december 2012

hong kong REPoRT

QUARTERLY ConSTRUCTIon CoST UPDATE

AmericAsCANADACalgary

CARIBBEANBarbadosGrand Cayman

USABoiseBostonDenverHagåtñaHiloHonoluluKennewickLas VegasLos AngelesMonroeNew YorkOrlandoPhoenixPortlandSan FranciscoSeattleTucsonWaikoloaWashington DC

AsiACHINABeijingChengduChongqingDalianGuangzhouGuiyangHaikouHangzhouHong KongMacauNanjingQingdaoShanghaiShenyangShenzhenTianjinWuhanWuxiXianZhuhai

INDIAMumbai

INDONESIAJakarta

MALAYSIAKota KinabaluKuala Lumpur

PHILIPPINESCebuDavaoManila

SINGAPORESingapore

SOUTH KOREASeoul

THAILANDBangkok

VIETNAMHo Chi Minh City

emeAMIDDLE EASTAbu DhabiDohaDubaiMuscatRiyadh

UKBirchwood/WarringtonBirminghamBristolLondonManchesterNewcastleSheffieldWelwyn Garden CityWokingham

EUROPERLB|EuroAllianceAustriaBelgiumBulgariaCzech RepublicEstoniaFranceGermanyGreeceHungaryIrelandItalyKazakhstanLatviaLuxembourgMaltaNetherlandsNorwayPolandPortugalRomaniaRussiaSlovakiaSloveniaSpainSwedenSwitzerlandTurkeyUkraine

OceANiAAUSTRALIAAdelaideBrisbaneCairnsCanberraDarwinGold CoastMelbourneNewcastleNorthern NSWPerthSunshine CoastSydneyTownsvillaWestern Sydney

NEW ZEALANDAucklandChristchurchOtagoPalmerston NorthTaurangaWellington

Offices ArOuNd the wOrld

1

COST COMMENTARY

REviEw Of TENdER pRiCE MOvEMENTS iNHONg KONgAccording to Rider Levett Bucknall’s Tender Price Index, which measures tender price movements of builder’s works in the private sector in Hong Kong, there was an increase of 1.5% in tender prices in the third quarter of 2012. On a year-on-year basis, the increase was 7.8%.

The following are the third quarter year-on-year tender price movements of builder’s works in the private sector in the past five years:

Hong Kong’s economy grew by 1.3% year-on-year in real terms in the third quarter of 2012, compared with the 1.2% increase in the second quarter of 2012. According to the Composite Consumer Price Index, overall consumer prices rose by 3.8% in October 2012 over the same month a year earlier. The seasonally adjusted unemployment rate was 3.4% in August to October 2012 which was slightly higher than that recorded in July to September 2012.

The Eurozone sovereign debt crisis does not appear to have been resolved, while it has not been further worsened either. The economy in the United States has exhibited some signs of recovery. On the contrary, China’s economy has been growing at the slowest pace in a decade. Material prices globally and regionally have remained stable. Locally, the construction industry has been dominated by large infrastructure projects and government’s capital works, and the level of construction output is expected to maintain at its peak for at least two to three years. The shortage of skilled labour and construction professional staff will therefore remain a major concern. With abundant job prospects in both the public and private sectors, contractors have continued to be selective in bidding for building projects that are complicated or having many site or programme restrictions especially when there are also opportunities in Macau. Tender prices are therefore expected to continue to rise throughout 2013.

MACAUAccording to the Statistics and Census Service of the Macau govern-ment, Gross Domestic Product for the third quarter of 2012 rose by 5.1% year-on-year in real terms, compared with the 7.8% growth in the second quarter of 2012. The unemployment rate for August to October 2012 was 1.9%, down by 0.1% from the previous period. The average daily wage of construction workers was MOP556 in the third quarter of 2012, an increase of 0.8% on a quarter-to-quarter basis. The average daily wages of skilled and semi-skilled workers rose by 0.9% to MOP562 and that of unskilled workers increased by 3.4% to MOP364. Construction works for the new phases of several casino and resort complexes amounting to more than 2 million square metres have commenced and are targeted to be completed within the coming three years. The shortage of skilled construction workers has been the key driver behind the increase in con-struction costs in 2012. Macau will definitely be competing with Hong Kong for resources in the next two years. In 2013, the increase in tender prices in Macau is likely to be higher than that in Hong Kong.

