DLS Contract

The following handbook of information relating to the construction industry has been compiled by: 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.
Davis Langdon & Seah Hong Kong Limited 38/F Two Landmark East 100 How Ming Street Kwun Tong, Kowloon Hong Kong Telephone : (852) 2830 3500 Fax : (852) 2576 0416 Email : dlshk@dlshk.com Website : 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.
Install an appropriate file management application (e.g. USB Disk etc) from the App Store or Android Market Using your phones 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 can then go to USB Disk to read the downloaded 2012 Construction Cost Handbook, even when your Smart Phone is in Airplane mode
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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.
Published by Davis Langdon & Seah Hong Kong Limited Printed : January 2012 by R&R Publishing Limited
ISO 9001 : 2008 Certificate No. : CC271
TABLE OF CONTENTS
Table of Contents About Us Quality Management System Calendars
1 3 4 5
3. PROPERTY
Property Commentary Property Indicators Gross Floor Area (GFA) Calculations in Hong Kong Gross Floor Area (GFA) Calculations in PRC Construction Floor Area (CFA) Definition 75 79 81 83 85
1. CONSTRUCTION COST DATA

Construction 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 9 11 13 15 17 19 21 27 33 39
4. FINANCIAL
Financial Definitions Financial Formulae Mortgage Repayment Table Composite CPI Exchange Rates Currency Charts Prime Rates Hang Seng Index 87 88 89 90 91 93 95 97
2. GENERAL CONSTRUCTION DATA

2012 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 1 43 47 50 51 54 55 59 60 61 65 67 69 70
5. OTHER INFORMATION
Utility 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 99 103 105 107 117 119 121 123 126 129 149
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.
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 quantity 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.
CALENDARS
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
2011
2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23/30 24/31 25 26 27 28 29
6 13 20 27
7 8 9 10 11 12 6 7 8 9 10 11 12 14 15 16 17 18 19 13 14 15 16 17 18 19 21 22 23 24 25 26 20 21 22 23 24 25 26 28 27 28 29 30 31
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
2013
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 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 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 4/31 2 25 26 27 28 29 30 28 29 30 31 25 26 27 28 29 30
2011 2013
7 8 9 10 11 12 13 5 6 7 8 9 10 11 14 15 16 17 18 19 20 12 13 14 15 16 17 18 21 22 23 24 25 26 27 19 20 21 22 23 24 25 28 29 30 26 27 28 29 30 31 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 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
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 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 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

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 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
JANUARY FEBRUARY MARCH S M T W T F S S M T W T F S S M T W T F S
2012
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
APRIL MAY JUNE S M T W T F S S M T W T F S S M T W T F S
JANUARY FEBRUARY MARCH S M T W T F S S M T W T F S S M T W T F S
2014
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
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 1 2 3 1 2 3 4 5 6 7
1 2 3 4 5 6 7 1 2 3 4 5 1 2 8 9 10 11 12 13 14 6 7 8 9 10 11 12 3 4 5 6 7 8 9 15 16 17 18 19 20 21 13 14 15 16 17 18 19 10 11 12 13 14 15 16 22 23 24 25 26 27 28 20 21 22 23 24 25 26 17 18 19 20 21 22 23 29 30 27 28 29 30 31 24 25 26 27 28 29 30
JULY AUGUST SEPTEMBER S M T W T F S S M T W T F S S M T W T F S
1 2 3 4 5 6 7 1 2 3 4 1 8 9 10 11 12 13 14 5 6 7 8 9 10 11 2 3 4 5 6 7 8 15 16 17 18 19 20 21 12 13 14 15 16 17 18 9 10 11 12 13 14 15 22 23 24 25 26 27 28 19 20 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
2012 2014
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
JULY AUGUST SEPTEMBER S M T W T F S S M T W T F S S M T W T F S 1 2 3 4 5 1 2 1 2 3 4 5 6
6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31
3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24/31 25 26 27 28 29 30
7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30
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
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

CONSTRUCTION COST DATA

Construction 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

HK$/m 2 BUILDING TYPE BUILDING SERVICES TOTAL DOMESTIC
Public rental housing, high rise Private housing estates, high rise Private luxury apartments, high rise Terraced houses Individual prestige houses
OFFICE/COMMERCIAL
CONSTRUCTION COSTS FOR HONG KONG
6,055 - 6,810 14,035 - 14,780 15,805 - up 19,065 - 20,490 27,485 up 12,340 - 13,350 16,470 up 11,840 - 14,770 16,420 up 4,150 - 4,850 - 4,700 - 4,900 - 5,280 6,130 5,430 6,130
1,045 - 2,455 - 3,325 - 2,255 - 2,455 -
1,350 3,320 4,220 2,860 3,610
7,100 - 8,160 16,490 - 18,100 19,130 up 21,320 - 23,350 29,940 up 16,490 - 18,630 21,320 up 16,540 - 20,200 21,320 up
Average standard offices, high rise Prestige offices, high rise Average standard shopping centres Prestige shopping centres
HOTELS
3-star budget hotels, inclusive of F.F. & E. 5-start luxury hotels, inclusive of F.F. & E.
INDUSTRIAL
15,070 - 16,630 21,470 up
4,930 - 5,700 5,330 - 6,550
20,000 - 22,330 26,800 up
Light duty flatted factories, 7.5 kpa (150 lb.) loading Heavy duty flatted factories and warehouses, 15 kpa (300 lb.) loading
OTHERS
6,980 - 7,410 7,640 - 8,590
1,750 - 2,330 2,000 - 2,580
8,730 - 9,740 9,640 - 11,170
Carparks, above ground Primary and secondary schools International schools Student hostels Sports clubs inclusive of F.F. & E.
The above costs are at 4th Quarter 2011 levels.
6,210 - 6,480 9,120 - 9,330 10,960 - 11,680 8,790 - 10,060 15,270 - 16,970
1,300 - 2,050 - 3,000 - 3,150 - 5,350 -
2,050 2,850 3,950 3,950 6,900
7,510 - 8,530 11,170 - 12,180 13,960 - 15,630 11,940 - 14,010 20,620 - 23,870
10
11
M&E COSTS FOR HONG KONG

HK$/m 2 BUILDING TYPE MECHANICAL ELECTRICAL SERVICES SERVICES TOTAL SERVICES FIRE LIFTS/ HYDRAULIC SERVICES ESCALATORS SERVICES DOMESTIC
M&E COSTS FOR HONG KONG
Public rental housing, high rise Private housing estates, high rise Private luxury apartments, high rise Terraced houses Individual prestige houses
OFFICE/COMMERCIAL
- - 650 - 850 1,100 - 1,300 850 - 1,100 850 - 1,400 1,600 - 1,950 1,900 - 2,350 1,950 - 2,150 1,950 - 2,400 1,300 - 1,650 1,600 - 1,950 1,400 - 1,600 1,600 - 1,950 430 - 550 430 - 550 430 - 550 430 - 550 550 - 750 650 - 900 650 - 750 650 - 850 270 - 270 - 270 - 270 - 380 380 380 380
450 - 550 850 - 1,050 1,050 - 1,300 850 - 1,050 1,050 - 1,500
75 - 120 75 - 120 75 - 120 55 - 110 55 - 110
200 - 250 330 - 550 450 - 650 - - - -
320 - 550 - 650 - 500 - 500 -
430 750 850 600 600
1,045 - 1,350 2,455 - 3,320 3,325 - 4,220 2,255 - 2,860 2,455 - 3,610 4,150 - 5,280 4,850 - 6,130 4,700 - 5,430 4,900 - 6,130
Average standard offices, high rise Prestige offices, high rise Average standard shopping centres Prestige shopping centres
HOTELS
3-star budget hotels, inclusive of F.F. & E. 5-start luxury hotels, inclusive of F.F. & E.
INDUSTRIAL
1,750 - 1,950 1,500 - 1,750 430 - 550 1,850 - 2,150 1,750 - 2,150 430 - 550 380 - 500 450 - 650 250 - 300 380 - 500 650 - 850 250 - 300 200 - 550 550 - 850 1,300 - 1,600 650 - 850 2,500 - 3,000 450 - 650 850 - 1,050 1,050 - 1,400 1,400 - 1,600 1,800 - 2,500 250 - 300 250 - 350 250 - 350 350 - 450 450 - 600
450 - 550 450 - 650 450 - 550 500 - 600 250 - 350 150 - 250 150 - 250 150 - 250 250 - 350
800 - 900 4,930 - 5,700 850 - 1,050 5,330 - 6,550
Light duty flatted factories, 7.5 kpa (150 lb.) loading Heavy duty flatted factories and warehouses, 15 kpa (300 lb.) loading
OTHERS
220 - 330 1,750 - 2,330 220 - 330 2,000 - 2,580 150 - 250 - 250 - 600 - 350 - 200 350 350 800 450 1,300 - 2,050 2,050 - 2,850 3,000 - 3,950 3,150 - 3,950 5,350 - 6,900
Carparks, above ground Primary and secondary schools International schools Student hostels Sports clubs inclusive of F.F. & E.
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ACMV COSTS FOR VARIOUS DESIGNS AND 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, airconditioning, 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.
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16
FIT-OUT COSTS FOR HONG KONG

BUILDING TYPE HOTELS HK$/m 2 BUILDING TYPE DEPARTMENT STORES HK$/m 2
Public Areas (Front of House) : 3-start Hotel 4-start Hotel 5-start Hotel Guest Rooms : 3-start Hotel 4-start Hotel 5-start Hotel
General department store 7,600 - 11,500 Prestige department store
6,000 - 9,300
10,000 up
12,000 - 16,000 17,000 up 6,000 - 7,400 7,500 - 10,000
Notes : 1. Includes electrical work, additional FCU and minor alteration of fire services to suit layout. 2. Excludes facade modification, data cabling, operational items and equipment (e.g. computers, P.O.S., office equipment) and opening expenses.
10,000 up
Notes : 1. Includes furniture, floor, wall and ceiling finishes, drapery, sanitary fittings and light fittings. 2. Excludes partitioning, M&E works, building shell, chandeliers, operational items and equipment (e.g. cutlery, crockery, linen, television, refrigerator etc.), opening expenses, stage equipment and computer systems.
OFFICES
RESTAURANTS
General dining restaurant Fine dining restaurant Notes : 1. Includes furniture, floor, wall and ceiling finishes, electrical work, minor alteration to air-conditioning and fire services installation to suit layout, exhaust for kitchen.
7,600 - 15,000
16,000 up
General office Executive office Prestige office
4,800 - 7,400 7,500 - 10,500
2. Excludes exhaust flue, operational items (e.g. cutlery, crockery, linen, utensils, etc.).
10,500 up
Notes : 1. Local/Taiwanese/PRC furniture allowed for general offices. 2. Includes furniture, partitioning, electrical work, minor alteration to air-conditioning, fire services and suspended ceiling to suit layout. 3. Excludes telephones, data cabling, office equipment (e.g. computers, photocopiers, fax machines, UPS, etc). 17 18
UNIT COSTS FOR ANCILLARY FACILITIES FOR HONG KONG

DESCRIPTION SQUASH COURTS UNIT HK$ DESCRIPTION SAUNAS UNIT HK$
Single court with glass backwall including associated mechanical and electrical services but excluding any public facilities (enclosing structure not included). per court
TENNIS COURTS
Sauna room for 4-6 people complete with all accessories (enclosing structure not included). per room 420,000
STEAM BATHS
130,000
Steam bath for 4-6 people complete with all accessories (enclosing structure not included). per room
Single court on grade with acrylic surfacing and complete with chain link fence. per court Single court on grade with artificial turf surfacing and complete with chain link fence. per court Extra for lighting. per court
130,000
870,000
GOLF COURSES
980,000 300,000
(Based on average cost of an 18-hole golf course) Excluding associated buildings and equipment. per hole 7,000,000 to 13,000,000
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 ozone system. per pool
GOLF SIMULATOR
5,500,000
PLAYGROUND EQUIPMENT
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
Outdoor playground equipment comprising various activities.
per set
250,000 to 650,000
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20
21
CONSTRUCTION COSTS FOR SELECTED ASIAN CITIES

US$/m2 BUILDING TYPE HONG KONG + SHANGHAI + BEIJING +
GUANGZHOU/ + + SHENZHEN + CHONGQING CHENGDU
DOMESTIC
Detached houses and bungalows Terraced houses Average standard apartments, high rise Luxury apartments, high rise
OFFICE/COMMERCIAL
3,838 2,863 2,217 2,453 2,251 2,733 2,545 1,370 1,096 2,193 N/A 1,116 1,919 N/A N/A 1,517 987 1,316 1,206 947 1,269 1,090 760 1,044 983 860 1,100 900 N/A 1,050 1,880 940 1,250 950 N/A 1,100 2,150
1,096 822 658 987
776 528 560 993
622 439 525 605
760 780 480 500 440 470 800 1,000
Average standard offices, high rise Prestige offices, high rise Shopping centres
HOTELS
Resort hotels N/A 3-star budget hotels, inclusive of F.F. & E. 2,713 5-star luxury hotels, inclusive of F.F. & E. 3,436
INDUSTRIAL
1,184 N/A 1,334 N/A 1,805 1,900 1,028 1,497 1,663 2,852 HK$7.8 N/A 548 735 830 398 598 343 1,051 RMB6.35
N/A N/A N/A N/A 586 765 780 456 632 335 970 RMB6.35 N/A 520 648 759 353 415 266 798 RMB6.35 N/A 550 N/A 700 390 480 330 900 RMB6.35
N/A N/A 550 N/A 700 390 500 330 990 RMB6.35
Light duty flatted factories Heavy duty flatted factories and warehouses Single storey conventional factory of structural steelwork Owner operated factpries, low rise
OTHERS
Basement carparks (< 3 levels) Elevated carparks (< 4 levels) Primary and secondary schools Student hostels Sports clubs inclusive of F.F. & E. Exchange Rate Used : US$1 =
The above costs are at 4th Quarter 2011 levels, inclusive of preliminaries and contingencies unless otherwise stated. For latest cost information, please refer to our Quarterly Construction Cost Review.
(Cont'd)
+ Rates are exclusive of contingencies.
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23
CONSTRUCTION COSTS FOR SELECTED ASIAN CITIES (Cont'd)

