dls contract

The following handbook of information relating to the construction industry has been compiled by:

Davis Langdon & Seah Hong Kong Limited38/F Two Landmark East 100 How Ming Street Kwun Tong, Kowloon Hong Kong Telephone : (852) 2830 3500Fax : (852) 2576 0416Email : [email protected] : www.dlsqs.com

© Davis Langdon & Seah Hong Kong Limited 2012

All rights reserved. No part of this publication may be re-produced or copied in any form without prior written permission from Davis Langdon & Seah Hong Kong Limited.

The information contained herein should be regarded as indicative and for general guidance only. Whilst 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 2011.

Davis Langdon & Seah Hong Kong Limited would like to acknowledge the assistance of Knight Frank and Baker & McKenzie in providing additional data and information for this publication.

ISO 9001 : 2008Certificate No. : CC271

Published by Davis Langdon & Seah Hong Kong LimitedPrinted : January 2012 by R&R Publishing Limited

Electronic Cost Handbook

We have a number of options for accessing an electronic version of our Cost Handbook: 1. Download the PDF version from our website to your

Smart Phone. Install an appropriate file management application

(e.g. USB Disk etc) from the App Store or Android Market

Using your phone’s web browser, go to www.dlsqs.com Click “Research” at the top menu Click “Cost Handbook” at menu on the left Click “Construction Cost Handbook China &

Hong Kong 2012” Click “Download” Click "Open in USB Disk" (if you have used the

USB Disk application) from your Smart Phone You can then go to USB Disk to read the

downloaded 2012 Construction Cost Handbook, even when your Smart Phone is in Airplane mode

2. Alternatively, scan the QR code below to directly access the PDF file. From there follow the same instructions as above.

3. Or download our App to your iPhone or iPad by searching for DLS Cost Handbook in the App Store (Note: Android version coming soon).

TABLE OF CONTENTS

1 2

Table of Contents 1About Us 3Quality Management System 4Calendars 5

1. CONSTRUCTION COST DATA

Construction Costs for Hong Kong 9M&E Costs for Hong Kong 11ACMV Costs for Various Designs and Developments in Hong Kong 13Construction Cost Specification for Hong Kong 15Fit-out Costs for Hong Kong 17Unit Costs for Ancillary Facilities for Hong Kong 19Construction Costs for Selected Asian Cities 21M&E Costs for Selected Asian Cities 27Major Rates for Selected Asian Cities 33Construction Costs for Selected International Cities 39

2. GENERAL CONSTRUCTION DATA

2012 Outlook 43Building Cost Trends in Hong Kong 47Labour Index in Hong Kong 50Material Prices in Hong Kong 51Progress Payments 54Estimating Rules of Thumb and Design Norms for Hong Kong 55Construction Activity in Hong Kong 59Construction Value in Hong Kong 60FIREE Recordals Tracker: November 2011 Update 61Hong Kong General Construction Insurance 65Specified Forms for Buildings Ordinance or Regulations for Hong Kong 67Summary of Building Regulations for Hong Kong 69Percentage Site Coverage and Plot Ratios for Hong Kong 70

3. PROPERTY

Property Commentary 75Property Indicators 79Gross Floor Area (GFA) Calculations in Hong Kong 81Gross Floor Area (GFA) Calculations in PRC 83Construction Floor Area (CFA) Definition 85

4. FINANCIAL

Financial Definitions 87 Financial Formulae 88Mortgage Repayment Table 89Composite CPI 90Exchange Rates 91Currency Charts 93Prime Rates 95Hang Seng Index 97

5. OTHER INFORMATION

Utility Costs for Selected Asian Cities 99Conversion Factors 103IDD Codes and Time Differences 105Public Holidays 107Davis Langdon & Seah Professional Services 117DLS Infrastructure Team 119DLS Interior Fitting Out Team 121DLS Project Monitoring Team 123DLS Sustainability Services Team 126Directory of Offices 129Telephone Directory 149

DAVIS LANGDON & SEAH

ABOUT US

First established in 1934 in Singapore under the name "Waters and Watson" we survived the Second World War to become the pre-eminent Quantity Surveying and Construction Cost Management firm in Asia - operating for many years as Langdon Every and Seah. One of our early partners, Mr. Seah Mong Hee, was the first Asian Chartered Surveyor (RICS) in the world.

Our Hong Kong office opened in 1949 and we quickly established ourselves as the leading firm in the profession.

Following a series of global mergers, Davis Langdon & Seah International was founded in 1990. As we begin 2012, Davis Langdon & Seah has grown to almost 3,000 staff in 40 offices across Asia, and continues to cooperate with Davis Langdon in Europe & Middle East, USA, Australia & New Zealand and Africa - forming a network of over 100 offices across more than 30 countries.

We entered the China market in 1984, introducing modern cost management techniques to its newly evolving construction market. Our initial commissions were from Hong Kong and foreign developers investing in China, although we have since then further developed our client base to include state owned enterprises and local private developers. We now have 16 offices across China located in Hong Kong, Shanghai, Beijing, Guangzhou, Shenzhen, Macau, Chongqing, Wuhan, Tianjin, Shenyang, Chengdu, Foshan, Hangzhou, Dalian, Sanya and Suzhou with a total staff count of around 1,400.

For over 60 years, DLS Hong Kong/China has been proactively providing world-class construction consulting services for all types of building and infrastructure projects. We are committed to further extending our professional expertise to related fields and further expanding our activities in China to support the needs of our clients as they explore one of the world's largest and fastest growing markets.

3 4

QUALITY MANAGEMENT SYSTEM

Nowadays an effective Quality Management System is one of the core elements in any kind of business. Davis Langdon and Seah Hong Kong Limited aims to provide not merely quant i ty surveying services but also the highest quality services to meet clients' requirements.

We launched our Quality Management System in 1993 and have continually upgraded our quality standards since then.

Davis Langdon & Seah Hong Kong Limited achieved certification to ISO 9001:1987 by the Hong Kong Quality Assurance Agency in October 1994 to cover quantity surveying services. We were certified to ISO 9001:1994 in October 1995.

The following further displays our commitment to the continual improvement of our Quality Management System:

(i) June 2009 saw Davis Langdon & Seah Hong Kong Limited being certified to the ISO 9001:2008 standard.

(ii) In December 2009, the Hong Kong office of Davis Langdon & Seah China Limited was certified to the ISO 9001:2008 standard.

(iii) In September 2010, Davis Langdon & Seah Macau Limited was certified to the ISO 9001:2008 standard.

Plans are currently well advanced to further extend our HKQAA ISO certification to all our offices in China.

2 0 1 4

2 0 1 3

2 0 1 2

2 0 1 1 2011 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 1 2 3 4 5 1 2 3 4 5 2 3 4 5 6 7 8 6 7 8 9 10 11 12 6 7 8 9 10 11 12 9 10 11 12 13 14 15 13 14 15 16 17 18 19 13 14 15 16 17 18 19 16 17 18 19 20 21 22 20 21 22 23 24 25 26 20 21 22 23 24 25 26 23/30 24/31 25 26 27 28 29 27 28 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 1 2 3 4 5 6 7 1 2 3 4 3 4 5 6 7 8 9 8 9 10 11 12 13 14 5 6 7 8 9 10 11 10 11 12 13 14 15 16 15 16 17 18 19 20 21 12 13 14 15 16 17 18 17 18 19 20 21 22 23 22 23 24 25 26 27 28 19 20 21 22 23 24 25 24 25 26 27 28 29 30 29 30 31 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 1 2 3 4 5 6 1 2 3 3 4 5 6 7 8 9 7 8 9 10 11 12 13 4 5 6 7 8 9 10 10 11 12 13 14 15 16 14 15 16 17 18 19 20 11 12 13 14 15 16 17 17 18 19 20 21 22 23 21 22 23 24 25 26 27 18 19 20 21 22 23 24 24/31 25 26 27 28 29 30 28 29 30 31 25 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 1 2 3 4 5 1 2 3 2 3 4 5 6 7 8 6 7 8 9 10 11 12 4 5 6 7 8 9 10 9 10 11 12 13 14 15 13 14 15 16 17 18 19 11 12 13 14 15 16 17 16 17 18 19 20 21 22 20 21 22 23 24 25 26 18 19 20 21 22 23 24 23/30 24/31 25 26 27 28 29 27 28 29 30 25 26 27 28 29 30 31

2012 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 7 1 2 3 4 1 2 3 8 9 10 11 12 13 14 5 6 7 8 9 10 11 4 5 6 7 8 9 10 15 16 17 18 19 20 21 12 13 14 15 16 17 18 11 12 13 14 15 16 17 22 23 24 25 26 27 28 19 20 21 22 23 24 25 18 19 20 21 22 23 24 29 30 31 26 27 28 29 25 26 27 28 29 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 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 21 22 23 24 25 16 17 18 19 20 21 22 29 30 31 26 27 28 29 30 31 24/30 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 26 27 18 19 20 21 22 23 24 16 17 18 19 20 21 22 28 29 30 31 25 26 27 28 29 30 23/30 24/31 25 26 27 28 29

2013 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 16 20 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 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 15 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 14 13 14 15 16 17 18 19 10 11 12 13 14 15 16 15 16 17 18 19 20 21 20 21 22 23 24 25 26 17 18 19 20 21 22 23 22 23 24 25 26 27 28 27 28 29 30 31 24 25 26 27 28 29 30 29 30 31

2014 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 5 6 7 8 9 10 11 2 3 4 5 6 7 8 2 3 4 5 6 7 8 12 13 14 15 16 17 18 9 10 11 12 13 14 15 9 10 11 12 13 14 15 19 20 21 22 23 24 25 16 17 18 19 20 21 22 16 17 18 19 20 21 22 26 27 28 29 30 31 23 24 25 26 27 28 23/30 24/31 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 1 2 1 2 3 4 5 6 6 7 8 9 10 11 12 3 4 5 6 7 8 9 7 8 9 10 11 12 13 13 14 15 16 17 18 19 10 11 12 13 14 15 16 14 15 16 17 18 19 20 20 21 22 23 24 25 26 17 18 19 20 21 22 23 21 22 23 24 25 26 27 27 28 29 30 31 24/31 25 26 27 28 29 30 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 2 3 4 1 1 2 3 4 5 6 5 6 7 8 9 10 11 2 3 4 5 6 7 8 7 8 9 10 11 12 13 12 13 14 15 16 17 18 9 10 11 12 13 14 15 14 15 16 17 18 19 20 19 20 21 22 23 24 25 16 17 18 19 20 21 22 21 22 23 24 25 26 27 26 27 28 29 30 31 24/30 24 25 26 27 28 29 28 29 30 31

CALENDARS

5 6

CONSTRUCTION COST DATAConstruction Costs for Hong Kong

M&E Costs for Hong Kong ACMV Costs for Various Designs and

Developments in Hong Kong

Construction Cost Specification for Hong Kong Fit-out Costs for Hong Kong

Unit Costs for Ancillary Facilities for Hong Kong Construction Costs for Selected Asian Cities

M&E Costs for Selected Asian Cities Major Rates for Selected Asian Cities

Construction Costs for Selected International Cities


CONSTRUCTION COSTS FOR HONG KONG

The a

bove

costs

are a

t 4th

Qua

rter 2

011 l

evels

.

CO

NST

RU

CTI

ON

CO

STS

FOR

HO

NG

KO

NG

9 10

BU

ILD

ING

TYP

EH

K$/

m2

BU

ILD

ING

SER

VIC

ESTO

TAL

DO

MES

TIC

Publi

c ren

tal ho

using

, high

rise

6,0

55

- 6,8

10

1,045

-

1,350

7,1

00

- 8,1

60Pr

ivate

hous

ing es

tates

, high

rise

14

,035

- 14

,780

2,4

55

- 3,3

20

16,49

0 -

18,10

0Pr

ivate

luxur

y apa

rtmen

ts, hi

gh ris

e

15,80

5 -

up

3,325

-

4,220

19

,130

up

Terra

ced h

ouse

s

19,06

5 -

20,49

0

2,255

-

2,860

21

,320

- 23

,350

Indivi

dual

pres

tige h

ouse

s

27,48

5

up

2,455

-

3,610

29

,940

up

OFF

ICE/

CO

MM

ERC

IAL

Aver

age s

tanda

rd of

fices

, high

rise

12

,340

- 13

,350

4,1

50

- 5,2

80

16,49

0 -

18,63

0Pr

estig

e offic

es, h

igh ris

e

16,47

0

up

4,850

-

6,130

21

,320

up

Aver

age s

tanda

rd sh

oppin

g cen

tres

11

,840

- 14

,770

4,7

00

- 5,4

30

16,54

0 -

20,20

0Pr

estig

e sho

pping

centr

es

16,42

0

up

4,900

-

6,130

21

,320

up

HO

TELS

3-sta

r bud

get h

otels,

inclu

sive o

f F.F.

& E

.

15,07

0 -

16,63

0

4,930

-

5,700

20

,000

- 22

,330

5-sta

rt lux

ury h

otels,

inclu

sive o

f F.F.

& E

.

21,47

0

up

5,330

-

6,550

26

,800

up

IND

UST

RIA

L

Light

duty

flatte

d fac

tories

, 7.5

kpa (

150 l

b.) lo

ading

6,9

80

- 7,4

10

1,750

-

2,330

8,7

30

- 9,7

40He

avy d

uty fla

tted f

actor

ies an

d war

ehou

ses,

15

kpa (

300 l

b.) lo

ading

7,6

40

- 8,5

90

2,000

-

2,580

9,6

40

- 11

,170

OTH

ERS

Carp

arks

, abo

ve gr

ound

6,2

10

- 6,4

80

1,300

-

2,050

7,5

10

- 8,5

30Pr

imar

y and

seco

ndar

y sch

ools

9,1

20

- 9,3

30

2,050

-

2,850

11

,170

- 12

,180

Inter

natio

nal s

choo

ls

10,96

0 -

11,68

0

3,000

-

3,950

13

,960

- 15

,630

Stud

ent h

ostel

s

8,790

-

10,06

0

3,150

-

3,950

11

,940

- 14

,010

Spor

ts clu

bs in

clusiv

e of F

.F. &

E.

15

,270

- 16

,970

5,3

50

- 6,9

00

20,62

0 -

23,87

0


M&E COSTS FOR HONG KONG

M&

E C

OST

S FO

R H

ON

G K

ON

G

11 12

BU

ILD

ING

TYP

EH

K$/

m2

MEC

HANI

CAL

SERV

ICES

ELEC

TRIC

AL

SERV

ICES

FIR

E

SERV

ICES

LIFT

S/

ES

CALA

TORS

HYD

RA

ULI

C

SERV

ICES

TOTA

L

SE

RVIC

ES

DO

MES

TIC

Publi

c ren

tal ho

using

, high

rise

- -

450 -

55

0

75 -

120

20

0 -

250

32

0 -

430

1,04

5 - 1,

350

Priva

te ho

using

estat

es, h

igh ris

e

650 -

85

0

850 -

1,05

0

75 -

120

33

0 -

550

55

0 -

750

2,45

5 - 3,

320

Priva

te lux

ury a

partm

ents,

high

rise

1,10

0 - 1,

300

1,05

0 - 1,

300

75

- 1

20

450

- 65

0

650

- 85

0 3

,325 -

4,22

0Te

rrace

d hou

ses

85

0 - 1,

100

85

0 - 1,

050

55

- 1

10

- -

50

0 -

600

2,25

5 - 2,

860

Indivi

dual

pres

tige h

ouse

s

850 -

1,40

0 1

,050 -

1,50

0

55 -

110

- -

50

0 -

600

2,45

5 - 3,

610

OFF

ICE/

CO

MM

ERC

IAL

Aver

age s

tanda

rd of

fices

, high

rise

1,60

0 - 1,

950

1,30

0 - 1,

650

43

0 -

550

55

0 -

750

27

0 -

380

4,15

0 - 5,

280

Pres

tige o

ffices

, high

rise

1,90

0 - 2,

350

1,60

0 - 1,

950

43

0 -

550

65

0 -

900

27

0 -

380

4,85

0 - 6,

130

Aver

age s

tanda

rd sh

oppin

g cen

tres

1,95

0 - 2,

150

1,40

0 - 1,

600

43

0 -

550

65

0 -

750

27

0 -

380

4,70

0 - 5,

430

Pres

tige s

hopp

ing ce

ntres

1,95

0 - 2,

400

1,60

0 - 1,

950

43

0 -

550

65

0 -

850

27

0 -

380

4,90

0 - 6,

130

HO

TELS

3-star

budg

et ho

tels,

inclus

ive of

F.F.

& E.

1,75

0 - 1,

950

1,50

0 - 1,

750

43

0 -

550

45

0 -

550

80

0 -

900

4,93

0 - 5,

700

5-star

t luxu

ry ho

tels,

inclus

ive of

F.F.

& E.

1,85

0 - 2,

150

1,75

0 - 2,

150

43

0 -

550

45

0 -

650

85

0 - 1

,050

5,33

0 - 6,

550

IND

UST

RIA

LLig

ht du

ty fla

tted f

actor

ies, 7

.5 kp

a

(1

50 lb

.) loa

ding

38

0 -

500

45

0 -

650

25

0 -

300

45

0 -

550

22

0 -

330

1,75

0 - 2,

330

Heav

y duty

flatte

d fac

tories

and

wa

rehou

ses,

15 kp

a (30

0 lb.)

load

ing

380 -

50

0

650 -

85

0

250

- 30

0

500

- 60

0

220

- 33

0 2

,000 -

2,58

0

OTH

ERS

Carp

arks

, abo

ve gr

ound

20

0 -

550

45

0 -

650

25

0 -

300

25

0 -

350

15

0 -

200

1,30

0 - 2,

050

Prim

ary a

nd se

cond

ary s

choo

ls

550 -

85

0

850 -

1,05

0

250

- 35

0

150

- 25

0

250

- 35

0 2

,050 -

2,85

0Int

erna

tiona

l sch

ools

1,30

0 - 1,

600

1,05

0 - 1,

400

25

0 -

350

15

0 -

250

25

0 -

350

3,00

0 - 3,

950

Stud

ent h

ostel

s

650 -

85

0 1

,400 -

1,60

0

350

- 45

0

150

- 25

0

600

- 80

0 3

,150 -

3,95

0Sp

orts

clubs

inclu

sive o

f F.F.

& E

. 2

,500 -

3,00

0 1

,800 -

2,50

0

450

- 60

0

250

- 35

0

350

- 45

0 5

,350 -

6,90

0

The a

bove

costs

are a

t 4th

Qua

rter 2

011 l

evels

.


ACMV COSTS FOR VARIOUS DESIGNSAND DEVELOPMENTS IN HONG KONG

13 14


CONSTRUCTION COST SPECIFICATION FOR HONG KONG

The costs for the respective categories given on the previous pages 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.

The costs per square metre are based on construction floor areas measured to the outside face of the external walls/external perimeter including lift shafts, stairwells, balconies, plant rooms, water tanks and the like.

All buildings are assumed to have no basement (unless otherwise stated) and to be built on flat ground, with normal soil conditions. The costs exclude external works, land costs, professional fees, finance and legal expenses.

The standards for each category of buildings vary from country to country. Standards representing by the construction costs of other regions published hereinafter do not necessarily follow those of Hong Kong.

DOMESTIC

Public rental housing is based on Hong Kong Housing Authority Non-standard Cruciform Block design.

Private housing estates are based on blocks containing 30-50 storeys, with average unit size not greater than 100 m2. Single glazed windows. Tiled or plastered finishes in general.

Air conditioning, kitchen cabinets and home appliances are included for private housing estates, private luxury apartments, terraced houses and prestige houses.

All types of domestic construction include provision of functional light fittings only and no feature light fittings have been allowed. Fitting out works and loose furniture are also not included.

OFFICE/COMMERCIAL

Office based on buildings 20-30 storeys high with floor plans minimum 1,000 m2 per level.

Average standard offices and shopping centres exclude finishes, A/C ducting and light fittings to tenants areas.

Prestige offices have curtain wall elevations and granite finished lobbies, with raised floor, suspended ceiling, A/C ducting and light fittings to tenants areas.

INDUSTRIAL

Flatted factories exclude manufacturing equipment, air-conditioning, electrical distribution systems and special services provisions to tenants areas.

