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SCMP Reporter

With infrastructure improving and the cost of urban residential accommodation soaring, Ma On Shan has reasonable prospects as an alternative place to live, according to Alfred Li Hung-kwan, executive director of Hang Lung Development.

 Hang Lung, which already has sold its Park Versailles project in Tai Po, is building 618 units in a six-tower, high-rise development in Ma On Shan which it expects to complete in two years. The project will cost about $2 billion.

 Mr Li said the construction of the Ma On Shan rail link connecting to the KCR railway line should help change people's perceptions of the area.

 'In the past it was not so popular an area,' said Mr Li.

 He said people were unwilling to move out of urban areas such as the Mid-Levels to places like Ma On Shan or Tai Po because of poor transport facilities.

 However, with property prices continuing to rise and a shortage of land in the urban areas, people were now having to look afield for affordable housing, Mr Li said.

 'The prices are considerably cheaper and the environment is better,' he said. 'So it is quite natural for people to move out to Sha Tin, Tai Po or Ma On Shan.'  Improved infrastructure, such as better roads and new rail connections, were another reason why people would consider moving to areas like Ma On Shan, he said.

 'Construction of Route Three is underway and the extension of the rail line to Ma On Shan should help in relieving congestion and make the area more acceptable,' he said.

 According to Mr Li, its 618 unit development overlooking Tolo Harbour should be completed in 1999.

 According to the company, site formation work will be completed on time by December despite many 'geological problems' associated with the site.

 Excavation of a two-level basement car park would begin by the beginning of next year, they said.

 This will be followed by construction of a two-level podium which also will be used for parking.

 The development will include 527 car-parking spaces.

 Construction of the flats will begin in the third quarter of next year.

 According to Hang Lung officials, no decision has been made as to when to bring the property to market.

 The development will feature a clubhouse with swimming pool, gym, function rooms, golf putting green, billiards room and a lounge as well as a children's playground.

 Six towers will sit on two levels of podium, with flats measuring 660 square feet to 1,370 sq ft.

 The project has a site area of 117,330 sq ft, providing a total floor area of about 587,000 sq ft.

 The site was bought by Hang Lung at a Government auction in March 1995 for $1.24 billion. The group said the construction would cost about $800 million.

 Other developers building residential projects in Ma On Shan include Cheung Kong (Holdings) and Pacific Concord Holding which are jointly developing Vista Paradiso.

 Sino Land Co and Chinachem Group also are building separate projects in the area.

 Completed projects include Henderson Land Development's Sunshine City, Sun Hung Kai Properties' Villa Athena and Cheung Kong's Bayshore Towers.



Travel links hold key to Ma On Shan development