies from region to region and do not necessary follow that of each other.5.All costs are in US$/m2 CF
136、A.Fluctuation in exchange rates may lead to changes in construction costs expressed in U.S.dollars.2GENERAL CONSTRUCTION DATA2019 OutlookBuilding Cost Trends in Hong KongLabour Index in Hong KongLabour Wages in Hong KongMaterial Prices in Hong KongConstruction Workdone ForecastEstimating Rules of Th
137、umb and Design NormsConstruction Activity in Hong Kong Construction Value in Hong Kong Hong Kong General Construction InsuranceSpecified Forms for Buildings Ordinance or Regulations for Hong Kong Summary of Building Regulations for Hong KongPercentage Site Coverage and Plot Ratios for Hong KongEvolv
138、ing Regulations for Green Building in ChinaProcurement Strategies and Form of ContractsGENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA243 2019 OUTLOOK CHINAThe Chinese government had a clear economic outline for growth in 2018 with areas of focus including a need to improve the quality of GDP gr
139、owth,create more openness to foreign investment and to control its growing levels of pollution.In response,Chinas GDP increased by 6.7%,Year-on-Year(YoY)based on Q3 2018.The rate of inflation was mild with the Composite Consumer Price Index(CPI)increasing gradually from a low in early 2017 by 2.2%Yo
140、Y based on November 2018.Annual growth in land sales There was significant annual growth in land sales of 15.7%in the first three quarters of 2018.However,935 land auctions were aborted due to a failure to reach reserve prices,which included 13 plots in Tier-1 Cities.This has resulted in developers
141、operating with more caution and the reserve price of new land dropping to its lowest level since 2014.Additionally,developers saw high levels of turnover in the first three quarters of 2018,which generated RMB11,591.4 billion in revenue,a 12.5%increase YoY.There was also growth in available property
142、 to sell due to an annual rise of 16.3%in new development areas.However,the growth in sales of the new development areas was slow at only 2.2%,suggesting that construction may slow down in 2019.Construction levels might be further impacted by the announcement on 31 July 2018 that the government woul
143、d firmly suppress the rise of housing prices,causing further concern for developers.Tightening of lending Real estate investment increased by 7.7%YoY in 2018 despite market tightening around access to funding.The tightening of lending is a reaction to limit associated risk for local loans(provided b
144、y local banks and financial GENERAL CONSTRUCTION DATA44(Contd)institutions)and overseas financing which saw lending drop by 5.2%and 35.6%respectively.Despite this change in access to funding,real estate investment still increased and this is partly due to a 10.8%growth in self-raised funds,such as m
145、ortgages.This suggests the property market may slow down in 2019 as lenders look to operate with more caution.In Q4 of 2018,the Central Bank of China reacted by lowering the Reserve Requirement Ratio(RRR)by 1%for the fourth time in 2018.This action,together with the continuous growth of new developm
146、ent areas,has the potential to alleviate the impact of suppressing rising housing prices on the property market.Early activity in 2019 has seen a further 1%reduction in RRR.Increase in construction wages In the first three quarters of 2018,construction wages increased by 4.3%YoY,which is the highest
147、 rate of growth in the last three years.Basic construction product costs fluctuated with rebar(-)17%,steel(-)13%,concrete(+)23%and cement(+)39%,YoY.There was also an increase in the price of cement and concrete due to changes in environmental protection policies,while decrease in rebar and steel wer
148、e due to excess supply.The tender price recorded an increase of 3%in 2018.There are no signs that the government is going to loosen any restrictions in its policies on housing purchases,bank mortgages or loans in 2019.It is also anticipated that there will be a slowing down in the real estate market
149、 that is expected to impact the construction market in 2019.Construction wages are anticipated to grow between 3%and 5%in 2019 with prices of major material to remain stable.Its anticipated that construction costs will rise by 3%per annum in the next two years.GENERAL CONSTRUCTION DATA GENERAL CONST
150、RUCTION DATA245 2019 OUTLOOK HONG KONGHong Kongs 2018 construction industry had some core challenges that were addressed in the 2018/19 Budget Announcement and Chief Executives 2018 Policy Address.These include the need to adopt technology and innovation,address the shortage of land and develop more
151、 affordable housing,which are all expected to continue into 2019.Despite these market challenges,Hong Kongs economy showed continued growth with its GDP rising by 2.9%Year-on-Year(YoY)based on Q3 2018.Inflation was mild with the Composite Consumer Price Index(CPI)increasing gradually from a low in e
152、arly 2017 by 2.7%YoY based on October 2018.High approval rates for major capital worksThe gross value of construction works performed rose by 3.2%YoY based on Q2 2018 with several major long-term civil projects reaching completion,including the Hong Kong-Zhuhai-Macau Bridge and the West Kowloon Rail
153、way Station.This had the potential to leave a gap in ongoing capital works,but Hong Kongs Legislative Council approved funding for major capital works in 2017/18,that showed a 50%increase from the previous year.As a result,there has been a number of projects that have commenced in 2018,and more that
154、 will commence in 2019 keeping the market stable.These projects include the Kai Tak Sports Park,Tung Chung New Town Extension,Central Kowloon Route and Integrated Basement for West Kowloon Cultural District.These supplement existing projects still under construction that include the Tseung Kwan O-La
155、m Tin Tunnel,infrastructure for the Kai Tak Development and the new runway at the Hong Kong International Airport.Funding was also granted in 2018 as a part of the governments 10-year Hospital Development Plan,for projects at Kwong Wah Hospital,Queen Mary Hospital and New Acute Hospital at Kai Tak D
156、evelopment Area.GENERAL CONSTRUCTION DATA46The Lantau Tomorrow VisionA new large-scale development project,the Lantau Tomorrow Vision,was launched in the 2018 Policy Address which includes significant land reclamation of 1,700 hectares.This is a long-term project that has limited construction work i
157、n 2019 with feasibility and design work taking precedent.Subsidized housing The completion of rental public housing and subsidized units in 2018/19 was around 27,000,which is slightly under the yearly supply average of 28,000.The number of completed private residential units in 2018 was on target at
158、 around 18,000,but the commencement rate including consent to commence in terms of floor area,decreased by 17%YoY based on September 2018.Rising cost of sandThe Tender Price Index(TPI)decreased by 4.01%YoY based on Q4 2018.Steel price has increased from a market low in early 2016 with other core mat
159、erials remaining stable throughout the year.Notably,the price of sand increased by 142%since a market slump in September 2017.Construction workers wages,including bar benders,electrical and mechanical workers remained stable at peak levels,but wages for carpenters,bricklayers and general workers hav
160、e experienced a slight dip.The Labour Wage Index(LWI)dropped 3.1%YoY based on Q3 2018.Looking forward to 2019,despite the increased number of approved works,it is expected that there will be a reduction in the level of construction activities,especially on residential developments.In addition,there
161、is also growing uncertainty around the influence of the US-China trade war and the local property market on future construction output.Its anticipated that construction costs will drop 2%in 2019 and further 1%in 2020.(Contd)GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA247 2019 OUTLOOK MACAUThe
162、 economic outlook for Macau is positive with the International Monetary Fund(IMF)expecting the Special Administrative Region(SAR)to have the highest GDP in the world by 2020,with its gaming sector continuing to underpin its economic growth.However,diversification of economic income remains key for M
163、acaus government to reduce its dependence of gaming revenue.This outlook is supported by statistics released by the Macau Government Economic Bureau that indicate Macau is moving toward economic recovery with significant GDP growth rising by 8.3%in 2018 and projected to be 7.1%in 2019.The Composite
164、Consumer Price Index(CPI)also increased by 2.8%Year-on-Year(YoY)with the price of products and services across the clothing and footwear,medical and transportation sectors growing.Growth in hotel construction The Macau construction market has been historically dominated by the development of new cas
165、inos,but hotels have seen the most growth with guest rooms increasing to 38,700 by the end of June 2018,a 7.6%increase YoY.However,Macau is starting to see a change in strategic direction with the construction sector looking at Alteration and Additions(A&A)development and construction works for publ
166、ic housing,as the Macau government looks to provide more affordable housing.Overall,the gaming industry saw rapid growth with gross gaming revenue in the first half of 2018 up by 18.9%YoY to MOP 150.79 billion,while tax revenue from gaming rose by 19%YoY to MOP 57.17 billion.An area for further grow
167、th is the renewal of Macaus gaming license in 2020,which might lead to a rise in competition in the casino market.Reduction in the foreign labour quota Statistical data provided by DSEC(Government of Macao Special Administrative Region Statistics and Census GENERAL CONSTRUCTION DATA48(1)Building Wor
168、ks(2)Civil Engineering WorksCONSTRUCTION COST TREND PREDICTIONREGION201720182019China(1)(+)6%(+)3%(+)3%Hong Kong(1)(-)2%(-)2%(-)1%Hong Kong(2)(-)7%(-)3%(-)1%Macau(1)(+)2%(+)1%(+)1%Service),shows that the price of construction materials has increased by 3.4%YoY as of Q3 2018 with labour costs remaini
169、ng steady.There are fewer construction sites needed for new build casinos,creating a drop in the demand for labour.However,the Macau government has tightened the granting of labour quotas for foreign and mainland workers,forcing construction companies to employ a higher proportion of local citizens.