MAiNlANd CHiNAThe year-on-year growth in Gross Domestic Product in China was 7.7% in the third quarter of 2012, further moderating from the second quarter of 2012’s increase of 7.8% and was the slowest growth rate in recent years. The Consumer Price Index rose by 1.7% year-on-year in October 2012. On average from January to October, the overall consumer prices were up by 2.7% over the same period of the previous year. China’s economy is expected to grow faster in 2013 while maintaining the key principle of policy stability and continuity. The property market is likely going to show some signs of rebound which will probably lead to an increase in property investment and a knock on effect on construction activities. Overall, material prices will remain relatively stable while there will be mild increase in labour costs. Tender prices are therefore expected to rise only moderately in 2013

2007 - 2008 2008 - 2009 2009 - 2010 2010 - 2011 2011 - 2012

+21.5% -13.1% +8.0% +10.0% +7.8%

Disclaimer:

While the information in this

publication is believed to be correct at the time

of publishing, no responsibility is accepted

for its accuracy. Persons desiring to utilize

any information appearing in the publication

should verify its applicability to their specific

circumstances. Cost information in this

publication is indicative and for general guidance

only and is based on rates at 3rd Quarter 2012.

YEARS IN HONG KONGSINCE 1962

HONg KONgREpORT

dECEMbER 2012

2

TENdER pRiCE iNdiCES iN

HONg KONg

TENdER pRiCE iNdiCES

2150

1950

1750

1550

1350

1150

950

750

550

350 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 3 1 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13

Quarter / YearGraph showing cost trends in the construction industry in Hong Kong based on Tender Prices for Builder’s Works

Rlb = Rider levett bucknall (private Sector)ASd = Architectural Services department (public Sector)

2150

1950

1750

1550

1350

1150

950

750

550

350

RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD RLB ASD Quarter 1968 1969 1970 1971 1972 1973 1974 1975 1976 1977 1978 1979

1 104 160 100 210 140 238 144 258 160 345 206 275 145 221 150 270 164 320 203 460 262 2 112 173 106 222 143 236 146 275 167 345 213 258 145 238 153 270 174 350 208 500 285 3 130 185 124 230 144 238 158 300 190 318 203 243 137 255 153 273 185 380 230 535 304 4 100 148 198 131 238 143 245 158 325 199 290 191 228 140 263 149 300 201 420 238 550 329

1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991

1 570 347 620 389 630 364 560 298 570 328 560 326 605 376 665 385 785 479 960 542 1020 574 1090 608 2 570 353 620 393 620 370 560 298 570 332 555 335 615 392 690 403 820 510 960 548 1030 561 1075 592 3 600 369 630 375 600 342 540 317 570 323 565 344 630 373 700 411 865 521 985 552 1045 582 1075 573 4 610 381 630 376 580 327 560 326 560 337 585 351 655 380 740 438 925 541 1000 559 1080 596 1055 515

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003

1 1035 531 1025 527 1100 586 1280 708 1400 772 1575 902 1800 1103 1660 1024 1510 959 1400 862 1270 687 1205 720 2 1020 548 1045 527 1125 594 1330 712 1430 813 1660 953 1765 1054 1640 1031 1440 873 1390 842 1240 742 1230 723 3 1020 519 1075 541 1160 615 1360 733 1485 848 1760 996 1695 1065 1620 1025 1435 858 1360 807 1210 692 1195 722 4 1030 518 1080 563 1220 666 1370 747 1520 885 1810 1051 1675 1034 1600 989 1410 844 1290 721 1185 733 1210 681

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

1 1255 685 1260 711 1300 714 1440 821 1680 1118 1630 1074 1670 1134 1840 1273 1995 1414 2 1265 712 1270 716 1310 730 1475 859 1810 1305 1605 983 1730 1161 1870 1320 2045 1438 3 1230 704 1275 718 1360 751 1535 906 1865 1401 1620 1111 1750 1249 1925 1369 2075 4 1220 701 1280 697 1410 789 1595 998 1750 1262 1655 1107 1785 1266 1955 1408

3

COMMON UNiT RATES iN

HONg KONg

Notes:

- The unit rates above are for general guidelines of likely tendered rates obtained by competitive tendering for lump sum fixed price contracts with a normal contract period.