US$/m2 BUILDING TYPE MACAU BRUNEI INDIA SINGAPORE MANILA KUALA LUMPUR DOMESTIC
OFFICE/COMMERCIAL
3,455 3,015 1,545 2,230 2,200 2,520 2,710 2,480 2,560 3,440 1,333 1,537 2,241 1,438 1,559 2,163 2,080 2,320 2,240 752 1,105 917 871 1,192 1,097 406 514 470 723 817 1,588 820 1,080 960 1,290 1,230 1,600
2,400 2,040 1,680 2,760
962 317 463 1,070
751 525 871 1,071
409 300 347 439
1,210 620 845 1,070
HOTELS
Resort hotels N/A 3-star budget hotels, inclusive of F.F. & E. 2,560 5-star luxury hotels, inclusive of F.F. & E. 3,480
INDUSTRIAL
1,245 1,120 N/A N/A N/A 1,230 910 N/A N/A N/A MOP7.97 1,360 960 N/A 1,310 760 1,055 1,160 1,770 S$1.25
438 483 263 521 435 530 N/A 441 N/A 505 N/A 286 494 327 693 413 793 854 N/A RM3.15 B$1.26 313 252 317 254 222 178 228 605 INR50
OTHERS
430 475 410 440 480 465 590 695 1,260 PHP43

(Cont'd)

Rates are exclusive of contingencies and any management contract fee. Rates are nett of GST and exclusive of contingencies.
Rates based on projects in Bangalore and are nett of VAT and Service Tax. Mumbai costs are generally 8% higher. Rates are exclusive of contingencies and include 12% VAT.
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CONSTRUCTION COSTS FOR SELECTED ASIAN CITIES (Cont'd)

US$/m2 BUILDING TYPE KARACHI BANGKOK # JAKARTA ^ HO CHI MINH # SEOUL $ TOKYO DOMESTIC
OFFICE/COMMERCIAL
575 - 725 750 950 - 1,150 983 695 - 900 800 1,200 980 1,395 575 860 495 760 - 880 1,170 890 - 1,130 1,330 695 - 815 1,480 1,195 - 1,500 1,535 1,495 - 1,750 1,730 1,825 - 2,060 2,300 2,680 3,200 2,190
985 - 1,150 250 - 350 580 - 775 870 - 1,150
967 583 828 1,162
475 N/A 595 800
500 - 600 425 - 485 635 - 760 815 - 945
1,930 1,605 1,310 1,630
2,760 N/A 2,230 3,100
HOTELS
Resort hotels 1,965 - 2,305 2,267 3-star budget hotels, inclusive of F.F. & E. 1,125 - 1,450 1,367 5-star luxury hotels, inclusive of F.F. & E. 1,800 - 2,100 1,933
3,510 3,480 5,100
INDUSTRIAL
300 - 375 600 350 - 450 435 - 450 325 - 425 275 - 325 200 - 250 550 - 675 410 - 540 810 - 900 PKR89.42 N/A 600 N/A 683 350 N/A N/A N/A BAHT30
N/A 238 - 390 N/A 260 N/A 390 260 N/A N/A N/A IDR8,910 395 - 510 385 - 510 395 - 495 640 - 730 340 - 455 475 - 500 500 - 630 755 - 840 VND21,011
OTHERS
N/A N/A 690 N/A 965 565 1,820 1,080 1,460 KRW1,144
1,540 2,040 1,760 N/A N/A 1,690 2,070 1,890 2,280 JPY78.14
#
Rates are nett of VAT and contingencies. Rates are nett of VAT.
Rates are nett of VAT and exclusive of contingencies. Rates exclude contingencies, consultant fees and consumption tax.
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27
M&E COSTS FOR SELECTED ASIAN CITIES

BUILDING TYPE HK$/m MECHANIAL SERVICES
2
HONG KONG CHENGDU RMB/m2 RMB/m

2
SHANGHAI RMB/m
2
BEIJING RMB/m
2
GUANGZHOU/ CHONGQING SHENZHEN RMB/m

2
Offices Industrial * Hotels Shopping Centres Apartment

ELECTRICAL SERVICES
1,600 - 2,350 761 - 966 380 - 500 173 - 289 1,750 - 2,150 971 - 1,265 1,950 - 2,400 1,050 - 1,103 650 - 1,300 310 - 410 1,300 - 1,950 450 - 850 1,500 - 2,150 1,400 - 1,950 850 - 1,300 270 - 380 220 - 330 110 - 163 89 - 131 95 - 140 95 - 140 105 - 140 75 - 102 593 - 305 - 651 - 520 - 252 - 651 431 830 651 368 460 - 320 - 705 - 481 - 253 - 670 450 898 663 386 450 - 260 - 565 - 450 - 240 - 650 400 765 610 380 450 - 300 - 550 - 450 - 250 - 650 400 700 600 350 70 - 130 70 - 120 450 - 300 - 550 - 450 - 250 - 700 400 800 700 350 70 - 130 70 - 120
750 - 990 160 - 270 910 - 1,110 790 - 950 130 - 370
650 - 880 135 - 240 890 - 1,115 660 - 890 105 - 325
700 - 900 150 - 250 750 - 1,000 600 - 850 100 - 300
700 - 1,000 150 - 250 750 - 1,200 600 - 1,000 100 - 300
Offices Industrial ** Hotels Shopping Centres Apartment

HYDRAULIC SERVICES
Offices Industrial
Hotels
Shopping Centres Apartment

FIRE SERVICES
550 - 450 - 450 - 650 - 330 - 900 600 650 850 650 430 - 250 - 430 - 430 - 75 - 550 300 550 550 120 226 - 168 - 289 - 268 - 47 - 275 - 130 - 215 - 320 - 160 - 320 278 399 383 116 540 380 485 485 320
800 - 1,050 270 - 380 550 - 850
368 - 488 137 - 184 168 - 226
360 - 470 140 - 200 165 - 225 180 - 140 - 215 - 215 - 60 - 294 - 145 - 232 - 327 - 175 - 265 215 370 370 125 577 400 520 520 289
325 - 410 105 - 140 125 - 220 190 - 125 - 230 - 230 - 55 - 250 - 135 - 200 - 305 - 105 - 295 240 345 345 105 410 390 390 430 230
300 - 400 70 - 130 120 - 200 180 - 150 - 200 - 220 - 50 - 350 - 150 - 300 - 300 - 140 - 250 250 330 330 100 550 350 450 400 250
300 - 400 70 - 130 120 - 200 180 - 150 - 200 - 220 - 50 - 350 - 150 - 300 - 300 - 140 - 250 250 330 330 100 600 350 500 450 250
Offices Industrial Hotels Shopping Centres Apartment

LIFTS / ESCALATORS
The above costs are at 4th Quarter 2011 levels, exclusive of contingencies unless otherwise stated.
(Cont'd)
* Generally without A/C. ** Excludes special power supply.
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29
M&E COSTS FOR SELECTED ASIAN CITIES (Cont'd)

BUILDING TYPE MOP/m2 MECHANIAL SERVICES S$/m2 RM/m2 B$/m2 INR/m2 PHP/m2 MACAU BRUNEI SINGAPORE INDIA MANILA KUALA LUMPUR

ELECTRICAL SERVICES
N/A N/A 1,850 - 2,150 1,600 - 2,150 550 - 650 N/A N/A 1,900 - 2,300 1,900 - 2,100 650 - 850 N/A N/A 31 - 71 19 - 39 23 - 52 36 - 45 12 - 29 8 - 14 203 - 306 58 - 148 202 - 340 170 - 275 109 - 252 220 - 465 140 - 157 240 - 590 200 - 260 85 - 210 171 - 214 143 - 171 214 - 280 162 - 233 185 - 233 2,800 - 4,000 1,800 - 3,100 3,200 - 4,900 3,000 - 4,000 1,200 - 1,600 575 - 850 375 - 650 3,300 - 6,000 2,000 - 3,500 4,400 - 8,400 3,600 - 5,400 3,200 - 4,800 900 - 2,000 700 - 1,200
153 - 228 29 - 136 150 - 289 158 - 214 95 - 192
350 - 455 60 - 90 280 - 450 280 - 410 200 - 283
133 - 166 17 - 29 214 - 247 152 - 181 157 - 181
3,600 - 4,700 1,600 - 2,800 4,500 - 4,850 3,500 - 4,500 2,000 - 2,500
3,000 - 4,300 650 - 1,300 3,000 - 6,000 2,500 - 3,700 1,900 - 3,000

HYDRAULIC SERVICES
Offices Industrial
Hotels

FIRE SERVICES
97 - 136 49 - 75 75 - 159 32 - 24 - 49 - 38 - 19 - 64 54 78 63 53 62 - 177 46 - 114 76 - 138 83 - 200 27 - 123 N/A N/A 500 - 600 400 - 500 100 - 150 N/A N/A 500 - 700 400 - 600 400 - 500
850 - 1,050 300 - 400 550 - 750
173 - 235 23 - 30 18 - 45 57 - 45 - 65 - 60 - 20 - 80 60 90 80 25 88 - 400 54 - 190 85 - 370 85 - 110 63 - 105
45 - 62 9 - 30 28 - 44 24 - 9 - 19 - 24 - 19 - 7 - 3 - 9 - 9 - 8 - 29 14 36 48 38 24 14 33 27 19
3,000 - 4,500 1,750 - 3,800 825 - 1,500 650 - 1,100 1,300 - 1,800 1,300 - 2,600 900 - 1,200 400 - 550 1,000 - 1,300 850 - 950 450 - 550 650 - 900 400 - 550 800 - 1,000 800 - 1,100 500 - 700 600 - 1,200 600 - 900 600 - 1,100 600 - 900 600 - 1,300 1,600 - 2,900 N/A 1,500 - 3,000 700 - 1,700 800 - 1,500

LIFTS / ESCALATORS
The above costs are at 4th Quarter 2011 levels, exclusive of contingencies unless otherwise stated.
* Generally without A/C. ** Excludes special power supply.

Rates are nett of GST.
Rates are based on projects in Bangalore and are nett of VAT and Service Tax. Mumbai costs are generally 8% higher. Transformer, included in Electrical Services.
(Cont'd)
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31
M&E COSTS FOR SELECTED ASIAN CITIES (Cont'd)

BUILDING TYPE PKR/m2 MECHANIAL SERVICES BHT/m2 IDR'000/m2 VND'000/m2 KRW'000/m2 JPY/m2 KARACHI BANGKOK HO CHI MINH JAKARTA # SEOUL $ TOKYO

ELECTRICAL SERVICES
765 - 1,205 630 - 835 750 - 890 700 - 780 120 - 190 71 - 130 263 - 502 N/A 4,425 - 5,413 2,431 - 3,392 5,850 - 9,925 4,715 - 7,825 2,000 - 3,270 2,250 - 2,500 1,650 - 1,700 2,750 - 3,200 2,150 - 2,400 2,390 - 2,950 510 - 680 280 - 450 510 - 730 450 - 570 510 - 680 1,962 - 2,337 N/A N/A N/A 1,740 - 2,197 250 - 365 115 - 150 350 - 460 200 - 230 130 - 165 32 - 55 20 - 30 19,600 10,400 18,800 7,600 12,200 12,600 5,700
3,750 - 8,500 1,085 - 1,890 7,600 - 9,950 7,600 - 9,950 2,600 - 3,500
3,900 - 4,800 1,250 - 1,400 4,500 - 5,100 4,400 - 4,800 4,400 - 4,500
625 - 735 195 - 455 625 - 840 570 - 680 570 - 730
1,590 - 2,267 N/A N/A N/A 1,198 - 1,729
200 - 280 87 - 150 205 - 330 144 - 240 92 - 169
21,000 11,200 14,800 7,100 3,000

HYDRAULIC SERVICES
Offices Industrial
Hotels

FIRE SERVICES
3,200 - 4,845 1,350 - 1,490 465 - 1,240 780 - 950 1,360 - 1,970 1,150 - 1,350
510 - 740 120 - 190 510 - 730
N/A N/A 514 - 1,171
57 - 89 27 - 56 49 - 65
16,600 5,400 18,300

LIFTS / ESCALATORS
1,745 - 3,100 1,745 - 3,100 3,500 - 8,100 1,745 - 3,100 1,745 - 3,100
1,285 - 1,675 1,125 - 2,025 1,285 - 2,650 1,125 - 2,025 850 - 1,350
760 - 720 - 750 - 760 - 760 -
850 750 850 790 850 1,000 - 1,050 N/A 1,000 - 1,100 210 - 490 450 - 500
#
160 - 250 70 - 130 150 - 250 160 - 210 160 - 210 270 - 740 N/A 270 - 680 205 - 540 260 - 540
614 - 1,019 N/A N/A N/A 420 - 528 563 - 1,079 N/A N/A 1,161 - 1,642 633 - 920
40 - 27 - 56 - 42 - 32 -
65 30 87 69 65 45 - 60 16 - 25 110 - 155 55 - 78 27 - 38
Included in above
5,600 2,500 5,100 3,600 2,700
(Cont'd)
The above costs are at 4th Quarter 2011 levels, exclusive of contingencies unless otherwise stated. * Generally without A/C. ** Excludes special power supply. Based upon nett enclosed area and nett of VAT. $ Rates are nett of VAT.
All rates are nett of VAT. Rates for Electrical Services are excluding genset. Rates for Hydraulic Services are excluding STP. Rates for Mechanical Services refer to ACMV Rates only. All costs are average. Sprinkler system, fire hose reel are included in Hydraulic Services. Smoke spill exhaust system is included in Mechanical Services. Fire alarm system, emergency PA system are included in Electrical Services.
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33
MAJOR RATES FOR SELECTED ASIAN CITIES

DESCRIPTION HK$ RMB RMB RMB RMB RMB UNIT HONG KONG SHANGHAI BEIJING
GUANGZHOU/ CHONGQING SHENZHEN
CHENGDU
m3 m3 m3 m3 m3 m3 kg kg m2 180 m2 180 m2 190 m2 600 N/A N/A N/A 65 55 90 45 45 58 55 55 47 N/A 55 55 50 N/A
1. Excavating basements 2.00m deep 2. Excavating for footings 1.50m deep 3. Remove excavated materials off site 4. Hardcore bed blinded with fine materials 5. Mass concrete grade 15 6. Reinforced concrete grade 30 7. Mild steel rod reinforcement 8. High tensile rod reinforcement 9. Sawn formwork to soffits of suspended slabs 10. Sawn formwork to columns and walls 11. 112.5mm thick brick walls 12. "Kliplok Colorbond" 0.64mm profiled steel sheeting
115 110 190 * 650 900 1,130 9.8 9.8
30 25 105 168 400 470 6 6 55 55 60 @
15 18 25 120 500 560 6.3 6.3
25 30 68 155 380 465 6.2 6.2
16 18 43 120 380 420 6.3 6.3
20 25 35 130 380 420 6.3 6.3
1,700 25
600 12 10 35
780 ** 11 11 20
550 14 11 21
750 ** 12 10 22
750 ** 12 10 25
m2 kg kg 27 m2 80 m2 95 m2 270 m2 430 44 10 - 15
28 160 170 32 3-8
22 120 140 30 5 - 10
18 115 157 26 5 - 10
17 120 130 30 5 - 10
20 120 130 30 5 - 10
13. Aluminium casement windows, single glazed 14. Structural steelwork - beams, stanchions and the like 15. Steelwork - angles, channels, flats and the like 16. 25mm cement and sand (1:3) paving 17. 20mm cement and sand (1:4) plaster to walls 18. Ceramic tiles bedded to floor screed (m/s) 19. 12mm fibrous plasterboard ceiling lining 20. Two coats of emulsion paint to plastered surfaces Average expected preliminaries m2 %
The above costs are at 4th Quarter 2011 levels and are based on lump sum fixed price contract rates exclusive of preliminaries and contingencies unless otherwise stated.
(Cont'd)
* @