HOTELS

F.F. & E. includes interior decoration and loose furniture etc. but excludes pre-opening expenses and hotel operation system and equipment costs (e.g. cutlery, crockery, linen, uniform, etc.).

Includes 1 level of basement.

OTHERS

Carparks to be multi-storey.

Primary and secondary schools with standard government provisions.

International Schools with upgraded facilities.

Student hostels to university standard.

Sports club to the standard of the Government's indoor recreational centre.

15 16


FIT-OUT COSTS FOR HONG KONG

BUILDING TYPE HK$/m2

HOTELS

Public Areas (Front of House) : 3-start Hotel 7,600 - 11,500

4-start Hotel 12,000 - 16,000

5-start Hotel 17,000 up

Guest Rooms : 3-start Hotel 6,000 - 7,400

4-start Hotel 7,500 - 10,000

5-start Hotel 10,000 up

Notes : 1. Includesfurniture,floor,wallandceiling

finishes, drapery, sanitary fittings andlightfittings.

2. Excludespartitioning,M&Eworks,buildingshell,chandeliers,operationalitemsandequipment (e.g. cutlery, crockery, linen,television, refrigerator etc.), openingexpenses,stageequipmentandcomputersystems.

OFFICES

General office 4,800 - 7,400

Executive office 7,500 - 10,500

Prestige office 10,500 up

Notes :1. Local/Taiwanese/PRCfurnitureallowed

forgeneraloffices.2. Includesfurniture,partitioning,electrical

work,minoralterationtoair-conditioning,fire servicesand suspended ceiling tosuitlayout.

3. Excludestelephones,datacabling,officeequipment(e.g.computers,photocopiers,faxmachines,UPS,etc).

BUILDING TYPE HK$/m2

DEPARTMENT STORES

General department store 6,000 - 9,300Prestige department store 10,000 up

Notes : 1. Includeselectricalwork,additionalFCU

andminoralterationof fireservices tosuitlayout.

2. Excludes facademodification, datacabling,operationalitemsandequipment(e.g.computers,P.O.S.,officeequipment)andopeningexpenses.

RESTAURANTS

General dining restaurant 7,600 - 15,000

Fine dining restaurant 16,000 up

Notes :1. Includesfurniture,floor,wallandceiling

finishes,electricalwork,minoralterationto air-conditioning and fire servicesinstallation to suit layout, exhaust forkitchen.

2. Excludesexhaustflue,operationalitems(e.g.cutlery,crockery,linen,utensils,etc.).

17 18


19 20

DESCRIPTION UNIT HK$

SQUASH COURTS

Single court with glass backwall including associated mechanical and electrical services but excluding any public facilities (enclosing structure not included).

per court 420,000

TENNIS COURTS

Single court on grade with acrylic surfacing and complete with chain link fence.

per court 870,000

Single court on grade with artificial turf surfacing and complete with chain link fence.

per court 980,000

Extra for lighting. per court 300,000

SWIMMING POOLS

Half Olympic (25m x 10.50m) outdoor swimming pool built into ground, fully tiled; complete with 5m wide deck and associated pool equipment and ozonesystem.

per pool 5,500,000

PLAYGROUND EQUIPMENT

Outdoor playground equipment comprising various activities. per set

250,000 to

650,000

UNIT COSTS FOR ANCILLARY FACILITIESFOR HONG KONG

DESCRIPTION UNIT HK$

SAUNAS

Sauna room for 4-6 people complete with all accessories (enclosing structure not included).

per room 130,000

STEAM BATHS

Steam bath for 4-6 people complete with all accessories (enclosing structure not included).

per room 130,000

GOLF COURSES

(Based on average cost of an 18-hole golf course)

Excluding associated buildings and equipment.

per hole

7,000,000 to

13,000,000

GOLF SIMULATOR

Golf simulation system complete with projector, high impact projection screen, artificial turf, recording system and control computer with software (enclosing structure not included). per set 550,000


BU

ILD

ING

TYP

EU

S$/m

2

HONG

KO

NG +

SHA

NGHA

I + B

EIJI

NG +

GUA

NGZH

OU/

SH

ENZH

EN +

CHO

NGQ

ING

+CH

ENG

DU +

DO

MES

TIC

Detac

hed h

ouse

s and

bung

alows

3,8

38

1,096

77

6

622

76

0

780

Terra

ced h

ouse

s

2,863

82

2

528

43

9

480

50

0Av

erag

e stan

dard

apar

tmen

ts, hi

gh ris

e

2,217

65

8

560

52

5

440

47

0Lu

xury

apar

tmen

ts, hi

gh ris

e

2,453

98

7

993

60

5

800

1,0

00

OFF

ICE/

CO

MM

ERC

IAL

Aver

age s

tanda

rd of

fices

, high

rise

2,2

51

987

94

7

760

86

0

940

Pres

tige o

ffices

, high

rise

2,7

33

1,316

1,2

69

1,044

1,1

00

1,250

Shop

ping c

entre

s

2,545

1,2

06

1,090

98

3

900

95

0

HO

TELS

Reso

rt ho

tels

N/

A

1,370

N/

A

N/A

N/

A

N/A

3-sta

r bud

get h

otels,

inclu

sive o

f F.F.

& E

.

2,713

1,0

96

1,116

N/

A

1,050

1,1

005-

star lu

xury

hotel

s, inc

lusive

of F.

F. &

E.

3,436

2,1

93

1,919

1,5

17

1,880

2,1

50

IND

UST

RIA

LLig

ht du

ty fla

tted f

actor

ies

1,184

N/A

N/

A

N/A

N/

A

N/A

Heav

y duty

flatte

d fac

tories

and

wa

reho

uses

1,3

34

N/A

N/

A

N/A

N/

A

N/A

Sing

le sto

rey c

onve

ntion

al fac

tory o

f

struc

tural

steelw

ork

N/

A

548

58

6

520

55

0

550

Owne

r ope

rated

factp

ries,

low ris

e

1,805

73

5

765

64

8

N/A

N/

A

OTH

ERS

Base

ment

carp

arks

(< 3

levels

)

1,900

83

0

780

75

9

700

70

0El

evate

d car

parks

(< 4

levels

)

1,028

39

8

456

35

3

390

39

0Pr

imar

y and

seco

ndar

y sch

ools

1,4

97

598

63

2

415

48

0

500

Stud

ent h

ostel

s

1,663

34

3

335

26

6

330

33

0Sp

orts

clubs

inclu

sive o

f F.F.

& E

.

2,852

1,0

51

970

79

8

900

99

0

Exch

ange

Rate

Use

d : U

S$1 =

HK$7

.8RM

B6.35

RMB6

.35RM

B6.35

RMB6

.35RM

B6.35

CONSTRUCTION COSTS FOR SELECTEDASIAN CITIES

CO

NST

RU

CTI

ON

CO

STS

FOR

SEL

ECTE

D A

SIA

N C

ITIE

S

The

abov

e co

sts

are

at 4

th Q

uart

er 2

011

leve

ls, i

nclu

sive

of p

relim

inar

ies

and

cont

inge

ncie

s un

less

oth

erw

ise

stat

ed.

For l

ates

t cos

t inf

orm

atio

n, p

leas

e re

fer t

o ou

r Qua

rterly

Con

stru

ctio

n C

ost R

evie

w.

+ R

ates

are

exc

lusi

ve o

f con

tinge

ncie

s.

(Cont'd)

21 22


BU

ILD

ING

TYP

EU

S$/m

2

MAC

AU Ђ

SING

APO

RE Φ

KUAL

ALU

MPU

R B

RUNE

I IN

DIA

₲ M

ANIL

A Ω

DO

MES

TIC

Detac

hed h

ouse

s and

bung

alows

3,4

55

2,400

96

2

751

40

9

1,210

Terra

ced h

ouse

s

3,015

2,0

40

317

52

5

300

62

0Av

erag

e stan

dard

apar

tmen

ts, hi

gh ris

e

1,545

1,6

80

463

87

1

347

84

5Lu

xury

apar

tmen

ts, hi

gh ris

e

2,230

2,7

60

1,070

1,0

71

439

1,0

70

OFF

ICE/

CO

MM

ERC

IAL

Aver

age s

tanda

rd of

fices

, high

rise

2,2

00

2,080

75

2

871

40

6

820

Pres

tige o

ffices

, high

rise

2,5

20

2,320

1,1

05

1,192

51

4

1,080

Shop

ping c

entre

s

2,710

2,2

40

917

1,0

97

470

96

0

HO

TELS

Reso

rt ho

tels

N/

A

2,480

1,3

33

1,438

72

3

1,290

3-sta

r bud

get h

otels,

inclu

sive o

f F.F.

& E

.

2,560

2,5

60

1,537

1,5

59

817

1,2

305-

star lu

xury

hotel

s, inc

lusive

of F.

F. &

E.

3,480

3,4

40

2,241

2,1

63

1,588

1,6

00

IND

UST

RIA

LLig

ht du

ty fla

tted f

actor

ies

1,245

1,120

43

8

483

26

3

430

Heav

y duty

flatte

d fac

tories

and

ware

hous

es

N/A

1,3

60

521

N/

A

313

47

5Si

ngle

store

y con

venti

onal

factor

y of

str

uctur

al ste

elwor

k

N/A

96

0

435

44

1

252

41

0Ow

ner o

perat

ed fa

ctprie

s, low

rise

N/

A

N/A

53

0

N/A

31

7

440

OTH

ERS

Base

ment

carp

arks

(< 3

levels

)

1,230

1,3

10

505

N/

A

254

48

0El

evate

d car

parks

(< 4

levels

)

910

76

0

286

49

4

222

46

5 Pr

imar

y and

seco

ndar

y sch

ools

N/

A

1,055

32

7

693

17

8

590

Stud

ent h

ostel

s

N/A

1,1

60

413

79

3

228

69

5Sp

orts

clubs

inclu

sive o

f F.F.

& E

.

N/A

1,7

70

854

N/

A

605

1,2

60

Exch

ange

Rate

Use

d : U

S$1 =

MOP7

.97S$

1.25

RM3.1

5B$

1.26

INR5

0PH

P43


CO

NST

RU

CTI

ON

CO

STS

FOR

SEL

ECTE

D A

SIA

N C

ITIE

S (C

ont'd

)

₲

Rat

es b

ased

on

proj

ects

in B

anga

lore

and

are

net

t of

VAT

and

Ser

vice

Tax

. Mum

bai c

osts

are

gen

eral

ly 8

% h

ighe

r.Ω

R

ates

are

exc

lusi

ve o

f con

tinge

ncie

s an

d in

clud

e 12

% V

AT.

(Cont'd)

23 24

The

abov

e co

sts

are

at 4

th Q

uart

er 2

011

leve

ls, i

nclu

sive

of p

relim

inar

ies

and

cont

inge

ncie

s un

less

oth

erw

ise

stat

ed.

For l

ates

t cos

t inf

orm

atio

n, p

leas

e re

fer t

o ou

r Qua

rterly

Con

stru

ctio

n C

ost R

evie

w.

Ђ

Rat

es a

re e

xclu

sive

of c

ontin

genc

ies

and

any

man

agem

ent

co

ntra

ct fe

e.

Φ R

ates

are

net

t of G

ST

and

excl

usiv

e of

con

tinge

ncie

s.


BU

ILD

ING

TYP

EU

S$/m

2

KAR

ACHI

BAN

GKO

K #

JAK

ARTA

^ H

O C

HI M

INH

# S

EOUL

$TO

KYO

♣

DO

MES

TIC

Detac

hed h

ouse

s and

bung

alows

985

- 1,1

50

967

47

5

500 -

600

1,9

30

2,760

Terra

ced h

ouse

s

250 -

350

58

3

N/A

42

5 - 48

5

1,605

N/

AAv

erag

e stan

dard

apar

tmen

ts, hi

gh ris

e

580 -

775

82

8

595

63

5 - 76

0

1,310

2,2

30Lu

xury

apar

tmen

ts, hi

gh ris

e 8

70 -

1,150

1,1

62

800

81

5 - 94

5

1,630

3,1

00

OFF

ICE/

CO

MM

ERC

IAL

Aver

age s

tanda

rd of

fices

, high

rise

57

5 - 72

5

750

57

5

760 -

880

1,1

70

2,680

Pres

tige o

ffices

, high

rise

950

- 1,1

50

983

86

0

890 -

1,13

0

1,330

3,2

00Sh

oppin

g cen

tres

69

5 - 90

0

800

49

5

695 -

815

1,4

80

2,190

HO

TELS

Reso

rt ho

tels

1,96

5 - 2,

305

2,2

67

1,200

1,19

5 - 1,

500

1,5

35

3,510

3-sta

r bud

get h

otels,

inclu

sive o

f F.F.

& E

. 1

,125 -

1,45

0

1,367

98

0 1

,495 -

1,75

0

1,730

3,4

80

5-sta

r luxu

ry ho

tels,

inclus

ive of

F.F.

& E.

1,80

0 - 2,

100

1,9

33

1,395

1,82

5 - 2,

060

2,3

00

5,100

IND

UST

RIA

LLig

ht du

ty fla

tted f

actor

ies

300 -

375

60

0

N/A

23

8 - 39

0

N/A

1,5

40He

avy d

uty fla

tted f

actor

ies an

d

wa

reho

uses

35

0 - 45

0

N/A

N/

A

395 -

510

N/

A

2,040

Sing

le sto

rey c

onve

ntion

al fac

tory o

f

struc

tural

steelw

ork

43

5 - 45

0

600

26

0

385 -

510

69

0

1,760

Owne

r ope

rated

factp

ries,

low ris

e

325 -

425

N/

A

N/A

39

5 - 49

5

N/A

N/

A

OTH

ERS

Base

ment

carp

arks

(< 3

levels

)

275 -

325

68

3

390

64

0 - 73

0

965

N/

AEl

evate

d car

parks

(< 4

levels

)

200 -

250

35

0

260

34

0 - 45

5

565

1,6

90Pr

imar

y and

seco

ndar

y sch

ools

55

0 - 67

5

N/A

N/

A

475 -

500

1,8

20

2,070

Stud

ent h

ostel

s

410 -

540

N/

A

N/A

50

0 - 63

0

1,080

1,8

90Sp

orts

clubs

inclu

sive o

f F.F.

& E

.

810 -

900

N/

A

N/A

75

5 - 84

0

1,460

2,2

80

Exch

ange

Rate

Use

d : U

S$1 =

PKR8

9.42

BAHT

30ID

R8,91

0VN

D21,0

11KR

W1,1

44JP

Y78.1

4


CO

NST

RU

CTI

ON

CO

STS

FOR

SEL

ECTE

D A

SIA

N C

ITIE

S (C

ont'd

)

$ R

ates

are

net

t of V

AT a

nd e

xclu

sive

of c

ontin

genc

ies.

♣ R

ates

exc

lude

con

tinge

ncie

s, c

onsu

ltant

fees

and

con

sum

ptio

n ta

x.

25 26

The

abov

e co

sts

are

at 4

th Q

uart

er 2

011

leve

ls, i

nclu

sive

of p

relim

inar

ies

and

cont

inge

ncie

s un

less

oth

erw

ise

stat

ed.

For l

ates

t cos

t inf

orm

atio

n, p

leas

e re

fer t

o ou

r Qua

rterly

Con

stru

ctio

n C

ost R

evie

w.

# R

ates

are

net

t of V

AT a

nd c

ontin

genc

ies.

^ R

ates

are

net

t of V

AT.


BU

ILD

ING

TYP

EH

ON

G K

ON

GSH

AN

GH

AI

BEI

JIN

GG

UA

NG

ZHO

U/

SHEN

ZHEN

CH

ON

GQ

ING

CH

ENG

DU

HK

$/m

2R

MB

/m2

RM

B/m

2R

MB

/m2

RM

B/m

2R

MB

/m2

MEC

HA

NIA

L SE

RVI

CES

Offic

es

1,600

- 2,3

50

761 -

96

6

750 -

99

0

650 -

88

0

700 -

90

0

700 -

1,00

0Ind

ustria

l *

380 -

50

0

173 -

28

9

160 -

27

0

135 -

24

0

150 -

25

0

150 -

25

0Ho

tels

1,7

50 -

2,150

97

1 - 1

,265

91

0 - 1

,110

89

0 - 1

,115

75

0 - 1

,000

75

0 - 1

,200

Shop

ping C

entre

s

1,950

- 2,4

00

1,050

- 1,1

03

790 -

95

0

660 -

89

0

600 -

85

0

600 -

1,00

0Ap

artm

ent

65

0 - 1

,300

31

0 -

410

13

0 -

370

10

5 -

325

10

0 -

300

10

0 -

300

ELEC

TRIC

AL

SER

VIC

ESOf

fices

1,3

00 -

1,950

59

3 -

651

46

0 -

670

45

0 -

650

45

0 -

650

45

0 -

700

Indus

trial *

*

450 -

85

0

305 -

43

1

320 -

45

0

260 -

40

0

300 -

40

0

300 -

40

0Ho

tels

1,5

00 -

2,150

65

1 -

830

70

5 -

898

56

5 -

765

55

0 -

700

55

0 -

800

Shop

ping C

entre

s

1,400

- 1,9

50

520 -

65

1

481 -

66

3

450 -

61

0

450 -

60

0

450 -

70

0Ap

artm

ent

85

0 - 1

,300

25

2 -

368

25

3 -

386

24

0 -

380

25

0 -

350

25

0 -

350

HYD

RA

ULI

C S

ERVI

CES

Offic

es

270 -

38

0

110 -

16

3

95 -

140

10

5 -

140

70

- 13

0

70 -

130

Indus

trial

22

0 -

330

89

- 13

1

95 -

140

75

- 10

2

70 -

120

70

- 12

0

Hot

els

80

0 - 1

,050

36

8 -

488

36

0 -

470

32

5 -

410

30

0 -

400

30

0 -

400

Shop

ping C

entre

s

270 -

38

0

137 -

18

4

140 -

20

0

105 -

14

0

70 -

130

70

- 13

0Ap

artm

ent

55

0 -

850

16

8 -

226

16

5 -

225

12

5 -

220

12

0 -

200

12

0 -

200

FIR

E SE

RVI

CES

Offic

es

430 -

55

0

226 -

32

0

180 -

26

5

190 -

29

5

180 -

25

0

180 -

25

0Ind

ustria

l

250 -

30

0

168 -

27

8

140 -

21

5

125 -

24

0

150 -

25

0

150 -

25

0Ho

tels

43

0 -

550

28

9 -

399

21

5 -

370

23

0 -

345

20

0 -

330

20

0 -

330

Shop

ping C

entre

s

430 -

55

0

268 -

38

3

215 -

37

0

230 -

34

5

220 -

33

0

220 -

33

0Ap

artme

nt

75 -

120

47

- 11

6

60 -

125

55

- 10

5

50 -

100

50

- 10

0LI

FTS

/ ESC

ALA

TOR

SOf

fices

55

0 -

900

27

5 -

540

29

4 -

577

25

0 -

410

35

0 -

550

35

0 -

600

Indus

trial

45

0 -

600

13

0 -

380

14

5 -

400

13

5 -

390

15

0 -

350

15

0 -

350

Hotel

s

450 -

65

0

215 -

48

5

232 -

52

0

200 -

39

0

300 -

45

0

300 -

50

0Sh

oppin

g Cen

tres

65

0 -

850

32

0 -

485

32

7 -

520

30

5 -

430

30

0 -

400

30

0 -

450

Apar

tmen

t

330 -

65

0

160 -

32

0

175 -

28

9

105 -

23

0

140 -

25

0

140 -

25

0

M&

E C

OST

S FO

R S

ELEC

TED

ASI

AN

CIT

IES

M&E COSTS FOR SELECTED ASIAN CITIES

The

abov

e co

sts

are

at 4

th Q

uart

er 2

011

leve

ls, e

xclu

sive

of c

ontin

genc

ies

unle

ss o

ther

wis

e st

ated

.

* G

ener

ally

with

out A

/C.

**

Exc

lude

s sp

ecia

l pow

er s

uppl

y.

