Cost Handbook 2nd Quarter 2011
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Transcript of Cost Handbook 2nd Quarter 2011
HONG KONG
Second Quarter 2011
QUARTERLYCONSTRUCTION COST REVIEW
Davis Langdon & Seah’s Reputation
Recognised as one of the world’s leading multidisciplinary construction and property consultancies, we focus on clients’ needs when investing in property and construction.
Content
1. Review of the “Revitalizing Industrial Buildings” Policy
2. Approximate Building Costs in Hong Kong
3. General Trend of Building Works Tender Prices in Hong Kong
4. Labour Index & Average Daily Wage of Workers Engaged in Public Sector Construction Projects
5. Materials Indices & Average Material Prices
6. Usable Floor Areas Completed / With Consent to Commence
7. Gross Value of Construction Work Performed
8. Approximate Building Costs for Major Cities in Asia
Statistical data are compiled from sources deemed reliable but accuracy is not guaranteed. All rights reserved. Reproduction of this data, in whole or in part, is permitted providing the source is quoted.
QUARTERLY CONSTRUCTION COST REVIEWSECOND QUARTER 2011 1
1 Review of the “Revitalizing Industrial Buildings” Policy
By April 2011, twelve months after the “Revitalizing Industrial Buildings” policy came into effect, Lands Department had received 56 applications – 45 for wholesale conversion and 11 for re-development. With an estimated 1,000 buildings eligible under the scheme, these numbers are far from encouraging.
Application Status WholesaleConvention
Re-Development
Being processed 27 4
Approved10
(7 out of 10 have been executed
7
Rejected / Withdrawn 8 -
ApplicationsReceived :
45 1156
Buildings Eligible : 1,000+(Total industrial buildings in Hong Kong : ~1,400)
ccording to feedback received so far, the reasons for such a lukewarm response are various but the majority relate to the
practical difficulties encountered in designing a viable commercial building whilst still complying with the policy requirements.
The intent of the policy is to facilitate the upgrading of existing industrial buildings by means of wholesale conversion. Many of these are either under-utilized or simply lying empty as a result of Hong Kong’s transition from an industrial to a services economy. To encourage this, the policy waives the conversion premium for buildings of at least 15 years old. If conversion is not viable, re-development is also an option as the policy allows buildings of 30 years old or more to apply for a compulsory sale order with a threshold as low as 80% of its building ownership. In this case, the owner can pay the land premium by installments under given conditions. It is obvious that the policy makers have made an effort to cater for the problem of split ownership and multi-tenancy in industrial buildings – a situation unique to Hong Kong.
Wholesale conversion is the main intention of the policy. Exemption of the normal conversion premium is intended to encourage building owners to convert their buildings from industrial to commercial, and in so doing attract higher returns. However, experience has shown that successfully converting an industrial building into a good quality office building under the present planning and technical constraints is more difficult than anticipated. This casts uncertainty over the return on investment involved and has made owners hesitant to apply.
Planning Constraints
Under the Policy, owners of eligible buildings need to work around the following conditions:
• Thebuildingbulk,heightandstructuremustremain unchanged, with no increase inGFA.
• The converted building must comply withall currently prevailing and applicableregulations,codesandpracticenotes.
Commonly Proposed Conversion Constraint
Enhance the building features:• setback at street level• create atrium• create indent at building facade• connect to footbridge nearby
Alteration to structure not
allowedRemove/modify existing structure to:
• achieve natural lighting and ventilation code
• increase headroom for new loading bays under code
• form new exit staircase, corridor, sprinkler pump rooms to meet code
Give up GFA at a location then add back elsewhere within building envelop:
• for new car parking space under current code
• for pipe ducts & plant rooms of upgraded E&M installations
Add back areas must be within building envelop and
subject to prevailing
Regulations
Replace existing windows with curtain wall that will project from the existing structural face
Increases in GFA and
building bulk not allowed
Add lift machine room and A/C fan room at roof top
Increase in building height
not allowed
QUARTERLY CONSTRUCTION COST REVIEWSECOND QUARTER 2011 2
1 Review of the “Revitalizing Industrial Buildings” Policy
Technical Problems
Conversion of an industrial building into an office building is more challenging than it might first appear. The exterior appearance, space requirements, traffic flow and facilities within the building are all different from one building to the next. All these issues need to be resolved within the existing carcase which cannot be changed. To add to the problem, the full extent of the works required would only become clear when construction has started and the existing works are opened up. For a typical industrial building owner, this is likely not a process with which they will have had much experience.