170、It also remains possible that the Macau government will continue to tighten labour quotas,further limiting the supply of foreign labour into 2019.These two factors offset one another,leaving the cost of labour relatively unchanged.Investment in leisure and tourism In 2018,the Macau government contin
171、ued to invest in infrastructure and construction projects,with a focus on the leisure and tourism industry.With over 35 million visitor arrivals reported by the DSEC in 2018,the need to capitalize on additional attractions and mobility is critical.The opening of the Hong Kong-Zhuhai-Macau Bridge(HKZ
172、MB)in October is expected to boost visitor arrival figures further in 2019 with early indications in 2018 showing growth in visitor arrivals when comparing October and November 2017 to the same period in 2018.The overall growth of construction costs in 2018 was around 2%,and anticipated to rise by a
173、 further 2%in 2019 and 1%in 2020,mainly due to inflation factors and economic recovery.CONSTRUCTION COST TREND PREDICTIONREGION201820192020China(1)(+)3%(+)3%(+)3%Hong Kong(1)(-)4%(-)2%(-)1%Hong Kong(2)(-)5%(-)3%(-)1%Macau(1)(+)2%(+)2%(+)1%GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA249 BUILDI
174、NG COST TRENDS IN HONG KONGYEARINDEX(Base=100,at Year 1970)Q1Q2Q3Q4 2008 1,239 1,360 1,355 1,281 2009 1,245 1,242 1,253 1,273 2010 1,297 1,315 1,342 1,367 2011 1,385 1,425 1,452 1,491 2012 1,511 1,552 1,595 1,632 2013 1,688 1,713 1,747 1,786 2014 1,789 1,808 1,857 1,903 2015 1,946 1,958 1,963 1,984
175、2016 1,992 1,992 1,993 1,986 2017 1,975 1,968 1,957 1,946 2018 1,920 1,910 1,885 1,868GENERAL CONSTRUCTION DATA50(Contd)Source:Architectural Services Department,Hong Kong,SAR Refer to www.archsd.gov.hk for further information.*Up to Q3 onlyYEARINDEX(Base=100,at Year 1970)Q1Q2Q3Q4 2008 1,118 1,305 1,
176、401 1,262 2009 1,074 983 1,111 1,107 2010 1,134 1,161 1,249 1,266 2011 1,273 1,320 1,369 1,408 2012 1,414 1,438 1,467 1,496 2013 1,516 1,532 1,559 1,590 2014 1,621 1,648 1,679 1,703 2015 1,732 1,761 1,777 1,775 2016 1,775 1,776 1,783 1,781 2017 1,779 1,776 1,773 1,768 2018*1,755 1,727 1,708 GENERAL
177、CONSTRUCTION DATA GENERAL CONSTRUCTION DATA251 BUILDING COST TRENDS IN HONG KONG*1/18 to 6/18 onlySource:Civil Engineering and Development Department,Hong Kong,SAR Refer to www.cedd.gov.hk/eng/index.htm for further information.YEARHyD CONST.COST INDEX(Nov.1975 Value=100)CEDD CIVIL ENGINEERING WORKS
178、INDEX(1980 Value=100)2008 1,031 500 2009 950 461 2010 989 481 2011 1,075 525 2012 1,127 550 2013 1,191 583 2014 1,256 616 2015 1,282 627 2016 1,323 652 2017 1,429 703 2018*1,496 735GENERAL CONSTRUCTION DATA52LABOUR INDEX IN HONG KONGFigures above are the quarterly average of the monthly indicesSourc
179、e:Census and Statistics Department,Hong Kong,SAR Refer to www.censtatd.gov.hk for further information.*1/18 to 6/18 onlyYEARINDEX(Base=100,at April 2003)Q1Q2Q3Q4 2008 84 83 83 85 2009 85 85 85 86 2010 87 87 88 89 2011 90 90 91 94 2012 95 95 96 102 2013 109 111 113 115 2014 117 121 126 133 2015 138 1
180、41 143 145 2016 146 150 152 153 2017 154 157154152 2018*149 148GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA253 LABOUR WAGES IN HONG KONGSTRUCTURALSource:Census and Statistics Department,Hong Kong,SAR Refer to www.censtatd.gov.hk for further information.ARCHITECTURAL-BASIC WORKSGENERAL CONSTRU
181、CTION DATA54(Contd)ARCHITECTURAL-DECORATIVE WORKS M&ESource:Census and Statistics Department,Hong Kong,SAR Refer to www.censtatd.gov.hk for further information.GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA255 MATERIAL PRICES IN HONG KONGGALVANIZED MILD STEEL ANGLESource:Census and Statistics D
182、epartment,Hong Kong,SAR Refer to www.censtatd.gov.hk for further information.REBARGENERAL CONSTRUCTION DATA56(Contd)SAND ORDINARY PORTLAND CEMENTSource:Census and Statistics Department,Hong Kong,SAR Refer to www.censtatd.gov.hk for further information.GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION D
183、ATA257 Source:Organization of the Petroleum Exporting Countries(OPEC)Refer to www.opec.org for further information.Source:International Monetary Fund Refer to www.imf.org for further information.CRUDE OIL COPPER GRADE AMATERIAL PRICES IN HONG KONGGENERAL CONSTRUCTION DATA58CONSTRUCTION WORKDONE FORE
184、CASTThe following graph and table are an indication of the rate of expenditure for construction projects.The rate of expenditure is an average rate and will vary from project to project when specific project circumstances are taken into account.Construction Workdone ForecastCONTRACTPERIODCUMULATIVE
185、WORKDONECONTRACTPERIODCUMULATIVE WORKDONE 5%1%55%41%10%2%60%50%15%3%65%60%20%4%70%69%25%6%75%77%30%8%80%84%35%12%85%89%40%17%90%93%45%24%95%97%50%32%100%100%Contract PeriodGENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA259 ESTIMATING RULES OF THUMB AND DESIGN NORMSCFA To GFA Ratio Building Type
186、CFA:GFAResidential 1.15 to 1.25:1 Office/Commercial 1.15 to 1.25:1Hotel 1.30 to 1.45:1The above ratios do not include any associated car parking area.Functional Area Distribution in 5-Star HotelsFunctional Area%of Total Hotel CFAFront of House 15-20%Guestroom Floors 50-60%Back of House 25-30%Dimensi
187、ons of Typical Grade A Office SpaceComponent DimensionDistance from curtain wall to core wall 9-13 mPopulation 9 m2 usable floor area/personAverage waiting interval for lifts 30-40 secondsDensity of Basic Materials for StructureMaterial DensityConcrete 2,400 kg/m3Cement 1,450 kg/m3Sand 1,600 kg/m3Ag
188、gregate 1,600 kg/m3Steel 7,843 kg/m3Average Loads VolumeLorry(24 ton)10.0 m3Concrete truck(24 ton)5.5 m3Barge 200-1,450 m3HONG KONGGENERAL CONSTRUCTION DATA60Average Piling Ratio-Bored Piles Building Type m2 CFA/m2 cross section area of pilesResidential 200-330 Office/Commercial 200-300Hotel 200-330
189、Average Piling Ratio-Driven H-PilesBuilding Type m2 CFA/No.of pilesResidential 60-120 Office/Commercial 60-110Hotel 60-120Average Piling Ratio-Pre-Bored H-PilesBuilding Type m2 CFA/No.of pilesResidential 70-150 Office/Commercial 70-140Hotel 70-150All pile ratios are for high-rise buildings with norm
190、al soil conditions.Building Structure-Concrete RatioConcrete/floor area 0.4 m3/m2 to 0.5 m3/m2Formwork/floor area 2.2 m2/m2 to 3.0 m2/m2Reinforcement 160 kg/m3 to 250 kg/m3Average External Wall/Floor RatioResidential Apartments 1.2 m2/m2Office,Hotel 0.4 m2/m2Industrial 0.4 m2/m2(Contd)HONG KONG(Cont
191、d)GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA261 ESTIMATING RULES OF THUMB AND DESIGN NORMSAverage Internal Wall/Floor Ratio Residential Apartments 1.0 m2/m2 Office 0.5 m2/m2Hotel 1.5 m2/m2The above ratios are indicative and for reference purposes only.They do not account for buildings with
192、special shapes,configurations or particularly small foot prints.Average Lighting Level Building Type LuxResidential 300 Office 500Retail 400Hotel 300School 300-500Average Power DensityBuilding Type VA/m2 CFAResidential 80-100 Office 70Retail 300-400Hotel-Accommodation 30Hotel-F&B Area 550School 50Av