- The rates are also based on normal site conditions, locations and normal working hours.

Description

Average Rates in HK$

Unit 4Q2011 1Q2012 2Q2012 3Q2012

Reinforced concrete Grade 40 m3 1,210.00 1,220.00 1,230.00 1,240.00

Sawn formwork m2 245.00 250.00 260.00 275.00

Deformed high yield steel bar reinforcement kg 10.80 10.90 10.90 10.70

105 mm Solid concrete block wall m2 183.00 187.00 192.00 195.00

Mastic asphalt roofing overall 20 mm thick (2-coat work) m2 128.00 131.00 134.00 136.00

on horizontal surfaces

20 mm (Finished) Timber strip flooring including plywood m2 576.00 588.00 600.00 610.00

sub-floor, sanding and wax polishing

Timber skirting 100 mm high x 13 mm thick m 78.00 79.00 81.00 82.00

50 mm Solid core flush door faced both sides with 5 mm No. 5,100.00 5,200.00 5,300.00 5,400.00

timber veneered plywood including door frame, architrave,

mouldings and painting (excluding ironmongery)

Galvanised mild steel in balustrades, railings and general welded kg 36.00 36.50 37.00 37.00

and framed work

Structural steelwork - standard sections kg 37.00 37.50 37.50 37.50

Fluorocarbon coated aluminium windows - frame and hardware m2 2,140.00 2,180.00 2,230.00 2,260.00

including clear float glass and glazing (single-glazed windows)

20 mm Cement and sand (1:3) paving m2 59.00 60.00 61.00 62.00

Coloured unglazed ceramic mosaic floor tiling m2 213.00 217.00 222.00 225.00

Marble slab flooring (mid-range, European origin) m2 2,810.00 2,870.00 2,940.00 2,980.00

Two coat internal lime cement plaster to soffit and beams m2 86.00 87.00 89.00 90.00

Metal panel suspended ceiling m2 590.00 600.00 615.00 625.00

Ceramic / homogeneous wall tiling; internal work m2 490.00 495.00 505.00 510.00

Ceramic mosaic external wall tiling; adhesive fixed m2 346.00 350.00 359.00 365.00

(45 x 45 or 45 x 95 mm tiles)

Alkali resistant primer and two coats of emulsion paint m2 44.00 45.00 46.00 47.00

on plastered walls and ceilings

YEARS IN HONG KONGSINCE 1962

HONG KONGREPORT

dEcEmbER 2012

4 5

• OtherSpecificExclusions其它不包括項目: HOtEl酒店: pre-opening expenses, operating expenses, working capital, staff training and administrativecosts開幕前費用、營運費用、開辦費、員工培訓及行政費等。 SHOppingCEntrE商場 :fitouttotenantareas租戶之裝修工程。 induStrial; landlOrd厂房 (租用): security system, air conditioning, electrical distribution in tenantareas;productionandwarehousingequipment;specialM&Eprovisions保安、空調、租戶內 之電器布線、生產及倉庫裝備，特別機電配套等。 prOjECtSinSElECtEdCitiESinCHina中國主要城市:utilitiestothesitebeyondsiteboundary, connection charges and capital contribution; local authority levies and taxation; import duties 工地外之主幹線、接駁費、增容費、當局行政費用、稅項、入口稅。

NOTES 註：

• theconstructioncosts abovearebasedonpricesobtainedbycompetitive tendering for lump sumfixedpricecontractswithanormalcontractperiodandarebasedonnormalsiteconditions andlocations.以上單方造价指標按競投价格下之包干合約編制，并按正常工期、工地狀況等為准。

• thecostsareaveragesquaremetreunitcostsonlynotbasedonanyspecificdrawings/design. therefore they provide nothing more than a rough guide to the probable cost of a building. Figuresoutsidethegivenrangesmaybeencountered.Wheninformationisrequiredonaspecific project, it is essential that professional advice be sought.平均單方造價並不是參考圖紙或設計而編 制。只可作為建築造價之約算，亦可能出現範圍外之單價。若有特定之工程資料，理應參考專業顧問之意見。

• thestandardsforeachtypeofbuildinginselectedcitiesinChinadonotnecessarilyfollowthose inHongKongduetolocaldesignpracticesandchoiceofmaterials.中國各城市之建築標準、採納之 物料均有所不同，並不需要與香港單價作比較。