Rate including waste charges implemented on 1 Dec. 2005. Rates for 120mm thick concrete block walls.
**
Rates for double glazed window.
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35
MAJOR RATES FOR SELECTED ASIAN CITIES (Cont'd)

DESCRIPTION MOP S$ RM B$ INR PHP UNIT MACAU BRUNEI
SINGAPORE
KUALA LUMPUR INDIA MANILA
m3 m3 m3 m3 m3 m3 kg kg m2 160 m2 160 m2 250 m2 N/A 43 55 - 60 56 30 - 38 30 - 38 32 - 45 14.5 14 18.5 425 450 700 960 850 800 N/A 900
110 105 60 580 680 730 9.5 9.5
16.5 16.5 15 50 202 155 - 170 1.6 - 1.75 1.6 - 1.75 30 - 33 30 - 33 30 - 35
15 - 20 15 - 20 20 - 25 60 - 70 230 - 250 250 - 280 3.5 - 3.8 3.5 - 3.8
3.5 3 3 37 117 132 0.98 0.98
130 145 100 3,060 4,200 5,125 40 42
350 250 200 2,500 3,500 4,800 47 48
2,000 35
290 4.8- 5.8 4.8 - 5.8 11
350 - 500 6 - 7.5 6 - 7.5 15 - 22
166 - 216 3 2.7 7.5
3,700 75 75 300
9,000 100 95 350
m2 kg kg 32 m2 80 m2 95 m2 400 m2 460 80 8 - 15
15.5 65.5 30
15 - 22 50 - 70 30 - 45 3.5 - 4 6 - 12
8 23 28 5 5-8
230 1,100 850 130 5 - 10
350 1,200 1,300 350 8 - 15
13. Aluminium casement windows, single glazed 14. Structural steelwork - beams, stanchions and the like 15. Steelwork - angles, channels, flats and the like 16. 25mm cement and sand (1:3) paving 17. 20mm cement and sand (1:4) plaster to walls 18. Ceramic tiles bedded to floor screed (m/s) 19. 12mm fibrous plasterboard ceiling lining 20. Two coats of emulsion paint to plastered surfaces Average expected preliminaries m2 %
3.5 - 4 12 - 15
(Cont'd)
Rates are nett of GST. Rate for lean concrete blinding.
Rates are based on projects in Bangalore and are nett of VAT and Service tax. Mumbai costs are generally 8% higher. Rate for aluminium with anodized finish; 6mm thick.
36
37
MAJOR RATES FOR SELECTED ASIAN CITIES (Cont'd)

DESCRIPTION PKR BHT IDR'000 VND'000 KRW JPY UNIT KARACHI BANGKOK # JAKARTA # HO CHI MINH # TOKYO SEOUL $
m3 m3 m3 m3 m3 m3 kg kg 120 120 120 175 516 181 223 165 23,000 23,000 40,000 35,000 3,400 3,400 13,100 2,200
385 - 635 100 320 - 495 100 180 - 280 100 1,170 - 1,413 600 5,000 - 5,500 2,000 7,500 - 8,500 2,400 80 - 110 31 77 - 115 30 m2 485 - 625 350 m2 550 - 790 350 m2 990 - 1,060 700 m2 3,765 - 4,845 1,200
23 30 25 270 710 850 10 10
69 64 66 306 1,352 1,730 23.3 22.2
2,100 2,100 12,000 26,500 57,000 72,000 1,070 1,080
890 940 3,140 8,100 11,200 13,200 68 83
6,000 55
880 18 18 44
2,545 33.5 38.5 46
249,900 2,400 1,900 2,500
23,000 210 320 2,600
m2 5,000 - 7,500 kg 135 - 160
kg 135 - 160 55 m2 425 - 590 200 m2 375 - 580 200 m2 1,300 - 1,500 1,200 m2 850 - 1,250 800 100 10 - 15
50 110 100 18 5 - 10
66.35 245 300 62.3 8 - 12
8,300 55,000 24,000 7,100 6 - 11
3,000 6,100 N/A 900 10 - 15
13. Aluminium casement windows, single glazed 14. Structural steelwork - beams, stanchions and the like 15. Steelwork - angles, channels, flats and the like 16. 25mm cement and sand (1:3) paving 17. 20mm cement and sand (1:4) plaster to walls 18. Ceramic tiles bedded to floor screed (m/s) 19. 12mm fibrous plasterboard ceiling lining 20. Two coats of emulsion paint to plastered surfaces Average expected preliminaries m2 270 - 375 % 8 - 10
# Rates are nett of VAT. Rate for 9mm gypsum board. $ &
Rates include labour costs and are nett of VAT. Including undercoat and primer.
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CONSTRUCTION COSTS FOR SELECTED INTERNATIONAL CITIES

US$/m2 BUILDING TYPE SYDNEY LONDON AUCKLAND JO'BURG LOS SAN ANGELES FRANCISCO NEW YORK RESIDENTIAL
Average multi unit, high rise Luxury unit, high rise Individual prestige houses
COMMERCIAL/RETAIL
2,845 3,265 3,440 2,815 1,650 3,400 3,500 3,800 2,670 1,640 4,200 4,300 4,500
1,770
940
3,500
3,600
3,700
2,420 - 3,060 3,220 - 4,420 3,600 - 5,430
Average standard offices, high rise 3,160 Prestige offices, high rise Major shopping centre (CBD)
HOTEL
1,605 1,850 1,110 1,180 2,800 3,100 1,600 4,200 4,400
1,250
3,700
3,900
4,000 4,500 3,200
2,800 - 3,520 4,000 - 5,120 1,830 - 2,390
3,585 2,530
CONSTRUCTION COSTS FOR SELECTED INTERNATIONAL CITIES
3 star budget
3,265
2,220
1,900
2,100
2,200
2,250
1,940 - 2,340
5 star luxury Resort style

INDUSTRIAL
4,530 4,110 2,220
2,880
2,500 3,000
4,500 4,500
4,600
4,700 4,600 N/A
3,570 - 4,370 N/A
Light duty factory Heavy duty factory

OTHERS
685 450 865 575
430 1,200 1,400 600 1,600 1,800
1,200 1,900
850 - 1,070 1,410 - 1,760
Multi storey carpark District hospital Primary and secondary schools Exchange Rate Used (as at July 2011) US$1 =
895 4,055 1,720 A$0.93
535 3,130 1,760 NZ$1.25
460 1,250 850 ZAR7.00
850 7,300 3,00 US$1.00
880 7,500 3,200 US$1.00
900 6,300 3,600 US$1.00
510 - 860 2,950 - 3,680 2,230 - 3,300 GBP0.63
The above costs are at 2nd Quarter 2011 levels. Prices exclude land, site works, professional fees, tenant fitout, equipment and GST/VAT. Hotel rate includes FF&E. Large fluctuation in exchange rates can create short term anomalies.
40
GENERAL CONSTRUCTION DATA

2012 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
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. 43 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, Chongqings 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 countrys 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 Governments 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.
(Cont'd)
44
2012 OUTLOOK
With this improved sentiment, private residential developers have pressed ahead with new projects. Despite the HKSAR Governments 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 Executives 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 SARs 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) 45 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.
CONSTRUCTION COST TREND PREDICTION
REGION 2011 2012 2013
China (1) Hong Kong (1) Hong Kong (2 Macau (1)

(1) Building
+5% +8% +8% +7%
+5% +8% +8% +8%
+5% +8% +6% +8%
Works (2) Civil Engineering Works
46
BUILDING COST TRENDS IN HONG KONG
YEAR
Q1
(Base = 100, at Year 1970) Q2 Q3 Q4
INDEX
YEAR
Q1
(Base = 100, at Year 1970) Q2 Q3 Q4
INDEX
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
1,079 990 915 855 940 945 970 1,020 1,239 1,245 1,297 1,385
1,057 960 890 878 952 955 980 1,074 1,360 1,242 1,315 1,425
1,040 945 875 895 933 963 985 1,175 1,355 1,253 1,342 1,452
1,020 935 840 895 930 970 990 1,150 1,281 1,273 1,367 1,476*
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011*
959 862 687 720 685 711 714 821 1,118 1,074 1,134 1,273
873 842 742 723 712 716 730 859 1,305 983 1,161 1,320
858 807 692 722 704 718 751 906 1,401 1,111 1,249
844 721 733 681 701 697 789 998 1,262 1,107 1,266
* Up to Q2 only
* Provisional Historical TPI values from 1970 onwards available at www.dlsqs.com.
Source : Architectural Services Department, Hong Kong, SAR Refer to www.archsd.gov.hk for further information. (Cont'd)
47
48

LABOUR INDEX IN HONG KONG
BUILDING COST TRENDS IN HONG KONG
YEAR
(Nov. 1975 Value = 100)
HYD CONST. COST INDEX
(1980 Value = 100)
CEDD CIVIL ENGINEERING WORKS INDEX
YEAR
Q1
(Base = 100, at June 1995) Q2 Q3 Q4
INDEX
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011*
844 838 839 848 871 869 886 917 1,031 950 989 1,061
419 416 416 419 428 429 436 450 500 461 481 518
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011*
152 152 150 147 143 137 131 137 129 129 131 133
153 152 150 146 140 136 133 135 128 128 131 134
154 152 149 146 140 133 134 131 128 129 131
154 151 148 143 138 132 136 130 129 130 132
* 1/11 to 8/11 only Source : Civil Engineering and Development Department, Hong Kong, SAR Refer to www.cedd.gov.hk/eng/index.htm for further information.
* Up to Q2 only Source: Census and Statistics Department, Hong Kong, SAR Refer to www.censtatd.gov.hk for further information.
Figures above are the quarterly average of the monthly indices
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50
MATERIAL PRICES IN HONG KONG

GALVANIZED MILD STEEL ANGLE SAND
Source: Census and Statistics Department, Hong Kong, SAR Refer to www.censtatd.gov.hk for further information.
REBAR
ORDINARY PORTLAND CEMENT
(Cont'd)
51
52

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.
MATERIAL PRICES IN HONG KONG

COPPER GRADE A
Source: International Monetary Fund Refer to www.imf.org for further information.
CRUDE OIL
CONTRACT CUMULATIVE PROGRESS PERIOD CLAIMES
CONTRACT CUMULATIVE PROGRESS PERIOD CLAIMES
5% 10% 15% 20% 25% 30% 35% 40%

Source: Organization of the Petroleum Exporting Countries (OPEC) Refer to www.opec.org for further information.
1% 3% 5% 7% 10% 14% 21% 29% 38% 48%
55% 60% 65% 70% 75% 80% 85% 90% 95% 100%
59% 68% 77% 83% 88% 92% 94% 96% 98% 100% 54
45% 50%
53
ESTIMATING RULES OF THUMB AND DESIGN NORMS FOR HONG KONG

CFA TO GFA RATIO Building Type

CFA : GFA
AVERAGE PILING RATIO - BORED PILES

Building Type
2 2
Residential Office / Commercial Hotel
1.15 to 1.25 : 1 1.15 to 1.25 : 1 1.30 to 1.45 : 1
m CFA / m cross section area of piles
200 - 300 200 - 250 200 - 300
FUNCTIONAL AREA DISTRIBUTION IN 5-STAR HOTELS

Functional Area % of Total Hotel CFA
AVERAGE PILING RATIO - DRIVEN H-PILES

Building Type m2 CFA / No. of piles
Front of House Guestroom Floors Back of House
15 - 20% 50 - 60% 25 - 30%
50 - 90 50 - 80 50 - 90
DIMENSIONS OF TYPICAL GRADE A OFFICE SPACE

Component Dimension
AVERAGE PILING RATIO - PRE-BORED H-PILES

Building Type m2 CFA / No. of piles
Distance from curtain wall to core wall Population Average waiting interval for lifts
9 - 13 m 9 m2 usable floor area/person 30 - 40 seconds
70 - 120 70 - 110 70 - 120
DENSITY OF BASIC MATERIALS FOR STRUCTURE

Material Density
All pile ratios are for high-rise buildings with normal soil conditions. BUILDING STRUCTURE - CONCRETE RATIO Concrete/floor area Formwork/floor area Reinforcement 0.4 m3/m2 to 0.5 m3/m2 2.2 m2/m2 to 3.0 m2/m2 160 kg/m3 to 250 kg/m3
Concrete Cement Sand Aggregate Steel AVERAGE LOADS VOLUME Lorry (24 ton) Concrete truck (24 ton) Barge
2,400 kg/m3 1,450 kg/m3 1,600 kg/m3 1,600 kg/m3 7,843 kg/m3
AVERAGE EXTERNAL WALL/FLOOR RATIO 10.0 m 5.5 m3 200 - 1,450 m3

3
Residential Apartments Office, Hotel Industrial
1.0 m2/m2 0.4 m2/m2 0.4 m2/m2

(Cont'd)
55
56
ESTIMATING RULES OF THUMB AND DESIGN NORMS FOR HONG KONG

AVERAGE INTERNAL WALL/FLOOR RATIO
DIMENSIONS OF PARKING SPACES 1.0 m /m 0.5 m2/m2 1.5 m2/m2

2 2
Residential Apartments Office Hotel
Minimum Type of Vehicle Length Width Headroom
Private Cars and Taxis Light Goods Vehicles Medium/Heavy Goods Vehicle Container Vehicles Coaches and Buses
5 m 7 m 11 m 16 m 12 m
2.5 m 3.5 m 3.5 m 3.5 m 3.5 m
2.4 m 3.6 m 4.7 m 4.7 m 3.8 m
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