(Cont'd)

27 28


BU

ILD

ING

TYP

EM

AC

AU

SIN

GA

POR

E Φ

KU

ALA

LUM

PUR

BR

UN

EI IN

DIA

₲ M

AN

ILA

Ω

MO

P/m

2S$

/m2

RM

/m2

B$/

m2

INR

/m2

PHP/

m2

MEC

HA

NIA

L SE

RVI

CES

Offic

es

N/A

15

3 - 2

28

350

- 455

13

3 - 1

66

3,600

- 4,7

00

3,000

- 4,3

00Ind

ustria

l *

N/A

29

- 13

6

60 -

90

17 -

29

1,600

- 2,8

00

650 -

1,30

0Ho

tels

1,8

50 -

2,150

15

0 - 2

89

280

- 450

21

4 - 2

47

4,500

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50

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00Sh

oppin

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280

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200

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RVI

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20

3 - 3

06

220

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1 - 2

14

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ustria

l **

N/

A

58 -

148

14

0 - 1

57

143

- 171

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Hotel

s

1,900

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202

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24

0 - 5

90

214

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3,2

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4,4

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Shop

ping C

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s

1,900

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170

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20

0 - 2

60

162

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Apar

tmen

t

650 -

85

0

109

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0

185

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1,2

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HYD

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Offic

es

N/A

31

- 71

23

- 52

12

- 29

57

5 -

850

90

0 - 2

,000

Indus

trial

N/

A

19 -

39

36 -

45

8 -

14

375 -

65

0

700 -

1,20

0

Hot

els

85

0 - 1

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97

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6

173

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45

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1,7

50 -

3,800

Shop

ping C

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300 -

40

0

49 -

75

23 -

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30

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45

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64

57 -

80

24 -

29

900 -

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0

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ustria

l

N/A

24

- 54

45

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9

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40

0 -

550

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900

Hotel

s

500 -

60

0

49 -

78

65 -

90

19 -

36

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38

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Apart

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150

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45

0 -

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LIFT

S / E

SCA

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Offic

es

N/A

62

- 17

7

88 -

400

7

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65

0 -

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Indus

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N/

A

46 -

114

54

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0

3 -

14

400 -

55

0

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Hotel

s

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70

0

76 -

138

85

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0

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33

800 -

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0

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83

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0

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110

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0 - 1

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Apar

tmen

t

400 -

50

0

27 -

123

63

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5

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19

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70

0

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M&

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OST

S FO

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AN

CIT

IES

(Con

t'd)


₲

Rat

es a

re b

ased

on

proj

ects

in B

anga

lore

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are

net

t of V

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Tax.

Mum

bai c

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are

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ly 8

% h

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Tr

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er, i

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ded

in E

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vice

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Rat

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f GS

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(Cont'd)

29 30

The

abov

e co

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are

at 4

th Q

uart

er 2

011

leve

ls, e

xclu

sive

of c

ontin

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ss o

ther

wis

e st

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.


BU

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ING

TYP

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AC

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BA

NG

KO

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KA

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INH

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3,750

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1,085

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195

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A

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150

11

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7,600

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2,4

31 -

3,392

1,6

50 -

1,700

28

0 - 4

50

N/A

11

5 - 1

50

10,40

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tels

5,8

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9,925

2,7

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51

0 - 7

30

N/A

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60

18,80

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2,400

45

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70

N/A

20

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30

7,600

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tmen

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2,000

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63

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70

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71

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20

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Hot

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3,2

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1,490

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0 - 7

40

N/A

57

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16

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ping C

entre

s

465 -

1,24

0

780 -

95

0

120

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N/

A

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56

5,400

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tmen

t

1,360

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70

1,150

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50

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171

49

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18

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FIR

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Inc

luded

in

abov

e

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1,285

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0

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61

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019

40

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1,1

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2,025

72

0 -

750

70

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0

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27

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s

1,285

- 2,6

50

750 -

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0

150

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N/

A

56 -

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2,025

76

0 -

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16

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10

N/A

42

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Apart

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85

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76

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528

32

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LIFT

S / E

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1,745

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50

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l

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00

N/A

N/

A

N/A

16

- 25

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tels

3,5

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27

0 - 6

80

N/A

11

0 - 1

55

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Shop

ping C

entre

s

1,745

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49

0

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45

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27

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M&

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S FO

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CIT

IES

(Con

t'd)

(Cont'd)


# Al

l rat

es a

re n

ett o

f VAT

. R

ates

for E

lect

rical

Ser

vice

s ar

e ex

clud

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gens

et.

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for H

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s ar

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clud

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STP.

Rat

es fo

r Mec

hani

cal S

ervi

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refe

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ACM

V R

ates

onl

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All c

osts

are

ave

rage

. Spr

inkl

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re h

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are

incl

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in H

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Se

rvic

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mok

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Fire

al

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re in

clud

ed in

Ele

ctric

al S

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ally

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sed

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.

The

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th Q

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excl

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less

oth

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ise

stat

ed.

31 32


DES

CR

IPTI

ON

UNIT

HONG

KO

NGSH

ANG

HAI

BEIJ

ING

GUA

NGZH

OU/

SH

ENZH

ENCH

ONG

QIN

GCH

ENG

DU

HK

$R

MB

RM

BR

MB

RM

BR

MB

1. Ex

cava

ting b

asem

ents

≤ 2.0

0m de

epm3

11

5

30

15

25

16

202.

Exca

vatin

g for

footin

gs ≤

1.50

m de

epm3

11

0

25

18

30

18

253.

Remo

ve ex

cava

ted m

ateria

ls off

site

m3

190 *

10

5

25

68

43

354.

Hardc

ore be

d blin

ded w

ith fin

e mate

rials

m3

650

16

8

120

15

5

120

13

05.

Mass

conc

rete g

rade 1

5m3

90

0

400

50

0

380

38

0

380

6. Re

inforc

ed co

ncret

e grad

e 30

m3

1,130

47

0

560

46

5

420

42

07.

Mild

steel

rod re

inforc

emen

tkg

9.8

6

6.3

6.2

6.3

6.3

8. Hi

gh te

nsile

rod r

einfor

ceme

ntkg

9.8

6

6.3

6.2

6.3

6.3

9. Sa

wn fo

rmwo

rk to

soffit

s of s

uspe

nded

slabs

m2

180

55

65

45

55

55

10. S

awn f

ormwo

rk to

colum

ns an

d wall

sm2

18

0

55

55

45

55

5511

. 112

.5mm

thick

brick

wall

sm2

19

0

60 @

90

58

47

50

12. "

Kliplo

k Colo

rbond

" 0.64

mm pr

ofiled

ste

el sh

eetin

gm2

60

0

N/A

N/

A

N/A

N/

A

N/A

13. A

lumini

um ca

seme

nt wi

ndow

s, sin

gle

glaze

dm2

1,7

00

600

78

0 **

55

0

750 *

*

750 *

*14

. Stru

ctural

stee

lwork

- bea

ms, s

tanch

ions

and t

he lik

ekg

25

12

11

14

12

12

15. S

teelw

ork - a

ngles

, cha

nnels

, flats

and

the

like

kg

27

10

11

11

10

1016

. 25m

m ce

ment

and s

and (

1:3) p

aving

m2

80

35

20

21

22

2517

. 20m

m ce

ment

and s

and (

1:4) p

laster

to

walls

m2

95

28

22

18

17

2018

. Cera

mic t

iles b

edde

d to fl

oor s

creed

(m

/s)m2

27

0

160

12

0

115

12

0

120

19. 1

2mm

fibrou

s plas

terbo

ard ce

iling l

ining

m2

430

17

0

140

15

7

130

13

020

. Two

coats

of em

ulsion

paint

to pl

aster

ed

surfa

ces

m2

44

32

30

26

30

30Av

erage

expe

cted p

relim

inarie

s%

10

- 15

3 -

8

5 - 10

5 -

10

5 - 10

5 -

10

MA

JOR

RAT

ES F

OR

SEL

ECTE

D A

SIA

N C

ITIE

S

MAJOR RATES FOR SELECTED ASIAN CITIES

(Cont'd)

The

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are

at 4

th Q

uart

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011

leve

ls a

nd a

re b

ased

on

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p su

m fi

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ates

exc

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elim

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and

cont

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ncie

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less

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stat

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**

Rat

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glaz

ed w

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w.

* R

ate

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cha

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on 1

Dec

. 200

5.@

R

ates

for 1

20m

m th

ick

conc

rete

blo

ck w

alls

.

33 34


DES

CR

IPTI

ON

UNIT

MAC

AUSI

NGAP

ORE

ΦKU

ALA

LUM

PUR

BRUN

EIIN

DIA

₲M

ANIL

A

MO

PS$

RM

B$

INR

PHP

1. Ex

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0m de

epm3

11

0

16.5

15

- 20

3.5

13

0

350

2. Ex

cava

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or foo

tings

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deep

m3

105

16

.5

15 -

20

3

145

25

03.

Remo

ve ex

cava

ted m

ateria

ls off

site

m3

60

15

20 -

25

3

100

20

04.

Hardc

ore be

d blin

ded w

ith fin

e mate

rials

m3

580

50

60

- 70

37

3,0

60

2,500

5. Ma

ss co

ncret

e grad

e 15

m3

680

20

2 Φ Φ

23

0 - 25

0

117

4,2

00

3,500

6. Re

inforc

ed co

ncret

e grad

e 30

m3

730

15

5 - 17

0

250 -

280

13

2

5,125

4,8

007.

Mild

steel

rod re

inforc

emen

tkg

9.5

1.6

- 1.7

5

3.5 -

3.8

0.98

40

47

8. Hi

gh te

nsile

rod r

einfor

ceme

ntkg

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1.6

- 1.7

5

3.5 -

3.8

0.98

42

48

9. Sa

wn fo

rmwo

rk to

soffit

s of s

uspe

nded

slabs

m2

160

30

- 33

30

- 38

14

.5

425

85

010

. Saw

n form

work

to co

lumns

and w

alls

m2

160

30

- 33

30

- 38

14

45

0

800

11. 1

12.5m

m thi

ck br

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alls

m2

250

30

- 35

32

- 45

18

.5

700

N/

A12

. "Kli

plok C

olorbo

nd" 0

.64mm

profi

led

steel

shee

ting

m2

N/A

43

55

- 60

56

96

0

900

13. A

lumini

um ca

seme

nt wi

ndow

s, sin

gle

glaze

dm2

2,0

00

290

35

0 - 50

0

166 -

216

3,7

00

9,000

Ω

14. S

tructu

ral st

eelw

ork - b

eams

, stan

chion

s

an

d the

like

kg

35

4.8- 5

.8

6 - 7.

5

3

75

100

15. S

teelw

ork - a

ngles

, cha

nnels

, flats

and

the

like

kg

32

4.8 -

5.8

6 - 7.

5

2.7

75

9516

. 25m

m ce

ment

and s

and (

1:3) p

aving

m2

80

11

15 -

22

7.5

300

35

017

. 20m

m ce

ment

and s

and (

1:4) p

laster

to

walls

m2

95

15.5

15

- 22

8

23

0

350

18. C

erami

c tile

s bed

ded t

o floo

r scre

ed

(m/s)

m2

400

65

.5

50 -

70

23

1,100

1,2

0019

. 12m

m fib

rous p

laster

board

ceilin

g lini

ngm2

46

0

30

30 -

45

28

850

1,3

0020

. Two

coats

of em

ulsion

paint

to pl

aster

ed

surfa

ces

m2

80

3.5 -

4

3.5 -

4

5

130

35

0Av

erage

expe

cted p

relim

inarie

s%

8 -

15

12 -

15

6 - 12

5 -

8

5 - 10

8 -

15

MA

JOR

RAT

ES F

OR

SEL

ECTE

D A

SIA

N C

ITIE

S (C

ont'd

)


(Cont'd)

The

abov

e co

sts

are

at 4

th Q

uart

er 2

011

leve

ls a

nd a

re b

ased

on

lum

p su

m fi

xed

pric

e co

ntra

ct r

ates

exc

lusi

ve o

f pr

elim

inar

ies

and

cont

inge

ncie

s un

less

oth

erw

ise

stat

ed.

₲

Rat

es a

re b

ased

on

proj

ects

in B

anga

lore

and

are

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39 40

GENERAL CONSTRUCTION DATA2012 Outlook

Building Cost Trends in Hong Kong Labour Index in Hong Kong

Material Prices in Hong Kong Progress Payments

Estimating Rules of Thumb and Design Norms for Hong Kong

Construction Activity in Hong Kong Construction Value in Hong Kong

FIREE Recordals Tracker: November 2011 Update Hong Kong General Construction Insurance

Specified Forms for Buildings Ordinance or Regulations for Hong Kong

Summary of Building Regulations for Hong Kong Percentage Site Coverage and Plot Ratios

for Hong Kong


2012 OUTLOOK

However, the distribution of these 10 million units to various regions may not be in direct proportion to the scale of construction capacity in each region. For example, Chongqing’s construction output in 2010 was only 2.6% of the whole country, but their allocation of affordable public housing units for 2011 represents 5% of the country’s annual target (i.e. 500,000). On the other hand, Beijing and Shanghai performed 5.5% and 4.5% of the national total output in 2010, but are assigned only 200,000 and 260,000 units respectively. This apparent divergence may be partly explained by the fact that Beijing and Shanghai have relatively more commercial and infrastructure construction. However, it remains to be seen if this policy results in more localised variances in construction costs across the country.

Within the industry, both material prices and labour wages continue to be influenced by inflation in living and production costs. Both the Consumer Price Index and Producer Price Index had at one stage surged to 3-year highs, before dipping to 1-year and 2-year lows respectively in November, albeit still in positive territory. Workers’ pay rises are also bound by the nationwide increment in the Statutory Minimum Wage, which is about 20% on average. However, this has been offset to some extent by material costs having dipped in the 4th quarter. As a whole, construction costs have risen about 5% in 2011.

On the back of the Government’s proactive housing policy, the outlook for the industry remains fairly positive. Driven by increases in labour costs and general inflation, overall construction costs are forecast to rise by 5% p.a. in both 2012 and 2013.

Hong Kong: Construction activity picked up in 2011, driven by implementation of the public infrastructure projects and a gradual recovery in the private residential sector following the 2008 crisis.

43 44

China: Riding on the wave of recovery from 2010 and despite continued volatility in the global economy, the PRC construction industry remained robust in first three quarters of 2011, but was clouded by growing uncertainty in the property market towards the end of the year.

The volume of construction works performed in 2011 grew at about 25% per annum, close to the rate in each of the preceding two years. However, the rate of growth for new-start floor areas in the real estate sector has slowed down slightly. This is likely because, on the one hand, the build-up of demand prior to the 2010 economic rebound has been released, whilst at the same time, the central government has taken decisive action to curb soaring residential property prices.

The Government has adopted a series of measures to reduce speculative activities by property developers and end-users alike – including purchase limits, credit restrictions, a premium on the benchmark mortgage rate and higher down payments. Given the fact the Government has stated its long term goal is to keep property prices stable, these measures will likely be in place for some time. The credit crisis in the US coupled with the sovereign debt problems in the Eurozone has weakened the global economy, resulting in a slow-down of fixed asset investment activities across China. Given these conditions, private sector activity is likely to stablilise and we are unlikely to see another 2010-style boom anytime soon.

A positive note is that the Government does not intend to cut the supply of residential property. In fact, it has committed to provide 36 million affordable public housing units in the coming five years. Of this, 10 million are to start each year in 2011 and 2012. When compared to the number of residential units started by the public and private sectors in 2010 (circa 5.8 million and 13 million respectively), this new initiative accounts for about half of the total floor area of all building works. On the face of it, this potential volume of new public works should be able to outweigh the possible slowdown in the private sector.

(Cont'd)


2012 OUTLOOK

system, which is scheduled to last for about four years. In addition, the Macau government has been busy commissioning new public housing and other infrastructure works in response to growing economic activity and demand from the public.

In the entertainment and gaming sector, a number of Cotai projects, such as Venetian Parcel 3, Macau Studio City, Wynn and the next phase of Galaxy Macau are scheduled to start in the latter part of 2012. Given the relatively modest levels of casino construction in the last two years, such increased demand is likely to put significant pressure on construction labour and material prices for 2012 and beyond.

Across the boundary with Guangdong, the progress of projects on the neighbouring Hengqin Island ( ) is expected to pick up in the next few years, especially from private sector investment. Given its proximity to Macau, it is likely that the work there will have an effect on Macau's construction prices.

According to the Statistics and Census Service of the Macau Government, as at third quarter 2011, the average daily wages of construction workers was MOP569, representing a 4.6% year-on-year increase. Similarly, the price index of construction materials rose by 20.4% year-on-year.

Given the above situation, we predict tender prices are set to increase by about 8% during 2012.

45 46

With this improved sentiment, private residential developers have pressed ahead with new projects. Despite the HKSAR Government’s tightening measures (eg. extra stamp duty for properties sold within 2 years’ of purchase, increased down payments for units over HK$8M) and the banks’ increased mortgage rates, residential construction starts during the first nine months of 2011 still managed to reach 7,700 units. This surpassed the average 6,600 units which started each year from 2008 to 2010. These figures are likely to grow further over the next few years as a result of the Chief Executive’s commitment in the 2010/11 Policy Address to supply land for 20,000 private residential units a year, for the next decade.

Plots of land released by the government for residential use in 2011 could potentially provide up to 12,000 private units. Of which, 6,700 will be built on top of, or adjacent to, existing MTR station boxes, where most of the foundation works have already been completed – thus allowing an early start on the superstructure construction. Given that the new-build private residential sector contributes about 20% of the annual gross output of the construction industry, it will not be long before this supply translates into increased construction volume. The likely follow-on effect will be pressure on tender prices.

Basic construction costs have risen by around 8% in 2011, largely as a result of escalation in material prices and labour wages driven by the SAR’s 15-year-high inflation rate, the weakening of the US dollar against the Renminbi, and growing demand for labour.

Overall, the outlook for the industry in 2012 is fairly upbeat, although continued uncertainty in the US and EU economies will need to be kept in view. We forecast construction costs will rise by 8% a year in both 2012 and 2013.

Macau: Construction activity is expected to gather pace in 2012. One of the bigger projects is the long-awaited construction of the Macau Light Rail Transit (LRT)

(1) Building Works (2) Civil Engineering Works

CONSTRUCTION COST TREND PREDICTION

REGION 2011 2012 2013

China (1) +5% +5% +5%

Hong Kong (1) +8% +8% +8%

Hong Kong (2 +8% +8% +6%

Macau (1) +7% +8% +8%


47 48

BUILDING COST TRENDS IN HONG KONG

Historical TPI values from 1970 onwards available at www.dlsqs.com.(Cont'd)

* ProvisionalSource : Architectural Services Department, Hong Kong, SAR Refer to www.archsd.gov.hk for further information.

* Up to Q2 only

YEARINDEX

(Base = 100, at Year 1970)

Q1 Q2 Q3 Q4

2000 1,079 1,057 1,040 1,020 2001 990 960 945 935 2002 915 890 875 840 2003 855 878 895 895 2004 940 952 933 930 2005 945 955 963 970 2006 970 980 985 990 2007 1,020 1,074 1,175 1,150 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 1,476*

YEARINDEX

(Base = 100, at Year 1970)

Q1 Q2 Q3 Q4

2000 959 873 858 844 2001 862 842 807 721 2002 687 742 692 733 2003 720 723 722 681 2004 685 712 704 701 2005 711 716 718 697 2006 714 730 751 789 2007 821 859 906 998 2008 1,118 1,305 1,401 1,262 2009 1,074 983 1,111 1,107 2010 1,134 1,161 1,249 1,266 2011* 1,273 1,320


49 50

BUILDING COST TRENDS IN HONG KONG

* 1/11 to 8/11 onlySource : Civil Engineering and Development Department, Hong Kong, SAR Refer to www.cedd.gov.hk/eng/index.htm for further information.

LABOUR INDEX IN HONG KONG

Figures above are the quarterly average of the monthly indices

Source: Census and Statistics Department, Hong Kong, SAR Refer to www.censtatd.gov.hk for further information.