• thebuildingcostsexcludefurniture,fittingsandequipment(excepthotel/servicedapartment/clubhouse), siteformationandexternalworks,financeandlegalexpenses,consultants’feesandreimbursables,valueof landandfluctuationsinpricesbetweenthepricedateasspecifiedaboveandthetimeofcallingtenders. 建築物單價並不包括家具及設備 (酒店/服務式住宅/會所除外)、工地平整、室外工程、財務、法律、顧問公司等專業 費用，地价及由此單價生效日至投標時間之價格或匯率變動。

• Construction floor areas are measured to the outside face of external walls (or in the absence of such walls, the external perimeter) of the building and include all lift shafts, stairwells and E&M rooms but exclude lightwells and atrium voids. these areas are usually larger than architect’s calculation of gross Floor area (plot ratio area).建築面積乃量度至建築物外牆外面 (若無外牆，則量度至邊周界)，並包括電 梯井、樓梯井、機電間，但不包括光井及大堂上部空間。此等面積通常會大於建築師計算之面積 (容積率面積)。

建筑物种類 香港 澳門 北京 成都 廣州 上海 深圳 天津 武漢 無錫 西安 珠海 Type of Building Hong Kong Macau Beijing Chengdu Guangzhou Shanghai Shenzhen Tianjin Wuhan Wuxi Xian Zhuhai HK$ MOP RMB RMB RMB RMB RMB RMB RMB RMB RMB RMB

Office 辦公樓

High Quality 高檔次 17,400-23,700 13,600- 19,100 6,800 - 10,500 6,100 - 9,300 6,500 -10,100 6,800 - 10,200 6,500 - 9,900 6,500- 10,100 6,100 - 9,300 6,700 - 10,300 6,100 -9,100 6,100 - 9,300

medium Quality 中檔次 14,400- 17,500 11,500- 14,000 5,300 - 7,200 4,700 - 6,500 4,800 -6,800 5,200 - 7,200 4,750 - 6,700 4,850- 6,900 4,700 - 6,500 5,200 - 7,100 4,600 -6,600 4,700 - 6,500

Ordinary Quality 普通檔次 12,500- 15,500 9,100- 12,000 3,800 - 5,300 3,450 - 4,600 3,600 -4,850 3,800 - 5,000 3,550 - 4,750 3,650- 5,000 3,450 - 4,600 3,750 - 5,100 3,400 -4,450 3,400 - 4,600

Shopping Centre商場

High Quality 高檔次 23,700-28,300 18,900- 23,300 7,700 - 12,000 6,800 - 10,500 7,300 -11,100 7,600 - 11,700 7,200 - 11,000 n/a n/a n/a n/a n/a

medium Quality中檔次 18,000-21,600 n/a 6,100 - 7,600 5,400 - 6,800 5,800 -7,100 6,000 - 7,600 5,700 - 7,000 n/a n/a n/a n/a n/a

Residential 住宅

High Rise; High Quality 高層; 高檔次 16,100-22,300+ 10,100- 16,600 4,150 - 5,800 3,700 - 5,100 3,950 -5,400 4,050 - 5,700 3,850 - 5,300 4,000- 5,400 3,650 - 5,150 4,100 - 5,700 3,650 -5,200 3,600 - 5,100

High Rise; better Quality 高層; 中檔次 13,000- 15,400 7,900- 10,400 3,250 - 3,950 2,950 - 3,550 3,000 -3,800 3,250 - 3,950 2,950 - 3,750 3,100- 3,850 2,950 - 3,550 3,200 - 3,950 3,000 -3,550 2,950 - 3,550

High Rise; Ordinary Quality 高層; 普通檔次 11,900- 13,100 6,800- 8,200 2,100 - 3,000 1,850 - 2,650 2,000 -2,800 2,050 - 2,900 2,000 - 2,800 2,000- 2,900 1,850 - 2,650 2,050 - 2,900 1,850 -2,650 1,850 - 2,650

House; High Quality 別墅; 高檔次 26,200-33,800+ n/a 4,500 - 6,100 3,900 - 5,400 4,100 -5,700 4,350 - 6,000 4,100 - 5,700 4,150- 5,800 3,850 - 5,400 4,450 - 6,000 3,900 -5,400 3,850 - 5,400