Lux
Light buses 8 m 3 m 3.3 m Residential 300 Office 500 Minimum headroom means the clearance between Retail 400 Hotel 300 the floor and the lower most projection from the ceiling School 300 - 500 including any lighting units, ventilation ducts, conduits or similar. AVERAGE POWER DENSITY
Building Type VA/m2 CFA
INDICATIVE DIMENSIONS FOR SPORTS GROUNDS Tennis Court Squash Court Basketball Court Volleyball Court Badminton Court Ice Rink
Length Width
Residential 80 - 100 Office 70 Retail 300 - 400 Hotel - Accommodation 30 Hotel - F&B Area 550 School 50 AVERAGE COOLING LOAD
Building Type m2 Cooling Area/RT
40 m 10 m 34 m 36 m 20 m 61 m 120 m
20 m 6.4 m 20 m 20 m 10 m 26 m 90 m
Residential 18 - 23 Office 14 - 18 Retail 12-14 Hotel 23 School 23
Soccer Pitch
The above dimensions are for a single court with appropriate clearance. No spectator seating or support area has been allowed. 58
57

CONSTRUCTION VALUE IN HONG KONG
CONSTRUCTION ACTIVITY IN HONG KONG
YEAR
COMPLETED m2
CONSENT TO COMMENCE m2
YEAR
VALUE IN NOMINAL VALUE IN CONSTANT TERMS (2000) MARKET PRICE HK$ MILLIONS HK$ MILLIONS
2000 2001 2002

#
1,515,000 1,850,000 1,354,000 1,388,000 1,908,000 1,372,000 1,587,000 1,683,000 1,720,000 1,115,000 1,227,000 1,476,000 1,389,000 1,398,000 1,030,000 1,539,000 1,097,000 997,000 815,000 1,075,000 1,139,000 1,210,000 750,000 791,000
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011*
122,071 114,691 113,986 111,385 106,000 108,677 99,032 106,274 93,171 100,615 90,851 98,275 90,230 96,269 92,866 96,844 99,599 97,024 100,944 93,683 111,274 100,278 91,332 78,106
2003 2005 2007 2009
2004#
#
2006#
#
2008#
#
2010# 2011#*

* 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

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.
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60
FIREE RECORDALS TRACKER: NOVEMBER 2011 UPDATE

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. 2. Cities with the highest number of FIREE recordals from May 2007 to Nov 2011: 1. FIREE recordals: monthly from 1 Jan 2009 to 30 Nov 2011:
Provided by :
Mr. Rico Chan
Partner Partner Baker & McKenzie Hong Kong Office Baker & McKenzie Beijing Office +852 2846 1971 +86 10 6535 3824 rico.chan@bakermckenzie.com barbara.li@bakermckenzie.com
Provided by :
Ms. Barbara Li Mr. Rico Chan
Ms. Barbara Li
(Cont'd)
61
62
FIREE RECORDALS TRACKER: NOVEMBER 2011 UPDATE

3. Types of FIREE recordals from May 2007 to Nov 2011: flowing into China cannot be converted into Renminbi (Chinas 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.
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
Provided by :
Mr. Rico Chan
Provided by :
Ms. Barbara Li Mr. Rico Chan
Ms. Barbara Li
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64
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. 65 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 Contractors own workmen) or damage to property (other than the Works), due to the carrying out of the Works which may or may not be caused by a default of the contractor. The policy is normally subject to a maximum 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 contractors 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 contractors 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.
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SPECIFIED FORMS FOR BUILDINGS ORDINANCE OR REGULATIONS

FORM NO.
BA1 BA1A BA1B BA2 BA2A BA2B BA2C BA4 BA5 BA6 BA7 BA8 BA9 BA10 Application for renewal of consent to the carrying out of building works or street works. Application for consent to the commencement and carrying out of building works or street works. Notice of urgent works required as a result of accident or emergency. Stability certificate of authorized person and/or registered structural engineer. Application for approval of plans of building works and/or street works, and certificate of preparation of plans. Application for restoration of name to the register of general building contractors / specialist contractors. Application for approval of technical director / other officer / person appointed to act for the purposes of the Building BOs 8B Ordinance for a registered general building contractor / registered specialist contractor. Notice of appointment of authorized person and/or registered structural engineer and/or registered geotechnical engineer. B(A)R 23(1A) B(A)R 29(1) & 18A B(A)R 18 BOs 19(3), B(A)R 28 B(A)R 31 BOs 20(2) Application for renewal of registration as a registered general building contractor / registered specialist contractor. BOs 8C(2) BOs 8D(2) Application for registration as a general building contractor / specialist contractor. BOs 8B Application for restoration of name to the authorized persons' register / structural engineers' register / geotechnical BOs 3(12) engineers' register. Application for retention of name in the authorized persons' register / structural engineers' register / geotechnical BOs 3(9B) engineers' register. Application for inclusion in the authorized persons' register / structural engineers' register / geotechnical engineers' register. BOs 3(6)
PURPOSE
RELEVANT SECTION OF REGULATION
SPECIFIED FORMS FOR BUILDINGS ORDINANCE OR REGULATIONS FOR HONG KONG
Notice of appointment of registered contractor, notice of commencement of building works or street works and undertaking B(A)R 20 by registered contractor.
BA11 BA12 BA13 BA14 BA14A BA15 BA16 BA17 BA18 BA19 BA20 BA21 BA22 BA23 BA24 Certificate on completion of demolition works. Notice of intended material change in the use of a building.
Notice from a registered contractor on ceasing to be appointed in respect of building works or street works and certificate B(A)R 24 in respect of that part of the building works or street works carried out by the registered contractor. Certificate on completion of building works resulting in a new temporary building, a new building or part of a new building B(A)R 25, BOs 21(2) and application for temporary occupation permit in respect of such building or part. Certificate on completion of building works resulting in a new building and appplication for permit to occupy such building. B(A)R 25, BOs 21(2) Certificate on completion of building works not resulting in a new building or of street works. B(A)R 25 & 26 B(A)R 25 BOs 25(1)
Application for modification of and/or exemption from the provisions of the Buildings Ordinance and/or Regulations BOs 42(2) made thereunder. Application for permit to erect a temporary building. Application for permit to erect a contractor's shed. Application for permit to erect hoardings, covered walkways or gantries. B(P)R 51 B(P)R 53(1) B(P)R 64
Notice of technically competent person or persons appointed to supervise demolition works. B(DW)R 8(3) Notice of nomination by authorized person or registered structural engineer or registered geotechnical engineer of another authorized person or registered structural engineer or registered geotechnical engineer to act in his stead during B(P)R 23(2) temporary inability to act. Application for authorization to carry out and/or maintain groundwater drainage works. BOs 28B(1) Application for grant/renewal of licence for an oil storage installation. B(OSI)R 6(1) & 7(3) Notification to the Building Authority of change of business address of authorized person / registered structural engineer B(A)R 45 / registered general building contractor / registered specialist contractor.
Source : Buildings Department, Hong Kong, SAR. Refer to www.bd.gov.hk for further information.
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PERCENTAGE SITE COVERAGE AND PLOT RATIOS FOR HONG KONG
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.
SUMMARY OF BUILDING REGULATIONS FOR HONG KONG
DESCRIPTION Administration
NUMBER OF REGULATIONS 48
Appeal
14
Construction
93
Demolition Works Energy Efficiency Oil Storage Installations
13 OPEN SPACE ABOUT DOMESTIC BUILDINGS

Item Class of site Open space required
12
Planning Private Street and Access Roads Refuse Storage Chambers and Chutes Standards of Sanitary Fitments, Plumbing, Drainage Works and Latrines Ventilating Systems
72
1.
Class A site
ot less than one-half of N the roofed-over area of the building
28 2. Class B site Not less than one-third of the roofed-over area of the building
25
91 3. 7 Class C site Not less than one-quarter of the roofed-over area of the building
Source: Buildings Ordinance, Hong Kong, SAR Refer to www.legislation.gov.hk for further information.
(Cont'd)
69
70
PERCENTAGE SITE COVERAGE AND PLOT RATIOS FOR HONG KONG

DOMESTIC BUILDINGS NON-DOMESTIC BUILDINGS
Height of Building in metres
Percentage site coverage
Plot Ratio
Percentage site coverage
Plot Ratio
Class Class Class Class Class Class A B C A B C site site site site site site Not over 15 m 15 m to 18 m 18 m to 21 m 21 m to 24 m 24 m to 27 m 27 m to 30 m 30 m to 36 m 36 m to 43 m 43 m to 49 m 49 m to 55 m 55 m to 61 m Over 61 m
Class A site
Class B site
Class C site
Class A site
Class B site
Class C site
66.6 60 56 52 49 46 42 39 37 35 34 33.33
75 67 62 58 55 52 47.5 44 41 39 38 37.5
80 72 67 63 59 55 50 47 44 42 41 40
3.3 3.6 3.9 4.2 4.4 4.6 5.0 5.4 5.9 6.3 6.8 8.0
3.75 4.0 4.3 4.6 4.9 5.2 5.7 6.1 6.5 7.0 7.6 9.0
4.0 4.3 4.7 5.0 5.3 5.5 6.0 6.5 7.0 7.5 8.0 10.0
100 97.5 95 92 89 85 80 75 69 64 60 60
100 97.5 95 92 90 87 82.5 77.5 72.5 67.5 62.5 62.5
100 97.5 95 92 90 88 85 80 75 70 65 65
5 5.8 6.7 7.2 8.0 8.5 9.5 10.5 11.0 11.5 12.2 15
5 5.8 6.7 7.4 8.1 8.7 9.9 10.8 11.6 12.1 12.5 15
5 5.8 6.7 7.4 8.1 8.8 10.2 11.2 12.0 12.6 13.0 15
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72
PROPERTY
Property 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
PROPERTY COMMENTARY
HONG KONG'S PROPERTY MARKET IN 2011 Economic overview
Hong Kongs economic growth remained stable in 2011 although the global economy outlook remained unclear amid the outbreak of the European sovereign debt crisis. Hong Kongs 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 citys GDP growth forecast for 2012 from 56% to 5%. 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.
Office
The 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.
Residential
Hong 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.
75
Provided by :
Provided by :
(Cont'd)
76
3. PROPERTY
PROPERTY COMMENTARY
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. 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.
Industrial
Hong Kongs industrial property market continued to recover over 2011, in the aftermath of the global financial tsunami. The governments 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.
Retail
Hong Kongs 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
77
Provided by :
Provided by :
78
3. PROPERTY
PROPERTY INDICATORS
HONG KONG GRADE-A OFFICE PRICE HONG KONG GRADE-A OFFICE RENTAL VALUES
* Oct figure Source: Knight Frank
HONG KONG GRADE-A OFFICE VACANCY RATES
HONG KONG GRADE-A OFFICE SUPPLY
Source: Rating and Valuation Department / Knight Frank
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80
81
GROSS FLOOR AREA (GFA) CALCULATIONS IN HONG KONG

FEATURE REMARKS
Area within outer surface of external walls. General floor area Accountable Accountable Accountable Non-accountable if for residential buildings and be open on at least 2 sides, max. 50% area grantable. Non- accountable if: 1. The curtain wall system itself does not form part of the structural system of the parent building; 2. The system does not result in any additional floor area at a floor level; 3. The projection of the system from the outer face of the structural elements does not exceed 300 mm. Precast facades may subject to conditions be excluded from GFA calculation. Subject to justification with reasonable plant layouts. Except staircases and lift shafts solely serving non-accountable areas. Basement Balcony / utility platform * Curtain wall / cladding Non-accountable BUILDING (PLANNING) REGULATION
3. PROPERTY
External wall finishes (including bay windows) * Non-accountable Non-accountable Accountable Accountable Non-accountable Accountable Plant rooms Staircases and lift shafts Covered public carparking space Covered private carparking space Lobby *
GROSS FLOOR AREA (GFA) CALCULATIONS IN HONG KONG
Applicable only for spaces serving users of the building required under local standard and built below ground. Concession may be granted for lift lobbies subject to conditions.
Canopy Refuge floor Non-accountable Accountable Accountable Non-accountable Non-accountable Accountable Non-accountable Accountable Accountable Accountable Space below elevated ground floor Covered walkways * Loading and unloading bay Refuse storage chambers, refuse storage, refuse chutes, refuse hopper rooms Floor space inside sloping roof Covered area on roof-tops Recreational facilities * Spaces for watchmen and management staff * External staircases
Accountable
Non-accountable when the canopy soley serves as protection against weather and falling object.
Non-accountable if the covered areas are clearly intended for and designed as playground or dedicated as public passage. Open-sided covered walkways for common areas in residential developments may be exempted, subject to the proposed walkways being not for commercial use. Applicable if required under local standard/lease and built below ground.
Non-accountable for plant rooms and staircases only. Non-accountable subject to conditions. Non-accountable subject to conditions. Non-accountable if situated in non-accountable areas.
* Total concessions of these areas are subject to a cap of 10% of the total GFA and prerequisites with sustainability designs.
Disclaimer : GFA calculations are subject to various legislation and practice notes. All cases of accountable or non-accountable GFA are subject to individual conditions. The above presents a brief summary only and users are advised to seek professional advice from authorized persons. Davis Langdon & Seah herewith disclaims any liability that may arise from unsolicited use of the information given above.
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83
GROSS FLOOR AREA (GFA) CALCULATIONS IN PRC