193、erage Cooling LoadBuilding Type m2 Cooling Area/RTResidential 18-23 Office 14-18Retail 12-14Hotel 23School 23HONG KONG(Contd)GENERAL CONSTRUCTION DATA62Dimensions of Parking Spaces MinimumType of Vehicle Length Width Headroom Private Cars and Taxis 5 m 2.5 m 2.4 mLight Goods Vehicles 7 m 3.5 m 3.6 m
194、Medium/Heavy Goods Vehicle 11 m 3.5 m 4.7 mContainer Vehicles 16 m 3.5 m 4.7 mCoaches and Buses 12 m 3.5 m 3.8 mLight buses 8 m 3 m 3.3 mMinimum headroom means the clearance between the floor and the lower most projection from the ceiling including any lighting units,ventilation ducts,conduits or si
195、milar.Indicative Dimensions for Sports Grounds Length WidthTennis Court 40 m 20 mSquash Court 10 m 6.4 mBasketball Court 34 m 20 mVolleyball Court 36 m 20 mBadminton Court 20 m 10 mIce Rink 61 m 26 mSoccer Pitch 120 m 90 mThe above dimensions are for a single court with appropriate clearance.No spec
196、tator seating or support area has been allowed.(Contd)HONG KONG(Contd)GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA263 ESTIMATING RULES OF THUMB AND DESIGN NORMSCHINA&HONG KONGBuilding Type China Hong Kong*DOMESTICApartments2.02.0OFFICE/COMMERCIALOffice2.03.0Shopping Arcade3.55.0HOTELSHotel2.0
197、2.0INDUSTRIALIndustrial,light duty4.05.0OTHERSCarpark,private cars2.53.0School2.53.0Theatre,Sports Hall,etc.4.05.0Hospital2.02.5Source:Load Code for the Design of Building Structures,GB 50009-2012,Ministry of Housing and Urban-Rural Development,PRC*Code of Practice for Dead and Imposed Loads 2011,Bu
198、ildings Department,HKSARMinimum Imposed Loads(kPa)for Building DesignGENERAL CONSTRUCTION DATA64CHINASeismic Precautionary Intensity ZoningAs stipulated in PRC National Standard GB 50011-2010(Code for Seismic Design of Buildings)2016,geographic regions which are classified as Level 6 or above in Sei
199、smic Precautionary Intensity Classification should incorporate seismic measures in the design of the structure and foundations.GeographicRegionsIntensityLevelGeographicRegionsIntensityLevelBeijing8Hong Kong7Changsha6Macau7Chengdu7-8Qingdao6-7Chongqing6-7Shanghai7Dalian6-8Shenyang6-7Foshan7Shenzhen7G
200、uangzhou6-7Suzhou6-7Haikou8Tianjin7-8Hangzhou6-7Wuhan6-7Hengqin7Xian8Level 5Level 6Level 7Level 8Level 9Seismic Precautionary Intensity Zoningof ChinaSource:China Earthquake Data Center()GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA265 YEARCOMPLETEDm2CONSENT TO COMMENCEm2#20081,799,0001,350,00
201、0 20091,489,0001,456,000 20101,978,0001,518,000 20111,650,0001,232,000 20122,507,0002,343,000 20131,472,0001,437,000 20141,908,0001,679,000 20151,897,0002,445,000 20162,134,0001,597,00020172,379,0001,900,000 2018*1,816,0001,042,000CONSTRUCTION ACTIVITY IN HONG KONG*1/18 to 9/18 only#First Submission
202、 onlySource:Census and Statistics Department,Hong Kong,SAR Buildings Department,Hong Kong,SAR Refer to www.censtatd.gov.hk and www.bd.gov.hk for further information.GENERAL CONSTRUCTION DATA66CONSTRUCTION VALUE IN HONG KONG*Up to Q2 figures and are provisional onlySource:Census and Statistics Depart
203、ment,Hong Kong,SAR Refer to www.censtatd.gov.hk for further information.YEARVALUE IN NOMINAL TERMSHK$MILLIONSVALUE IN CONSTANT(2000)MARKET PRICEHK$MILLIONS 2008 99,599 97,024 2009 100,944 93,683 2010 111,274 100,278 2011 128,535 108,263 2012 161,449 126,414 2013 176,575 129,868 2014 199,737 138,285
204、2015 223,947 146,978 2016 236,491 149,9732017249,919148,9432018*125,86572,146GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA267 HONG KONG GENERAL CONSTRUCTION INSURANCEThis section provides general information regarding construction insurance arrangements in Hong Kong.It is common place for Hong
205、 Kong construction contracts to contain provisions as to insurances such as Employees Compensation Insurance,Third Party Liability Insurance,Works Insurance and,on occasion,Professional Liability Indemnity Insurance.For employers,the insurance placement ensures that the contractual indemnities are b
206、acked by a financial institution that can afford to pay.For contractors,it provides a certain degree of protection to ensure that he has the means to pay in the event of mishaps.The insurances may be effected by the contractor(Contractor Controlled Insurance Programme or CCIP)or be taken out by the
207、employer(Employer Controlled Insurance Programme or ECIP).CCIP tends to be the most common insurance arrangement in Hong Kong,since the contractor is in control of all site operations and in a better position to manage its own site safety/risk.As a poor safety record will count against the contracto
208、r in premiums negotiation in the procurement of insurance,CCIP provides an incentive for better safety/risk management.On the other hand,ECIP placement leaves the control of the insurance programme in the hands of the employer,thereby offering the advantage of providing comprehensive insurance cover
209、age on a project-wide basis and hence minimizing overlaps and gaps in insurance coverage.Employees CompensationSection 40(1)of the Employees Compensation Ordinance states that no employer shall employ any employee unless there is a policy of Employees Compensation Insurance in place.The maximum pena
210、lty for failing to comply with this provision is two years in jail and a maximum fine of HK$100,000.GENERAL CONSTRUCTION DATA68Under the Ordinance,the principal contractor shall take out insurance for his employees and all of the employees of subcontractors with a limit of indemnity of HK$200 millio
211、n per event(or HK$100 million if the number of employees is less than 200).Since an injured worker could attempt to sue the employer,the employer will want to ensure the contractor has taken out insurance in joint names with the employer.Contractors All Risks InsuranceA Contractors All Risks policy
212、generally comprises(i)Third Party Insurance which covers injury to persons(except the Contractors own workmen)or damage to property(other than the Works),due to the carrying out of the Works which may or may not be caused by a default of the contractor.The policy is normally subject to a maximum rei
213、mbursement per incident but unlimited in the number of incidents,(ii)Contract Works Insurance which covers damage caused to the Works itself by risks not excluded from the policy and(iii)Plant&Equipment Insurance which covers the contractors plant and equipment used in the Works.Plant&Equipment Insu
214、rance is not normally required under the contract conditions and is voluntarily purchased by the contractor.Professional Indemnity InsuranceFor construction contracts involving contractors design,it is not uncommon for the employer to require the contractor and his design consultants and independent
215、 checking engineers to obtain insurance to cover their liability for design.For Government Contracts,the Professional Indemnity Insurance shall cover the contractors liability for design generally for the construction period and a further 6 years.GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA26
216、9 FORM NO.PURPOSERELEVANT SECTION OF REGULATION BA1Application for inclusion in the authorized persons register/structural engineers register/geotechnical engineers register/inspectors register.BOs 3(6)BA1AApplication for retention of name in the authorized persons register/structural engineers regi