House; medium Quality 別墅; 中檔次 18,700-23,400 n/a 2,900 - 3,800 2,600 - 3,450 2,750 -3,550 2,850 - 3,800 2,700 - 3,550 2,850- 3,600 2,600 - 3,450 2,850 - 3,700 2,600 -3,350 2,600 - 3,450

clubhouse 會所 26,100-42,800+ n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a

External works & landscaping 室外工程 3,400-7,300+ n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a(cost / m2 external area)

Hotel (including FF&E)酒店(包括家具及設備)

5-Star五星 27,700-33,700 22,200- 27,400 12,300 - 16,100 11,100 - 14,300 11,900 -15,200 12,200 - 15,800 11,700 - 15,000 11,600- 15,200 10,900 - 14,300 12,100 - 15,700 10,800 -14,100 10,800 - 14,300

3-Star 三星 22,600-26,000 18,300- 21,400 9,000 - 11,700 8,200 - 10,500 8,900 -11,000 9,000 - 11,500 8,600 - 11,000 8,600- 11,300 8,200 - 10,500 8,900 - 11,500 8,000 -10,400 8,000 - 10,500

Industrial厂房

Landlord; High Rise租用; 高層 8,100-9,200 n/a 2,400 - 3,350 2,150 - 3,000 2,300 -3,150 2,350 - 3,350 2,250 - 3,100 2,300- 3,150 2,150 - 3,000 2,350 - 3,300 2,150 -3,000 2,150 - 3,000

End User; Low Rise 自用; 低層 10,300- 15,500 n/a 3,600 - 6,300 3,200 - 5,600 3,350 -6,100 3,550 - 6,200 3,300 - 6,100 3,400- 6,100 3,200 - 5,600 3,550 - 6,200 3,200 -5,600 3,200 - 5,600

Carpark 車庫

basement; up to 2 Levels 地下室;不多于2層 12,000- 17,300 6,900-9,000 3,400 - 6,000 3,200 - 5,300 3,400 -6,000 3,650 - 6,300 3,350 - 6,000 3,250- 5,700 3,100 - 5,300 3,350 - 6,000 3,100 -5,400 3,100 - 5,300

multi-Storey地上;多層 6,900-8,300 n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a n/a

2012年第3季中國主要城市單方造價指標 Approximate Order of Construction Costs in Hong Kong and Selected Cities in China

(CostperSquareMetreConstructionFloorareaat3rdQuarter2012prices)

YEARS IN HONG KONGSINCE 1962

HONg KONgREpORT

dECEMbER 2012

6

lAbOUR COST TRENdS

AvERAgE dAilY wAgES Of wORKERS ENgAgEd iN pUbliC SECTOR CONSTRUCTiON pROjECTS

1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 11 12

Month / Year

Dai

ly W

ages

(H

K$

per

day

)

1,150

1,100

1,050

1,000

950

900

850

800

750

700

650

600

550

Average Daily Wages in HK$ per day

Selected Occupations 2011 2012

1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8

bar bender and fixer 1,174.5 1,188.0 1,190.3 1,197.5 1,192.8 1,192.7 1,223.2 1,237.0 1,280.4 1,278.4 1,274.1 1,249.3 1,276.9 1,288.2 1,283.1 1,287.5 1,295.3 1,295.5 1,306.2 1,311.5

Concretor 929.1 923.2 923.3 935.0 947.2 943.7 960.3 991.9 1,010.2 1,054.2 1,074.4 1,073.0 1,073.8 1,078.2 1,070.7 1,083.0 1,095.1 1,118.6 1,145.8 1,136.0

Carpenter (formwork) 1,007.2 1,012.3 1,017.4 1,021.3 1,032.8 1,059.6 1,066.2 1,077.4 1,092.9 1,090.4 1,084.9 1,091.1 1,129.3 1,131.2 1,125.2 1,126.7 1,134.2 1,143.2 1,161.8 1,178.3

painter and decorator 791.7 785.6 765.6 778.3 787.3 791.9 788.7 784.5 769.6 775.4 775.2 780.6 800.5 806.3 822.1 841.2 835.0 816.6 828.4 827.0

plasterer 889.8 884.2 888.0 892.8 897.7 897.2 908.2 914.9 918.5 931.0 931.9 940.2 961.7 955.3 956.4 972.5 968.0 965.5 972.1 966.2