Proposed Works Related problems
• Works to facade, lift lobby, corridor
& lavatory, with incumbent tenants
Nuisance to existing tenants.Phasing work & night works may be required
Prolonged construction period
• Additional water tank for sprinkler system under code
• Additional plant for E&M enhancement
Local structural strengthening may be required to support the tank & equipment
Construction of additional plant room
• Structural repair Thorough inspection is required to identify structural defects. Additional structural work may be required to comply with latest fire protection regulations.
• Upgrading of E&M systems
• Upgrading of lift system
Temporary diversion and addition-al duct space may be required.
Additional lift shafts may be required.
Baseline Scheme for Wholesale ConversionMany building owners have queried what is the minimum cost to carry out a usage conversion? On the assumption that the industrial building has been properly maintained and upgraded from time to time, the works required for a usage conversion could potentially be limited to just tenancy re-partitioning, replacement/modification of architectural finishes and upgrading of E&M installations.
Most existing industrial buildings are only 10-20 storeys, single block, with a medium size floor plate, with only one or two sides of the facade exposed to view. The seven executed approvals pictured below are fairly typical. Upgrading the external appearance could be relatively simple.
In such cases, the cost for converting to a new use could be kept to a minimum, as indicated below.
Industrial to Office (Grade B) – Baseline Scheme
Building Elements HK$ per m2CFA(*) Remark
Demolition & removal works $300
Remove existing finishes, partitions and E&M distribution
Structural repair – Assume not required
Facade $200 Repaint / re-tile
Architectural works $1,000 New partitions, doors & finishes
E&M upgrading and modification $1,500
Wiring & ducting and minor works to plant & mains to suit new tenancy layout
Lifts upgrading $500 Change cargo lifts to passenger lifts
Total Estimated Cost: $3,500 Moderate phasing
works allowed
(*)FordefinitionofCFA,pleaserefertoSection2
QUARTERLY CONSTRUCTION COST REVIEWSECOND QUARTER 2011 3
1 Review of the “Revitalizing Industrial Buildings” Policy
Wholesale conversion can, when properly planned, be carried out without the need to temporarily decant tenants – thus reducing the loss of income during construction. Scheduled overhaul works may also be combined with the conversion works to minimize the nuisance caused to the occupants.
For aged buildings that are not properly maintained, the cost of conversion may be close to that of redevelopment. It is therefore prudent to carry out feasibility studies on “to convert” or “to re-develop” options before decisions are made.
Sustainability MeasuresSince the Government has put sustainability firmly on its agenda, the policy contains various incentives in respect of green features.
For example, if a building under the wholesale conversion scheme could achieve certain levels of sustainability design under BEAM Plus, the authorities would be prepared to accept alternatives to overcome technical difficulties in complying with code. Such as:
• Forinsufficientnaturalventilationandlighting,artificialprovisionsarepermitted.
• ForA/Cplatformsmountedtoexternalwalls,exemptions would be considered regardingitssizeorprojectionoverthestreet.
• For curtain wall facade, projecting overstreetswouldbepermitted.
Buildings willing to become “green” may findthesea“win-win”solution.
Hurdle or Opportunity?Conversion premiums to be waived under the policy were once charged at about HK$4,000-10,000/m2 internal floor area, depending on the location of the buildings, lease conditions and land use. Provided that the conversion cost is less than the conversion premium waived, many
building owners should find the policy beneficial.
One other issue has been that some of the policy conditions have been open to interpretation. However, over the last year, many of the grey areas within the policy guidelines have been clarified. For example:
• Authorities have clarified that curtain wallsareentitledtoGFAconcessionandwillnotbe considered as an increase inGFA andbuildingbulkunderwholesaleconversion
• Additionalplant roomsat roof levelwillnotbecountedasanincreaseinbuildingheight,butwillbecountedwhenconsideringheightrestriction;etc.
As to car parking provisions, the transport-related authorities have expressed that they will take into account the site constraints of the building in their applications and will exercise discretion in granting conversion approvals. Actually, out of the 10 approved conversion applications, none could meet current space standards and only two could provide loading / unloading spaces.