217、ster/geotechnical engineers register/inspectors register.BOs 3(9B)BA1BApplication for restoration of name to the authorized persons register/structural engineers register/geo-technical engineers register/inspectors register.BOs 3(12)BA2Application for registration as a general building contractor/sp
218、ecialist contractor.BOs 8B BA2AApplication for renewal of registration as a registered general building contractor/registered specialist contractor.BOs 8C(2)BA2BApplication for restoration of name to the register of general building contractors/specialist contractors.BOs 8D(2)BA2CApplication for app
219、roval of technical director/other officer/person appointed to act for the purposes of the Buildings Ordinance for a registered general building contractor/registered specialist contractor.BOs 8B BA4Notice of appointment of authorized person and/or registered structural engineer and/or registered geo
220、tech-nical engineer.BOs 4,B(A)R 23 BA5Application for approval of plans of building works and/or street works and certificate of preparation of plans.BOs 14(1)(a),B(A)R 29&18A SPECIFIED FORMS FOR BUILDINGS ORDINANCE OR REGULATIONSSPECIFIED FORMS FOR BUILDINGS ORDINANCE OR REGULATIONS FOR HONG KONGGE
221、NERAL CONSTRUCTION DATA70Source:Buildings Department,Hong Kong,SAR.Refer to www.bd.gov.hk for further information.(Contd)BA6Stability certificate of authorized person and/or registered structural engineer.B(A)R 18 BA7Notice of urgent works required as a result of accident or emergency.BOs 19,B(A)R 2
222、8 BA8Application for consent to the commencement and carrying out of building works or street works.BOs 14(1)(b),B(A)R 31 BA8AApplication for concurrent consent to the commencement of building works.BOs 14(1)(b),B(A)R 31 BA9Application for renewal of consent to the carrying out of building works or
223、street works.BOs 20 BA10Notice of appointment of registered contractor,notice of commencement of building works or street works and undertaking by registered contractor.B(A)R 20,BOs 9 BA11Notice from a registered contractor on ceasing to be appointed in respect of building works or street works and
224、certificate in respect of that part of the building works or street works carried out by the registered contractor.B(A)R 24 BA12Certificate on completion of building works resulting in a new temporary building,a new building or part of a new building and application for temporary occupation permit i
225、n respect of such building or part.B(A)R 25,BOs 21 BA13Certificate on completion of building works resulting in a new building and appplication for permit to occupy such building.B(A)R 25,BOs 21 BA14Certificate on completion of building works not resulting in a new building or of street works.B(A)R
226、25&26 BA14ACertificate on completion of demolition works.B(A)R 25GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA271 FORM NO.PURPOSERELEVANT SECTION OF REGULATION BA15Notice of intended material change in the use of a building.BOs 25,B(A)R 47 BA16Application for modification of and/or exemption f
227、rom the provisions of the Buildings Ordinance and/or Reg-ulations made thereunder.BOs 42 BA17Application for permit to erect a temporary building.B(P)R 51 BA18Application for permit to erect a contractors shed.B(P)R 53 BA19Application for permit to erect hoardings,covered walkways or gantries.B(P)R
228、64 BA20Notice of technically competent person or persons appointed to supervise demolition works.B(DW)R 8 BA21Notice of nomination by authorized person or registered structural engineer or registered geotechnical engineer to temporary act in his stead.BOs 4(2),B(A)R 23(2)BA22Application for authoriz
229、ation to carry out and/or maintain groundwater drainage works.BOs 28B(1)BA23Application for grant/renewal of licence for an oil storage installation.B(OSI)R 6(1)&7(3)BA24Notification of change of business address/Contact Information.B(A)R 45SPECIFIED FORMS FOR BUILDINGS ORDINANCE OR REGULATIONSSPECI
230、FIED FORMS FOR BUILDINGS ORDINANCE OR REGULATIONS FOR HONG KONGGENERAL CONSTRUCTION DATA72Source:Buildings Department,Hong Kong,SAR.Refer to www.bd.gov.hk for further information.BA25Application for registration as a registered minor works contractor(company).B(MW)R 10(1)(B)BA25AApplication for rene
231、wal of registration of registered minor works contractor(company).B(MW)RS 14(1)BA25BApplication for restoration of name to the register of minor works contractors(company).B(MW)RS 18(1)BA25CApplication for registration of additional class and/or type of minor works for registered minor works contrac
232、tor(company).B(MW)RS 21(2)BA25DApplication for approval of nomination of additional authorized signatory/technical director of registered minor work contractor(company).B(MW)RS 24(1)BA25EApplication for review of decision of the Building Authority or recommendation of the Minor Works Contractors Reg
233、istration Committee in respect of registration of minor works contractor(company).B(MW)RS 26 BA26Application for registration as a registered minor works contractors(individual).B(MW)RS 10(1)(A)BA26AApplication for renewal of registration of registered minor works contractor(individual).B(MW)RS 14(1
234、)BA26BApplication for restoration of name to the register of minor works contractor(individual).B(MW)RS 18(1)BA26CApplication for registration of additional items of Class III minor works for a registered minor works contractor(individual).B(MW)RS 21(1)BA26DApplication for review of decision of the
235、Building Authority or recommendation of the Minor Works Contractors Registration Committee in respect of registration of minor works contractor(individual).B(MW)RS 26GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA273 Source:Buildings Ordinance,Hong Kong,SAR Refer to www.legislation.gov.hk for fu
236、rther information.SUMMARY OF BUILDING REGULATIONS FOR HONG KONG DESCRIPTIONNUMBER OFREGULATIONSAdministration 48Appeal 13Construction 93Demolition Works 14Energy Efficiency 5Minor Works 67Minor Works(Fees)20Inspection and Repair 35Oil Storage Installations 15Planning 74Private Street and AccessRoads
237、 28Refuse Storage and Material Recovery Chambers and Refuse Chutes 30Standards of Sanitary Fitments,Plumbing,Drainage Works and Latrines 97Ventilating Systems 8GENERAL CONSTRUCTION DATA74(Contd)Source:Buildings Ordinance,Hong Kong,SAR Refer to www.legislation.gov.hk for further information.PERCENTAG
238、E SITE COVERAGE AND PLOT RATIOS FOR HONG KONG OPEN SPACE ABOUT DOMESTIC BUILDINGSItemClass of siteOpen space required1.Class A site Not less than one-half of the roofed-over area of the building2.Class B siteNot less than one-third of the roofed-over area of the building3.Class C siteNot less than o
239、ne-quarter of the roofed-over area of the buildingDEFINITIONClass A Site :Not being a class B or class C site,that abuts on one specified street not less than 4.5 m wide or on more than one such street.Class B Site :A corner site that abuts on 2 specified streets neither of which is less than 4.5 m