* Up to Q2 only

YEARINDEX

(Base = 100, at June 1995)

Q1 Q2 Q3 Q4

2000 152 153 154 154 2001 152 152 152 151 2002 150 150 149 148 2003 147 146 146 143 2004 143 140 140 138 2005 137 136 133 132 2006 131 133 134 136 2007 137 135 131 130 2008 129 128 128 129 2009 129 128 129 130 2010 131 131 131 132 2011* 133 134

YEARHYD CONST. COST

INDEX(Nov. 1975 Value = 100)

CEDD CIVIL ENGINEERING WORKS INDEX(1980 Value = 100)

2000 844 419 2001 838 416 2002 839 416 2003 848 419 2004 871 428 2005 869 429 2006 886 436 2007 917 450 2008 1,031 500 2009 950 461 2010 989 481 2011* 1,061 518


51 52

MATERIAL PRICES IN HONG KONG

GALVANIZED MILD STEEL ANGLE

(Cont'd)



REBAR

SAND

ORDINARY PORTLAND CEMENT




53 54

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 A

MATERIAL PRICES IN HONG KONG PROGRESS PAYMENTS

The 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.No account has been made for retention.

CONTRACTPERIOD

CUMULATIVE PROGRESS

CLAIMESCONTRACT

PERIODCUMULATIVE PROGRESS

CLAIMES 5% 1% 55% 59% 10% 3% 60% 68% 15% 5% 65% 77% 20% 7% 70% 83% 25% 10% 75% 88% 30% 14% 80% 92% 35% 21% 85% 94% 40% 29% 90% 96% 45% 38% 95% 98% 50% 48% 100% 100%


ESTIMATING RULES OF THUMB AND DESIGN NORMS FOR HONG KONG

CFA TO GFA RATIO Building Type CFA : GFAResidential 1.15 to 1.25 : 1 Office / Commercial 1.15 to 1.25 : 1Hotel 1.30 to 1.45 : 1

FUNCTIONAL AREA DISTRIBUTION IN 5-STAR HOTELS

Functional Area % of Total Hotel CFAFront of House 15 - 20%Guestroom Floors 50 - 60%Back of House 25 - 30%

DIMENSIONS OF TYPICAL GRADE A OFFICE SPACE

Component DimensionDistance from curtain wall to core wall 9 - 13 mPopulation 9 m2 usable floor area/personAverage waiting interval for lifts 30 - 40 seconds

DENSITY OF BASIC MATERIALS FOR STRUCTURE

Material DensityConcrete 2,400 kg/m3

Cement 1,450 kg/m3

Sand 1,600 kg/m3

Aggregate 1,600 kg/m3

Steel 7,843 kg/m3

AVERAGE LOADS VOLUME

Lorry (24 ton) 10.0 m3

Concrete truck (24 ton) 5.5 m3

Barge 200 - 1,450 m3

55 56

AVERAGE PILING RATIO - BORED PILES Building Type m2 CFA / m2 cross section area of pilesResidential 200 - 300 Office / Commercial 200 - 250Hotel 200 - 300

AVERAGE PILING RATIO - DRIVEN H-PILES

Building Type m2 CFA / No. of pilesResidential 50 - 90 Office / Commercial 50 - 80Hotel 50 - 90

AVERAGE PILING RATIO - PRE-BORED H-PILES

Building Type m2 CFA / No. of pilesResidential 70 - 120 Office / Commercial 70 - 110Hotel 70 - 120

All pile ratios are for high-rise buildings with normal soil conditions.

BUILDING STRUCTURE - CONCRETE RATIO

Concrete/floor area 0.4 m3/m2 to 0.5 m3/m2

Formwork/floor area 2.2 m2/m2 to 3.0 m2/m2

Reinforcement 160 kg/m3 to 250 kg/m3

AVERAGE EXTERNAL WALL/FLOOR RATIO

Residential Apartments 1.0 m2/m2

Office, Hotel 0.4 m2/m2

Industrial 0.4 m2/m2

(Cont'd)


ESTIMATING RULES OF THUMB AND DESIGN NORMS FOR HONG KONG

AVERAGE INTERNAL WALL/FLOOR RATIO

Residential Apartments 1.0 m2/m2 Office 0.5 m2/m2

Hotel 1.5 m2/m2

The above ratios are indicative and for reference purposes only. They do not account for buildings with special shapes, configurations or particularly small foot prints.

AVERAGE LIGHTING LEVEL Building Type LuxResidential 300 Office 500Retail 400Hotel 300School 300 - 500

AVERAGE POWER DENSITY

Building Type VA/m2 CFAResidential 80 - 100 Office 70Retail 300 - 400Hotel - Accommodation 30Hotel - F&B Area 550School 50

AVERAGE COOLING LOAD

Building Type m2 Cooling Area/RTResidential 18 - 23 Office 14 - 18Retail 12-14Hotel 23School 23

57 58

DIMENSIONS OF PARKING SPACES

MinimumType of Vehicle Length Width Headroom Private Cars and Taxis 5 m 2.5 m 2.4 m

Light Goods Vehicles 7 m 3.5 m 3.6 m

Medium/Heavy Goods Vehicle 11 m 3.5 m 4.7 m

Container Vehicles 16 m 3.5 m 4.7 m

Coaches and Buses 12 m 3.5 m 3.8 m

Light buses 8 m 3 m 3.3 m

Minimum headroom means the clearance between the floor and the lower most projection from the ceiling including any lighting units, ventilation ducts, conduits or similar.

INDICATIVE DIMENSIONS FOR SPORTS GROUNDS

Length Width

Tennis Court 40 m 20 m

Squash Court 10 m 6.4 m

Basketball Court 34 m 20 m

Volleyball Court 36 m 20 m

Badminton Court 20 m 10 m

Ice Rink 61 m 26 m

Soccer Pitch 120 m 90 m

The above dimensions are for a single court with appropriate clearance. No spectator seating or support area has been allowed.


CONSTRUCTION VALUE IN HONG KONGCONSTRUCTION ACTIVITY IN HONG KONG

* 1/11 to 9/11 only# As from January 2003 onwards, statistics by Buildings Department

on "Consent to Commence" are published with 2 sub-divisions, viz. "First Submission" and "Major Revision". Details can be found in the Buildings Department's "Monthly Digest".

* 1/11 to 9/11 only


59 60

YEAR COMPLETEDm2

CONSENT TO COMMENCE

m2

2000 1,515,000 1,850,000 2001 1,354,000 1,388,000 2002 1,908,000 1,372,000

2003# 1,587,000 1,683,000

2004# 1,720,000 1,115,000

2005# 1,227,000 1,476,000

2006# 1,389,000 1,398,000

2007# 1,030,000 1,539,000

2008# 1,097,000 997,000

2009# 815,000 1,075,000

2010# 1,139,000 1,210,000 2011#* 750,000 791,000

YEARVALUE IN NOMINAL

TERMSHK$ MILLIONS

VALUE IN CONSTANT (2000) MARKET PRICE

HK$ MILLIONS

2000 122,071 114,691 2001 113,986 111,385 2002 106,000 108,677 2003 99,032 106,274 2004 93,171 100,615 2005 90,851 98,275 2006 90,230 96,269 2007 92,866 96,844 2008 99,599 97,024 2009 100,944 93,683 2010 111,274 100,278 2011* 91,332 78,106

Source: 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.


Provided by :

FIREE RECORDALS TRACKER: NOVEMBER 2011 UPDATE

61 62

Since May 2007, any injection of foreign capital in foreign-invested real estate enterprises (FIREEs) must be recorded with the PRC Ministry of Commerce (MOFCOM). These “FIREE recordals” provide a useful perspective on the trend and pace of new foreign capital inflow into the China real estate sector. However, the FIREE recordal statistics do not disclose the actual amount of foreign capital involved in each transaction.

Baker & McKenzie has been tracking FIREE recordals announced by MOFCOM since May 2007. Set out below are some FIREE recordal statistics and data current up to the end of November 2011. In summary:

The total number of FIREE recordals for November 2011 was 95, up from 60 in October 2011.

The total number of FIREE recordals in 2008, 2009

and 2010 were 1,051, 991 and 1,094 respectively.

Since May 2007, cumulatively, there have been 5,614 FIREE recordals up to the end of November 2011. This includes 2,486 cases of new project operating entities being established, 2,562 cases of capital increase or M&A transactions (involving capital increase) related to existing project operating entities, and 238 cases of M&A transactions which do not involve any capital increase.

Mr. Rico Chan Ms. Barbara LiPartner PartnerBaker & McKenzie Hong Kong Office Baker & McKenzie Beijing Office+852 2846 1971 +86 10 6535 [email protected] [email protected]

1. FIREE recordals: monthly from 1 Jan 2009 to 30 Nov 2011:

2. Cities with the highest number of FIREE recordals from May 2007 to Nov 2011:

Provided by :


(Cont'd)


Provided by :

FIREE RECORDALS TRACKER: NOVEMBER 2011 UPDATE

63 64

3. Types of FIREE recordals from May 2007 to Nov 2011:

About the FIREE Recordal Regime

The regulatory regime for recording foreign-invested real estate enterprises was first established in May 2007 by MOFCOM and the State Administration of Foreign Exchange (SAFE). This “FIREE recordal” regime was part of a scheme of regulatory measures introduced between 2006 to 2007 to monitor and control foreign investment in the real estate sector at a time when the central government considered the real estate sector to be overheated. This regime controls all types of foreign capital inflow being injected into the real estate sector for purposes such as the setting up of new entities, capital increases and mergers & acquisitions. Foreign capital


flowing into China cannot be converted into Renminbi (China’s legal currency) unless and until the “FIREE recordal” process has been completed with MOFCOM and SAFE.

Since July 2008, the provincial-level commerce authorities have been charged with the primary responsibility of vetting the legal compliance of FIREE-related transactions. MOFCOM reserves the right to conduct random checks on the recordals filed by the provincial-level commerce authorities. Generally, within one to two weeks of receiving an electronic submission from a provincial-level commerce authority, MOFCOM will release the new FIREE recordal on its public website. Only then can the local bureau of SAFE and the local commercial bank credit the foreign currency funds into the accounts of the transaction parties concerned. In December 2008, MOFCOM further simplified the local recordal procedures such that the general office of the provincial government is no longer required to jointly endorse the recordal form with the provincial-level commerce authority.

In December 2010, MOFCOM announced Notice 1542, which requires local bureaus of MOFCOM to use the FIREE recordal regime to slow down new foreign investment into the PRC real estate sector.

Provided by :



HONG KONG GENERAL CONSTRUCTION INSURANCE

This section provides general information regarding construction insurance arrangements in Hong Kong.

It is common place for Hong 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 backed 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 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 contractor 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 coverage on a project-wide basis and hence minimizing overlaps and gaps in insurance coverage.

Employees Compensation

Section 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 penalty for failing to comply with this provision is two years in jail and a maximum fine of HK$100,000.

Under 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 million 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 Insurance

A Contractors' All Risks policy generally comprises (i) Third Party Insurance which covers injury to persons (except the Contractor’s 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 reimbursement 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 contractor’s plant and equipment used in the Works. Plant & Equipment Insurance is not normally required under the contract conditions and is voluntarily purchased by the contractor.

Professional Indemnity Insurance

For construction contracts involving contractor’s design, it is not uncommon for the employer to require the contractor and his design consultants and independent checking engineers to obtain insurance to cover their liability for design. For Government Contracts, the Professional Indemnity Insurance shall cover the contractor's liability for design generally for the construction period and a further 6 years.

65 66


FORM

NO

.PU

RPO

SER

ELEV

AN

T SE

CTI

ON

OF

REG

ULA

TIO

N

BA

1Ap

plica

tion

for i

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sion

in th

e au

thor

ized

pers

ons'

regi

ster

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ural

eng

inee

rs' r

egist

er /

geot

echn

ical e

ngin

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' reg

ister

.BO

s 3(

6)

BA

1AAp

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tent

ion

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ame

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iste

r /

stru

ctur

al e

ngin

eers

' reg

iste

r /

geot

echn

ical

en

gine

ers'

regi

ster

.BO

s 3(

9B)

BA

1BAp

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stor

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nam

e to

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oriz

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gen

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.BO

s 8B

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8D(2

)

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2CAp

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l of t

echn

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n ap

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gen

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.BO

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or re

gist

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stru

ctur

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r reg

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red

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eng

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r. B(

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23(

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BA

5Ap

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l of p

lans

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ks a

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, and

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f pre

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.B(

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29(

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per

son

and/

or re

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stru

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B(A)

R 1

8

BA

7N

otic

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urg

ent w

orks

requ

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lt of

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iden

t or e

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s 19(

3), B

(A)R

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BA

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mm

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men

t and

car

ryin

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wor

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t of r

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.B(

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new

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d ap

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s 21(

2)

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s 21(

2)

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& 26

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25

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)

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odifi

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1)

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al o

f lic

ence

for a

n oi

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alla

tion.

B(

OSI

)R 6

(1) &

7(3

)

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24N

otifi

catio

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the

Build

ing

Auth

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of c

hang

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ines

s ad

dres

s of

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horiz

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n / r

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nera

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A)R

45

SPEC

IFIE

D F

OR

MS

FOR

BU

ILD

ING

S O

RD

INA

NC

E O

R R

EGU

LATI

ON

S

SPECIFIED FORMS FOR BUILDINGS ORDINANCE OR REGULATIONS FOR HONG KONG

Sou

rce :

Bui

ldin

gs D

epar

tmen

t, H

ong

Kon

g, S

AR

. R

efer

to w

ww

.bd.

gov.

hk fo

r fur

ther

info

rmat

ion.

67 68


(Cont'd)

Source: Buildings Ordinance, Hong Kong, SAR Refer to www.legislation.gov.hk for further information.


PERCENTAGE SITE COVERAGE AND PLOT RATIOS FOR HONG KONG

SUMMARY OF BUILDING REGULATIONS FOR HONG KONG

69 70

DESCRIPTION NUMBER OFREGULATIONS

Administration 48

Appeal 14

Construction 93

Demolition Works 13

Energy Efficiency 6

Oil Storage Installations 12

Planning 72

Private Street and AccessRoads 28

Refuse Storage Chambers andChutes 25

Standards of Sanitary Fitments, Plumbing, Drainage Works and Latrines

91

Ventilating Systems 7

OPEN SPACE ABOUT DOMESTIC BUILDINGS

Item Class of site Open space required

1. Class A site Not less than one-half of the roofed-over area of the building

2. Class B siteNot less than one-third of the roofed-over area of the building

3. Class C siteNot less than one-quarter of the roofed-over area of the building

DEFINITION

Class A Site : Not being a class B or class C site, that abuts on one 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 streets neither of which is less than 4.5 m wide.

Class C Site : A corner site that abuts on 3 streets none of which is less than 4.5 m wide.


Height ofBuildingin metres

DOMESTIC BUILDINGS

Percentage site coverage Plot Ratio

ClassA

site

ClassB

site

ClassC

site

ClassA

site

ClassB

site

ClassC

site

Not over 15 m 66.6 75 80 3.3 3.75 4.0

15 m to 18 m 60 67 72 3.6 4.0 4.3

18 m to 21 m 56 62 67 3.9 4.3 4.7

21 m to 24 m 52 58 63 4.2 4.6 5.0

24 m to 27 m 49 55 59 4.4 4.9 5.3

27 m to 30 m 46 52 55 4.6 5.2 5.5

30 m to 36 m 42 47.5 50 5.0 5.7 6.0

36 m to 43 m 39 44 47 5.4 6.1 6.5

43 m to 49 m 37 41 44 5.9 6.5 7.0

49 m to 55 m 35 39 42 6.3 7.0 7.5

55 m to 61 m 34 38 41 6.8 7.6 8.0

Over 61 m 33.33 37.5 40 8.0 9.0 10.0

PERCENTAGE SITE COVERAGE AND PLOT RATIOS FOR HONG KONG


NON-DOMESTIC BUILDINGS

Percentage sitecoverage Plot Ratio

ClassA

site

ClassB

site

ClassC

site

ClassA

site

ClassB

site

ClassC

site

100 100 100 5 5 5

97.5 97.5 97.5 5.8 5.8 5.8

95 95 95 6.7 6.7 6.7

92 92 92 7.2 7.4 7.4

89 90 90 8.0 8.1 8.1

85 87 88 8.5 8.7 8.8

80 82.5 85 9.5 9.9 10.2

75 77.5 80 10.5 10.8 11.2

69 72.5 75 11.0 11.6 12.0

64 67.5 70 11.5 12.1 12.6

60 62.5 65 12.2 12.5 13.0

60 62.5 65 15 15 15

71 72

PROPERTYProperty Commentary

Property Indicators Gross Floor Area (GFA) Calculations in Hong Kong

Gross Floor Area (GFA) Calculations in PRC Construction Floor Area (CFA) Definition

3. PROPERTY

75 76

PROPERTY COMMENTARY

HONG KONG'S PROPERTY MARKET IN 2011

Economic overviewHong Kong’s economic growth remained stable in 2011 although the global economy outlook remained unclear amid the outbreak of the European sovereign debt crisis. Hong Kong’s GDP growth in real terms surged 4.3% in the third quarter, following a gain of 5.1% in the first half of 2011.

Visitor arrivals recorded a notable year on year growth of 16.2% in the first nine months of 2011, mainly driven by the growth in visitors from Mainland China. The value of retail sales also exhibited strong year-on-year growth of 25.4 % in the period. Meanwhile, the unemployment rate dropped to 3.3% in the three months to October, compared with 4.2% in the same period of 2010.

Looking forward, the global economy is expected to become more recessionary in the coming year and the effect will inevitably spill over to Hong Kong. As employers may become cautious about hiring because of the unclear economic outlook, the unemployment rate in Hong Kong may rise slightly in 2012. The Hong Kong government has lowered the city’s GDP growth forecast for 2012 from 5–6% to 5%.

ResidentialHong Kong's residential market slowed in 2011 by a series of regulatory government policies, such as the implementation of Special Stamp Duty, and credit tightening measures adopted by local and Mainland banks. The number of residential sales transactions totaled about 75,300 in the first ten months of the year - down 33.5% from the same period in 2010. The luxury residential market was more resilient, with transactions worth HK$10 million or above dropping a less drastic 14.3% during the same period.

Provided by : Provided by :(Cont'd)

Residential prices experienced minor downward adjustments in the third quarter, following an upward trend in the first half of the year. However, the average price of luxury homes by the end of September 2011 was still 62.4% higher than the level in November 2008, according to Rating and Valuation Department, when the market was dragged down to its trough by the global financial crisis. Mass residential prices performed even better and soared 75.7% in September 2011 compared with their trough in December 2008. In the leasing market, the average rent of luxury residential properties, by the end of September, had risen 42.2% from its trough in April 2009.

Looking forward, uncertainties in the global economy are expected to keep the volume of residential sales transactions low in 2012. Mass home prices are likely to drop about 10-15% in 2012. Luxury residential properties should be more resilient due to their limited supply, with their prices set to adjust marginally by less than 10% in 2012.

OfficeThe Grade-A office sales market continued to grow over the year, despite the introduction of lower loan-to-value ratios by the government. The average capital value of Grade-A offices rose 20.8% during the first ten months, compared with only 16.9% over 2010. The number of office sales transactions totaled 2,675 in the first nine months of 2011, up 4.3% from the same period of 2010, according to the Rating and Valuation Department.

In the leasing market, financial institutions and professional services firms scrambled for limited office space in core areas. The average Grade-A vacancy rate edged down from 3.2% in December 2010 to 2.5% in October 2011.

3. PROPERTY

77 78

PROPERTY COMMENTARY

Provided by : Provided by :

Office (Cont'd)

Aggressive corporate expansions and decreasing vacancies prompted landlords to raise their asking rents markedly, leading to a boost in office rents. By the end of November, the average rent of Grade-A offices witnessed a 21.3% year-to-date growth.

Looking forward, office demand from financial institutions - that usually favour space in core districts - is likely to slow amid the Eurozone debt crisis. Meanwhile, local firms are also expected to slow their expansion plans. Grade-A office rents in core areas will see mild corrections, while rents in non-core districts will remain stable with the support of companies moving out from core areas to these locations to save operation costs.

RetailHong Kong’s retail property market experienced strong growth in 2011 on the back of robust retail sales and increased tourist arrivals, especially those from Mainland China. Amid relatively weak economies in US and Europe, international brands expanded aggressively in Hong Kong in order to grab a share of strong spending from Mainland tourists. Competition for leasing shops in prime locations was fierce, especially among international luxury fashion brands and jewellery shops, pushing up rents of prime street shops by 20.7% year on year in the first three quarter of 2011. In the sales sector, although retail property sales transactions dropped 8.5% year on year to 5,169 in the first nine months of 2011, their total value grew by 1.1%. In view of the cooling measures implemented on the residential sector, some investors turned to acquire quality retail properties for long term growth, pushing up prime street shop prices by 18.9% in the first three quarters of the year.