FEATURE
General floor area Accountable Accountable Accountable Accountable Non-accountable Accountable Accountable Accountable Accountable Accountable Except decorative type of curtain wall. Basement Balcony / utility platform Curtain wall / cladding External wall finishes (including bay windows) Plant rooms Staircases and lift shafts Covered public carparking space Covered private carparking space Lobby Area within outer surface of external insulation. Shanghai : External insulation is exempted from calculation of plot ratio. 1. Beijing: Non-accountable 2. Shanghai : Non-accountable. 3. Guangzhou : Accountable for GFA except where the floor space is solely for plant rooms or carpark.
NATIONAL STANDARD - STANDARD MEASUREMENT FOR CONSTRUCTION AREA OF BUILDING (GB/T 50353-2005)
GROSS FLOOR AREA (GFA) CALCULATIONS IN PRC
REMARKS FOR BEIJING, SHANGHAI AND GUANGZHOU
3. PROPERTY
Canopy Refuge floor Accountable Accountable Accountable Accountable Accountable Accountable Accountable Accountable Accountable Accountable Space below elevated ground floor Covered walkways Loading and unloading bay Refuse storage chambers, refuse storage, refuse chutes, refuse hopper rooms Floor space inside sloping roof Covered area on roof-tops Recreational facilities Spaces for watchmen and management staff External staircases
Accountable
Non-accountable subject to width of the canopy not exceeding 2.1m. 1. Shanghai : Non-accountable. 2. Guangzhou : Only refuge areas on refuge floor are non-accountable. Non-accountable for GFA if for the usage of walkway, green, public amenities or similar public function.
Non-accountable if not roofed over. Non-accountable if not roofed over. Non-accountable if clear height does not exceed 1.2m. 1. Shanghai : Non-accountable if the area of the construction on rooftop does not exceed 1/8 of the area of the typical floor. 2. Guangzhou: Staircase, lift lobby and water tank room on roof-tops are exempted from GFA
Non-accountable if not roofed over.
Disclaimer : GFA calculations are subject to various legislation and practice notes. All cases of accountable or non-accountable GFA are subject to individual conditions. The above presents a brief summary only and users are advised to seek professional advice from authorized persons. Davis Langdon & Seah herewith disclaims any liability that may arise from unsolicited use of the information given above.
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3. PROPERTY
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:
FINANCIAL
Financial Definitions Financial Formulae Mortgage Repayment Table Composite CPI Exchange Rates Currency Charts Prime Rates Hang Seng Index
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 by Davis Langdon & Seah.
85
4. FINANCIAL
FINANCIAL FORMULAE
FINANCIAL DEFINITIONS
DISCOUNT RATE The 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 RULE The 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.
Future value of $1 Future value of $1 per period Sinking fund (the amount required to be put away periodically to realise some future sum) Present value of $1 Present value of $1 per period Annuity with a PV of $1 (mortgage bond formula)
FV = PV (1 + i)n
FV = PMT [((1+i)n - 1) i]
PMT = FV [ i ((1 + i)n - 1)]
PV = FV [1 (1+i)n]
PV = PMT[((1+i)n -1)( i(1+i)n)]
PMT = PV[(i (1+i)n) ((1+i)n -1)]
PV FV PMT
= present value = future value = 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)
Refer to www.hkifa.org.hk for further information.
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88
4. FINANCIAL
COMPOSITE CPI
MORTGAGE REPAYMENT TABLE

Based on :
1,000 units of currency Interest compounded monthly Equal monthly repayments
INTEREST p.a.
REPAYMENT (years) 10 15 20 25
1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 11% 12% 13% 14% 15%

Example:
8.76 9.20 9.66 10.12 10.61 11.10 11.61 12.13 12.67 13.22 13.78 14.35 14.93 15.53 16.13
5.98 6.44 6.91 7.40 7.91 8.44 8.99 9.56 10.14 10.75 11.37 12.00 12.65 13.32 14.00
4.60 5.06 5.55 6.06 6.60 7.16 7.75 8.36 9.00 9.65 10.32 11.01 11.72 12.44 13.17
3.77 4.24 4.74 5.28 5.85 6.44 7.07 7.72 8.40 9.09 9.80 10.53 11.28 12.04 12.81
YEAR INDEX % CHANGE
1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011*
90.2 95.9 101.5 104.3 100.2 96.5 94.9 92.0 89.7 89.3 90.1 92.0 93.8 97.8 98.4 100.7 105.5
9.2% 6.3% 5.8% 2.9% -3.9% -3.7% -1.6% -3.1% -2.6% -0.4% 1.0% 2.0% 2.0% 4.3% 0.5% 2.4% 5.2%
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
* 01/11 to 10/11 only 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.
Refer to www.hkmc.com.hk for an online mortgage calculator.
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90
4. FINANCIAL
EXCHANGE RATES
Approximate rates prevailing on 30 November 2011.
COUNTRY
CURRENCY
HK$1
US$1
COUNTRY
CURRENCY
HK$1
US$1
Australia Brunei Canada China EU (Euro Zone) Hong Kong India Indonesia Japan Kazakhstan Macau Malaysia
Source
Dollar Dollar Dollar Renminbi Euro Dollar Rupee Rupiah Yen Tenge Pataca Ringgit
0.13 0.17 0.13 0.82 0.10 1.00 6.70 1,177.26
1.00 1.30 1.03 6.39 0.75 7.79 52.18 9,170.00
New Zealand Pakistan Philippines Qatar Singapore South Korea Taiwan Thailand United Kingdom United States of America Vietnam
Dollar Rupee Peso Rial Dollar Won NT Dollar Baht Pound Dollar Dong
0.17 11.23 5.61 0.47 0.17 146.63 3.89
1.31 87.47 43.74 3.64 1.30 1,142.14
30.27
4.02 0.08 0.13 2,709.29
31.32 0.64 1.00 21,103.31
10.01 19.05 1.03 0.41
77.93 148.39 7.99 3.19
: www.exchange-rates.org
Source
: www.exchange-rates.org
Refer also : www.xe.com
Refer also : www.xe.com
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4. FINANCIAL
CURRENCY CHARTS
STERLING POUND AUSTRALIAN DOLLAR
JAPANESE YEN
RENMINBI
Source : Hong Kong Monetary Authority Refer to www.info.gov.hk/hkma for further information Refer also : www.xe.com ; www.exchange-rates.org
Source : Hong Kong Monetary Authority Refer to www.info.gov.hk/hkma for further information Refer also : www.xe.com ; www.exchange-rates.org
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4. FINANCIAL
PRIME RATES
PRIME RATES AND BASE LENDING RATES AS AT 4TH QUARTER 2011 COUNTRY % CHANGE
Australia1 Brunei
2 3
4.50 5.50 6.90 10.25 5.00 14.75 6.00 1.60 5.25 6.60 10.01 5.74 5.38 9.00 3.25 7.71 0.50 3.25 9.00
CHANGES IN HONG KONG PRIME RATES DATE % DATE %
China Egypt India
Hong Kong
Indonesia Japan
4
Macau Malaysia New Zealand5 Pakistan6
13.97
Philippines Singapore South Africa South Korea
Thailand8 United Kingdom United States of America

9
Vietnam
1 - O/N Cash Rate 6 - Weighted Average Lending Rate 2 - 3-Year Benchmark Lending Rate 7 - Base Rate of The Bank of Korea 3 - Overnight Lending Rate 8 - Minimum Loan Rate % per 4 - Long-term prime rate % per annum (average based on local annum (implementation date is bank) 10 Dec. 2010) 9 - Min. and in VND per year 5 - SME Overdraft Rate (Previously Business Base Lending Rate)
14 Feb 2000 27 Mar 2000 22 May 2000 08 Jan 2001 05 Feb 2001 26 Mar 2001 23 Apr 2001 21 May 2001 03 Jul 2001 24 Aug 2001 19 Sep 2001 04 Oct 2001 08 Nov 2001 13 Dec 2001 08 Nov 2002 23 Sep 2004 12 Nov 2004 21 Mar 2005
8.75 9.00 9.50 9.00 8.50 8.00 7.50 7.00 6.75 6.50 6.00 5.50 5.25 5.125 5.00 5.125 5.00 5.25
23 May 2005 05 Jul 2005 22 Jul 2005 11 Aug 2005 23 Sep 2005 03 Nov 2005 15 Dec 2005 30 Mar 2006 07 Nov 2006 20 Sep 2007 02 Nov 2007 12 Nov 2007 13 Dec 2007 24 Jan 2008 01 Feb 2008 20 Mar 2008 10 Nov 2008
5.75 6.25 6.50 6.75 7.00 7.50 7.75 8.00 7.75 7.50 7.25 7.00 6.75 6.00 5.75 5.25 5.00
Source : Hong Kong Monetary Authority Refer to www.info.gov.hk/hkma for further information.
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4. FINANCIAL
HANG SENG INDEX
OTHER INFORMATION
cUtility Costs for Selected Asian Cities Conversion Factors IDD Codes and Time Differences Public Holidays HANG SENG INDEX Davis Langdon & Seah Professional Services DLS Infrastructure Team DLS Interior Fitting Out Team DLS Project Monitoring Team DLS Sustainability Services Team
Refer to www.aastocks.com for further information.
Directory of Offices Telephone Directory
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UTILITY COSTS FOR SELECTED ASIAN CITIES

EXCHANGE RATE
US$1=
ELECTRICITY
DOMESTIC US$/kWh COMMERCIAL/ INDUSTRIAL US$/kWh
WATER
DOMESTIC US$/m3 COMMERCIAL/ INDUSTRIAL US$/m3 DIESEL US$/litre
FUEL
LEADED US$/litre UNLEADED US$/litre
CITY
Hong Kong Shanghai Beijing Guangzhou Shenzhen Macau Kuala Lumpur Singapore Jakarta
HK$7.80 RMB6.35 RMB6.35 RMB6.35 RMB6.35 MOP7.97 RM3.15 S$1.25 IDR8,910
0.10
0.097(peak) / 0.048(normal)
0.11
0.16(peak) / 0.077(normal)
0.83 0.46 0.63 0.20 0.361 - 0.721 0.54
0.59 0.60 0.98 0.43 / 0.29 0.525 0.66
1.52 1.17 1.08 0.84 1.177 1.48 0.57 1.27 0.475
N/A N/A N/A N/A N/A N/A N/A N/A N/A
2.05 1.19 - 1.26 1.13 1.04 1.089 - 1.271 1.99 0.60 1.75 0.505
0.07 0.09 0.1066 0.11 0.069 - 0.144 0.22 0.089
0.13 0.17 / 0.14 0.048 - 0.183 0.12 0.110 - 0.137 0.22 0.102
0.181 - 0.635 0.657 - 0.724 1.44 0.250 1.67 0.475

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 Beijing and Guangzhou, China Unleaded fuel rate is for Unleaded gasoline 97. 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 : C harges 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 Shanghai, China Unleaded Fuel 93# = US$1.19/litre; 97# = US$1.26/litre Basis of Charges in Shenzhen, China Water Domestic : Within 22m3 = US$ 0.361/m3; 23 - 30m3 = US$ 0.541/m3; 3 3 31m and above = US$ 0.721/m 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
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)
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UTILITY COSTS FOR SELECTED ASIAN CITIES

EXCHANGE RATE
US$1=
ELECTRICITY
DOMESTIC US$/kWh COMMERCIAL/ INDUSTRIAL US$/kWh
WATER
DOMESTIC US$/m3 COMMERCIAL/ INDUSTRIAL US$/m3 DIESEL US$/litre
FUEL
LEADED US$/litre UNLEADED US$/litre
CITY
Bangkok Manila Brunei Ho Chi Minh Bangalore New Delhi Karachi Seoul Tokyo
BHT30.00 PHP43.00 B$1.26 VND21,000 INR50.00 INR50.00 PKR89.42 KRW1,146 JPY78.14
0.044 - 0.096 0.20 - 0.27 0.008 - 0.12 0.091 0.078 - 0.196 0.098 - 0.167 0.078 - 0.16 0.155 0.277
0.054 - 0.056 0.21 0.057 - 0.159

0.082 - 0.141 / 0.051 - 0.092
0.274 - 0.466 0.306- 0.510 0.56 - 0.65 1.32
0.951 1.095 0.302 0.995 0.921 0.82 1.105 1.61 1.459
N/A N/A 0.404 N/A N/A N/A N/A N/A N/A
1.074 1.243 0.421 0.99 - 1.014 1.457 1.328 0.983 1.73 1.639
0.087 - 0.349 0.484 - 0.524 0.21 - 0.50 0.65 / 0.35
0.112 - 0.352 0.123 - 0.229 0.16 - 0.23 0.0879 0.277
3.083 - 5.507 4.142 - 6.829 3.304 - 5.288 4.865 - 7.932 0.175 - 0.319 0.292 - 0.529 0.311 2.726 1.475 5.170
Basis of Charges in Bangkok, Thailand Unleaded fuel rate is for Gasohol 95. 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 Karachi, Pakistan Fuel : The diesel fuel rate is for High Speed Diesel. : The unleaded fuel rate is for Premier Petrol.
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 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 Brunei Electricity (Domestic) : Tariff effective from 1st Jan 2012. 1-10 kWh 10c, 11-60 kWh 8c, 61-100kWh 12c, above 100kWh 15c
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CONVERSION FACTORS
UNIT LENGTH 10 mm = 1 cm 100 cm = 1 m 1,000 m = 1 km 12 in = 1 ft 3 ft = 1 yd 1,760 yd = 1 mile 1 in 1 ft 1 yd 1 mile
(APPROX)
(APPROX)
= = = =
25.400 mm 30.480 cm 0.914 m 1.609 km
1 cm 1 m 1 m 1 km
= = = =
0.394 in 3.281 ft 1.094 yd 0.621 mile
AREA 10,000 m = 1 ha 100 ha = 1 km2 640 acre = 1 mile2

2
9 ft = 1 yd 4,840 yd2 = 1 acre
1 ft2 1 yd2 1 acre 1 mile2
= = = =
0.093 m2 0.836 m2 0.405 ha 2.590 km2
1 m2 1 m2 1 ha 1 km2
= = = =
10.764 ft2 1.196 yd2 2.471 acres 0.386 mile2
VOLUME 1,000 ml = 1 l (US) 8 pt = (US) 1 gal 1,000 l = 1 m3 (UK) 8 pt = (UK) 1 gal (UK) 1 pt (US) 1 pt (UK) 1 gal (US) 1 gal = = = = 0.568 l 0.473 l 4.546 l 3.785 l (UK) 1 l (US) 1 l (UK) 1 l (US) 1 l = = = = 1.760 pt 2.113 pt 0.220 gal 0.264 gal
MASS 1,000 g = 1 kg 1,000 kg = 1 tonne 16 tael = 1 catty POWER TEMPERATURE

Refer to www.online-unit-converter.com , www.dimensionconverter.com for further information.
16 oz = 1 lb 2,240 lb = 1 ton
1 oz 1 lb 1 ton 1 catty 1 hp
= = = =
28.350 g 0.454 kg 1.016 tonne 0.605 kg
1 gram = 0.035 oz 1 kg = 2.205 lb 1 tonne = 0.984 ton
= 0.746 kw
1 kw
= 1.341 hp
(0F - 32) x 5/9
(0C x 9/5) + 32
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IDD CODES AND TIME DIFFERENCES