Standard Space Provisions
Building Use Loading / Unloading Parking
Headroom(min.) 3.6m-4.7m 2.4m
Industrial One per 700-3,000m2 One per 600-1200m2
Office One per 2,000-3,000m2 One per 150-300m2
Retail One per 800-1,200m2 One per 150-300m2
Source:PlanningDepartment,HKSARAllareasareintermsofGrossFloorArea(GFA)
Although we are already one year into the 3-year revitalization scheme, the time left may still be sufficient if all can make use of the experience gained and start now. While the government is preparing for a mid-term review later this year, stakeholders can take this opportunity to provide feedback to government. Revitalization of the existing industrial building stock is an important step towards a better and more sustainable building environment for Hong Kong.
QUARTERLY CONSTRUCTION COST REVIEWSECOND QUARTER 2011 4
2 Approximate Building Costs in Hong Kong
Building Type HK$/m2 CFA Outline Specification
DOMESTIC 1. Public rental housing based on Hong Kong Housing Authority Non-standard Cruciform Block design
2. Private housing estates with 2 or more towers, 30-50 storeys high, with average unit size not greater than 100m2. Single glazed windows. Tiled or plastered finishes - in general. Average quality built-in furniture and fittings.
3. Private luxury apartments with unit average size greater than 100m2. Provisions generally of high quality. Premium grade stone finishes/fittings.
4. Private housing, apartments and houses equipped with air-conditioning, kitchen cabinets and home appliances, but excluding decorations and loose furniture.
Public rental housing estates, high rise 6,970 - 8,010
Private housing estates, high rise 15,950 - 17,500
Private luxury apartments, high rise 18,500 up
Terraced houses 20,600 - 22,600
Detached houses 28,800 up
OFFICE / SHOPPING CENTRE 1. Offices based on buildings 20 - 30 storeys high with floor plans minimum 1,000m2 per level.
2. Shopping centres and average standard offices exclude finishes, A/C ducting & light fittings to tenant areas.
3. Prestige offices are fitted with raised floor, suspended ceiling, A/C ducting and light fittings to tenant areas.
Average standard offices, high rise 15,950 – 18,000
Prestige offices, high rise 20,600 up
Average standard shopping centres 16,000 - 19,500
Prestige shopping centres 20,600 up
INDUSTRIAL 1. Flatted factories and industrial-office buildings exclude manufacturing equipment, special services provisions, air-conditioning and electrical distribution system to tenant areas.
Light duty flatted factories, high rise, 7.5kpa (150 lb.) loading
8,400 - 9,350
Heavy duty flatted factories & warehouses, high rise, 15kpa (300lb.) loading
9,050 - 10,400
Industrial - Office buildings 11,100 - 13,800
HOTEL 1. F.F.&E. includes interior decoration and loose furniture etc. but excludes pre-opening expenses and hotel operation system & equipment costs (e.g. cutlery, crockery, linen, uniform, etc.).
2. Buildings include 1 level of basement.
3-Star hotels, inclusive of F.F.&E 19,300 - 21,500
5-Star hotels, inclusive of F.F.&E 25,900 up
OTHERS 1. Carparks to be multi-storey, open sided.
2. Primary and secondary schools are allowed with standard government provisions.
3. Schools include external works but exclude F.F.&E.
Carparks, above ground 7,200 - 8,200
Primary and secondary schools 10,800 - 11,800
International schools 13,500 - 15,100
Notes: 1. The costs for the respective categories given above are averages based on fixed price competitive tenders. It must be understood that the actual cost of a building will depend upon the design and many other factors and may vary from the figures shown.
2. The costs per square metre are based on Construction Floor Areas (CFA) measured to the outside face of the external walls / external perimeter including lift shafts, stairwells, balconies, plant rooms, water tanks and the like.
3. All buildings are assumed to have no basements (except otherwise stated) and are built on flat ground, with normal soil and site condition. The cost excludes site formation works, external works, land cost, professional fees, finance and legal expenses.
QUARTERLY CONSTRUCTION COST REVIEWSECOND QUARTER 2011 5
3 General Trend of Building Works Tender Prices in Hong Kong (including labour, materials, plant, overheads & profit)
Source: Competitive tenders received by Davis Langdon & Seah Hong Kong and the ASD Building Works Tender Price Index (BWTPI).