240、wide.Class C Site :A corner site that abuts on 3 specified streets none of which is less than 4.5 m wide.GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA275 Height ofBuildingin metresDOMESTIC BUILDINGSPercentage site coveragePlot RatioClassAsiteClassBsiteClassCsiteClassAsiteClassBsiteClassCsite N
241、ot over 15 m66.675803.33.754.0 15 m to 18 m6067723.64.04.3 18 m to 21 m5662673.94.34.7 21 m to 24 m5258634.24.65.0 24 m to 27 m4955594.44.95.3 27 m to 30 m4652554.65.25.5 30 m to 36 m4247.5505.05.76.0 36 m to 43 m3944475.46.16.5 43 m to 49 m3741445.96.57.0 49 m to 55 m3539426.37.07.5 55 m to 61 m343
242、8416.87.68.0 Over 61 m33.3337.5408.09.010.0PERCENTAGE SITE COVERAGE AND PLOT RATIOS FOR HONG KONGSource:Buildings Ordinance,Hong Kong,SAR Refer to www.legislation.gov.hk for further information.GENERAL CONSTRUCTION DATA76NON-DOMESTIC BUILDINGSPercentage sitecoveragePlot RatioClassAsiteClassBsiteClas
243、sCsiteClassAsiteClassBsiteClassCsite10010010055597.597.597.55.85.85.89595956.76.76.79292927.47.47.48990908.08.18.18587888.58.78.88082.5859.59.910.27577.58010.510.811.26972.57511.011.612.06467.57011.512.112.66062.56512.212.513.06062.565151515GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA277 Gree
244、n Building CertificationsThe leading and nationally recognized environmental assessment tool for buildings in China is the Green Building Evaluation Standard(GB-T50378-2014)published by the Ministry of Housing and Urban-Rural Development(MOHURD).The Green Building Evaluation Standard applies to all
245、types of civil buildings,including residential buildings,commercial buildings,governmental offices and other public facilities.The Green Building Evaluation Standard rates applicable buildings under a three star system certified by the Green Building Label based on several environmental factors such
246、 as indoor air quality and energy and water efficiency.China also adopted other evaluation standards for other building types,such as green industrial buildings and green hospital.The Green Building Evaluation Standard is generally not mandatory for new or refurbished buildings.Nevertheless,under th
247、e Green Building Work Plan in 2013,certain government-invested buildings,affordable housing in some big cities and public buildings over 20,000 square meters must fully adopt the Green Building Evaluation Standard.Besides,there may be local rules requiring certain types of buildings to comply with t
248、he Green Building Evaluation Standard.For example,in Beijing and Shanghai,all new buildings are required to meet the one-star requirements except that all new large-scale public buildings(i.e.public buildings with over 20,000 EVOLVING REGULATIONS FOR GREENBUILDINGS IN CHINA Provided by:Mr.Rico Chan
249、Partner,Baker McKenzie+852 2846 GENERAL CONSTRUCTION DATA78(Contd)square meters of floor area)are required to meet the two-star requirements.Further,Chinese developers are encouraged to adopt the Green Building Evaluation Standard for residential and commercial projects because there are certain spe
250、cial government funds or other financial awards specifically designed for environment protection purposes.It should be noted that the MOHURD circulated the new Green Building Evaluation Standard(Draft for Consultation)on 20 September 2018,which purported to,among other things,reform the evaluation s
251、ystem,add a new grade to the three-star system,expand the meaning of green buildings and lift the requirements on green building standards.The consultation period ended on 20 October 2018.The new Green Building Evaluation Standard is yet to be published.Buildings and Energy EfficiencyChina has estab
252、lished a nationwide energy performance evaluation and labelling system the Civil Building Energy Performance Evaluation and Labelling scheme through the Interim Measures for the Administration of Energy Performance Evaluation and Labelling of Civil Buildings 2008(“Interim Measures 2008”).The evaluat
253、ion and labelling are conducted in two stages for a single building:First stage is a theoretical prediction of the buildings energy performance.Provided by:Mr.Rico Chan Partner,Baker McKenzie+852 2846 GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA279 Buildings and Energy Efficiency(Contd)The se
254、cond stage is the actual evaluation of a buildings actual energy use after it has been put to use.If the buildings energy performance satisfies the requirements of the scheme,a certificate is issued to the building owner for each of the two stages.But it should be noted that,though the nationwide en
255、ergy performance evaluation and labelling system has been established through the Interim Measures 2008,China only launched a pilot of such scheme for certain provinces and cities in respect of a limited scope of projects.For example,office buildings of government authorities or large-scale public b
256、uildings that are conducting comprehensive energy conservation improvements and have applied for government support are required to go through the evaluation and labelling procedures.Nonetheless,more and more cities that are not part of the pilot program have been voluntarily participating in the sc
257、heme.Some provinces and municipalities have introduced their own implementation rules of the Civil Building Energy Performance Evaluation and Labelling scheme.Other than the Civil Building Energy Performance Evaluation and Labelling scheme,China has also adopted various policies addressing the reduc
258、tion of energy consumption and carbon emission of buildings.The 13th EVOLVING REGULATIONS FOR GREENBUILDINGS IN CHINA Provided by:Mr.Rico Chan Partner,Baker McKenzie+852 2846 GENERAL CONSTRUCTION DATA80Five-Year Plan published in March 2016 acknowledged the importance of the various environmental is
259、sues.Following the 13th Five-Year Ecological Environment Protection Plan published in November 2016,we have seen the introduction of new policies encouraging the use and perfecting and enlarging the enforcement scope of the Green Building Evaluation Standard described above,further implementing the
260、2013 Green Building Work Plan so that 50%of the newly built buildings in the Beijing,Tianjin and Hebei area are green buildings.The 13th Five-Year Building Energy-Saving and Green Building Development Plan,published in February 2017,sets targets such as over 50%of the new buildings in urban areas sh
261、all be green buildings,at least 500 million square meters of residential buildings shall be renovated for energy saving.More recently at the 19th National Congress of the Communist Party of China held in October 2017,further emphasis has been put on the countrys agenda on environmental protection an
262、d the need to push for green development and market-oriented green technologies innovation.Provided by:Mr.Rico Chan Partner,Baker McKenzie+852 2846 GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA281 Government Regulatory MeasuresAs compared to some other countries,at the moment investors and dev
263、elopers in China may not yet be fully motivated by the environmental and social benefits of green buildings.The Chinese central government currently uses planning and zoning regulations and polices to further control and regulate the development of green buildings.For example,under the 2013 Green Bu