In the coming year, with sustainable retail sales growth

and the continued influx of Mainland tourists, we expect international retailers will continue to expand in Hong Kong, which would push up retail rents by another 10% over 2012.

IndustrialHong Kong’s industrial property market continued to recover over 2011, in the aftermath of the global financial tsunami. The government’s new policies to encourage the change of use of industrial buildings implemented in April 2010, plus the rezoning of industrial areas proposed in October 2010, helped revitalise the industrial sales market.

There were 6,617 flatted-factory sales transactions during the first nine months of 2011, up 15.4% from the same period in 2010, with total consideration rising 45.1% to over HK$24.0 billion. The value of en-bloc industrial property sales reached about HK$4.6 billion up to mid-November 2011, up 7.2% from the same period of 2010, according to our research.

During the first nine months of 2011, prices of flatted factories grew 23.1%, while their rents increased 11.4%, according to the Rating and Valuation Department. With prices rising faster than rents, yields slid to 3.9% in September 2011, compared with 4.6% a year ago.

By the end of September, the Lands Department had approved 35 applications of change of usage under the revitalisation scheme, involving the demolition and redevelopment of nine industrial buildings as well as the wholesale conversion of 26 others, providing a total gross floor area of 380,000 sq m for non-industrial uses. We expect the acquisition of industrial buildings for redevelopment and conversion to continue in the coming year, which would further push up industrial property prices, while their rents would remain stable.

3. PROPERTY

HONG KONG GRADE-A OFFICE PRICE

HONG KONG GRADE-A OFFICE VACANCY RATES

79 80

HONG KONG GRADE-A OFFICE RENTAL VALUES

HONG KONG GRADE-A OFFICE SUPPLY

Source: Knight Frank

Source: Knight Frank Source: Rating and Valuation Department / Knight Frank

PROPERTY INDICATORS

* Oct figure * Oct figure

* Oct figure

Source: Knight Frank

3. PROPERTY

FEAT

UR

EB

UIL

DIN

G(P

LAN

NIN

G)

REG

ULA

TIO

NR

EMA

RK

S

Gen

eral

floo

r are

aA

ccou

ntab

leA

rea

with

in o

uter

sur

face

of e

xter

nal w

alls

.

Bas

emen

tA

ccou

ntab

le

Bal

cony

/ ut

ility

pla

tform

*A

ccou

ntab

leN

on-a

ccou

ntab

le if

for

res

iden

tial b

uild

ings

and

be

open

on

at le

ast

2 si

des,

max

. 50%

are

a gr

anta

ble.

Cur

tain

wal

l / c

ladd

ing

Non

-acc

ount

able

Non

- acc

ount

able

if: 1

. Th

e cu

rtain

wal

l sys

tem

itse

lf do

es n

ot fo

rm p

art o

f th

e st

ruct

ural

sys

tem

of t

he p

aren

t bui

ldin

g; 2

. Th

e sy

stem

doe

s no

t res

ult

in a

ny a

dditi

onal

floo

r are

a at

a fl

oor l

evel

; 3.

The

pro

ject

ion

of th

e sy

stem

fro

m th

e ou

ter f

ace

of th

e st

ruct

ural

ele

men

ts d

oes

not e

xcee

d 30

0 m

m.

Ext

erna

l wal

l fini

shes

(inc

ludi

ng b

ay

win

dow

s) *

Non

-acc

ount

able

Pre

cast

fac

ades

may

sub

ject

to

cond

ition

s be

exc

lude

d fr

om G

FA

calc

ulat

ion.

Pla

nt r

oom

sN

on-a

ccou

ntab

leS

ubje

ct to

just

ifica

tion

with

reas

onab

le p

lant

layo

uts.

Sta

ircas

es a

nd li

ft sh

afts

Acc

ount

able

Exc

ept s

tairc

ases

and

lift

shaf

ts s

olel

y se

rvin

g no

n-ac

coun

tabl

e ar

eas.

Cov

ered

pub

lic c

arpa

rkin

g sp

ace

Acc

ount

able

Cov

ered

priv

ate

carp

arki

ng s

pace

Non

-acc

ount

able

App

licab

le o

nly

for

spac

es s

ervi

ng u

sers

of t

he b

uild

ing

requ

ired

unde

r lo

cal s

tand

ard

and

built

bel

ow g

roun

d.

Lobb

y *

Acc

ount

able

Con

cess

ion

may

be

gran

ted

for l

ift lo

bbie

s su

bjec

t to

cond

ition

s.

Can

opy

Acc

ount

able

Non

-acc

ount

able

whe

n th

e ca

nopy

sol

ey s

erve

s as

pro

tect

ion

agai

nst

wea

ther

and

falli

ng o

bjec

t.

Ref

uge

floor

Non

-acc

ount

able

Spa

ce b

elow

ele

vate

d gr

ound

floo

rA

ccou

ntab

leN

on-a

ccou

ntab

le if

the

cove

red

area

s ar

e cl

early

inte

nded

for a

nd d

esig

ned

as p

layg

roun

d or

ded

icat

ed a

s pu

blic

pas

sage

.

Cov

ered

wal

kway

s *

Acc

ount

able

Ope

n-si

ded

cove

red

wal

kway

s fo

r co

mm

on a

reas

in

resi

dent

ial

deve

lopm

ents

may

be

exem

pted

, sub

ject

to th

e pr

opos

ed w

alkw

ays

bein

g no

t for

com

mer

cial

use

.Lo

adin

g an

d un

load

ing

bay

Non

-acc

ount

able

App

licab

le if

requ

ired

unde

r loc

al s

tand

ard/

leas

e an

d bu

ilt b

elow

gro

und.

Ref

use

stor

age

cham

bers

, ref

use

stor

age,

refu

se c

hute

s, re

fuse

ho

pper

room

sN

on-a

ccou

ntab

le

Floo

r spa

ce in

side

slo

ping

roof

Acc

ount

able

Cov

ered

are

a on

roof

-tops

Non

-acc

ount

able

Non

-acc

ount

able

for p

lant

room

s an

d st

airc

ases

onl

y.

Rec

reat

iona

l fac

ilitie

s *

Acc

ount

able

Non

-acc

ount

able

sub

ject

to c

ondi

tions

.

Spa

ces

for w

atch

men

and

m

anag

emen

t sta

ff *

Acc

ount

able

Non

-acc

ount

able

sub

ject

to c

ondi

tions

.

Ext

erna

l sta

ircas

esA

ccou

ntab

leN

on-a

ccou

ntab

le if

situ

ated

in n

on-a

ccou

ntab

le a

reas

.

GROSS FLOOR AREA (GFA) CALCULATIONS IN HONG KONG

GR

OSS

FLO

OR

AR

EA (G

FA) C

ALC

ULA

TIO

NS

IN H

ON

G K

ON

G

Dis

clai

mer

: G

FA c

alcu

latio

ns a

re s

ubje

ct to

var

ious

legi

slat

ion

and

prac

tice

note

s. A

ll ca

ses

of a

ccou

ntab

le o

r non

-acc

ount

able

GFA

ar

e su

bjec

t to

indi

vidu

al c

ondi

tions

. Th

e ab

ove

pres

ents

a b

rief s

umm

ary

only

and

use

rs a

re a

dvis

ed to

see

k pr

ofes

sion

al

advi

ce fr

om a

utho

rized

per

sons

. D

avis

Lan

gdon

& S

eah

here

with

dis

clai

ms

any

liabi

lity

that

may

aris

e fro

m u

nsol

icite

d us

e of

the

info

rmat

ion

give

n ab

ove.

* To

tal c

once

ssio

ns o

f the

se a

reas

are

sub

ject

to a

cap

of 1

0% o

f the

tota

l GFA

and

pre

requ

isite

s w

ith s

usta

inab

ility

des

igns

.

81 82

3. PROPERTY

FEAT

UR

E

NATI

ONA

L ST

ANDA

RD

- STA

NDAR

D

MEA

SURE

MEN

T FO

R

CONS

TRUC

TIO

N AR

EA O

F BU

ILDI

NG(G

B/T

5035

3-20

05)

REM

AR

KS

FOR

BEI

JIN

G, S

HA

NG

HA

I AN

D G

UA

NG

ZHO

U

Gen

eral

floo

r are

aA

ccou

ntab

leA

rea

with

in o

uter

sur

face

of e

xter

nal i

nsul

atio

n.Sh

angh

ai :

Ext

erna

l insu

latio

n is

exe

mpt

ed fr

om c

alcu

latio

n of

plo

t rat

io.

Bas

emen

tA

ccou

ntab

le1.

Bei

jing:

Non

-acc

ount

able

2. S

hang

hai :

Non

-acc

ount

able

.3.

Gua

ngzh

ou :

Acc

ount

able

for G

FA e

xcep

t whe

re th

e flo

or s

pace

is

sole

ly fo

r pla

nt ro

oms

or c

arpa

rk.

Bal

cony

/ ut

ility

pla

tform

Acc

ount

able

Cur

tain

wal

l / c

ladd

ing

Acc

ount

able

Exc

ept d

ecor

ativ

e ty

pe o

f cur

tain

wal

l.

Ext

erna

l wal

l fini

shes

(inc

ludi

ng b

ay

win

dow

s)N

on-a

ccou

ntab

le

Pla

nt r

oom

sA

ccou

ntab

le

Sta

ircas

es a

nd li

ft sh

afts

Acc

ount

able

Cov

ered

pub

lic c

arpa

rkin

g sp

ace

Acc

ount

able

Cov

ered

priv

ate

carp

arki

ng s

pace

Acc

ount

able

Lobb

yA

ccou

ntab

le

Can

opy

Acc

ount

able

Non

-acc

ount

able

sub

ject

to w

idth

of t

he c

anop

y no

t exc

eedi

ng 2

.1m

.

Ref

uge

floor

Acc

ount

able

1. S

hang

hai :

Non

-acc

ount

able

. 2.

Gua

ngzh

ou :

Onl

y re

fuge

are

as o

n re

fuge

floo

r are

non

-acc

ount

able

.

Spa

ce b

elow

ele

vate

d gr

ound

floo

rA

ccou

ntab

leN

on-a

ccou

ntab

le f

or G

FA if

for

the

usa

ge o

f w

alkw

ay,

gree

n, p

ublic

am

eniti

es o

r sim

ilar p

ublic

func

tion.

Cov

ered

wal

kway

sA

ccou

ntab

le

Load

ing

and

unlo

adin

g ba

yA

ccou

ntab

leN

on-a

ccou

ntab

le if

not

roof

ed o

ver.

Ref

use

stor

age

cham

bers

, ref

use

stor

age,

refu

se c

hute

s, re

fuse

ho

pper

room

sA

ccou

ntab

leN

on-a

ccou

ntab

le if

not

roof

ed o

ver.

Floo

r spa

ce in

side

slo

ping

roof

Acc

ount

able

Non

-acc

ount

able

if c

lear

hei

ght d

oes

not e

xcee

d 1.

2m.

Cov

ered

are

a on

roof

-tops

Acc

ount

able

1. S

hang

hai :

Non

-acc

ount

able

if th

e ar

ea o

f the

con

stru

ctio

n on

roof

-to

p do

es n

ot e

xcee

d 1/

8 of

the

area

of t

he ty

pica

l floo

r.2.

Gua

ngzh

ou:

Sta

ircas

e, li

ft lo

bby

and

wat

er ta

nk ro

om o

n ro

of-to

ps

are

exem

pted

from

GFA

Rec

reat

iona

l fac

ilitie

sA

ccou

ntab

le

Spa

ces

for w

atch

men

and

m

anag

emen

t sta

ffA

ccou

ntab

le

Ext

erna

l sta

ircas

esA

ccou

ntab

leN

on-a

ccou

ntab

le if

not

roof

ed o

ver.

GROSS FLOOR AREA (GFA) CALCULATIONS IN PRC

GR

OSS

FLO

OR

AR

EA (G

FA) C

ALC

ULA

TIO

NS

IN P

RC

83 84

Dis

clai

mer

: G

FA c

alcu

latio

ns a

re s

ubje

ct to

var

ious

legi

slat

ion

and

prac

tice

note

s. A

ll ca

ses

of a

ccou

ntab

le o

r no

n-ac

coun

tabl

e G

FA

are

subj

ect t

o in

divi

dual

con

ditio

ns.

The

abov

e pr

esen

ts a

brie

f sum

mar

y on

ly a

nd u

sers

are

adv

ised

to s

eek

prof

essi

onal

ad

vice

from

aut

horiz

ed p

erso

ns.

Dav

is L

angd

on &

Sea

h he

rew

ith d

iscl

aim

s an

y lia

bilit

y th

at m

ay a

rise

from

uns

olic

ited

use

of th

e in

form

atio

n gi

ven

abov

e.

3. PROPERTY

Financial Definitions Financial Formulae

Mortgage Repayment Table Composite CPI

Exchange Rates Currency Charts

Prime Rates Hang Seng Index

FINANCIAL

85 2

CONSTRUCTION FLOOR AREA (CFA) DEFINITION

The construction floor area measured from drawings is defined as covered floor areas fulfilling the functional requirements of the building measured to the outside face of the external walls or external perimeter.

It includes floor areas occupied by:

partitions

columns

stairwells

lift shafts

plant rooms

water tanks

balconies

utilities platforms

vertical ducts service floors higher than 2.2m and the like

But excludes floor areas occupied by:

bay windows

planters projecting from the building, and

the areas covered by canopies, roof eaves and awnings

Sloping surfaces such as staircases, escalators and carpark ramps are to be measured flat on plan.

The measurement of construction floor area is as defined byDavis Langdon & Seah.

4. FINANCIAL

FINANCIAL FORMULAEFINANCIAL DEFINITIONS

DISCOUNT RATEThe rate of return a developer expects when investing in a project.

i.e. opportunity cost.

INTERNAL RATE OF RETURN (IRR)The IRR may be defined as the interest rate that equates the present value of expected future cash flows to the cost of the investment.

The IRR can be compared to the Discount Rate.

NET PRESENT VALUE (NPV)The NPV is the present value of all future cash flows, discounted back to today's values at the Discount Rate.

The NPV indicates in today's dollars the profit or loss a developer makes above or below his required profit (based on a nominated Discount Rate).

72 RULEThe approximate number of years required to double your capital can be calculated by dividing the interest rate into 72.

e.g. If interest rate = 10% p.a.

Then 72 ÷ 10 = 7.2 years It will take approximately 7.2 years to double your capital if it is invested at 10% p.a.

PV = present value

FV = future value

PMT = payment amount

n = period (e.g. 10 years with monthly payments, n = 10 x 12 = 120)

i = interest rate per period (e.g. 12% p.a. compounded monthly; i = 12% ÷ 12 months = 1% per period)

87 88

Refer to www.hkifa.org.hk for further information.

Future value of $1 FV = PV (1 + i)n

Future value of $1 per period FV = PMT [((1+i)n - 1) ÷ i]

Sinking fund (the amount required to be put away periodically to realise some future sum)

PMT = FV [ i ÷ ((1 + i)n - 1)]

Present value of $1 PV = FV [1÷ (1+i)n]

Present value of $1 per period PV = PMT[((1+i)n -1)÷( i(1+i)n)]

Annuity with a PV of $1 (mortgage bond formula)

PMT = PV[(i (1+i)n) ÷((1+i)n -1)]

4. FINANCIAL

COMPOSITE CPIMORTGAGE REPAYMENT TABLE

Based on :

1,000 units of currency

Interest compounded monthly

Equal monthly repayments

Example:Borrow $1,000,000 to be repaid monthly at 5% p.a. over 20 years.

Repayments = 1,000,000 ÷ 1,000 x $6.60 = $6,600 per month

Note:The base index (100) applies to the period from October 2009 to September 2010.

Source : Census and Statistics Department, Hong Kong, SAR Refer to www.censtatd.gov.hk for further information.

89 90

* 01/11 to 10/11 only

Refer to www.hkmc.com.hk for an online mortgage calculator.

INTERESTp.a.

REPAYMENT (years)

10 15 20 25

1% 8.76 5.98 4.60 3.77

2% 9.20 6.44 5.06 4.24

3% 9.66 6.91 5.55 4.74

4% 10.12 7.40 6.06 5.28

5% 10.61 7.91 6.60 5.85

6% 11.10 8.44 7.16 6.44

7% 11.61 8.99 7.75 7.07

8% 12.13 9.56 8.36 7.72

9% 12.67 10.14 9.00 8.40

10% 13.22 10.75 9.65 9.09

11% 13.78 11.37 10.32 9.80

12% 14.35 12.00 11.01 10.53

13% 14.93 12.65 11.72 11.28

14% 15.53 13.32 12.44 12.04

15% 16.13 14.00 13.17 12.81

YEAR INDEX % CHANGE

1995 90.2 9.2%1996 95.9 6.3%1997 101.5 5.8%1998 104.3 2.9%1999 100.2 -3.9%2000 96.5 -3.7%2001 94.9 -1.6%2002 92.0 -3.1%2003 89.7 -2.6%2004 89.3 -0.4%2005 90.1 1.0%2006 92.0 2.0%2007 93.8 2.0%2008 97.8 4.3%2009 98.4 0.5%2010 100.7 2.4%2011* 105.5 5.2%

4. FINANCIAL

EXCHANGE RATES

Approximate rates prevailing on 30 November 2011.

91 92

Source : www.exchange-rates.orgRefer also : www.xe.com

COUNTRY CURRENCY HK$1 US$1

Australia Dollar 0.13 1.00

Brunei Dollar 0.17 1.30

Canada Dollar 0.13 1.03

China Renminbi 0.82 6.39

EU (Euro Zone) Euro 0.10 0.75

Hong Kong Dollar 1.00 7.79

India Rupee 6.70 52.18

Indonesia Rupiah 1,177.26 9,170.00

Japan Yen 10.01 77.93

Kazakhstan Tenge 19.05 148.39

Macau Pataca 1.03 7.99

Malaysia Ringgit 0.41 3.19

COUNTRY CURRENCY HK$1 US$1

New Zealand Dollar 0.17 1.31

Pakistan Rupee 11.23 87.47

Philippines Peso 5.61 43.74

Qatar Rial 0.47 3.64

Singapore Dollar 0.17 1.30

South Korea Won 146.63 1,142.14

Taiwan NT Dollar 3.89 30.27

Thailand Baht 4.02 31.32

United Kingdom Pound 0.08 0.64

United States of America Dollar 0.13 1.00

Vietnam Dong 2,709.29 21,103.31

Source : www.exchange-rates.orgRefer also : www.xe.com

4. FINANCIAL

CURRENCY CHARTS

STERLING POUND

JAPANESE YEN

AUSTRALIAN DOLLAR

RENMINBI

93 94

Source : Hong Kong Monetary Authority Refer to www.info.gov.hk/hkma for further informationRefer also : www.xe.com ; www.exchange-rates.org

Source : Hong Kong Monetary Authority Refer to www.info.gov.hk/hkma for further informationRefer also : www.xe.com ; www.exchange-rates.org

4. FINANCIAL

PRIME RATES

CHANGES IN HONG KONG PRIME RATES

PRIME RATES AND BASE LENDING RATES AS AT4TH QUARTER 2011

95 96

1 - O/N Cash Rate2 - 3-Year Benchmark Lending Rate3 - Overnight Lending Rate4 - Long-term prime rate % per annum (implementation date is 10 Dec. 2010)5 - SME Overdraft Rate (Previously Business Base Lending Rate)

Source : Hong Kong Monetary Authority Refer to www.info.gov.hk/hkma for further information.