Notes:
Year2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Quarter IndexASD TPI (Base = 100, at Year 1970)
1st Quarter 862 687 720 685 711 714 821 1,118 1,074 1,134 1,273
2nd Quarter 842 742 723 712 716 730 859 1,305 983 1,161
3rd Quarter 807 692 722 704 718 751 906 1,401 1,111 1,249
4th Quarter 721 733 681 701 697 789 998 1,262 1,107 1,266
DLS TPI (Base = 100, at Year 1970)1st Quarter 990 915 855 940 945 970 1,020 1,239 1,245 1,297 1,385
2nd Quarter 960 890 878 952 955 980 1,074 1,360 1,242 1,315 1,425
3rd Quarter 945 875 895 933 963 985 1,175 1,355 1,253 1,342
4th Quarter 935 840 895 930 970 990 1,150 1,281 1,273 1,367
0
200
400
600
800
1,000
1,200
1,400
1,600
'70 '74 '78 '82 '86 '90 '94 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12Year
Index
ASD BWTPI DLS TPIASD BWTPI (as at the 4th Quarter) DLS TPI (as at the 4th Quarter)
1. The index measures the trend of general builder’s works only. Special works and Mechanical and Electrical Services would have to be considered separately.
2. All indices were published quarterly. For reference purpose, only indices from 1st quarter of 1998 and onwards are given in detail on the above graph, whereas indices for the years 1970 - 1997 are shown with their 4th Quarter figures.
QUARTERLY CONSTRUCTION COST REVIEWSECOND QUARTER 2011 6
4 Labour Index & Average Daily Wage of Workers Engaged in Public Sector Construction Projects
Year 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Quarter Index (Base = 100, at June 1995) Figures below are quarterly average of the monthly indices
1st Quarter 150 147 143 137 131 137 129 129 131 133
2nd Quarter 150 146 140 136 133 135 128 128 131
3rd Quarter 149 146 140 133 134 131 128 129 131
4th Quarter 148 143 138 132 136 130 129 130 132
Selected TradeAverage Daily Wage (HK$)
Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11General Workers 598 599 602 605 605 604
Concretor 935 926 929 923 923 935
Bar Bender and Fixer 1,161 1,167 1,175 1,188 1,190 1,198
Carpenter (formwork) 994 997 1,007 1,012 1,017 1,021
Plumber 889 886 882 872 860 863
Plasterer 888 891 890 884 888 893
Painter and Decorator 830 813 792 786 766 778
Electrical Fitter (incl. Electrician) 686 697 694 702 712 712
Bricklayer 865 861 865 843 853 876
Drainlayer 872 876 887 897 904 905
Metal Worker 826 829 841 831 838 799
Joiner 914 916 909 886 874 874
Construction Plant Mechanic 792 797 793 789 788 795
Glazier 956 908 894 706 931 963
Bamboo Scaffolder 1,090 1,072 1,094 1,090 1,113 1,111
Structural Steel Erector 1,028 1,017 1,029 1,026 969 968
Asphalter (road construction) 706 705 695 691 690 705
Mechanical Fitter 614 623 609 609 619 610
Source : Census & Statistics Department
Note :
80
100
120
140
160
'96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12Year
Index
The labour indices cover public sector construction projects only and reflect the change in wage cost borne by main contractors of public sector construction projects. Owing to the special arrangements widely adopted in the construction industry, the wage cost data probably also includes elements like service charges and administration overheads borne to ensure that tasks are handled by the workers/companies with the appropriate skills. Hence, the labour indices may not reflect the wage received by workers in the construction industry.