264、ilding Work Plan,green initiatives,such as the use of renewable energies,must be included in the urban planning by local authorities.It also requires local authorities to strengthen the review and examination of a buildings design and construction plan to ensure that the building is in compliance wi
265、th the energy conservation standards.A number of major cities have also published local regulations administering and promoting development of green buildings.For example,apart from the requirements of Beijing and Shanghai that all new buildings must meet the one-star requirements while all new larg
266、e-scale public buildings must meet the two-star requirements mentioned above,more recently under the Measures for Promoting Green Buildings in Shenzhen published in February 2017,newly-built civil buildings in Shenzhen are required to reach at least one-star certification under the Green Building Ev
267、aluation Standard or the bronze certification under local evaluation standard.Per the 13th Five-Year Plan for the Development of Building Energy Provided by:Mr.Rico Chan Partner,Baker McKenzie+852 2846 EVOLVING REGULATIONS FOR GREENBUILDINGS IN CHINAGENERAL CONSTRUCTION DATA82Efficiency and Green Bu
268、ildings issued by the MOHURD in February 2017,the Chinese government is aiming for all new buildings in(1)all cities/towns in eastern China,(2)all provincial capital cities and major cities in central China,and(3)all provincial capital cities in western China,to achieve the minimum requirements unde
269、r the Green Building Evaluation Standard.In addition to the above,the PRC Environmental Protection Tax Law which came into force on January 1,2018 imposes environmental protection taxes on building owners for carbon emission and waste disposal into the environment.Many building owners have been requ
270、ired to pays such tax.With the implementation of the environmental protection taxes,the real estate developers are more keen to develop green buildings in the future.Provided by:Mr.Rico Chan Partner,Baker McKenzie+852 2846 GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA283 PROCUREMENT STRATEGIES
271、 AND FORM OF CONTRACTSGeneralA host of contract procurement approaches have emerged in the past decade.Each procurement approach has characteristics,benefits and restrictions peculiar to it.There is no single approach that fits all situations.The key to a successful procurement arrangement lies in m
272、arrying the right procurement approach with the particular contract in question.This calls for a systematic identification of clients requirements and evaluation of the decision criteria relating to the procurement strategy.Common criteria for procurement selectionSpeed Fast-tracking projects genera
273、lly favor arrangements that offer opportunities to overlap the design and construction processes e.g.design&build contracting and management contracting.Cost certainty Reliability of budgets is one of the prime concerns of most clients.Traditional lump sum bills of quantities and design&build contra
274、cting offer the highest degree of price certainty.Complexity Projects which are technologically advanced or highly serviced generally favor the use of traditional contracting where the design will be well developed prior to the tendering stage.Procurement arrangements such as construction management
275、 and management contracting that allow early involvement of management contractor are also considered suitable for complex projects.Responsibility For projects using traditional contracting,the contractor is employed to build what the clients design team has documented.Therefore,any dispute as to qu
276、ality of works has to be resolved into a design or workmanship issue in the very first place.By contrast,design&build contracts offer the clearest division of responsibility where the design&build contractor will be the sole point of responsibility.GENERAL CONSTRUCTION DATA84Common standard form of
277、contract in Hong KongIn 2005,the Hong Kong Institute of Architects,the Hong Kong Institute of Construction Managers and the Hong Kong Institute of Surveyors jointly published a new standard form of building contract which is designed particularly for private projects where bills of quantities are pr
278、ovided.In 2006,the three institutes published another standard form of building contract tailored for private projects without bills of quantities.For public works,the conditions of contracts are often based on one of the following standard forms:-The Government of the HKSAR,General Conditions of Co
279、ntract for Building Works 1999 EditionThe Government of the HKSAR,General Conditions of Contract for Civil Engineering Works 1999 EditionThe Government of the HKSAR,General Conditions of Contract for Electrical and Mechanical Engineering Works 1999 EditionThe Government of the HKSAR,General Conditio
280、ns of Design and Build Contracts 1999 EditionNew Engineering Contract(NEC)NEC is the abbreviation for“New Engineering Contract”which is a suite of contracts published by the Institute of Civil Engineers in the United Kingdom.The NEC has become increasingly popular in the public sector of Hong Kong.I
281、n a Development Bureau paper for LegCo dated 25 February 2014,it was reported that“Government has been using the NEC form Currently,there are 10 public works projects with construction contracts using NEC form.We will use(Contd)GENERAL CONSTRUCTION DATA GENERAL CONSTRUCTION DATA285 New Engineering C
282、ontract(NEC)(Contd)the NEC form more extensively in different works categories(including building works,civil engineering works etc.),contract types and contracts of different prices.”The NEC family covers not only construction contracts between employers and contractors but also professional servic
283、es for employers to engage consultants and adjudicators.The Engineering&Construction Contract(ECC)of the NEC family of contracts contains standard options that cover lump sum contracts,target cost contracts,cost reimbursable contracts and management contracts.The ECC contract claims to be radically
284、different to traditional construction contracts in that it facilitates good management and encourages collaborative working.For instance,both the Project Manager and the Contractor are obliged to give early warnings and to hold early warning meetings to mitigate the effects of change in contract sco
285、pe.Great emphasis is also given to the programme which has to be accepted by the Project Manager and to be kept updated by the Contractor.The Project Manager is to maintain a Risk Register to record risks that have arisen during the contract and the decisions of how to deal with them.Arcadis was the
286、 NEC Advisor for Fuk Man Road Nullah Improvement Works the very first NEC pilot project in Hong Kong.Our work with the project team for that pilot project reveals that it is not only the letter or the form of the NEC that brings about the advantages of flexibility and promotion of good project manag