Metal worker 841.4 831.4 837.6 799.1 809.2 813.6 817.0 824.5 828.3 842.2 830.9 835.3 845.8 854.0 870.2 865.1 868.9 874.5 872.7 857.2

plumber 881.6 871.8 860.0 862.7 863.7 856.2 859.8 871.8 876.6 897.4 898.2 893.9 896.7 903.2 916.2 912.1 914.4 910.0 907.6 906.6

general workers 602.2 605.1 604.6 603.7 605.6 606.7 606.4 606.0 604.7 609.2 614.6 616.4 617.2 619.1 620.8 620.5 626.9 630.4 629.5 629.1

(Source: Census and Statistics Department, HKSAR Government)

1,350

1,300

1,250

1,200

1,150

1,100

1,050

1,000

950

900

850

800

750

7

MATERiAl COST TRENdS

AvERAgE wHOlESAlE pRiCES Of SElECTEd bUildiNg MATERiAlS

9,800

9,300

8,800

8,300

7,800

7,300

6,800

6,300

5,800

5,300

4,800

4,300

Co

sts

of

Mat

eria

ls (

HK

$)

6,000

5,500

5,000

4,500

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

Average Wholesale Prices of Selected Building Materials

Building Materials 2011 2012

1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8

Sand ($/10 t) 720 720 720 720 760 760 760 800 840 930 940 1,010 990 1,000 1,000 1,080 1,150 1,170 1,230 1,190

bitumen ($/t) 7,570 7,650 7,783 8,083 8,450 8,450 8,450 8,450 8,450 8,450 8,450 8,483 8,600 8,700 9,120 9,330 9,330 9,230 8,863 8,780

portland Cement ($/t) 640 642 639 656 656 658 677 677 677 678 678 677 681 683 685 685 685 684 692 698

Sawn Hardwood 50x75 ($/m3) 4,107 4,362 4,595 5,066 5,153 5,171 5,171 5,171 5,406 5,406 5,441 5,470 5,476 5,476 5,476 5,499 5,499 5,511 5,511 5,511

Mild Steel Round bars ($/t) 6,868 7,010 6,956 6,888 6,909 6,958 6,935 6,948 7,021 6,955 6,781 6,747 6,630 6,577 6,550 6,560 6,557 6,443 6,433 6,227

High Tensile Steel bars ($/t) 6,277 6,392 6,533 6,475 6,431 6,482 6,489 6,555 6,595 6,571 6,361 6,288 6,268 6,219 6,183 6,189 6,174 5,865 5,883 5,761

(Source: Census and Statistics Department, HKSAR Government)

1 2 3 4 5 6 7 8 9 10 11 12 1 2 3 4 5 6 7 8 11 12

Month / Year

YEARS IN HONG KONGSINCE 1962

HONG KONGREPORT

dEcEmbER 2012

8

cOsT mOdEl INTERNaTIONal scHOOl International Schools in Hong Kong are schools which follow a non-local curriculum and the students do not sit for local public examinations. There is a certain restriction on the percentage of local students that can be enrolled in an international school.

Our cost model for international school in Hong Kong indicates that the unit cost range is from HK$18,000 to HK$24,000 per m2 of construction floor area (CFA) at 3rd Quarter 2012 price level. The unit cost of international school is normally higher than that of a government subvented school with standard design due to additional provisions such as special rooms, auditorium, swimming pool, indoor sport facilities, etc. The average area of classroom is also normally bigger. Staff quarters and boarding houses are not included in the cost range.

This cost model is based on the assumption that the building is solely foracademic use. In addition, the following items are excluded:

1. Site formation and demolition of existing building, if any.2. Basement construction.3. External works, outdoor sport facilities and landscaping.4. Utility diversion.5. Furniture and equipment.6. Consultancy fees, legal, financial and marketing expenses.