QUARTERLY CONSTRUCTION COST REVIEWSECOND QUARTER 2011 7
5 Material Indices & Average Material Prices
Selected Material UnitAverage Material Price (HK$)
Nov 10 Dec 10 Jan 11 Feb 11 Mar 11 Apr 11Mild Steel Round Bars (6mm-20mm) t 6,195 6,408 6,868 7,010 6,956 6,888
High Tensile Steel Bars (10mm-40mm) t 5,906 6,003 6,277 6,392 6,533 6,475
Portland Cement t 621 621 640 642 639 656
Hardwood m3 3,763 3,992 4,107 4,362 4,595 5,066
Plywood (19mm thick) m2 66 66 66 68 70 70
Concrete Blocks (100mm thick) m2 61 62 65 65 65 65
Aggregates (All grades) t 53 50 54 54 53 54
Sand t 72 72 72 72 72 72
Galvanised Mild Steel Angles t 11,471 12,099 12,109 12,309 12,329 12,609
Homogeneous non-slip floor tiles (200 x 200mm) m2 146 146 146 148 148 148
UPVC Pipes (32mmØ x 4m long) No. 47 47 47 47 47 47
Clear Sheet Glass (5mm) m2 134 136 137 138 138 138
Emulsion Paint litre 39 39 39 41 41 43
Source : Census & Statistics Department
0
100
200
300
400
'96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12
Year
Index
Portland cement (ordinary) Sand
Steel reinforcement Timber formw ork
GMS pipes
QUARTERLY CONSTRUCTION COST REVIEWSECOND QUARTER 2011 8
6 Usable Floor Areas Completed / With Consent to Commence
Period2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Quarter Usable Floor AreaTotal usable floor area completed (‘000m2)
1st Quarter (Q1) 318 253 324 292 232 225 183 215 496 343
2nd Quarter (Q2) 378 425 451# 388 322 271 162 149 141
3rd Quarter (Q3) 678 454 590 259 333 126 370 250 299
4th Quarter (Q4) 586 455 356 288 502 407 382 201 204
Total usable floor area with consent to commence (‘000m2)
Q1 First submissionMajor revision 229 291
19443169
19588
52168
130129
275124
14892
24348
102196
Q2 First submissionMajor revision 418 142
20118781
255141
120129
355107
25878
19821
23238
Q3 First submissionMajor revision 368 376
7213658
16586
317173
301218
1443
26343
288 183
Q4 First submissionMajor revision 356 338
6910053
290257
249191
20594
7838
25358
109 58
Source : Census and Statistics Department and Buildings Department
1. 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". The 2 sub-divisions are added together to compare with past data.
2. Figures marked with " # " includes units of the Hunghom Peninsula, which were converted from Private Sector Participation Scheme to private buildings (Total 81,900m2), as per Hong Kong Monthly Digest of Statistics, June 2004 Edition.
0
200
400
600
800
1,000
1,200
'96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12Year
'000m2
Area completed Area w ith consent to commenceArea w ith consent to commence - First submission Area w ith consent to commence - Major revision
QUARTERLY CONSTRUCTION COST REVIEWSECOND QUARTER 2011 9
7 Gross Value of Construction Work Performed
* Provisional Source : Census and Statistics Department
QuarterValue Performed (HK$ Million)
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011A. Private sector sites
1st Quarter 9,900 9,259 6,892 6,725 6,051 6,959 8,382 8,600 6,349 7,286*2nd Quarter 11,143 9,065 6,911 6,421 6,161 7,429 8,122 9,055 9,2763rd Quarter 10,769 8,766 6,840 6,524 6,016 6,582 7,688 8,408 7,3604th Quarter 10,480 8,097 7,377 6,685 6,627 8,004 9,303 7,543 7,222
Year Total : 42,292 35,187 28,020 26,355 24,855 28,974 33,495 33,606 30,307
B. Public sector sites1st Quarter 9,007 7,662 7,569 6,924 4,693 4,293 3,819 3,967 6,511 9,534*2nd Quarter 8,464 9,061 7,256 5,895 3,998 3,575 3,762 4,652 6,9373rd Quarter 7,191 8,090 6,890 4,951 3,918 3,105 3,653 4,428 8,6514th Quarter 7,408 7,564 6,818 4,565 4,526 3,530 4,105 5,605 9,117
Year Total : 32,070 32,377 28,533 22,335 17,135 14,503 15,339 18,652 31,216
C. Locations other than sites1st Quarter 7,981 7,854 8,607 9,579 11,229 10,995 11,883 11,750 11,926 12,970*2nd Quarter 7,809 7,555 8,744 10,027 12,305 11,979 13,213 12,415 12,1093rd Quarter 7,780 7,970 9,432 11,137 12,368 13,057 12,818 11,969 12,6204th Quarter 8,068 8,088 9,835 11,417 12,338 13,358 12,851 12,552 13,097
Year Total : 31,638 31,467 36,618 42,160 48,240 49,389 50,765 48,686 49,752
Annual gross value performed (A + B + C)Total : 106,000 99,031 93,171 90,850 90,230 92,866 99,599 100,944 111,275
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