287、ement.The success lies in a change in mindset and attitudes and the establishment of mutual trust.PROCUREMENT STRATEGIES AND FORM OF CONTRACTSGENERAL CONSTRUCTION DATA86Procurement Strategy TablePROJECT CRITERIARELATIVE DEGREE OF APPROPRIATENESSParameterObjectivesTraditionalManagementContractingCons
288、tructionManagementDesign andConstructTimingEarly CompletionLowHighHighHighCostPre construction price certaintyHighLowLowHighQualityDesign prestigeHighHighHighLowVariationsAvoid prohibitive cost of changeHighModerateModerateLowComplexityTechnically advance or highly complex buildingModerateHighHighLo
289、wResponsibilitySingle contractual linkLowLowLowHighProfessional ResponsibilityNeed for design team to report to sponsorHighHighHighLowRisk AvoidanceDesire to transfer complete riskLowLowLowHighDamage RecoveryFacility to recover costs direct from contractorModerateLowLowHighBuildabilityContractor inp
290、ut to economic constructionLowHighHighHigh3PROPERTYProperty CommentaryProperty IndicatorsGross Floor Area(GFA)Calculations in Hong KongGross Floor Area(GFA)Calculations in PRCConstruction Floor Area(CFA)DefinitionPROPERTY PROPERTY389 PROPERTY COMMENTARYHONG KONGS PROPERTY MARKET IN 2018Economic over
291、viewThe Hong Kong economy sustained strong momentum in the first half of 2018,expanding by 4%in real terms over the previous year,riding on the broadly positive global economic environment.Nonetheless,Hong Kongs economic growth momentum began to slow down in Q3 while uncertainties in the global econ
292、omy have increased markedly.The economy eased to expand 2.9%year-on-year(YoY)in Q3.It was the weakest growth rate since the third quarter of 2016.In the first three quarters of 2018,Hong Kongs real GDP rose 3.7%YoY.The labour market conditions remain tight,with the seasonally adjusted unemployment r
293、ate stood at 2.8%for the three months ending October 2018,the lowest level in more than 20 years.Inflation has remained mild,increasing 2.4%YoY in the first 10 months of 2018.The local stock market continued to rally in early 2018 and reached a record high in late January,but experienced corrections
294、 thereafter amid market expectation for successive US interest rate hikes and intensified concerns over the US-China trade war.The Hang Seng Index dropped for more than 13%since beginning of the year till mid-December.On the other hand,Hong Kong remains one of the worlds largest IPO markets,with fun
295、draising through IPO listings hit an eight-year high in 2018 at HK$300 billion.The retail and tourism sectors have continued to recover in 2018.Total visitor arrivals increased 9.7%YoY in the first Provided by:PROPERTY90(Contd)10 months,while total retail sales value increased 10.6%YoY.The openings
296、of two major infrastructure projects namely Hong Kong-Zhuhai-Macau Bridge and the High Speed Rail(Hong Kong Section)are expected to further boost Mainland visitors arrivals.Growth is poised to decelerate in 2019 as multiple downside risks loom.Most notably,the weak fundamentals in China and its trad
297、e war with the US will dampen investment and external demand.Furthermore,rising interest rates will weigh on private consumption,and erode consumer sentiment in the financial and housing markets.Local business sentiment has become more cautious in recent months.We expect Hong Kongs real GDP to grow
298、around 3%per annum from 2019 to 2021.ResidentialTotal residential sales reached 55,477 units in the first 11 months of 2018,down slightly by 1.4%compared with the same period in 2017.The transaction volume has been dropping in the second half of the year,largely attributable to the dip in secondary
299、sales for 16.4%YoY in the July-November period.As at November 2018,the residential price has decreased by 3.7%since August 2018 after increasing for 28 months in a row,according to the Rating and Valuation Department.After rising for 11.7%in the first seven months of the year,the price decreased for
300、 3 consecutive months.Provided by:PROPERTY PROPERTY391 PROPERTY COMMENTARYResidential(Contd)Residential price growth in the January-November period has slowed down to 7.8%.Sellers have started to accept the fact that the market has lost momentum for further price growth.Up to 25,800 units of new res
301、idential supply,including unsold and presold units,are expected to come onto the market in 2019.Nonetheless,there is concern for sufficient demand to take up this mounting supply amid market uncertainties.Mass and luxury home prices are expected to fall 10%next year,while super luxury residential pr
302、ices would drop 5%.With market players being increasingly cautious,sales transaction volume is expected to decrease from around 60,000 units in 2018 to 52,000-55,000 units in 2019.OfficeThe Hong Kong Grade-A office sales market was robust in 2018.While the Rating and Valuation Departments statistics
303、 showed that the number of office sales transactions fell 26%YoY to 1,226 in the first 10 months of 2018,a number of significant en-bloc transactions were recorded during the period,including The Center in Central,18 King Wah Road in North Point and Octa Tower in Kowloon Bay.On the leasing front,Mai
304、nland companies and co-working space providers vied for the limited office spaces in Central in the first three quarters of the year.But the intensifying Sino-US trade conflicts thereafter resulted in a weakening Provided by:PROPERTY92demand.In Kowloon,leasing demand was underpinned by companies tha
305、t decentralised from the Hong Kong Island for cost saving.Demand for Tsim Sha Tsui office was particularly strong,driven by the semi-retail sector and the opening of High Speed Rail in nearby West Kowloon.The average rent of Grade-A offices in Hong Kong rose 7.0%YoY in November,according to Knight F
306、rank Research.Rents on the Hong Kong Island increased 6.2%YoY,with Central growing the fastest(8.2%).Office rents in Tsim Sha Tsui and Kowloon East were up 13.5%and 2.9%respectively.Looking ahead,Hong Kongs Grade-A office market will lose momentum amidst an economic slowdown arose from trade war.It
307、is expected that very few Mainland firms will look for new office space,who have been the major force driving Central office demand.Vacancy in Central will rise,and hence rent in the area is forecasted to fall modestly in 2019.RetailHong Kongs retail sector enjoyed strong performance in the first ha
308、lf of 2018 with double-digit growth,buttressed by robust economy,increased in visitor arrivals and a record-low unemployment rate in Hong Kong.In February 2018,retail sales increased by 29.8%to HK$45.2 billion,which was the strongest growth in 8 years.For the first 10 months in 2018,the total retail
309、 sales recorded a YoY increase of 10.6%in value and 9.1%in volume.(Contd)Provided by:PROPERTY PROPERTY393 PROPERTY COMMENTARYRetail(Contd)Rebounding retail sales,however,had little impact on rents for retail space in the prime street shopping areas during the first ten months of 2018.According to th
310、e Knight Frank Prime Street Shop Rental Index,rents for retail space in prime streets dropped around 5%in first three quarters of 2018.The downward adjustment in retail rents is expected to continue in 2019,with plenty of caution remains.Transactions for retail property remained stable in 2018.The s