LOCATION IDD COUNTRY CODE AREA CODE TIME DIFFERENCE (Hours)* LOCATION IDD COUNTRY CODE AREA CODE TIME DIFFERENCE (Hours)*
Australia: Melbourne Perth Sydney Bahrain Bangladesh (Dhaka) Bhutan (Thimphu) Brunei: Bandar Seri Begawan Kuala Belait Cambodia (Phnom Penh) Canada: Toronto (Metropolitan) Vancouver China: Beijing Guangzhou Hong Kong Macau Shanghai Shenzhen France (Paris) India: Bangalore Chennai New Delhi Mumbai Indonesia: Bali Jakarta Ireland: Cork Dublin Japan: Tokyo Osaka Kazakhstan (Almaty) Korea (Seoul) Korea (Pyongyang) Laos (Vientiane)
61 61 61 973 880 975 673 673 855 1 1 86 86 852 853 86 86 33 91 91 91 91 62 62 353 353 81 81 7 82 850 856
3 8 2 2 2 2 3 23 416 604/250/ 778 10 20 21 755 1 80 44 11 22 361 21 21 1 3 6 727 2 2 21
+3 +1 +3 -5 -2 -2 0 0 -1 -13 -16 0 0 0 0 0 0 -7 -2.5 -2.5 -2.5 -2.5 0 -1 -8 -8 +1 +1 -2 +1 +1 -1
Malaysia: Johor Bahru Kota Kinabalu Kuala Lumpur Kuching Penang Mongolia (Ulaanbaatar) Myanmar (Rangoon) Nepal (Kathmandu) New Zealand: Auckland Wellington Pakistan (Karachi) Philippines (Manila) Qatar Singapore Spain: Barcelona Girona South Africa: Johannesburg Cape Town Sri Lanka (Colombo) Russia (Moscow) Taiwan (Taipei) Thailand: Bangkok Phuket United Arab Emirates: Abu Dhabi Dubai United Kingdom: London Edinburgh USA: Los Angeles New York Vietnam: Ho Chi Minh City Hanoi
60 60 60 60 60 976 95 977 64 64 92 63 974 65 34 34 27 27 94 7 886 66 66 971 971 44 44 1 1 84 84
7 88 3 82 4 11 1 1 9 4 21 2 93 972 11 21 1 495 2 2 76 2 4 20 131 213 212 8 4
0 0 0 0 0 0 -1.5 -2.25 +5 +5 -3 0 -5 0 -7 -7 -6 -6 -2.5 -5 0 -1 -1 -4 -4 -8 -8 -16 -13 -1 -1
Source : www.worldtimeserver.com ; www.worldtimezone.com www.timeanddate.com
As compared to Hong Kong. Allowance should be made for * seasonal time variations. Time differences above as at 1 January.
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PUBLIC HOLIDAYS
2011 HONG KONG The first day of January The day following the first day of January Lunar New Year's Day The 2nd day of Lunar New Year The 3rd day of Lunar New Year Ching Ming Festival Good Friday The day following Good Friday Easter Monday Buddha's Birthday Labour Day The day following Labour Day Tuen Ng Festival HKSAR Establishment Day The day following HKSAR Establishment Day The day following the Chinese Mid-Autumn Festival National Day The day following National Day Chung Yeung Festival Christmas Day The 1st week-day after Christmas Day The 2nd week-day after Christmas Day 01 Jan 03 Feb 04 Feb 05 Feb 05 Apr 22 Apr 23 Apr 25 Apr 10 May 01 May 02 May 06 Jun 01 Jul 13 Sep 01 Oct 05 Oct 25 Dec 26 Dec 27 Dec
2012 CHINA 01 Jan * 02 Jan 23 Jan 24 Jan 25 Jan 04 Apr 06 Apr 07 Apr 09 Apr 28 Apr 01 May 23 Jun 01 Jul @ 02 Jul 01 Oct # 01 Oct # 02 Oct 23 Oct 25 Dec New Year's Day @ Chinese New Year's Eve Chinese New Year Tomb-Sweeping Day Labour Day Dragon-Boat Festival Mid-Autumn Festival National Day
2011
2012
01 Jan 02 Feb 03 Feb 04 Feb 05 Apr 01 May 06 Jun 12 Sep 01 Oct 02 Oct 03 Oct
01 Jan 22 Jan 23 Jan 24 Jan 04 Apr 01 May 23 Jun 30 Sep 01 Oct 02 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. 2 & 3 April are holidays, 31 March and 1 April are working days. 29 & 30 April are holidays, 28 April is working day. 22 & 24 June are holidays. 4 - 7 October are holidays, 29 September is working day.
@
26 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.
(Cont'd)
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PUBLIC HOLIDAYS
2011 MACAU New Year's Day The first working day after New Year's Day Lunar New Year's Eve (Afternoon) Lunar New Year's Day The 2nd day of Lunar New Year rd The 3 day of Lunar New Year Ching Ming Festival Good Friday The day following Good Friday Easter Monday Labour Day The day following Labour Day The Buddha's Birthday The first working day after the Buddha'a Birthday Tuen Ng Festival (Dragon Boat Festival) The first working day after Tuen Ng Festival Bank's Holiday National Day The day following National Day The first weekday following National Day The day following Mid-Autumn Festival Chung Yeung Festival All Soul's Day Feast of the Immaculate Conception The first working day after Feast of Immaculate Conception Macau SAR Establishment Day Winter Solstice Christmas Eve Christmas Day The day following Christmas Day Bank's Holiday New Year's Eve (Afternoon)
@
2012 BRUNEI
2011
2012
01 Jan 02 Feb 03 Feb 04 Feb 05 Feb 05 Apr 22 Apr 23 Apr 25 Apr 01 May 02 May 10 May 06 Jun 01 Jul 01 Oct 02 Oct 03 Oct 13 Sep 05 Oct 02 Nov 08 Dec 20 Dec 22 Dec 24 Dec 25 Dec 26 Dec 27 Dec -
01 Jan
02 Jan 23 Jan 24 Jan 25 Jan 04 Apr 06 Apr 07 Apr @ 09 Apr # 01 May 28 Apr @ 30 Apr # 23 Jun
25 Jun # 02 Jul 01 Oct 02 Oct -
New Year's Day ** Chinese New Year Prophet Muhammad's Birthday ** National Day Royal Brunei Armed Forces Anniversary Israk Mikraj ** His Majesty's Birthday ** First Day of Ramadhan * Anniversary of the Revelation of the Holy Koran * Hari Raya Aidifitri * Hari Raya Aidifitri (2nd Day) * Hari Raya Aidil Adha * & ** First Day of Hijrah * & ** Christmas Day *
01 Jan 03 Feb 15 Feb 23 Feb 31 May 29 Jun 16 Jul 01 Aug 17 Aug 30 Aug 31 Aug 07 Nov 28 Nov 26 Dec
02 23 06 23 31 18 16 21
Jan Jan Feb Feb May Jun Jul Jul
06 Aug 20 Aug 21 Aug 26 Oct 15 Nov 25 Dec
Notes : Fridays and Sundays are government off days * Subject to change ** Replacement for Fridays / Sundays
INDIA New Year's Day Sankranthi Republic Day Good Friday May Day Independence Day Gandhi Jayanthi Karnataka Formation Day Deepavali Christmas Day 01 Jan 14 Jan 26 Jan 22 Apr 01 May 15 Aug 02 Oct 01 Nov 26 Oct 25 Dec 01 Jan 14 Jan 26 Jan 06 Apr 01 May 15 Aug 02 Oct 01 Nov 13 Nov 25 Dec
23 Oct 02 Nov 08 Dec @ 10 Dec # 20 Dec 21 Dec @ 24 Dec 25 Dec 26 Dec 31 Dec #
Not applicable to Banks Special holiday granted by the Chief Executive
(Cont'd)
109
110
PUBLIC HOLIDAYS
2011 INDONESIA New Year's Day Chinese New Year (Imlek) Prophet Muhammad's Birthday Hindu Day of Quiet (Nyepi) Good Friday Waicak Day Ascension Day of Jesus Christ Ascension of Prophet Mohammad * National Independence Day Idul Fitri * Idul Adha Day Hijriyah New Year Christmas Day
* Subject to change
2012 MALAYSIA
2011
2012
01 Jan 03 Feb 15 Feb 05 Mar 22 Apr 17 May 02 Jun 29 Jun 17 Aug 30 Aug 31 Aug 06 Nov 27 Nov 25 Dec
01 Jan 23 Jan 05 Feb 23 Mar 06 Apr 06 May 17 May 17 Jun 17 Aug 19 Aug 20 Aug 26 Oct 15 Nov 25 Dec
New Year's Day ^ Chinese New Year @
Prophet Muhammad's Birthday Labour Day Wesak Day King/Agong's Birthday Hari Raya Aidilfitri * National Day Malaysia Day Hari Raya Qurban * Deepavali * Awal Muharam (Maal Hijrah) Christmas Day
* Subject to change
@
01 Jan 03 Feb 04 Feb 15 Feb 01 May 17 May 04 Jun 30 Aug 31 Aug 31 Aug 16 Sep 06 Nov 26 Oct 27 Nov 25 Dec
01 Jan# 23 Jan 24 Jan 05 Feb# 01 May 05 May 02 Jun 19 Aug 20 Aug# 31 Aug 16 Sep# 26 Oct 13 Nov 15 Nov 25 Dec
JAPAN New Year's Day * Coming of Age Day National Foundation Day * Spring Equinox Day * Day of Showa * Constitution Memorial Day * Greenery Day * Children's Day * Marine Day Respect for Senior Citizens Day Autumnal Equinox Day * Physical Fitness Day Culture Day * Labour Thanksgiving Day * The Emperor's Day * 01 Jan 10 Jan 11 Feb 21 Mar 29 Apr 03 May 04 May 05 May 18 Jul 19 Sep 23 Sep 10 Oct 03 Nov 23 Nov 23 Dec 02 Jan 09 Jan 11 Feb 20 Mar 30 Apr 03 May 04 May 05 May 16 Jul 17 Sep 22 Sep 08 Oct 03 Nov 23 Nov 23 Dec
^ Except Johor, Kelantan, Kedah, Perlis and Terengganu 2nd Day except Kelantan and Terengganu The following day will be an additional holiday
PAKISTAN Kashmir Day Eid-e-Milad-un-Nabi * Pakistan Day Labour Day Independence Day Eid al-Fitr (End of Ramadan) * 05 Feb 16 Feb 23 Mar 01 May 14 Aug 31 Aug 01 Sep 07 Nov 08 Nov 09 Nov 09 Nov 05 Dec 06 Dec 25 Dec 05 Feb 05 Feb 23 Mar 01 May 14 Aug 19 Aug 20 Aug 21 Aug 26 Oct 27 Oct 09 Nov 24 Nov 25 Nov 25 Dec
(Cont'd)
Public Holiday falls on a Sunday, the day following Monday * When is an alternative holiday.
Eid ul-Azha (Feast of the Sacrifice) * Allama Muhammad lqbal Day Ashoura * Quaid-e-Azam's Birthday * Subject to change
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PUBLIC HOLIDAYS
2011 PHILIPPINES A. Regular Holidays New Year's Day Maundy Thursday Good Friday Araw ng Kagitingan Labour Day Independence Day End of Eid-ul-Fitre National Heroes' Day Eid-ul Adha Bonifacio Day Christmas Day Rizal Day B. Special Holidays (Non-Working Holidays) Ninoy Aquino Day All Saint's Day Last Day of the Year SOUTH KOREA New Year's Day Lunar New Year (Seol) 01 Jan 02 Jan 03 Feb 04 Feb 01 Mar 10 May 05 May 06 Jun 15 Aug 03 Oct 11 Sep 12 Sep 13 Sep 25 Dec 01 Jan 21 Apr 22 Apr 09 Apr 01 May 12 Jun 31 Aug 30 Aug 07 Nov 30 Nov 25 Dec 30 Dec
2012 SINGAPORE 01 Jan 05 Apr 06 Apr 09 Apr 01 May 12 Jun 19 Aug 30 Aug 26 Oct 30 Nov 25 Dec 30 Dec New Year's Day Chinese New Year Good Friday Labour Day Vesak Day National Day Hari Raya Puasa Deepavali * Hari Raya Haji Christmas Day
Subject to change. * @
2011
2012
01 Jan 03 Feb 04 Feb 22 Apr 01 May 17 May 09 Aug 30 Aug 26 Oct 06 Nov 25 Dec
01 Jan@ 23 Jan 24 Jan 06 Apr 01 May 05 May 09 Aug 19 Aug@ 13 Nov 26 Oct 25 Dec
The following Monday will be a public holiday.
21 Aug 01 Nov 31 Dec
21 Aug 01 Nov 31 Dec
TAIWAN Founding Day Lunar New Year's Eve Lunar New Year's Day The 2nd day of Lunar New Year The 3rd day of Lunar New Year The 4th day of Lunar New Year The first weekday after Lunar New Year Public Holiday Public Holiday Peace Memory Day Women Day and Children's Day Ching Ming Festival Labour Day Dragon Boat Festival Mid-Autumn Festival Double Ten Day Public Holiday
@
Independent Movement Day Buddha's Birthday Children's Day Memorial Day Liberation Day National Foundation Day Full Moon Day (Chuseok)
Christmas Day
01 Jan 23 Jan 24 Jan 01 Mar 28 May 05 May 06 Jun 15 Aug 03 Oct 29 Sep 30 Sep 01 Oct 25 Dec
01 Jan 02 Feb 03 Feb 04 Feb 05 Feb 06 Feb 07 Feb 28 Feb 04 Apr 05 Apr 01 May 06 Jun 12 Sep 10 Oct -
01 Jan 22 Jan 23 Jan 24 Jan 25 Jan 26 Jan 27 Jan * 27 Feb @ 28 Feb 04 Apr 04 Apr 01 May 23 Jun 30 Sep 10 Oct 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
(Cont'd)
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PUBLIC HOLIDAYS
2011 THAILAND New Year's Day Chinese New Year * Makha Bucha Day Chakri Memorial Day Songkran Festival 03 Jan 03 Feb 18 Feb 06 Apr 13 Apr 14 Apr 15 Apr 02 May 05 May 17 May 13 May 01 Jul 15 Jul 18 Jul 12 Aug 24 Oct 05 Dec 12 Dec 31 Dec
2012 VIETNAM 02 Jan1 23 Jan 07 Mar 06 Apr 13 Apr 14 Apr 15 Apr 16 Apr2 01 May 07 May3 04 Jun 09 May 01 Jul 02 Aug 03 Aug 13 Aug4 23 Oct 05 Dec 10 Dec 31 Dec Normal Scheduled Holidays Solar New Year Lunar New Year
2011
2012
National Labour Day Coronation Day Visakha Bucha Day Royal Ploughing Ceremony Day + Mid Year Bank Holiday @ Asarnha Bucha Day Khao Phansa Day (Buddhist Lent Day) + H.M. The Queen's Birthday Chulalongkorn Day H.M. The King's Birthday Constitution Day New Year's Eve
Hung Vuong King Celebration Liberation Day of Saigon International Labour Day National Day Christmas Day
03 Jan 03 Feb 04 Feb 07 Feb 12 Apr 02 May 03 May 02 Sep 25 Dec
02 Jan* 23 Jan 24 Jan 25 Jan 26 Jan# 02 Apr@ 30 Apr 01 May 03 Sep 25 Dec
Substitute for 1 January 2012 (Sunday) Substitute for 22 January 2012 (Sunday) Substitute for 31 March 2012 (Saturday) Substitute for 02 September 2012 (Sunday)
* #
@
Unofficial Chinese Community only * @
Banks only
+ Government only
1 - 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)
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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
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
Cash flow projections Contractor pre-qualification Preparation of tender documents Negotiation with contractors Contract documents Visiting site and valuation of works in progress
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DLS INFRASTRUCTURE TEAM