6 - Weighted Average Lending Rate 7 - Base Rate of The Bank of Korea 8 - Minimum Loan Rate % per annum (average based on local bank) 9 - Min. and in VND per year

COUNTRY % CHANGE

Australia1 4.50

Brunei 5.50

China2 6.90

Egypt3 10.25

Hong Kong 5.00

India 14.75

Indonesia 6.00

Japan4 1.60

Macau 5.25

Malaysia 6.60

New Zealand5 10.01

Pakistan6 13.97

Philippines 5.74

Singapore 5.38

South Africa 9.00

South Korea7 3.25

Thailand8 7.71

United Kingdom 0.50

United States of America 3.25

Vietnam9 9.00

DATE % DATE %

14 Feb 2000 8.75 23 May 2005 5.7527 Mar 2000 9.00 05 Jul 2005 6.2522 May 2000 9.50 22 Jul 2005 6.5008 Jan 2001 9.00 11 Aug 2005 6.7505 Feb 2001 8.50 23 Sep 2005 7.0026 Mar 2001 8.00 03 Nov 2005 7.5023 Apr 2001 7.50 15 Dec 2005 7.7521 May 2001 7.00 30 Mar 2006 8.0003 Jul 2001 6.75 07 Nov 2006 7.7524 Aug 2001 6.50 20 Sep 2007 7.5019 Sep 2001 6.00 02 Nov 2007 7.2504 Oct 2001 5.50 12 Nov 2007 7.0008 Nov 2001 5.25 13 Dec 2007 6.7513 Dec 2001 5.125 24 Jan 2008 6.0008 Nov 2002 5.00 01 Feb 2008 5.7523 Sep 2004 5.125 20 Mar 2008 5.2512 Nov 2004 5.00 10 Nov 2008 5.0021 Mar 2005 5.25

4. FINANCIAL

cUtility Costs for Selected Asian Cities Conversion Factors

IDD Codes and Time Differences Public Holidays

Davis Langdon & Seah Professional Services DLS Infrastructure Team

DLS Interior Fitting Out Team DLS Project Monitoring Team

DLS Sustainability Services Team Directory of Offices

Telephone Directory

OTHER INFORMATION

HANG SENG INDEX

H

AN

G S

ENG

IND

EX

97 42

Ref

er to

ww

w.a

asto

cks.

com

for

furth

er in

form

atio

n.


UTILITY COSTS FOR SELECTED ASIAN CITIES

Basis of Charges in Shenzhen, China Water

Domestic : Within 22m3 = US$ 0.361/m3; 23 - 30m3 = US$ 0.541/m3; 31m3 and above = US$ 0.721/m3

Commercial : US$ 0.525/m3 Industrial : US$ 0.525/m3 Electricity Commercial : US$ 0.158/kWh Industrial : Peak = US$ 0.183/kWh; Normal = US$ 0.138/kWh; Off-peak = US$ 0.048/kWh Unleaded Fuel 90# = US$1.089/litre; 93# = US$1.174/litre; 97# = US$1.271/litre

The above costs are at 4th Quarter 2011 levels.

99 100

Basis of Charges in Hong Kong, China Water Domestic : 0 - 12m3 = Free of charge; 12 - 43m3 = US$ 0.53/m3; 43 - 62m3 = US$ 0.83/m3; Above 62m3 = US$ 1.16/m3

Electricity (Based on tariff scheme of CLP Holding Limited) Domestic (bi-monthly consumption) 0 - 400kWh = US$ 0.10/kWh; 400 - 1,000kWh = US$ 0.11/kWh; 1,000 - 1,800kWh = US$ 0.12/kWh; Above 1,800kWh = US$ 0.13/kWh

Basis of Charges in Macau, China Water

Domestic : Consumption charge (flat rate) = US$ 0.54/m3

Other charges (Depending on meter size 15mm - 200mm) : Meter rental = US$0.33 - 58.07/month; Minimum consumption fee = US$2.22 - 383/month Commercial/ Industrial :

Charges for ordinary users (e.g. Business, government buildings, schools, associations, hospitals and others) only. Special users (e.g. gaming industries, hotels, saunas, golf cources, construction, public infrastructures and other temporary consumption) are excluded.

Electricity Electricity tariff are composition of demand charges, consumption

charges, fuel clause adjustment and government tax.

Basis of Charges in Beijing and Guangzhou, China Unleaded fuel rate is for Unleaded gasoline 97.

Basis of Charges in Shanghai, China Unleaded Fuel 93# = US$1.19/litre; 97# = US$1.26/litre

Basis of Charges in Kuala Lumpur, Malaysia Unleaded fuel rate is for Unleaded petrol Ron 95.Basis of Charges in Singapore (All rates are nett of GST) Domestic water rate includes conservation tax and water-borne fee and is an average for the 1st 40m3, exclude sanitary appliance fee. Non-domestic water rate includes conservation tax and water-borne fee, exclude sanitary appliance fee. Electricity tariff is based on low tension power supply. Unleaded fuel rate is for 98 Unleaded petrol as at 15 November 2011. Diesel fuel rate as at 15 November 2011. (Cont'd)

CITYEXCHANGE

RATE

ELECTRICITY

DOMESTIC COMMERCIAL/INDUSTRIAL

US$1= US$/kWh US$/kWh

Hong Kong HK$7.80 0.10 0.11

Shanghai RMB6.35 0.097(peak) /0.048(normal)

0.16(peak) /0.077(normal)

Beijing RMB6.35 0.07 0.13

Guangzhou RMB6.35 0.09 0.17 / 0.14

Shenzhen RMB6.35 0.1066 0.048 - 0.183

Macau MOP7.97 0.11 0.12

Kuala Lumpur RM3.15 0.069 - 0.144 0.110 - 0.137

Singapore S$1.25 0.22 0.22

Jakarta IDR8,910 0.089 0.102

WATER FUEL

DOMESTIC COMMERCIAL/INDUSTRIAL DIESEL LEADED UNLEADED

US$/m3 US$/m3 US$/litre US$/litre US$/litre

0.83 0.59 1.52 N/A 2.05

0.46 0.60 1.17 N/A 1.19 - 1.26

0.63 0.98 1.08 N/A 1.13

0.20 0.43 / 0.29 0.84 N/A 1.04

0.361 - 0.721 0.525 1.177 N/A 1.089 - 1.271

0.54 0.66 1.48 N/A 1.99

0.181 - 0.635 0.657 - 0.724 0.57 N/A 0.60

1.44 1.67 1.27 N/A 1.75

0.250 0.475 0.475 N/A 0.505


UTILITY COSTS FOR SELECTED ASIAN CITIES

The above costs are at 4th Quarter 2011 levels.

101 102

Basis of Charges in Manila, Philippines Water Domestic : 32m3 - 52m3/month Commercial/Industrial : 3,204m3/month Electricity Domestic : 100kWh - 533kWh Commercial/Industrial : 222,600kWh

Water and Electricity actual billing includes miscellaneous charges such as Environmental Charge, Currency Exchange Rate Adjustment (CERA), VAT, etc.

Basis of Charges in Seoul, Korea Water Domestic = US$0.939/month (basic rate) + US$0.311/m3

(Within 30m3 usage) Commercial = US$77.39/month (basic rate) + US$1.475/m3

(Within 100m3 usage) Electricity Domestic = US$4.757/month (basic rate) + US$0.155/kWh (500kWh below in use) Commercial = US$5.243/month (basic rate) + US$0.0879/kWh (within 1,000kWh, 3,300V - 66,000V)

Basis of Charges in Tokyo, Japan (All rates are VAT inclusive) Water Domestic : Rates for 30mm diameter of water piping + Basic rate of US$41.64. Commercial / Industrial : Rates for 100mm diameter of water piping + Basic rate of US$1,146.28. Electricity 0kWh - 120kWh = US$0.217/kWh; 120kWh - 300kWh = US$0.277/kWh; Over 300kWh = US$0.292/kWh Basic rate = US$3.309 - 10A (ampere); US$9.927 - 30A (ampere); US$19.855 - 60A (ampere) is added.

Basis of Charges in Ho Chi Minh, Vietnam (All rates are VAT inclusive) Water Domestic : Used in norm = US$ 0.21; Used over norm = US$ 0.50 Industrial = US$0.35 Commercial = US$0.65 Electricity Domestic electricity rates are applied to the 301 KW above wards Fuel : Diesel fuel D.O - 0.05% : 92 and 95 Unleaded petrol as at October 2011.

Basis of Charges in Bangkok, Thailand Unleaded fuel rate is for Gasohol 95.

Basis of Charges in Karachi, Pakistan Fuel : The diesel fuel rate is for High Speed Diesel. : The unleaded fuel rate is for Premier Petrol.

CITYEXCHANGE

RATE

ELECTRICITY

DOMESTIC COMMERCIAL/INDUSTRIAL

US$1= US$/kWh US$/kWh

Bangkok BHT30.00 0.044 - 0.096 0.054 - 0.056

Manila PHP43.00 0.20 - 0.27 0.21

Brunei B$1.26 0.008 - 0.12 0.057 - 0.159

Ho Chi Minh VND21,000 0.091 0.082 - 0.141 / 0.051 - 0.092

Bangalore INR50.00 0.078 - 0.196 0.112 - 0.352

New Delhi INR50.00 0.098 - 0.167 0.123 - 0.229

Karachi PKR89.42 0.078 - 0.16 0.16 - 0.23

Seoul KRW1,146 0.155 0.0879

Tokyo JPY78.14 0.277 0.277

WATER FUEL

DOMESTIC COMMERCIAL/INDUSTRIAL DIESEL LEADED UNLEADED

US$/m3 US$/m3 US$/litre US$/litre US$/litre

0.274 - 0.466 0.306- 0.510 0.951 N/A 1.074

0.56 - 0.65 1.32 1.095 N/A 1.243

0.087 - 0.349 0.484 - 0.524 0.302 0.404 0.421

0.21 - 0.50 0.65 / 0.35 0.995 N/A 0.99 - 1.014

3.083 - 5.507 4.142 - 6.829 0.921 N/A 1.457

3.304 - 5.288 4.865 - 7.932 0.82 N/A 1.328

0.175 - 0.319 0.292 - 0.529 1.105 N/A 0.983

0.311 1.475 1.61 N/A 1.73

2.726 5.170 1.459 N/A 1.639

Basis of Charges in Brunei Electricity (Domestic) : Tariff effective from 1st Jan 2012. 1-10 kWh 10c, 11-60 kWh 8c, 61-100kWh 12c, above 100kWh 15c


CONVERSION FACTORS

103 104

Refer to www.online-unit-converter.com , www.dimensionconverter.com for further information.

UNIT

LENGTH

10 mm = 1 cm 12 in = 1 ft 100 cm = 1 m 3 ft = 1 yd 1,000 m = 1 km 1,760 yd = 1 mile

AREA

10,000 m2 = 1 ha 9 ft2 = 1 yd2

100 ha = 1 km2 4,840 yd2 = 1 acre 640 acre = 1 mile2

VOLUME

1,000 ml = 1 l (UK) 8 pt = (UK) 1 gal (US) 8 pt = (US) 1 gal 1,000 l = 1 m3

MASS

1,000 g = 1 kg 16 oz = 1 lb 1,000 kg = 1 tonne 2,240 lb = 1 ton 16 tael = 1 catty

POWER

TEMPERATURE

(APPROX) (APPROX)

1 in = 25.400 mm 1 cm = 0.394 in 1 ft = 30.480 cm 1 m = 3.281 ft 1 yd = 0.914 m 1 m = 1.094 yd 1 mile = 1.609 km 1 km = 0.621 mile

1 ft2 = 0.093 m2 1 m2 = 10.764 ft2

1 yd2 = 0.836 m2 1 m2 = 1.196 yd2

1 acre = 0.405 ha 1 ha = 2.471 acres 1 mile2 = 2.590 km2 1 km2 = 0.386 mile2

(UK) 1 pt = 0.568 l (UK) 1 l = 1.760 pt (US) 1 pt = 0.473 l (US) 1 l = 2.113 pt (UK) 1 gal = 4.546 l (UK) 1 l = 0.220 gal (US) 1 gal = 3.785 l (US) 1 l = 0.264 gal

1 oz = 28.350 g 1 gram = 0.035 oz 1 lb = 0.454 kg 1 kg = 2.205 lb 1 ton = 1.016 tonne 1 tonne = 0.984 ton 1 catty = 0.605 kg

1 hp = 0.746 kw 1 kw = 1.341 hp

(0F - 32) x 5/9 (0C x 9/5) + 32


IDD CODES AND TIME DIFFERENCES

* As compared to Hong Kong. Allowance should be made for seasonal time variations. Time differences above as at 1 January.

Source : www.worldtimeserver.com ; www.worldtimezone.com www.timeanddate.com

105 106

LOCATIONIDD

COUNTRYCODE

AREACODE

TIMEDIFFERENCE

(Hours)*

Australia: Melbourne 61 3 +3 Perth 61 8 +1 Sydney 61 2 +3Bahrain 973 - -5Bangladesh (Dhaka) 880 2 -2Bhutan (Thimphu) 975 2 -2Brunei: Bandar Seri Begawan 673 2 0 Kuala Belait 673 3 0Cambodia (Phnom Penh) 855 23 -1Canada: Toronto (Metropolitan) 1 416 -13 Vancouver 1 604/250/ 778 -16China: Beijing 86 10 0 Guangzhou 86 20 0 Hong Kong 852 - 0 Macau 853 - 0 Shanghai 86 21 0 Shenzhen 86 755 0France (Paris) 33 1 -7India: Bangalore 91 80 -2.5 Chennai 91 44 -2.5 New Delhi 91 11 -2.5 Mumbai 91 22 -2.5Indonesia: Bali 62 361 0 Jakarta 62 21 -1Ireland: Cork 353 21 -8 Dublin 353 1 -8Japan: Tokyo 81 3 +1 Osaka 81 6 +1Kazakhstan (Almaty) 7 727 -2Korea (Seoul) 82 2 +1Korea (Pyongyang) 850 2 +1Laos (Vientiane) 856 21 -1

LOCATIONIDD

COUNTRYCODE

AREACODE

TIMEDIFFERENCE

(Hours)*

Malaysia: Johor Bahru 60 7 0 Kota Kinabalu 60 88 0 Kuala Lumpur 60 3 0 Kuching 60 82 0 Penang 60 4 0Mongolia (Ulaanbaatar) 976 11 0Myanmar (Rangoon) 95 1 -1.5Nepal (Kathmandu) 977 1 -2.25New Zealand: Auckland 64 9 +5 Wellington 64 4 +5Pakistan (Karachi) 92 21 -3Philippines (Manila) 63 2 0Qatar 974 - -5Singapore 65 - 0Spain: Barcelona 34 93 -7 Girona 34 972 -7South Africa: Johannesburg 27 11 -6 Cape Town 27 21 -6Sri Lanka (Colombo) 94 1 -2.5Russia (Moscow) 7 495 -5Taiwan (Taipei) 886 2 0Thailand: Bangkok 66 2 -1 Phuket 66 76 -1United Arab Emirates: Abu Dhabi 971 2 -4 Dubai 971 4 -4United Kingdom: London 44 20 -8 Edinburgh 44 131 -8USA: Los Angeles 1 213 -16 New York 1 212 -13Vietnam: Ho Chi Minh City 84 8 -1 Hanoi 84 4 -1


PUBLIC HOLIDAYS

(Cont'd)

2011 2012

HONG KONGThe first day of January 01 Jan 01 Jan *The day following the first day of January - 02 JanLunar New Year's Day 03 Feb 23 JanThe 2nd day of Lunar New Year 04 Feb 24 JanThe 3rd day of Lunar New Year 05 Feb 25 JanChing Ming Festival 05 Apr 04 AprGood Friday 22 Apr 06 AprThe day following Good Friday 23 Apr 07 AprEaster Monday 25 Apr 09 AprBuddha's Birthday 10 May 28 AprLabour Day 01 May 01 MayThe day following Labour Day 02 May -Tuen Ng Festival 06 Jun 23 JunHKSAR Establishment Day 01 Jul 01 Jul @

The day following HKSAR Establishment Day - 02 JulThe day following the Chinese Mid-Autumn Festival 13 Sep 01 Oct #National Day 01 Oct 01 Oct #The day following National Day - 02 OctChung Yeung Festival 05 Oct 23 OctChristmas Day 25 Dec 25 DecThe 1st week-day after Christmas Day 26 Dec 26 DecThe 2nd week-day after Christmas Day 27 Dec -

* As the first day of January in 2011 falls on a Sunday, the day following will be designated as an additional general holiday.

@ As the HKSAR Establishment Day in 2012 falls on a Sunday, the day following will be designated as an additional holiday.

# As the day following Mid-Autumn Festival and National Day in 2012 fall on the same day, one additional holiday will be granted following the National Day.

2011 2012

CHINA

New Year's Day @ 01 Jan 01 JanChinese New Year's Eve 02 Feb 22 JanChinese New Year ₲ 03 Feb 23 Jan

04 Feb 24 JanTomb-Sweeping Day Ω 05 Apr 04 AprLabour Day δ 01 May 01 MayDragon-Boat Festival φ 06 Jun 23 JunMid-Autumn Festival 12 Sep 30 SepNational Day ᵬ 01 Oct 01 Oct

02 Oct 02 Oct 03 Oct 03 Oct

@ 2 & 3 January are holidays, 31 December 2011 is working day.₲ 25-28 January are holidays, 21 and 29 January are working

days.Ω 2 & 3 April are holidays, 31 March and 1 April are working

days.δ 29 & 30 April are holidays, 28 April is working day.φ 22 & 24 June are holidays.ᵬ 4 - 7 October are holidays, 29 September is working day.

107 108


PUBLIC HOLIDAYS

(Cont'd)

109 110

2011 2012

MACAUNew Year's Day 01 Jan 01 Jan @ The first working day after New Year's Day - 02 Jan #Lunar New Year's Eve (Afternoon) 02 Feb -Lunar New Year's Day 03 Feb 23 JanThe 2nd day of Lunar New Year 04 Feb 24 JanThe 3rd day of Lunar New Year 05 Feb 25 JanChing Ming Festival 05 Apr 04 AprGood Friday 22 Apr 06 AprThe day following Good Friday 23 Apr 07 Apr @

Easter Monday 25 Apr 09 Apr #Labour Day 01 May 01 MayThe day following Labour Day 02 May -The Buddha's Birthday 10 May 28 Apr @

The first working day after the Buddha'a Birthday - 30 Apr #Tuen Ng Festival (Dragon Boat Festival) 06 Jun 23 JunThe first working day after Tuen Ng Festival - 25 Jun #Bank's Holiday 01 Jul 02 JulNational Day 01 Oct 01 OctThe day following National Day 02 Oct 02 OctThe first weekday following National Day 03 Oct -The day following Mid-Autumn Festival 13 Sep -Chung Yeung Festival 05 Oct 23 OctAll Soul's Day 02 Nov 02 NovFeast of the Immaculate Conception 08 Dec 08 Dec @

The first working day after Feast of Immaculate Conception - 10 Dec #Macau SAR Establishment Day 20 Dec 20 DecWinter Solstice 22 Dec 21 Dec @

Christmas Eve 24 Dec 24 DecChristmas Day 25 Dec 25 DecThe day following Christmas Day 26 Dec -Bank's Holiday 27 Dec 26 DecNew Year's Eve (Afternoon) - 31 Dec #

@ Not applicable to Banks# Special holiday granted by the Chief Executive

2011 2012

BRUNEINew Year's Day ** 01 Jan 02 JanChinese New Year 03 Feb 23 JanProphet Muhammad's Birthday ** 15 Feb 06 FebNational Day 23 Feb 23 FebRoyal Brunei Armed Forces Anniversary 31 May 31 MayIsrak Mikraj ** 29 Jun 18 JunHis Majesty's Birthday ** 16 Jul 16 JulFirst Day of Ramadhan * 01 Aug 21 JulAnniversary of the Revelation of the Holy Koran * 17 Aug 06 AugHari Raya Aidifitri * 30 Aug 20 AugHari Raya Aidifitri (2nd Day) * 31 Aug 21 AugHari Raya Aidil Adha * & ** 07 Nov 26 OctFirst Day of Hijrah * & ** 28 Nov 15 NovChristmas Day * 26 Dec 25 Dec

Notes : Fridays and Sundays are government off days * Subject to change ** Replacement for Fridays / Sundays

INDIANew Year's Day 01 Jan 01 JanSankranthi 14 Jan 14 JanRepublic Day 26 Jan 26 JanGood Friday 22 Apr 06 AprMay Day 01 May 01 MayIndependence Day 15 Aug 15 AugGandhi Jayanthi 02 Oct 02 OctKarnataka Formation Day 01 Nov 01 NovDeepavali 26 Oct 13 NovChristmas Day 25 Dec 25 Dec


PUBLIC HOLIDAYS

(Cont'd)

111 112

2011 2012

INDONESIANew Year's Day 01 Jan 01 JanChinese New Year (Imlek) 03 Feb 23 JanProphet Muhammad's Birthday 15 Feb 05 FebHindu Day of Quiet (Nyepi) 05 Mar 23 MarGood Friday 22 Apr 06 AprWaicak Day 17 May 06 MayAscension Day of Jesus Christ 02 Jun 17 MayAscension of Prophet Mohammad * 29 Jun 17 JunNational Independence Day 17 Aug 17 AugIdul Fitri * 30 Aug 19 Aug

31 Aug 20 AugIdul Adha Day 06 Nov 26 OctHijriyah New Year 27 Nov 15 NovChristmas Day 25 Dec 25 Dec

* Subject to change

JAPANNew Year's Day * 01 Jan 02 JanComing of Age Day 10 Jan 09 JanNational Foundation Day * 11 Feb 11 FebSpring Equinox Day * 21 Mar 20 MarDay of Showa * 29 Apr 30 AprConstitution Memorial Day * 03 May 03 MayGreenery Day * 04 May 04 MayChildren's Day * 05 May 05 MayMarine Day 18 Jul 16 JulRespect for Senior Citizens Day 19 Sep 17 SepAutumnal Equinox Day * 23 Sep 22 SepPhysical Fitness Day 10 Oct 08 OctCulture Day * 03 Nov 03 NovLabour Thanksgiving Day * 23 Nov 23 NovThe Emperor's Day * 23 Dec 23 Dec

* When Public Holiday falls on a Sunday, the day following Monday

is an alternative holiday.