311、ales volume of retail properties in the first eleven months of 2018 was up 3.1%YoY.The yield for retail properties has been flat in the past 12 months.Stepping into 2019,the current weak momentum in Hong Kongs retail market is expected to persist,due to external uncertainties.It is forecasted that t
312、he prime street retail rents will continue to drop by 5%in 2019 amid wealth effect,trade war and other external factors.With retail sales growth narrowing towards the end of 2018,retailers are once again being cautious.Rents in shopping centres will continue to grow steadily but at a slower pace.Ind
313、ustrialSales transaction of flatted factory units reached 4,531 in the January-October period of 2018,up 13.2%compared with the same period last year,according to the Rating and Valuation Department.New completion of flatted factory space was 21,700 sqm in the first 10 months this year,decreased sli
314、ghtly by 4.0%YoY.The new supply in 2018 is by far the second least in last 5 years.Provided by:PROPERTY94Transaction prices of flatted factory grew 10.6%from January to October this year,on par with the growth in the same period in 2017.Rents of flatted factories increased 5.4%during the same period
315、,compared with 3.9%last year.Flatted factory yields dropped from 2.9%in October 2017 to 2.7%in October 2018,due to faster growth in prices than rents.Announced in 2018 Policy Address,the Hong Kong Government has decided to reactivate the revitalisation scheme for industrial buildings.The new scheme
316、will include relaxing the waiver application policy,allowing relaxation of the maximum permissible non-domestic plot ratio by 20%for redevelopment projects,and permitting revitalisation of industrial buildings to provide transitional housing.It is expected that developers and investors will be more
317、active in acquiring industrial buildings for redevelopment.Provided by:PROPERTY PROPERTY395 HONG KONG GRADE-A OFFICE PRICE HONG KONG GRADE-A OFFICE VACANCY RATESSource:Knight Frank ResearchPROPERTY INDICATORS*November figures*November figuresSource:Knight Frank ResearchPROPERTY96 HONG KONG GRADE-A O
318、FFICE RENTAL VALUES HONG KONG GRADE-A OFFICE SUPPLYSource:Knight Frank ResearchSource:Rating and Valuation Department/Knight Frank Research*November figuresPROPERTY PROPERTY397 FEATUREBUILDING(PLANNING)REGULATIONREMARKSGeneral floor areaAccountableArea within outer surface of external walls.Basement
319、AccountableBalcony/utility platform*AccountableNon-accountable if for residential buildings and be open on at least 2 sides,max.50%area grantable.Curtain wall/claddingNon-accountableNon-accountable if:1.The curtain wall system itself does not form part of the structural system of the parent building
320、;2.The system does not result in any additional floor area at a floor level;3.The projection of the system from the outer face of the structural elements does not exceed 300 mm.External wall finishes(including bay windows)*Non-accountablePrecast facades may,subject to conditions,be excluded from GFA
321、 calculation.Plant roomsNon-accountableSubject to justification with reasonable plant layouts.Staircases and lift shaftsAccountableExcept staircases and lift shafts solely serving non-accountable areas.Covered public carparking spaceAccountableCovered private carparking spaceNon-accountableApplicabl
322、e only for spaces serving users of the building required under local standard and built below ground.Lobby*AccountableConcession may be granted for lift lobbies subject to conditions.GROSS FLOOR AREA(GFA)CALCULATIONS IN HONG KONGGROSS FLOOR AREA(GFA)CALCULATIONS IN HONG KONGPROPERTY98Disclaimer:GFA
323、calculations are subject to various legislation and practice notes.All cases of accountable or non-accountable GFA are subject to individual conditions.The above presents a brief summary only and users are advised to seek professional advice from authorized persons.Arcadis herewith disclaims any lia
324、bility that may arise from unsolicited use of the information given above.*Total concessions of these areas are subject to a cap of 10%of the total GFA and prerequisites with sustainability designs.CanopyAccountableNon-accountable when the canopy solely serves as protection against weather and falli
325、ng object.Refuge floorNon-accountableSpace below elevated ground floorAccountableNon-accountable if the covered areas are clearly intended for and designed as playground or dedicated as public passage.Covered walkways*AccountableOpen-sided covered walkways for common areas in residential development
326、s may be exempted,subject to the proposed walkways being not for commercial use.Loading and unloading bayNon-accountableApplicable if required under local standard/lease and built below ground.Refuse storage chambers,refuse storage,refuse chutes,refuse hopper roomsNon-accountableFloor space inside s
327、loping roofAccountableCovered area on roof-topsNon-accountableNon-accountable for plant rooms and staircases only.Recreational facilities*AccountableNon-accountable subject to conditions.Spaces for watchmen and management staff*AccountableNon-accountable subject to conditions.External staircasesAcco
328、untableNon-accountable if situated in non-accountable areas.PROPERTY PROPERTY399 FEATURENATIONAL STANDARD-STANDARD MEASUREMENT FOR CONSTRUCTION AREA OF BUILDING(GB/T 50353-2005)REMARKS FOR BEIJING,SHANGHAI AND GUANGZHOUGeneral floor areaAccountableArea within outer surface of external insulation.Sha
329、nghai:External insulation is exempted from calculation of plot ratio.BasementAccountable1.Beijing:Non-accountable2.Shanghai:Non-accountable.3.Guangzhou:Accountable for GFA except where the floor space is solely for plant rooms or carpark.Balcony/utility platformAccountableCurtain wall/claddingAccoun
330、tableExcept decorative type of curtain wall.External wall finishes(including bay windows)Non-accountablePlant roomsAccountableStaircases and lift shaftsAccountableCovered public carparking spaceAccountableCovered private carparking spaceAccountableLobbyAccountableGROSS FLOOR AREA(GFA)CALCULATIONS IN
331、 PRCGROSS FLOOR AREA(GFA)CALCULATIONS IN PRCPROPERTY100Disclaimer:GFA calculations are subject to various legislation and practice notes.All cases of accountable or non-accountable GFA are subject to individual conditions.The above presents a brief summary only and users are advised to seek professi
332、onal advice from authorized persons.Arcadis herewith disclaims any liability that may arise from unsolicited use of the information given above.CanopyAccountableNon-accountable subject to width of the canopy not exceeding 2.1m.Refuge floorAccountable1.Shanghai:Non-accountable.2.Guangzhou:Only refuge
333、 areas on refuge floor are non-accountable.Space below elevated ground floorAccountableNon-accountable for GFA if for the usage of walkway,green,public amenities or similar public function.Covered walkwaysAccountableLoading and unloading bayAccountableNon-accountable if not roofed over.Refuse storage chambers,refuse storage,refuse chutes,refuse hopper roomsAccountableNon-accountable if not roofed
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