Rail viaduct construction Bridge construction Noise mitigation Diaphragm walling and other specialist
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 Services Preparing 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 Advice The team is experienced in working closely with civil and structural engineers to advise on costs for specialist construction techniques such as: foundation and ground treatment works
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.
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 Studies Project-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 realtime cost analysis. Contractual Solutions Independent advice and contractual solutions relating to all aspects of the infrastructure market.
Tunneling in rock and soft ground conditions Underground / Above-ground stations
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DLS INTERIOR FITTING OUT TEAM
The DLS Interior Fitting-Out Team is a dedicated unit within Davis Langdon and Seah which 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.
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:
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
Project objectives are achieved by completing on

time, within the approved cost and to the required quality standards.
Key fitting-out cost drivers and design issues Programme/build-out rates Procurement methods Contractor/trade contractor database
Communications with end-users, client representatives,

stakeholders, other consultants and contractors are maintained throughout the duration of the project.
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DLS PROJECT MONITORING 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 Clients interest by identifying and advising on the risks associated with acquiring an interest in a development that is not under the Clients direct control. The team has the experience and expertise to act as an investigator and advisor to Clients such as:The following aspects of the scheme to be monitored will be checked and appraised as appropriate:-
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 end of the development period;
banks or other financiers where a loan matures at the 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 Diligence Stage 2: Monitoring Initial Due Diligence This comprises a comprehensive audit and examination of the scheme, generally carried out prior to the commencement of the construction on site. 123
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.
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DLS SUSTAINABILITY SERVICES TEAM
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. 2. 3. 4. 5. 6. Site Aspects (SA) Materials Aspects (MA) Energy Use (EU) Water Use (WU) Indoor Environmental Quality (IEQ) Innovations and Additions (IA)
DLS PROJECT MONITORING TEAM

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 Clients 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. 125
There are four levels of award classifications:1. 2. 3. 4. Platinum (Excellent) Gold (Very Good) Silver (Good) Bronze (Above Average)
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DLS SUSTAINABILITY SERVICES TEAM
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. Platinum 2. Gold 3. Silver 4. Certified The following credit categories are applicable to all LEED rating systems:1. 2. 3. 4. 5. 6. 7. 8. Sustainable Sites (SS) Water Efficiency (WE) Energy and Atmosphere (EA) Materials and Resources (MR) Indoor Environmental Quality (IEQ) Innovation in Design (ID) Innovation in Operations (IO) 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 Councils web site http://www.usgbc.org. DLS's Involvement in Sustainability Services DLSs 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 buildings 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.
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DIRECTORY OF OFFICES ASIA PACIFIC CHINA

HONG KONG DAVIS LANGDON & SEAH HONG KONG LIMITED DAVIS LANGDON & SEAH CHINA LIMITED DLS MANAGEMENT LIMITED 38/F Two Landmark East 100 How Ming Street Kwun Tong, Kowloon Hong Kong Tel : (852) 2830 3500 Fax : (852) 2576 0416 Email : dlshk@dlshk.com Website : www.dlsqs.com Contact : Lee Ying Kee, Joseph BEIJING DAVIS LANGDON & SEAH (BEIJING) CONSTRUCTION CONSULTANTS CO. LTD. Suite 1225 - 1238 Junefield Plaza, Central Tower South 10 Xuan Wu Men Wai Street Beijing 100052 China Tel : (86 10) 6310 1136 Fax : (86 10) 6310 1143 Email : dlsbj@dlsbj.com Contact : Chan Chi Keung, Andrew CHENGDU DAVIS LANGDON & SEAH CONSULTANCY (CHENGDU) CO. LTD. Room 807, Block A Times Plaza 2 Zong Fu Road Chengdu, Sichuan Province 610016 China Tel : (86 28) 8671 8373 Fax : (86 28) 8671 8535 Email : dlscd@dlscd.com Contact : Chan Hoi Or, Joe CHONGQING DAVIS LANGDON & SEAH CHINA LIMITED CHONGQING REPRESENTATIVE OFFICE Room 3408, International Trade Centre 38 Qing Nian Road Central District Chongqing City 400010 China Tel : (86 23) 8655 1333 Fax : (86 23) 8655 1616 Email : dlscq@dlscq.com Contact : Chan Hoi Or, Joe / Lin Wai Yip, Gary DALIAN DAVIS LANGDON & SEAH (BEIJING) CONSTRUCTION CONSULTANTS CO. LTD. DALIAN BRANCH Unit 07, 32F, Xiwang Tower 136 Zhongshan Road Zhongshan District Dalian, Liaoning Province 116001 China Tel : (86 411) 8800 8018 Fax : (86 411) 8800 8823 Email : dlsdalian@dlsdalian.com Contact : Ng Kin Kan, Kenn FOSHAN DAVIS LANGDON & SEAH CONSULTANCY (SHENZHEN) CO. LTD. FOSHAN BRANCH Unit 1803 Room 2 18/F Hua Hui Mansion 46 Zu Miao Road Foshan, Guangdong Province 528000 China Tel : (86 757) 8203 0028 Fax : (86 757) 8203 0029 Email : dlsgz@dlsgz.com Contact : Wong Wing Cheng, Jack
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DIRECTORY OF OFFICES ASIA PACIFIC (Cont'd)