40,000
'91 '92 '93 '94 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11Year
(HK$Million)
Private sector sites Public sector sites Location other than sites
QUARTERLY CONSTRUCTION COST REVIEWSECOND QUARTER 2011 10
8 Approximate Building Costs for Major Cities in Asia
Region Hong Kong Macau Shanghai Beijing Seoul Tokyo
Building Type USD/m2 CFA
DOMESTIC Average standard apartments,
high rise2,145 1,257 639 567 494 1,371 2,210
Luxury apartments, high rise 2,370 1,794 958 1,004 572 1,714 3,080
Terraced houses 2,770 N/A 799 534 421 1,714 N/A
Luxury houses 3,690 N/A 1,065 785 587 2,057 2,700
OFFICE / SHOPPING CENTRE Average standard offices,
high rise2,175 N/A 958 959 711 1,222 2,660
Prestige offices, high rise 2,640 N/A 1,278 1,283 989 1,393 3,180
Average standard shopping centres
2,275 1,530 1,012 1,102 757 1,559 2,170
Prestige shopping centres 2,640 2,413 1,328 1,295 1,095 2,160 2,280
INDUSTRIAL Light duty flatted factories,
high rise, 7.5kpa (150 lb.) loading
1,140 1,133 N/A N/A N/A N/A 1,540
Heavy duty flatted factories & warehouses, high rise, 15kpa (300lb.) loading
1,245 N/A N/A N/A N/A N/A 2,030
Single storey conventional factory with structural steel roof
N/A N/A 532 593 495 735 1,770
HOTEL Resort hotels, inclusive of
F.F.&EN/A N/A 1,328 N/A N/A 1,593 3,470
3-Star hotels, inclusive of F.F.&E
2,615 2,428 1,065 1,180 943 1,809 3,450
5-Star hotels, inclusive of F.F.&E
3,320 3,155 2,129 1,941 1,430 2,413 5,050
OTHERS Carparks, above ground 985 600 383 461 340 592 1,670
Exchange Rate Used: US$1 = HK$7.8 MOP7.99 RMB6.47 RMB6.47 RMB6.47 KRW1,083 JPY79.22
1. The costs for the respective categories given above are averages based on fixed price competitive tenders. It must be understood that the actual cost of a building will depend upon the design and many other factors and may vary from the figures shown.
2. The costs per square metre are based on Construction Floor Areas (CFA) measured to the outside face of the external walls / external perimeter including lift shafts, stairwells, balconies, plant rooms, water tanks and the like.
3. All buildings are assumed to have no basements (except otherwise stated) and are built on flat ground, with normal soil and site condition. The cost excludes site formation works, external works, land cost, professional fees, finance and legal expenses.
4. The standard for each category of building vary from country to country and do not necessarily follow those of Hong Kong.
5. Fluctuation in exchange rates may lead to changes in construction costs expressed in U.S. dollars.
Notes:
Guangzhou/ Shenzhen
QUARTERLY CONSTRUCTION COST REVIEWSECOND QUARTER 2011 11
8 Approximate Building Costs for Major Cities in Asia
RegionSingapore Kuala
Lumpur Bangkok Jakarta Brunei ManilaBuilding Type USD/m2 CFADOMESTIC Average standard
apartments, high rise1,695 484 815 595 875 830
Luxury apartments, high rise 2,785 1,122 1,142 800 1,080 1,045
Terraced houses 2,060 334 574 N/A 530 585
Luxury houses 2,420 1,008 951 475 755 1,145
OFFICE / SHOPPING CENTRE Average standard offices,
high rise2,100 789 738 575 875 815
Prestige offices, high rise 2,340 1,157 967 850 1,200 1,070
Average standard shopping centres
2,260 789 787 495 855 740
Prestige shopping centres 2,500 961 918 540 1,105 955
INDUSTRIAL Light duty flatted factories,
high rise, 7.5kpa (150 lb.) loading
1,130 461 590 N/A 490 422
Heavy duty flatted factories & warehouses, high rise, 15kpa (300lb.) loading
1,375 547 N/A N/A N/A 470
Single storey conventional factory with structural steel roof
970 455 590 260 445 405
HOTEL Resort hotels, inclusive of
F.F.&E2,500 1,399 2,229 1,200 1,440 1,270
3-Star hotels, inclusive of F.F.&E
2,585 1,612 1,344 980 1,575 1,220
5-Star hotels, inclusive of F.F.&E
3,470 2,349 1,901 1,390 2,180 1,580
OTHERS Carparks, above ground 770 300 344 260 500 435
Exchange Rate Used: US$1 = S$1.24 RM3.02 BHT30.51 IDR8,565 B$1.25 PHP43.25
1. The costs for the respective categories given above are averages based on fixed price competitive tenders. It must be understood that the actual cost of a building will depend upon the design and many other factors and may vary from the figures shown.