2011 2012

MALAYSIANew Year's Day ^ 01 Jan 01 Jan#

Chinese New Year @ 03 Feb 23 Jan 04 Feb 24 Jan

Prophet Muhammad's Birthday 15 Feb 05 Feb#

Labour Day 01 May 01 MayWesak Day 17 May 05 MayKing/Agong's Birthday 04 Jun 02 JunHari Raya Aidilfitri * 30 Aug 19 Aug 31 Aug 20 Aug#

National Day 31 Aug 31 AugMalaysia Day 16 Sep 16 Sep#

Hari Raya Qurban * 06 Nov 26 OctDeepavali * 26 Oct 13 NovAwal Muharam (Maal Hijrah) 27 Nov 15 NovChristmas Day 25 Dec 25 Dec

* Subject to change^ Except Johor, Kelantan, Kedah, Perlis and Terengganu@ 2nd Day except Kelantan and Terengganu# The following day will be an additional holiday

PAKISTANKashmir Day 05 Feb 05 FebEid-e-Milad-un-Nabi * 16 Feb 05 FebPakistan Day 23 Mar 23 MarLabour Day 01 May 01 MayIndependence Day 14 Aug 14 AugEid al-Fitr (End of Ramadan) * 31 Aug 19 Aug

01 Sep 20 Aug- 21 Aug

Eid ul-Azha (Feast of the Sacrifice) * 07 Nov 26 Oct 08 Nov 27 Oct

09 Nov -Allama Muhammad lqbal Day 09 Nov 09 NovAshoura * 05 Dec 24 Nov

06 Dec 25 NovQuaid-e-Azam's Birthday 25 Dec 25 Dec

* Subject to change


PUBLIC HOLIDAYS

113 114

(Cont'd)

2011 2012

PHILIPPINESA. Regular Holidays New Year's Day 01 Jan 01 JanMaundy Thursday 21 Apr 05 AprGood Friday 22 Apr 06 AprAraw ng Kagitingan 09 Apr 09 AprLabour Day 01 May 01 MayIndependence Day 12 Jun 12 JunEnd of Eid-ul-Fitre 31 Aug 19 AugNational Heroes' Day 30 Aug 30 AugEid-ul Adha 07 Nov 26 OctBonifacio Day 30 Nov 30 NovChristmas Day 25 Dec 25 DecRizal Day 30 Dec 30 DecB. Special Holidays (Non-Working Holidays) Ninoy Aquino Day 21 Aug 21 AugAll Saint's Day 01 Nov 01 NovLast Day of the Year 31 Dec 31 Dec

SOUTH KOREANew Year's Day 01 Jan 01 JanLunar New Year (Seol) 02 Jan 23 Jan

03 Feb 24 Jan 04 Feb -

Independent Movement Day 01 Mar 01 MarBuddha's Birthday 10 May 28 MayChildren's Day 05 May 05 MayMemorial Day 06 Jun 06 JunLiberation Day 15 Aug 15 AugNational Foundation Day 03 Oct 03 OctFull Moon Day (Chuseok) 11 Sep 29 Sep

12 Sep 30 Sep 13 Sep 01 Oct

Christmas Day 25 Dec 25 Dec

2011 2012

SINGAPORENew Year's Day 01 Jan 01 Jan@

Chinese New Year 03 Feb 23 Jan 04 Feb 24 Jan

Good Friday 22 Apr 06 AprLabour Day 01 May 01 MayVesak Day 17 May 05 MayNational Day 09 Aug 09 AugHari Raya Puasa 30 Aug 19 Aug@

Deepavali * 26 Oct 13 NovHari Raya Haji 06 Nov 26 OctChristmas Day 25 Dec 25 Dec

* Subject to change.@ The following Monday will be a public holiday.

TAIWANFounding Day 01 Jan 01 JanLunar New Year's Eve 02 Feb 22 JanLunar New Year's Day 03 Feb 23 JanThe 2nd day of Lunar New Year 04 Feb 24 JanThe 3rd day of Lunar New Year 05 Feb 25 JanThe 4th day of Lunar New Year 06 Feb 26 JanThe first weekday after Lunar New Year 07 Feb -Public Holiday - 27 Jan *Public Holiday - 27 Feb @

Peace Memory Day 28 Feb 28 FebWomen Day and Children's Day 04 Apr 04 AprChing Ming Festival 05 Apr 04 AprLabour Day 01 May 01 MayDragon Boat Festival 06 Jun 23 JunMid-Autumn Festival 12 Sep 30 SepDouble Ten Day 10 Oct 10 OctPublic Holiday - 31 Dec #

* As 4-Feb. is adjusted to work, this day is adjusted to holiday@ As 3-Mar. is adjusted to work, this day is adjusted to holiday# As 22-Dec. is adjusted to work, this day is adjusted to holiday


PUBLIC HOLIDAYS

115 116

2011 2012

THAILAND

New Year's Day 03 Jan 02 Jan1

Chinese New Year * 03 Feb 23 JanMakha Bucha Day 18 Feb 07 MarChakri Memorial Day 06 Apr 06 AprSongkran Festival 13 Apr 13 Apr

14 Apr 14 Apr 15 Apr 15 Apr

- 16 Apr2

National Labour Day 02 May 01 MayCoronation Day 05 May 07 May3

Visakha Bucha Day 17 May 04 JunRoyal Ploughing Ceremony Day + 13 May 09 MayMid Year Bank Holiday @ 01 Jul 01 JulAsarnha Bucha Day 15 Jul 02 AugKhao Phansa Day (Buddhist Lent Day) + 18 Jul 03 AugH.M. The Queen's Birthday 12 Aug 13 Aug4

Chulalongkorn Day 24 Oct 23 OctH.M. The King's Birthday 05 Dec 05 DecConstitution Day 12 Dec 10 DecNew Year's Eve 31 Dec 31 Dec

* Unofficial Chinese Community only@ Banks only+ Government only1 - Substitute for 31 December 2011 (Saturday) and 01 January 2012 (Sunday)2 - Substitute for 14 April 2012 (Suturday) and 15 April 2012 (Sunday)3 - Substitute for 05 May 2012 (Saturday)4 - Substitute for 12 August 2012 (Sunday)

2011 2012

VIETNAM

Normal Scheduled Holidays Solar New Year 03 Jan 02 Jan*Lunar New Year 03 Feb 23 Jan

04 Feb 24 Jan 07 Feb 25 Jan

- 26 Jan#

Hung Vuong King Celebration 12 Apr 02 Apr@

Liberation Day of Saigon 02 May 30 AprInternational Labour Day 03 May 01 MayNational Day 02 Sep 03 SepΩ

Christmas Day 25 Dec 25 Dec

* Substitute for 1 January 2012 (Sunday)# Substitute for 22 January 2012 (Sunday)@ Substitute for 31 March 2012 (Saturday)Ω Substitute for 02 September 2012 (Sunday)


DAVIS LANGDON & SEAH PROFESSIONAL SERVICES

Project Types :

New-build

Maintenance and alteration

Infrastructure and civil engineering

M&E building services

Fitting-out

Normal Services :

Feasibility studies

Preliminary cost advice and planning

Analysis of cost/design options

Advice on best-fit procurement and contractual arrangements

Cash flow projections

Contractor pre-qualification

Preparation of tender documents

Negotiation with contractors

Contract documents

Visiting site and valuation of works in progress

Assessing the cost of proposed variations

Attending site and other meetings

Preparation of regular financial reports

Settlement of final cost with contractors and sub-contractors

Advice on contractors' claims

Special Services :

Value engineering

Lender's agent

Reinstatement assessments for fire insurance

Asset registers and depreciation calculations

Project Monitoring

Due diligence studies

Legal support

Expert witness

Project management

Life cycle costing

117 118


DLS Infrastructure Team is a distinct unit within Davis Langdon and Seah, which specializes in providing cost and procurement management services to the transport and infrastructure sectors of the construction industry.

The core service sectors served by this unit are rail, road and airports.

The team typically works as part of multi-disciplinary design teams in dedicated project offices.

The core services provided by the Infrastructure Team include: -

Initial Feasibility Studies Providing initial project cost advice to major infrastructure projects, quantified estimates of civil, structural, architectural and building services.

Detailed Design Pre and Post Contract ServicesPreparing Schematic Design Estimates and Detailed Design Estimates, estimates on alternatives, tender documentation, pre-tender estimates and post contract financial control and reporting.

Specialist Construction Technique AdviceThe team is experienced in working closely with civil and structural engineers to advise on costs for specialist construction techniques such as: -

Tunneling in rock and soft ground conditions

Underground / Above-ground stations

Rail viaduct construction

Bridge construction

Noise mitigation

Diaphragm walling and other specialist foundation and ground treatment works

Marine land reclamation

Specialist rail M&E and systems services, including tunnel ventilation, power and control

Airport systems and ground field services

Ports

Value Engineering StudiesProject-related and product-related research studies into cost, value and time benefits of various design options. The infrastructure team has developed its own discrete historical database which is available to supplement real-time cost analysis.

Contractual SolutionsIndependent advice and contractual solutions relating to all aspects of the infrastructure market.

119 120

DLS INFRASTRUCTURE TEAM


The DLS Interior Fitting-Out Team is a dedicated un i t w i th in Dav is Langdon and Seah wh ich specializes in providing both Quantity Surveying and Project Management Services for interior fitting-out projects.

The team has developed a particular expertise in financial sector fit-outs, but also works extensively on office, retail, hospitality and telecommunication projects.

Quantity Surveying Services

As a supplement to our traditional Quantity Surveying Services, the team has the expertise to provide up-to-date knowledge and information on fitting-out projects and can advise tenants, occupiers, building owners, project managers and interior designers on:

Elemental cost of fitting-out works

Cost analysis of functional areas

Comparative cost advice on alternative materials, systems and methods

Key fitting-out cost drivers and design issues

Programme/build-out rates

Procurement methods

Contractor/trade contractor database

Project Management Services

The team has the experience and expertise to provide all aspects of project management services to fitting-out projects including due diligence, feasibility studies, value engineering, budget development, end-user co-ordination, design co-ordination, programming, procurement management, construction and site management, move management etc.

Providing a cost effective and independent service, the team manages client input, integrates and co-ordinates the different disciplines and handles external expertise and resources to achieve the project objectives.

The team has in place proven systems and management procedures including detailed project programming skills, construction documentation, cost planning, critical path analysis to ensure:

Project objectives are achieved by completing on time, within the approved cost and to the required quality standards.

Communications with end-users, client representatives, stakeholders, other consultants and contractors are maintained throughout the duration of the project.

121 122

DLS INTERIOR FITTING OUT TEAM


Project Monitoring is a distinct extension from our core business in cost management services. Our specialized Project Monitoring Team is a selection of proactive and versatile quantity surveying and project management professionals who are fully acquainted with the intricacies of the development, design and construction process and understand the underlying key value drivers. The very purpose of this dedicated unit is to “protect the Client’s interest by identifying and advising on the risks associated with acquiring an interest in a development that is not under the Client’s direct control”.

The team has the experience and expertise to act as an investigator and advisor to Clients such as:- funding institutions, which will acquire the scheme as

an investment upon completion; or tenants or purchasers which enter into a commitment

to lease or purchase a property upon completion; or banks or other financiers where a loan matures at the

end of the development period; grant funders; or private finance initiative funders and end users

With the Project Monitor as their “eyes and ears” during the development process, the Clients would have: enhanced risk control; enhanced cost control; enhanced programme control; and enhanced quality control.

Project Monitoring services can broadly be broken down into two stages:-Stage 1: Initial Due DiligenceStage 2: Monitoring

Initial Due DiligenceThis comprises a comprehensive audit and examination of the scheme, generally carried out prior to the commencement of the construction on site.

The following aspects of the scheme to be monitored will be checked and appraised as appropriate:-

Development appraisal Development cash flow Construction cash flow Design information - drawings, specifications,

performance information Construction information quality - scope and breadth

of information Proposed project team - competency, track record,

reputation, suitability Project team appointments - scope of service, fee

levels, etc Construction cost appraisal Programme - development and construction

programme Procurement route - both development level and site

level Technical reports and investigations Insurance provisions - construction, design, site

insurances, etc Statutory approvals and requirements Statutory authority services issues Legal issues - warranties, step in provision into

contracts Construction contract provision - suitability, scope,

status Health and safety strategy and administrative

compliance

The report to be produced at this initial due diligence stage will provide a complete picture of the development on its cost, time, quality and project team. The Project Monitor will advise the Client on the risks associated with the development and provide recommendations on how to address said risks.

DLS PROJECT MONITORING TEAM

(Cont'd)

123 124


Monitoring

As this second stage of the project monitoring remit, a more cyclical approach is taken to the now active scheme.

Generally monthly or at other agreed intervals, the Project Monitor will visit the site and meet relevant project team members to gather and analyse pertinent information including, inter alia, contractor's reports, developer/project manager's reports, architect's and other consultants' reports and to produce a Periodic Monitoring Report which addresses:- Progress against programme Financial positions against budgeted allowance Any variations or additional items instructed/anticipated General quality standards Progression of any issues outstanding in the initial due

diligence report, or the previous monitoring report

The monitoring report should further consider other related concern if necesarry, such as:-

Insurances - in place and up to date Warranty status Planning condition Building regulation status Health and safety issues General labour levels and productivity to gauge

progress against cash flow and programme Prevailing condition and organization of the site

Generally, the purpose of the monitoring report (or interim report) is to give the Client a view as to the progress and status of the scheme each period, along with an assessment of the construction cash flow, expenditure and cost to complete for the project.

No two Clients will require exactly the same Project Monitoring services coverage. DLS will fully discuss and explore with each Client in the light of the Client’s purpose and the particulars of the development to understand the key concerns and requirement and agree upon a bespoke scope of services “best fit for the purpose”.

The DLS Sustainability Services Team is a dedicated unit within Davis Langdon and Seah specializing in providing services for sustainability issues.

The achievement of ‘green’ buildings can be recognized and certified by joining the voluntary assessment schemes administered by independent organizations.

Two of the more familiar assessment schemes and green building labelling systems currently adopted in Hong Kong are:-

1. Hong Kong Building Environmental Assessment Method (BEAM Plus) developed by the BEAM Society which is a locally based organization.

2. Leadership in Energy and Environmental Design (LEED) developed by the U.S. Green Building Council which is perhaps a more popular rating system globally.

Hong Kong Building Environmental Assessment Method (BEAM Plus)

The assessment method covers development of both new and existing buildings and BEAM Plus Version 1.1 is the latest version launched in April 2010. The various performance aspects covered are grouped within the following categories and credits are assigned for individual items under each category:-1. Site Aspects (SA)2. Materials Aspects (MA)3. Energy Use (EU)4. Water Use (WU)5. Indoor Environmental Quality (IEQ)6. Innovations and Additions (IA)

There are four levels of award classifications:-1. Platinum (Excellent)2. Gold (Very Good)3. Silver (Good)4. Bronze (Above Average)

DLS PROJECT MONITORING TEAM

125 126

DLS SUSTAINABILITY SERVICES TEAM

(Cont'd)


The overall assessment grade is based on the percentage of applicable credits obtained. As BEAM Plus stresses the importance of Site Aspects (SA), Energy Use (EU) and Indoor Environmental Quality (IEQ), there is a minimum percentage of credits for SA, EU and IEQ needed to be achieved to qualify for the overall grade.

Further details on BEAM Plus can be found at their web site http://www.hk-beam.org.hk.

Leadership in Energy and Environmental Design (LEED)

LEED rating systems include New Construction (NC), Commercial Interiors (CI), Core and Shell (CS), Existing Buildings (EB), Homes and Neighbourhood Development. There are also market sector rating systems for Schools, Multi-building/Campuses, Retail, Healthcare and Laboratories.

Again, the certification is divided into four levels:-

1. Platinum2. Gold3. Silver4. Certified

The following credit categories are applicable to all LEED rating systems:-

1. Sustainable Sites (SS)2. Water Efficiency (WE)3. Energy and Atmosphere (EA)4. Materials and Resources (MR)5. Indoor Environmental Quality (IEQ)6. Innovation in Design (ID)7. Innovation in Operations (IO)8. Regional Priority (RP)

The certification level depends on the points achieved. However, there are specific prerequisites in the Sustainable Sites (SS), Water Efficiency (WE), Energy and Atmosphere (EA), Materials and Resources (MR) and Indoor Environmental Quality (IEQ) sections which must be obtained.

Further information on LEED can be found at the US Green Building Council’s web site http://www.usgbc.org.

DLS's Involvement in Sustainability Services

DLS’s sustainability services are summarized as follows:-

1. Preparing capital cost estimates for the design as prepared by the Architect/Engineer, with separately identifiable line items for each specific green provision.

2. Life cycle costing - calculating maintenance and energy consumption costs over the life span of a building.

3. Cost benefit analysis - comparing initial capital costs of green provisions against the associated benefits achieved during the building’s life.

4. Procurement of green provisions - recommending contract packaging and tendering strategy for green provisions. Drafting tender documents for procurement.

5. Project cost reporting - regular financial reporting during the design and construction phases to ensure pre-agreed budgets for green initiatives are met.