Unit Cost Range (at 3rd Quarter 2012 price level)

Range (HK$)1. Foundation and substructure 2,700 ~ 3,800

2. Structural frame and slabs 2,900 ~ 3,700

3. External façade 2,800 ~ 3,700

4. Architectural, Builders’ Work and Finishes 4,100 ~ 6,000

5. Building Services Installations 5,500 ~ 6,800

Total : 18,000 ~ 24,000

Cost Model - International SchoolHK$ per m2 Construction Floor Area

1. Foundation and substructure

4. ABWF 3. External façade

5. Building Services Installations 2. Structural frame and slabs

Upper Limit Lower Limit

7,0006,0005,0004,0003,0002,0001,000

0

Remarks:The cost model should be regarded as guidelines to indicate the likely range of international school costs for early stage cost planning. Actual costs will depend, among others, on the final design and the eventual selection of materials.

9

HOng KOng 香 港20th FloorEastern Central Plaza3 Yiu Hing RoadShaukeiwanHong Kong SAR香港筲箕灣耀興道3號東匯廣場20樓Telephone 電話: 852 2823 1823Facsimile 傳真: 852 2861 1283E-mail 電郵: hongkong@hk.rlb.com

BeIjIng 北 京Room 1803-1809, 18th FloorEast Ocean Centre24A Jian Guo Men Wai AvenueChaoyang DistrictBeijing 100004China中國北京市朝陽區建國門外大街24A東海中心18樓1803-1809室郵碼 100004 Telephone 電話: 86 10 6515 5818Facsimile 傳真: 86 10 6515 5819 E-mail 電郵: beijing@cn.rlb.com

CHengDU 成 都Rooms 6-12, 31st FloorHuamin Empire Plaza1 Fuxing StreetChengdu 610016Sichuan ProvinceChina中國四川省成都市福興街1號華敏．翰尊國際大廈31層6-12號郵碼 610016 Telephone 電話: 86 28 8670 3382Facsimile 傳真: 86 28 8613 6160E-mail 電郵: chengdu@cn.rlb.com

CHOngQIng 重 慶Room 1801Metropolitan TowerNo 68 Zourong RoadCentral DistrictChongqing 400010China中國重慶渝中區鄒容路68號大都會商廈1801室郵碼 400010 Telephone 電話: 86 23 6380 6628Facsimile 傳真: 86 23 6380 6618E-mail 電郵: chongqing@cn.rlb.com

DALIAn 大 連Room 1103 Xiwang Tower136 Zhongshan RoadZhongshan DistrictDalian 116001Liaoning ProvinceChina中國遼寧省大連市中山區中山路136號希望大廈1103室郵碼 116001 Telephone 電話: 86 411 3973 7778Facsimile 傳真: 86 411 3973 7779E-mail 電郵: dalian@cn.rlb.com

nAnjIng 南 京 Room 1202, South Tower, NIC201 Zhong Yang RoadNanjing 210009 Jiang Su ProvinceChina中國江蘇省南京市中央路 201號南京國際南塔寫字樓 1202室郵碼 210009 Telephone 電話: 86 25 8678 0300Facsimile 傳真: 86 25 8678 0500E-mail 電郵: nanjing@cn.rlb.com

QIngDAO 青 島 Room 2019, 20th FloorParkson Commercial Plaza44-60 Zhongshan RoadShinan District Qingdao 266001Shandong ProvinceChina中國山東省青島市市南區中山路 44-60號百盛商務中心20樓2019室郵碼 266001 Telephone 電話: 86 532 8612 3015Facsimile 傳真: 86 532 8612 3025E-mail 電郵: qingdao@cn.rlb.com

SHAngHAI 上 海22nd Floor, Greentech TowerNo.436, Heng Feng RoadZha Bei DistrictShanghai 200070China中國上海市閘北區恆豐路436號環智國際大廈22樓郵碼 200070 Telephone 電話: 86 21 6330 1999Facsimile 傳真: 86 21 6330 2012E-mail 電郵: shanghai@cn.rlb.com

SHenYAng 瀋 陽25th FloorTower A, President BuildingNo. 69 Heping North AvenueHeping DistrictShenyang 110003Liaoning ProvinceChina中國遼寧省瀋陽市和平區和平北大街69號總統大廈A座25樓郵碼 110003 Telephone 電話: 86 24 2396 5516Facsimile 傳真: 86 24 2396 5515E-mail 電郵: shenyang@cn.rlb.com

SHenzHen 深 圳Room 4510-4513Shun Hing Square Diwang Comm.