2. The costs per square metre are based on Construction Floor Areas (CFA) measured to the outside face of the external walls / external perimeter including lift shafts, stairwells, balconies, plant rooms, water tanks and the like.
3. All buildings are assumed to have no basements (except otherwise stated) and are built on flat ground, with normal soil and site condition. The cost excludes site formation works, external works, land cost, professional fees, finance and legal expenses.
4. The standard for each category of building vary from country to country and do not necessarily follow those of Hong Kong.
5. Fluctuation in exchange rates may lead to changes in construction costs expressed in U.S. dollars.
Notes:
Davis Langdon & Seah Offices in China
HONG KONG38/F, Two Landmark East 100 How Ming Street, Kwun Tong Kowloon, Hong Kong T: (852) 2830 3500 F: (852) 2576 0416E: [email protected]
BEIJINGSuite 1225 - 1238Junefield PlazaCentral Tower South10 Xuan Wu Men Wai StreetBeijing 100052, ChinaT: (86 10) 6310 1136F: (86 10) 6310 1143E: [email protected]
CHENGDU Room 807Block A Times Plaza2 Zong Fu RoadChengdu 610016 ChinaT: (86 28) 8671 8373F: (86 28) 8671 8535E: [email protected]
CHONGQINGRoom 3408International Trade Centre38 Qing Nian RoadCentral DistrictChongqing 400010, ChinaT: (86 23) 8655 1333F: (86 23) 8655 1616E: [email protected] DALIANUnit 07, 32F, Xiwang Tower No. 136 Zhongshan Road, Zhongshan District, Dalian, Liaoning Province, 116001, ChinaT: (86 411) 8800 8018F: (86 411) 8800 8823 E: [email protected]
FOSHANUnit 1803 Room 218/F Hua Hui Mansion46 Zu Miao RoadFoshan 528000, ChinaT: (86 757) 8203 0028F: (86 757) 8203 0029E: [email protected]
GUANGZHOUUnit 2711 - 2713 & 2718Bank of America Plaza555 Ren Min Zhong RoadGuangzhou 510145, ChinaT: (86 20) 8130 3813F: (86 20) 8130 3812E: [email protected]
HANGZHOURoom 2305 WinNing InternationalNo.100 Min Xin Road Hangzhou Zhejiang Province 310016, ChinaT: (86 571) 2829 7766F: (86 571) 2829 7622E: [email protected]
MACAU14 Andar BEdifacio Commercial Rodrigues 599 Avenida da Praia Grande MacauT: (853) 2833 1710 / 2833 1705F: (853) 2833 1532 E: [email protected]
SANYA1206 Skyline Tower119 Yingbin Road Sanya Hainan 572000, ChinaT: (86 898) 3828 0878F: (86 898) 3828 0678
SHANGHAI Room 1582, Tower BCity Centre of Shanghai 100 Zun Yi RoadShanghai 200051ChinaT: (86 21) 6091 2800F: (86 21) 6091 2999E: [email protected]
SHENYANGRoom 8-9, 11/FE Tower of Fortune Plaza59 Bei Zhan Road, Shen He DistrictShenyang 110013, ChinaT: (86 24) 3128 6678 F: (86 24) 3128 6983E: [email protected]
SHENZHENRoom E & F, 42/F World Finance Centre, Block A4003 East Shen Nan RoadShenzhen 518001ChinaT: (86 755) 8269 0642F: (86 755) 8269 0641E: [email protected]
SUZHOURoom 1606 Century Financial Tower1 Suhua Road, Industrial ParkSuzhouJiangsu Province 215021, ChinaT: (86 512) 8777 5599 F: (86 512) 8777 5600E: [email protected]
TIANJIN4002, 40F, Tianjin World FinancialCentre Office TowerNo. 2 Dagubei RoadHeping DistrictTianjin 300020, ChinaT: (86 22) 2329 8611F: (86 22) 2319 3186E: [email protected]
WUHANRoom B, 5th Floor2-1 Building, Wuhan Tiandi68 Lu Gou Qiao RoadWuhan 430010, HubeiChinaT: (86 27) 5920 9299F: (86 27) 5920 9298E: [email protected]
○ DAVIS LANGDON & SEAH INTERNATIONAL OFFICES
○ CONTACT USDAVIS LANGDON & SEAH HONG KONG LTD.38/F, Two Landmark East, 100 How Ming Street, Kwun Tong, Kowloon, Hong KongT (852) 2830 3500 F (852) 2576 [email protected]
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