GUANGZHOU DAVIS LANGDON & SEAH CONSULTANCY (SHENZHEN) CO. LTD. GUANGZHOU BRANCH Unit 2711 - 2713 & 2718 Bank of America Plaza 555 Ren Min Zhong Road Guangzhou, Guandong Province 510145 China Tel : (86 20) 8130 3813 Fax : (86 20) 8130 3812 Email : dlsgz@dlsgz.com Contact : Wong Wing Cheng, Jack HANGZHOU DAVIS LANGDON & SEAH CONSULTANCY (SHANGHAI) CO. LTD. HANGZHOU BRANCH Room 2305, WinNing International 100 Min Xin Road Hangzhou, Zhejiang Province 310016 China Tel : (86 571) 2829 7766 Fax : (86 571) 2829 7622 Email : dlshz@dlshz.com Contact : Lai Pak Hung MACAU DAVIS LANGDON & SEAH MACAU LIMITED 14 Andar B Edifacio Commercial Rodrigues 599 Avenida da Praia Grande Macau Tel : (853) 2833 1710 Fax : (853) 2833 1532 Email : dlsma@dlsma.com Contact : Chan Yuk Sim, Katherine SANYA DAVIS LANGDON & SEAH CONSULTANCY (SHENZHEN) CO. LTD. SANYA BRANCH 1206 Skyline Tower 119 Yingbin Road Sanya, Hainan Province 572000 China Tel : (86 898) 3828 0878 Fax : (86 898) 3828 0678 Email : dlssz@dlssz.com Contact : Lee Kwok Wing, Dickey SHANGHAI DAVIS LANGDON & SEAH CONSULTANCY (SHANGHAI) CO. LTD. Room 1582, Tower B City Centre of Shanghai 100 Zun Yi Road Shanghai 200051 China Tel : (86 21) 6091 2800 Fax : (86 21) 6091 2999 Email : dlssh@dlssh.com Contact : Lai Pak Hung SHENYANG DAVIS LANGDON & SEAH (BEIJING) CONSTRUCTION CONSULTANTS CO. LTD. SHENYANG BRANCH Room 8-9, 11/F E Tower of Fortune Plaza 59 Beizhan Road Shenhe District Shenyang City, Liaoning Province 110013 China Tel : (86 24) 3128 6678 Fax : (86 24) 3128 6983 Email : dlssy@dlssy.com Contact : Kwok Hiu Larm, Frank / Chow Hau Ming, Simon
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SHENZHEN DAVIS LANGDON & SEAH CONSULTANCY (SHENZHEN) CO. LTD. Room E & F, 42/F World Finance Centre, Block A 4003 East Shennan Road Shenzhen, Guangdong Province 518001 China Tel : (86 755) 8269 0642 Fax : (86 755) 8269 0641 Email : dlssz@dlssz.com Contact : Lo Kwok Chu, Kenneth SUZHOU DAVIS LANGDON & SEAH CONSULTANCY (SHANGHAI) CO. LTD. SUZHOU BRANCH Room 1606, Century Financial Tower 1 Suhua Road, Industrial Park Suzhou, Jiangsu Province 215021 China Tel : (86 512) 8777 5599 Fax : (86 512) 8777 5600 Email : dlssu@dlssu.com Contact : Lai Pak Hung / Zhang Rui TIANJIN DAVIS LANGDON & SEAH CONSULTANCY CO. LTD. TIANJIN BRANCH 4002, 40/F Tianjin World Financial Centre Office Tower 2 Dagubei Road Heping District Tianjin 300020 China Tel : (86 22) 2329 9611 Fax : (86 22) 2319 3186 Email : dlstj@dlstj.com Contact : Wong Chin Ying WUHAN DAVIS LANGDON & SEAH CONSULTANCY (SHANGHAI) CO. LTD. WUHAN BRANCH Room B, 5th Floor 2-1 Building, Wuhan Tiandi 68 Lu Gou Qiao Road Wuhan City, Hubei Province 430010 China Tel : (86 27) 5920 9299 Fax : (86 27) 5920 9298 Email : dlswh@dlswh.com Contact : Lee Kwok Wing, Dickey
BRUNEI
BANDAR SERI BEGAWAN DAVIS LANGDON & SEAH JURUUKUR BAHAN UTAMA - DLS Unit 25, BT Complex, Kg. Jaya Setia Mukim Berakas 'A' BB2713 Bandar Seri Begawan BS8670 Negara Brunei Darussalam GPS : 4.9394, 114.9377 Tel : (673) 233 2833 Fax : (673) 233 2933 Email : dlsbsb@dls.com.bn Contact : Shafie Yusof / Justin Teoh KUALA BELAIT PETROKON UTAMA SDN BHD 3rd Floor, Hong Kong Bank Chambers Jalan McKerron P.O. Box 811 Kuala Belait KA1131 Negara Brunei Darussalam Tel : (673) 333 5718 Fax : (673) 333 5717 Email : pusbkb@pusbbrunei.com.bn Contact : Shafie Yusof
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INDIA
BANGALORE DAVIS LANGDON & SEAH CONSULTING INDIA PVT. LTD. 3rd Floor, Raheja Chancery No. 133 Brigade Road Bangalore 560025 India Tel : (91 80) 4123 9141 Fax : (91 80) 4123 8922 Email : dlsindia@dls.co.in Contact : Jim Pollock / Lorimer Doig / Velan Murali / Biju AK CHENNAI DAVIS LANGDON & SEAH CONSULTING INDIA PVT. LTD. New No. 125 (Old No. 63) Jammi Building, 1st Floor Royapettah High Road Mylapore Chennai 600004 India Tel : (91 44) 2498 8141 Fax : (91 44) 2498 8137 Email : dlsindia@dls.co.in Contact : Jim Pollock / Lorimer Doig / Sankar Ramakrishnan DELHI DAVIS LANGDON & SEAH CONSULTING INDIA PVT. LTD. The Elements 2nd Floor, Unit No. 465 Udyog Vihar, Phase-V Gurgaon, Haryana 122016 India Tel : (91 124) 4430 8790 Fax : (91 124) 4430 8793 Email : dlsindia@dls.co.in Contact : Jim Pollock / Lorimer Doig / Arun Basu
HYDERABAD DAVIS LANGDON & SEAH CONSULTING INDIA PVT. LTD. 2nd Floor, Trade Fair Office Hitex Exhibition Center Izzat Nagar Hyderabad 500084 India Tel : (91 40) 2311 4942 Fax : (91 40) 2311 2942 Email : dlsindia@dls.co.in Contact : Jim Pollock / Lorimer Doig / Ramamurthi Karthikeyan MUMBAI DAVIS LANGDON & SEAH CONSULTING INDIA PVT. LTD. 1204/5/6, Maithili's Signet Plot No. 39/4, Sector No. 30A Vashi Navi Mumbai 400703 India Tel : (91 22) 4156 8686 Fax : (91 22) 4156 8615 Email : dlsindia@dls.co.in Contact : Jim Pollock / Lorimer Doig / Darshan Joshi PUNE DAVIS LANGDON & SEAH CONSULTING INDIA PVT. LTD. Office No. 02/A, 'Arvind Apartment' First Floor, CTS 1130/31, Survey No. 93 Fergusson College Road Near Dyaneshwar Paduka Chowk Shviagnagar Pune 411005 India Tel : (91 20) 2551 4980 Contact : Lorimer Doig
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INDONESIA
JAKARTA P.T. DAVIS LANGDON & SEAH INDONESIA Level 18 Ratu Plaza Office Tower Jalan Jenderal Sudirman 9 Jakarta 10270 Indonesia Tel : (62 21) 739 7550 Fax : (62 21) 739 7846 Email : dlsjkt@dls.co.id Contact : Peter Robinson / Stephen Osborne BALI P.T. DAVIS LANGDON & SEAH INDONESIA Jalan Sunset Road No. 8C Lingkungan Abian Base Bali 80361 Indonesia Tel : (62 361) 894 7517 Fax : (62 361) 894 7392 Email : dlsbali@dls.co.id Contact : Ir. Putu Arya Canti
JOHOR DAVIS LANGDON & SEAH (MALAYSIA) SDN BHD JURU UKUR BAHAN MALAYSIA JUBM SDN BHD DLS PROJEKS SDN BHD 47 Jalan Setia Tropika 1/30 Taman Setia Tropika 81200 Johor Bahru Johor Darul Takzim Malaysia Tel : (60 7) 232 8300 Fax : (60 7) 232 8232 Email : jubmjb@dlsjubm.com.my Contact : Syed Mahadzir Syed Ahmad PENANG DAVIS LANGDON & SEAH (MALAYSIA) SDN BHD JURU UKUR BAHAN MALAYSIA JUBM SDN BHD DLS PROJEKS SDN BHD Suite 3A-3, Level 3A Wisma Great Eastern No. 25, Lebuh Light 10200 Penang Malaysia Tel : (60 4) 264 2071 / 264 2072 / 264 2073 Fax : (60 4) 264 2068 Email : penangoffice@dlsjubm.com.my Contact : Mohd Faiz Awang SABAH DAVIS LANGDON & SEAH (MALAYSIA) SDN BHD JURU UKUR BAHAN MALAYSIA JUBM SDN BHD DLS PROJEKS SDN BHD Suite 8A, 8th Floor, Wisma Pendidikan Jalan Padang P.O. Box 11598, 88817 Kota Kinabalu Sabah Malaysia Tel : (60 88) 223 369 Fax : (60 88) 216 537 Email : jubmkk@dlsjubm.com.my Contact : Ang Kun Eng
MALAYSIA
SELANGOR DAVIS LANGDON & SEAH (MALAYSIA) SDN BHD JURU UKUR BAHAN MALAYSIA JUBM SDN BHD DLS PROJEKS SDN BHD 2, Jalan PJU 5/15 Kota Damansara 47810 Petaling Jaya Selangor Darul Ehsan Malaysia Tel : (60 3) 6156 9000 Fax : (60 3) 6157 8660 Email : info@dlsjubm.com.my Contact : Loo Ming Chee / Mohd Ali Abd Karim / Justin Teoh / Mohd Faiz Awang / Nur Aziz Abu Bakar
(Cont'd)
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SARAWAK JUBM SDN BHD No. 2 (3rd Floor), Jalan Song Thian Cheok 93100 Kuching Sarawak Malaysia Tel : (60 82) 232 212 Fax : (60 82) 232 198 Email : kuching@dlsjubm.com.my Contact : Nor Azman Bin Baharum
SINGAPORE
PAKISTAN
KARACHI DAVIS LANGDON & SEAH PAKISTAN (PRIVATE) LIMITED 18C, Nishat Commercial Lane 4 Khayaban-e-Bukhari, Phase 6, DHA Karachi 75500 Pakistan Tel : (92 21) 3524 0191-94 Fax : (92 21) 3524 0195 Email : info@dls.com.pk Contact : Nur Aziz Abu Bakar / Zaharudin Yusof
DAVIS LANGDON & SEAH SINGAPORE PTE LTD DAVIS LANGDON & SEAH PROJECT MANAGEMENT PTE LTD DLS CONTRACT ADVISORY & DISPUTE MANAGEMENT SERVICES 1 Magazine Road #05-01 Central Mall Singapore 059567 Tel : (65) 6222 3888 Fax : (65) 6224 7089 Email : dlssp3@dls.com.sg Contact : Jim Pollock / Goh Chok Sin / Eugene Seah
SOUTH KOREA
SEOUL DAVIS LANGDON & SEAH KOREA CO LTD #429 G-Five Central Plaza 1685-8 Seocho 4-Dong Seocho-Gu Seoul 137-882 Korea Tel : (82 2) 543 3888 Fax : (82 2) 543 3898 Email : dlsk@dlskorea.com / DLSKorea@dls.com.sg Contact : Goh Chok Sin / Victor Stanger
PHILIPPINES
MANILA DAVIS LANGDON & SEAH PHILIPPINES INC 4th & 7th Floor, Kings Court 1 2129 Pasong Tamo Makati City 1231 Philippines Tel : (63 2) 811 2971 Fax : (63 2) 811 2071 Email : manila@dls.com.ph Contact : Alan Philip Hearn
THAILAND
BANGKOK DAVIS LANGDON & SEAH (THAILAND) LTD LECE (THAILAND) CO LTD 10th Floor, Kian Gwan Building II 140/1 Wireless Road Lumpinee, Pratumwan Bangkok 10330, Thailand Tel : (66 2) 253 1438, 651 4120-2 Fax : (66 2) 253 4977 Email : general@dls.co.th Contact : Leong Choong Peng / Ang Yen Kooi / Wong Soon Bin
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(Davis Langdon & Seah collaborates with Davis Langdon in Europe, Middle East, Africa, USA, Australia and New Zealand)
AFRICA
VIETNAM
HANOI DAVIS LANGDON & SEAH VIETNAM CO LTD 4th Level Thanh Dong Building 132-138 Kim Ma Street Ba Dinh District Hanoi Vietnam Tel : (844) 3942 7525 Fax : (844) 3942 7526 Email : dlsvietnam@dls.com.sg Contact : Mark Olive HO CHI MINH CITY DAVIS LANGDON & SEAH VIETNAM CO LTD 9th Level, Unit E-VTP Building 08 Nguyen Hue, District 1 Ho Chi Minh City Vietnam Tel : (848) 3823 8297 Fax : (848) 3823 8197 Email : dlsvietnam@dls.com.sg Contact : Mark Olive
SOUTH AFRICA
JOHANNESBURG (PARKTOWN) DAVIS LANGDON DAVIS LANGDON SCHUMANN SMITH DAVIS LANGDON BUILDING SERVICES DAVIS LANGDON PROJECT MANAGEMENT 2nd Floor, Citibank Plaza Building 145 West Street Sandton 2196 Johannesburg South Africa Tel : (27 11) 666 2000 Fax : (27 11) 650 0711 Email : info@davislangdon.co.za Contact : Indresen Pillay Also at : Bloemfontein, Cape Town, Durban, Gaborone (Botswana), George, Klerksdorp, Maputo (Mozambique), Nelspruit, Nigeria, Pietermaritzburg, Port Elizabeth, Pretoria and Stellenbosch
EGYPT
CAIRO DAVIS LANGDON EGYPT LLC Ground Floor, Corner Road 23 El Sharifa Dina Street Building 13, Maadi Helwan Egypt Tel : (20 2) 2750 8145 Fax : (20 2) 2750 8146 Email : cairooffice@davislangdon.com Contact : Kevin Sims / Chris du Toit
(Cont'd)
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DIRECTORY OF OFFICES AUSTRALASIA EUROPE
AUSTRALIA
MELBOURNE DAVIS LANGDON Level 45 80 Collins Street Melbourne Victoria 3000 Australia Tel : (61 3) 9933 8800 Fax : (61 3) 9933 8801 Email : melb@davislangdon.com.au Contact : Bob Hunt Also at : Adelaide, Brisbane, Cairns, Canberra, Darwin, Hobart, Perth, Sydney and Townsville
GERMANY
MUNICH DEGW (PART OF DAVIS LANGDON) Heimeranstrasse 37 80339 Munich Germany Tel : (49 89) 452 3383-0 Fax : (49 89) 452 3383-99 Email : apraus@degw.com Contact : Axel Praus
IRELAND
DUBLIN DAVIS LANGDON 24 Lower Hatch Street Dublin 2 Ireland Tel : (353 1) 676 3671 Fax : (353 1) 676 3672 Email : dlpks@dlpks.ie Website : www.dlpks.ie Contact : Norman Craig Also at : Cork, Galway and Limerick
NEW ZEALAND
AUCKLAND DAVIS LANGDON NEW ZEALAND LTD Level 10 Citigroup Centre 23 Customs Street East P.O. Box 935 Auckland 1140 New Zealand Tel : (64 9) 379 9903 Fax : (64 9) 309 9814 Email : auck@davislangdon.co.nz Contact : Chris Sutherland Also at : Christchurch and Wellington
ITALY
MILAN DEGW (PART OF DAVIS LANGDON) Via Lombardini, 22 20143 Milano Italia Tel : (39 02) 5410 1343 Fax : (39 02) 5990 2213 Email : fguidi@degw.com Contact : Franco Guidi
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DIRECTORY OF OFFICES EUROPE (Cont'd)
NETHERLANDS
AMSTERDAM DEGW (PART OF DAVIS LANGDON) Herengracht 124 - 128 1015 BT Amsterdam Netherlands Tel : (31 6) 5364 8131 Email : slardot@degw.com Contact : Salla Lardot
SPAIN
MADRID DAVIS LANGDON Calle Serrano 98-2nd Floor 28006 Madrid Spain Tel : (34 91) 431 0290 Fax : (34 91) 576 9221 Email : jon.blasby@davislangdon.com Contact : Jon Blasby
UNITED KINGDOM
LONDON DAVIS LANGDON DAVIS LANGDON BANKING TAX & FINANCE DAVIS LANGDON ENGINEERING SERVICES DAVIS LANGDON SCHUMANN SMITH SPECIFICATION CONSULTING DEGW (PART OF DAVIS LANGDON) MidCity Place 71 High Holborn London WC1V6QS United Kingdom Tel : (44 20) 7061 7000 Fax : (44 20) 7061 7061 Email : jeremy.horner@davislangdon.com Website : www.davislangdon.com Contact : Jeremy Horner Also at : Birmingham, Bristol, Cambridge, Cardiff, Edinburgh, Glasgow, Heathrow, Leeds, Liverpool, Maidstone, Manchester, Norwich, Oxford, Peterborough, Plymouth and Southampton
MIDDLE EAST
BAHRAIN
MANAMA DAVIS LANGDON Al Saffar House Unit 22B, Building No. 1042 Block 436, Road 3621 Seef District P.O. Box 640 Manama, Kingdom of Bahrain Tel : (973 17) 588 796 Fax : (973 17) 581 288 Email : bahrainoffice@davislangdon.com Contact : Donn O'Shaughnessy
LEBANON
BEIRUT DAVIS LANGDON LEBANON 1st Floor, Chatilla Building Australia Street Rawche, Shouran P.O. Box 13-5422 - Shouran Beirut, Lebanon Tel : (961 1) 780 111 Fax : (961 1) 809 045 Email : beirutoffice@davislangdon.com Contact : Muhyiddin Itani
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DIRECTORY OF OFFICES MIDDLE EAST (Cont'd) NORTH AMERICA
QATAR
DOHA DAVIS LANGDON Salwa Commercial Complex Building 1st Floor, Behind Al Seal Building Salwa Road P.O. Box 3206 Doha State of Qatar Tel : (974) 4458 0150 Fax : (974) 4469 7905 Email : dohaoffice@davislangdon.com Contact : Steven Humphrey
UNITED STATES OF AMERICA

LOS ANGELES DAVIS LANGDON 301 Arizona Avenue Suite 301 Santa Monica CA 90401, USA Tel : (1 310) 393 9411 Fax : (1 310) 393 7493 Email : nbutcher@davislangdon.us Contact : Nicholas Butcher Also at : Boston, Denver, Honolulu, Houston, New York, Philadelphia, Sacramento, San Francisco, Seattle and Washington DC
UNITED ARAB EMIRATES (UAE)

ABU DHABI DAVIS LANGDON Al Jazira Sports and Cultural Club Murooj Road, 4th Street P.O. Box 43266 Abu Dhabi United Arab Emirates Tel : (971 2) 414 6000 Fax : (971 2) 414 6001 Email : steven.coates@davislangdon.com Contact : Steven Coates
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TELEPHONE DIRECTORY
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 3791 Buildings Department 2626 1616 Census and Statistics Department 2582 4807 Civil Engineering and Development Department 2762 5111 Customs and Excise Department 2815 7711 Drainage Services Department 2877 0660 Electrical and Mechanical Services Department 1823 Environmental Protection Department 2594 6308 Fire Services Department 2311 0066 Government Laboratory 2762 3700 Government Property Agency 2594 7604 Highways Department 2926 4111 Housing Department 2712 2712 Labour Department 2717 1771 Lands Department 2231 3294 Planning Department 2231 5000 Rating and Valuation Department 2152 0111 Water Supplies Department 2824 5000
Refer to http://tel.directory.gov.hk for further information.
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38/F Two Landmark East 100 How Ming Street, Kwun Tong, Kowloon, Hong Kong Tel: (852) 2830 3500 Fax: (852) 2576 0416 Email: dlshk@dlshk.com Website: www.dlsqs.com

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

ISO 9001 : 2008 Certificate No. : CC271

Table of Contents About Us Quality Management System Calendars

1. CONSTRUCTION COST DATA

2. GENERAL CONSTRUCTION DATA

DAVIS LANGDON & SEAH

QUALITY MANAGEMENT SYSTEM

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

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

APRIL MAY JUNE S M T W T F S S M T W T F S S M T W T F S

JULY AUGUST SEPTEMBER S M T W T F S S M T W T F S S M T W T F S

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

OCTOBER NOVEMBER DECEMBER S M T W T F S S M T W T F S S M T W T F S

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

JANUARY FEBRUARY MARCH S M T W T F S S M T W T F S S M T W T F S

JANUARY FEBRUARY MARCH S M T W T F S S M T W T F S S M T W T F S

OCTOBER NOVEMBER DECEMBER S M T W T F S S M T W T F S S M T W T F S

OCTOBER NOVEMBER DECEMBER S M T W T F S S M T W T F S S M T W T F S

CONSTRUCTION COST DATA

CONSTRUCTION COSTS FOR HONG KONG

CONSTRUCTION COSTS FOR HONG KONG

1,045 - 2,455 - 3,325 - 2,255 - 2,455 -

1,350 3,320 4,220 2,860 3,610

1. CONSTRUCTION COST DATA

15,070 - 16,630 21,470 up

4,930 - 5,700 5,330 - 6,550

20,000 - 22,330 26,800 up

6,980 - 7,410 7,640 - 8,590

1,750 - 2,330 2,000 - 2,580

8,730 - 9,740 9,640 - 11,170

1,300 - 2,050 - 3,000 - 3,150 - 5,350 -

2,050 2,850 3,950 3,950 6,900

M&E COSTS FOR HONG KONG

M&E COSTS FOR HONG KONG

75 - 120 75 - 120 75 - 120 55 - 110 55 - 110

200 - 250 330 - 550 450 - 650 - - - -

320 - 550 - 650 - 500 - 500 -

430 750 850 600 600

1. CONSTRUCTION COST DATA

800 - 900 4,930 - 5,700 850 - 1,050 5,330 - 6,550

1. CONSTRUCTION COST DATA

ACMV COSTS FOR VARIOUS DESIGNS AND DEVELOPMENTS IN HONG KONG

1. CONSTRUCTION COST DATA

CONSTRUCTION COST SPECIFICATION FOR HONG KONG

1. CONSTRUCTION COST DATA

FIT-OUT COSTS FOR HONG KONG

General department store 7,600 - 11,500 Prestige department store

12,000 - 16,000 17,000 up 6,000 - 7,400 7,500 - 10,000

General office Executive office Prestige office

4,800 - 7,400 7,500 - 10,500

1. CONSTRUCTION COST DATA

UNIT COSTS FOR ANCILLARY FACILITIES FOR HONG KONG

Outdoor playground equipment comprising various activities.

CONSTRUCTION COSTS FOR SELECTED ASIAN CITIES

1,096 822 658 987

776 528 560 993

622 439 525 605

760 780 480 500 440 470 800 1,000

CONSTRUCTION COSTS FOR SELECTED ASIAN CITIES

1. CONSTRUCTION COST DATA

+ Rates are exclusive of contingencies.

CONSTRUCTION COSTS FOR SELECTED ASIAN CITIES (Cont'd)

2,400 2,040 1,680 2,760

962 317 463 1,070