DLS SUSTAINABILITY SERVICES TEAM

127 128


DIRECTORY OF OFFICES

(Cont'd)

CHINAHONG KONGDAVIS LANGDON & SEAH HONG KONG LIMITEDDAVIS LANGDON & SEAH CHINA LIMITEDDLS MANAGEMENT LIMITED38/F Two Landmark East100 How Ming StreetKwun Tong, KowloonHong KongTel : (852) 2830 3500Fax : (852) 2576 0416Email : [email protected] : www.dlsqs.com Contact : Lee Ying Kee, Joseph

BEIJINGDAVIS LANGDON & SEAH (BEIJING) CONSTRUCTION CONSULTANTS CO. LTD.Suite 1225 - 1238Junefield Plaza, Central Tower South10 Xuan Wu Men Wai StreetBeijing 100052ChinaTel : (86 10) 6310 1136Fax : (86 10) 6310 1143Email : [email protected] : Chan Chi Keung, Andrew

CHENGDUDAVIS LANGDON & SEAH CONSULTANCY (CHENGDU) CO. LTD.Room 807, Block ATimes Plaza2 Zong Fu RoadChengdu, Sichuan Province 610016ChinaTel : (86 28) 8671 8373Fax : (86 28) 8671 8535Email : [email protected] : Chan Hoi Or, Joe

CHONGQINGDAVIS LANGDON & SEAH CHINA LIMITED CHONGQING REPRESENTATIVE OFFICERoom 3408, International Trade Centre38 Qing Nian RoadCentral DistrictChongqing City 400010ChinaTel : (86 23) 8655 1333Fax : (86 23) 8655 1616Email : [email protected] : Chan Hoi Or, Joe / Lin Wai Yip, Gary

DALIANDAVIS LANGDON & SEAH (BEIJING) CONSTRUCTION CONSULTANTS CO. LTD. DALIAN BRANCHUnit 07, 32F, Xiwang Tower136 Zhongshan RoadZhongshan DistrictDalian, Liaoning Province 116001ChinaTel : (86 411) 8800 8018Fax : (86 411) 8800 8823Email : [email protected] : Ng Kin Kan, Kenn

FOSHANDAVIS LANGDON & SEAH CONSULTANCY (SHENZHEN) CO. LTD. FOSHAN BRANCHUnit 1803 Room 218/F Hua Hui Mansion46 Zu Miao RoadFoshan, Guangdong Province 528000ChinaTel : (86 757) 8203 0028Fax : (86 757) 8203 0029Email : [email protected] : Wong Wing Cheng, Jack

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ASIA PACIFIC


GUANGZHOUDAVIS LANGDON & SEAH CONSULTANCY (SHENZHEN) CO. LTD. GUANGZHOU BRANCHUnit 2711 - 2713 & 2718Bank of America Plaza555 Ren Min Zhong RoadGuangzhou, Guandong Province 510145ChinaTel : (86 20) 8130 3813Fax : (86 20) 8130 3812Email : [email protected] : Wong Wing Cheng, Jack

HANGZHOUDAVIS LANGDON & SEAH CONSULTANCY (SHANGHAI) CO. LTD. HANGZHOU BRANCHRoom 2305, WinNing International100 Min Xin RoadHangzhou, Zhejiang Province 310016ChinaTel : (86 571) 2829 7766Fax : (86 571) 2829 7622Email : [email protected] : Lai Pak Hung

MACAUDAVIS LANGDON & SEAH MACAU LIMITED14 Andar BEdifacio Commercial Rodrigues599 Avenida da Praia Grande MacauTel : (853) 2833 1710Fax : (853) 2833 1532Email : [email protected] : Chan Yuk Sim, Katherine

SANYADAVIS LANGDON & SEAH CONSULTANCY (SHENZHEN) CO. LTD. SANYA BRANCH1206 Skyline Tower119 Yingbin RoadSanya, Hainan Province 572000ChinaTel : (86 898) 3828 0878Fax : (86 898) 3828 0678Email : [email protected] : Lee Kwok Wing, Dickey

SHANGHAIDAVIS LANGDON & SEAH CONSULTANCY (SHANGHAI) CO. LTD.Room 1582, Tower BCity Centre of Shanghai100 Zun Yi RoadShanghai 200051ChinaTel : (86 21) 6091 2800Fax : (86 21) 6091 2999Email : [email protected] : Lai Pak Hung

SHENYANGDAVIS LANGDON & SEAH (BEIJING) CONSTRUCTION CONSULTANTS CO. LTD. SHENYANG BRANCHRoom 8-9, 11/FE Tower of Fortune Plaza59 Beizhan RoadShenhe DistrictShenyang City, Liaoning Province 110013ChinaTel : (86 24) 3128 6678Fax : (86 24) 3128 6983Email : [email protected] : Kwok Hiu Larm, Frank / Chow Hau Ming, Simon

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ASIA PACIFIC (Cont'd)


SHENZHENDAVIS LANGDON & SEAH CONSULTANCY (SHENZHEN) CO. LTD.Room E & F, 42/FWorld Finance Centre, Block A4003 East Shennan RoadShenzhen, Guangdong Province 518001ChinaTel : (86 755) 8269 0642Fax : (86 755) 8269 0641Email : [email protected] : Lo Kwok Chu, Kenneth

SUZHOUDAVIS LANGDON & SEAH CONSULTANCY (SHANGHAI) CO. LTD. SUZHOU BRANCHRoom 1606, Century Financial Tower1 Suhua Road, Industrial ParkSuzhou, Jiangsu Province 215021ChinaTel : (86 512) 8777 5599Fax : (86 512) 8777 5600Email : [email protected] : Lai Pak Hung / Zhang Rui

TIANJINDAVIS LANGDON & SEAH CONSULTANCY CO. LTD. TIANJIN BRANCH4002, 40/FTianjin World Financial Centre Office Tower2 Dagubei RoadHeping DistrictTianjin 300020 ChinaTel : (86 22) 2329 9611Fax : (86 22) 2319 3186Email : [email protected] : Wong Chin Ying

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WUHANDAVIS LANGDON & SEAH CONSULTANCY (SHANGHAI) CO. LTD. WUHAN BRANCHRoom B, 5th Floor2-1 Building, Wuhan Tiandi68 Lu Gou Qiao RoadWuhan City, Hubei Province 430010ChinaTel : (86 27) 5920 9299Fax : (86 27) 5920 9298Email : [email protected] : Lee Kwok Wing, Dickey

BRUNEIBANDAR SERI BEGAWANDAVIS LANGDON & SEAHJURUUKUR BAHAN UTAMA - DLSUnit 25, BT Complex, Kg. Jaya SetiaMukim Berakas 'A' BB2713Bandar Seri Begawan BS8670Negara Brunei DarussalamGPS : 4.9394, 114.9377Tel : (673) 233 2833Fax : (673) 233 2933Email : [email protected] : Shafie Yusof / Justin Teoh

KUALA BELAITPETROKON UTAMA SDN BHD3rd Floor, Hong Kong Bank ChambersJalan McKerronP.O. Box 811Kuala Belait KA1131Negara Brunei DarussalamTel : (673) 333 5718Fax : (673) 333 5717Email : [email protected] : Shafie Yusof



HYDERABADDAVIS LANGDON & SEAH CONSULTING INDIA PVT. LTD.2nd Floor, Trade Fair OfficeHitex Exhibition CenterIzzat NagarHyderabad 500084IndiaTel : (91 40) 2311 4942Fax : (91 40) 2311 2942Email : [email protected] : Jim Pollock / Lorimer Doig / Ramamurthi Karthikeyan

MUMBAIDAVIS LANGDON & SEAH CONSULTING INDIA PVT. LTD.1204/5/6, Maithili's SignetPlot No. 39/4, Sector No. 30AVashiNavi Mumbai 400703IndiaTel : (91 22) 4156 8686Fax : (91 22) 4156 8615Email : [email protected] : Jim Pollock / Lorimer Doig / Darshan Joshi

PUNEDAVIS LANGDON & SEAH CONSULTING INDIA PVT. LTD.Office No. 02/A, 'Arvind Apartment'First Floor, CTS 1130/31, Survey No. 93Fergusson College RoadNear Dyaneshwar Paduka ChowkShviagnagarPune 411005IndiaTel : (91 20) 2551 4980Contact : Lorimer Doig

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INDIABANGALOREDAVIS LANGDON & SEAH CONSULTING INDIA PVT. LTD.3rd Floor, Raheja ChanceryNo. 133 Brigade RoadBangalore 560025IndiaTel : (91 80) 4123 9141Fax : (91 80) 4123 8922Email : [email protected] : Jim Pollock / Lorimer Doig / Velan Murali / Biju AK

CHENNAIDAVIS LANGDON & SEAH CONSULTING INDIA PVT. LTD.New No. 125 (Old No. 63)Jammi Building, 1st FloorRoyapettah High RoadMylaporeChennai 600004IndiaTel : (91 44) 2498 8141Fax : (91 44) 2498 8137Email : [email protected] : Jim Pollock / Lorimer Doig / Sankar Ramakrishnan

DELHIDAVIS LANGDON & SEAH CONSULTING INDIA PVT. LTD.The Elements2nd Floor, Unit No. 465Udyog Vihar, Phase-VGurgaon, Haryana 122016IndiaTel : (91 124) 4430 8790Fax : (91 124) 4430 8793Email : [email protected] : Jim Pollock / Lorimer Doig / Arun Basu



JOHORDAVIS LANGDON & SEAH (MALAYSIA) SDN BHDJURU UKUR BAHAN MALAYSIAJUBM SDN BHDDLS PROJEKS SDN BHD47 Jalan Setia Tropika 1/30Taman Setia Tropika81200 Johor BahruJohor Darul TakzimMalaysiaTel : (60 7) 232 8300Fax : (60 7) 232 8232Email : [email protected] : Syed Mahadzir Syed Ahmad

PENANGDAVIS LANGDON & SEAH (MALAYSIA) SDN BHDJURU UKUR BAHAN MALAYSIAJUBM SDN BHDDLS PROJEKS SDN BHDSuite 3A-3, Level 3AWisma Great EasternNo. 25, Lebuh Light10200 PenangMalaysiaTel : (60 4) 264 2071 / 264 2072 / 264 2073Fax : (60 4) 264 2068Email : [email protected] : Mohd Faiz Awang

SABAHDAVIS LANGDON & SEAH (MALAYSIA) SDN BHDJURU UKUR BAHAN MALAYSIAJUBM SDN BHDDLS PROJEKS SDN BHDSuite 8A, 8th Floor, Wisma PendidikanJalan PadangP.O. Box 11598, 88817 Kota KinabaluSabahMalaysiaTel : (60 88) 223 369Fax : (60 88) 216 537Email : [email protected] : Ang Kun Eng (Cont'd)

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INDONESIAJAKARTAP.T. DAVIS LANGDON & SEAH INDONESIALevel 18Ratu Plaza Office TowerJalan Jenderal Sudirman 9Jakarta 10270IndonesiaTel : (62 21) 739 7550Fax : (62 21) 739 7846Email : [email protected] : Peter Robinson / Stephen Osborne

BALIP.T. DAVIS LANGDON & SEAH INDONESIAJalan Sunset Road No. 8CLingkungan Abian BaseBali 80361IndonesiaTel : (62 361) 894 7517Fax : (62 361) 894 7392Email : [email protected] : Ir. Putu Arya Canti

MALAYSIASELANGORDAVIS LANGDON & SEAH (MALAYSIA) SDN BHDJURU UKUR BAHAN MALAYSIAJUBM SDN BHDDLS PROJEKS SDN BHD2, Jalan PJU 5/15Kota Damansara47810 Petaling JayaSelangor Darul EhsanMalaysiaTel : (60 3) 6156 9000Fax : (60 3) 6157 8660Email : [email protected] : Loo Ming Chee / Mohd Ali Abd Karim / Justin Teoh / Mohd Faiz Awang / Nur Aziz Abu Bakar


SINGAPOREDAVIS LANGDON & SEAH SINGAPORE PTE LTDDAVIS LANGDON & SEAH PROJECT MANAGEMENT PTE LTDDLS CONTRACT ADVISORY & DISPUTE MANAGEMENT SERVICES1 Magazine Road#05-01 Central MallSingapore 059567Tel : (65) 6222 3888Fax : (65) 6224 7089Email : [email protected] : Jim Pollock / Goh Chok Sin / Eugene Seah

SOUTH KOREASEOULDAVIS LANGDON & SEAH KOREA CO LTD#429 G-Five Central Plaza1685-8 Seocho 4-DongSeocho-GuSeoul 137-882KoreaTel : (82 2) 543 3888Fax : (82 2) 543 3898Email : [email protected] / [email protected] : Goh Chok Sin / Victor Stanger

THAILANDBANGKOKDAVIS LANGDON & SEAH (THAILAND) LTDLECE (THAILAND) CO LTD10th Floor, Kian Gwan Building II140/1 Wireless RoadLumpinee, PratumwanBangkok 10330, ThailandTel : (66 2) 253 1438, 651 4120-2Fax : (66 2) 253 4977Email : [email protected] : Leong Choong Peng / Ang Yen Kooi / Wong Soon Bin

SARAWAKJUBM SDN BHDNo. 2 (3rd Floor), Jalan Song Thian Cheok93100 KuchingSarawakMalaysiaTel : (60 82) 232 212Fax : (60 82) 232 198Email : [email protected] : Nor Azman Bin Baharum

PAKISTANKARACHIDAVIS LANGDON & SEAH PAKISTAN (PRIVATE) LIMITED18C, Nishat Commercial Lane 4Khayaban-e-Bukhari, Phase 6, DHAKarachi 75500PakistanTel : (92 21) 3524 0191-94Fax : (92 21) 3524 0195Email : [email protected] Contact : Nur Aziz Abu Bakar / Zaharudin Yusof

PHILIPPINESMANILADAVIS LANGDON & SEAH PHILIPPINES INC4th & 7th Floor, Kings Court 12129 Pasong TamoMakati City 1231PhilippinesTel : (63 2) 811 2971Fax : (63 2) 811 2071Email : [email protected] Contact : Alan Philip Hearn

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VIETNAMHANOIDAVIS LANGDON & SEAH VIETNAM CO LTD4th Level Thanh Dong Building132-138 Kim Ma StreetBa Dinh DistrictHanoiVietnamTel : (844) 3942 7525Fax : (844) 3942 7526Email : [email protected] : Mark Olive

HO CHI MINH CITYDAVIS LANGDON & SEAH VIETNAM CO LTD9th Level, Unit E-VTP Building08 Nguyen Hue, District 1Ho Chi Minh CityVietnamTel : (848) 3823 8297Fax : (848) 3823 8197Email : [email protected] : Mark Olive

SOUTH AFRICAJOHANNESBURG (PARKTOWN)DAVIS LANGDONDAVIS LANGDON SCHUMANN SMITHDAVIS LANGDON BUILDING SERVICESDAVIS LANGDON PROJECT MANAGEMENT2nd Floor, Citibank Plaza Building145 West StreetSandton 2196JohannesburgSouth AfricaTel : (27 11) 666 2000Fax : (27 11) 650 0711Email : [email protected] : Indresen Pillay

Also at : Bloemfontein, Cape Town, Durban, Gaborone (Botswana), George, Klerksdorp, Maputo (Mozambique), Nelspruit, Nigeria, Pietermaritzburg, Port Elizabeth, Pretoria and Stellenbosch

EGYPTCAIRODAVIS LANGDON EGYPT LLCGround Floor, Corner Road23 El Sharifa Dina StreetBuilding 13, MaadiHelwanEgyptTel : (20 2) 2750 8145 Fax : (20 2) 2750 8146Email : [email protected] : Kevin Sims / Chris du Toit

AFRICA

(Davis Langdon & Seah collaborates with Davis Langdon in Europe, Middle East, Africa, USA, Australia and New Zealand)


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AUSTRALASIA

AUSTRALIAMELBOURNEDAVIS LANGDONLevel 4580 Collins StreetMelbourne Victoria 3000AustraliaTel : (61 3) 9933 8800Fax : (61 3) 9933 8801Email : [email protected] : Bob Hunt

Also at : Adelaide, Brisbane, Cairns, Canberra, Darwin, Hobart, Perth, Sydney and Townsville

NEW ZEALANDAUCKLANDDAVIS LANGDON NEW ZEALAND LTDLevel 10Citigroup Centre23 Customs Street EastP.O. Box 935Auckland 1140New ZealandTel : (64 9) 379 9903Fax : (64 9) 309 9814Email : [email protected] : Chris Sutherland

Also at : Christchurch and Wellington

EUROPE

GERMANYMUNICHDEGW (PART OF DAVIS LANGDON)Heimeranstrasse 3780339 MunichGermanyTel : (49 89) 452 3383-0Fax : (49 89) 452 3383-99Email : [email protected] : Axel Praus

IRELANDDUBLINDAVIS LANGDON24 Lower Hatch StreetDublin 2IrelandTel : (353 1) 676 3671Fax : (353 1) 676 3672Email : [email protected] : www.dlpks.ieContact : Norman Craig

Also at : Cork, Galway and Limerick

ITALYMILANDEGW (PART OF DAVIS LANGDON)Via Lombardini, 2220143 MilanoItaliaTel : (39 02) 5410 1343Fax : (39 02) 5990 2213Email : [email protected] : Franco Guidi


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NETHERLANDSAMSTERDAMDEGW (PART OF DAVIS LANGDON)Herengracht 124 - 1281015 BT AmsterdamNetherlandsTel : (31 6) 5364 8131Email : [email protected] : Salla Lardot

UNITED KINGDOMLONDONDAVIS LANGDONDAVIS LANGDON BANKING TAX & FINANCEDAVIS LANGDON ENGINEERING SERVICESDAVIS LANGDON SCHUMANN SMITH SPECIFICATION

CONSULTINGDEGW (PART OF DAVIS LANGDON)MidCity Place71 High HolbornLondon WC1V6QSUnited KingdomTel : (44 20) 7061 7000Fax : (44 20) 7061 7061Email : [email protected] : www.davislangdon.comContact : Jeremy Horner

Also at : Birmingham, Bristol, Cambridge, Cardiff, Edinburgh, Glasgow, Heathrow, Leeds, Liverpool, Maidstone, Manchester, Norwich, Oxford, Peterborough, Plymouth and Southampton

EUROPE (Cont'd)

SPAINMADRIDDAVIS LANGDONCalle Serrano98-2nd Floor28006 MadridSpainTel : (34 91) 431 0290Fax : (34 91) 576 9221Email : [email protected] : Jon Blasby

MIDDLE EAST

BAHRAINMANAMADAVIS LANGDONAl Saffar HouseUnit 22B, Building No. 1042Block 436, Road 3621Seef DistrictP.O. Box 640Manama, Kingdom of BahrainTel : (973 17) 588 796Fax : (973 17) 581 288Email : [email protected] : Donn O'Shaughnessy

LEBANONBEIRUTDAVIS LANGDON LEBANON1st Floor, Chatilla BuildingAustralia StreetRawche, ShouranP.O. Box 13-5422 - ShouranBeirut, LebanonTel : (961 1) 780 111Fax : (961 1) 809 045Email : [email protected] : Muhyiddin Itani


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MIDDLE EAST (Cont'd)

QATARDOHADAVIS LANGDONSalwa Commercial Complex Building1st Floor, Behind Al Seal BuildingSalwa RoadP.O. Box 3206DohaState of QatarTel : (974) 4458 0150Fax : (974) 4469 7905Email : [email protected] : Steven Humphrey

UNITED ARAB EMIRATES (UAE)ABU DHABIDAVIS LANGDONAl Jazira Sports and Cultural ClubMurooj Road, 4th StreetP.O. Box 43266Abu DhabiUnited Arab EmiratesTel : (971 2) 414 6000Fax : (971 2) 414 6001Email : [email protected] : Steven Coates

NORTH AMERICA

UNITED STATES OF AMERICALOS ANGELESDAVIS LANGDON 301 Arizona AvenueSuite 301Santa MonicaCA 90401, USATel : (1 310) 393 9411Fax : (1 310) 393 7493Email : [email protected] : Nicholas Butcher

Also at : Boston, Denver, Honolulu, Houston, New York, Philadelphia, Sacramento, San Francisco, Seattle and Washington DC


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TELEPHONE DIRECTORY

Refer to http://tel.directory.gov.hk for further information.

HONG KONG GOVERNMENT

Architectural Services Department Headquarters Administration Division 2867 3628 Architectural Branch Advisory & Statutory Compliance Division 2867 3759 Architectural Drawing Records Unit 2867 3691 Division 1 2867 3935 Division 2 2867 3814 Site Staff (New Works) 2867 3992 Technical Officer (Architectural) Grade Management Unit 2867 3691 Building Services Branch Division 1 2867 3538 Division 2 2867 3493 Division 3 2867 3629 Division 4 2867 4156 Property Services Branch 2773 2217 Quantity Surveying Branch 2867 3298/2867 4597 Structural Engineering Branch 2867 3791Buildings Department 2626 1616Census and Statistics Department 2582 4807Civil Engineering and Development Department 2762 5111Customs and Excise Department 2815 7711Drainage Services Department 2877 0660Electrical and Mechanical Services Department 1823Environmental Protection Department 2594 6308Fire Services Department 2311 0066Government Laboratory 2762 3700Government Property Agency 2594 7604Highways Department 2926 4111Housing Department 2712 2712Labour Department 2717 1771Lands Department 2231 3294Planning Department 2231 5000Rating and Valuation Department 2152 0111Water Supplies Department 2824 5000

38/F Two Landmark East100 How Ming Street, Kwun Tong, Kowloon, Hong Kong

Tel: (852) 2830 3500 Fax: (852) 2576 0416Email: [email protected] Website: www.dlsqs.com

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