Centre5002 Shennan Road EastShenzhen 518001 Guangdong Province China中國廣東省深圳市深南東路5002號信興廣場地王商業大廈4510-4513室郵碼 518001Telephone 電話: 86 755 8246 0959 Facsimile 傳真: 86 755 8246 0638E-mail 電郵: shenzhen@cn.rlb.com

gUAngzHOU 廣 州Room 601Taikoo Hui Tower 1385 Tian He RoadGuangzhou 510620Guangdong ProvinceChina中國廣東省廣州市天河路385號太古匯塔1 601室郵碼 510620 Telephone 電話: 86 20 8732 1801Facsimile 傳真: 86 20 8732 1803E-mail 電郵: guangzhou@cn.rlb.com

gUIYAng 貴 陽Room E, 12th FloorFuzhong International Plaza126 Xin Hua RoadGuiyang 550002Guizhou ProvinceChina 中國貴州省貴陽市新華路126號富中國際廣場12層E座郵碼 550002 Telephone 電話: 86 851 553 3818Facsimile 傳真: 86 851 553 3618E-mail 電郵: guiyang@cn.rlb.com

HAIKOU 海 口Room 1708, 17th FloorFortune Centre38 Da Tong RoadHaikou 570102Hainan ProvinceChina中國海南省海口市大同路38號財富中心17樓1708室郵碼 570102 Telephone 電話: 86 898 6672 6638Facsimile 傳真: 86 898 6672 1618E-mail 電郵: haikou@cn.rlb.com

HAngzHOU 杭 州 Room 2306 Green Town Deep Blue PlazaNo. 203 Zhao Hui RoadHangzhou 310014 Zhejiang ProvinceChina中國浙江省杭州朝暉路203號深藍廣場2306室郵碼 310014 Telephone 電話: 86 571 8539 3028Facsimile 傳真: 86 571 8539 3708E-mail 電郵: hangzhou@cn.rlb.com

MACAU 澳 門Alameda Dr. Carlos D’ Assumpção No. 398 Edificio CNAC 9º Andar I-JMacau SAR澳門新口岸宋玉生廣場398號中航大廈9樓I-J座 Telephone 電話: 853 2875 3088 Facsimile 傳真: 853 2875 3308E-mail 電郵: macau@mo.rlb.com

TIAnjIn 天 津 Room 1908, 19th FloorTianjin International Building75 Nanjing RoadHeping DistrictTianjin 300050China中國天津市

和平區南京路75號天津國際大廈19樓1908室郵碼 300050 Telephone 電話: 86 22 2339 6632Facsimile 傳真: 86 22 2339 6639E-mail 電郵: tianjin@cn.rlb.com

WUHAn 武 漢Room 2301New World International Trade

CentreNo. 568 Jianshe AvenueWuhan 430022Hubei ProvinceChina中國湖北省武漢市漢口建設大道568號新世界國貿大廈2301室郵碼 430022 Telephone 電話: 86 27 6885 0986Facsimile 傳真: 86 27 6885 0987E-mail 電郵: wuhan@cn.rlb.com

WUxI 無 錫Room 1205-1206Wealth BuildingNo. 220 Ren Min Zhong RoadWuxi 214000Jiangsu Province China 中國江蘇省無錫市人民中路220號財富大廈1205-1206室郵碼 214000Telephone 電話: 86 510 8274 0266Facsimile 傳真: 86 510 8274 0603E-mail 電郵: wuxi@cn.rlb.com

xIAn 西 安 Room 2906, 29th FloorDigital PlazaHi-Tech International Business

Centre33 Keji RoadXian 710075Shaanxi Province China中國陝西省西安市高新區科技路33號高新國際商務中心數碼大廈29層2906室郵碼 710075 Telephone 電話: 86 29 8833 7433Facsimile 傳真: 86 29 8833 7438E-mail 電郵: xian@cn.rlb.com

zHUHAI 珠 海 Room 3108, 31st FloorEverbright International Trade

CentreNo. 47 Haibinnanlu, Jida, Zhuhai 519015Guangdong Province China 中國廣東省珠海市吉大海濱南路47號光大國際貿易中心31樓3108室郵碼 519015 Telephone 電話: 86 756 388 9010Facsimile 傳真: 86 756 388 9169E-mail 電郵: zhuhai@cn.rlb.com

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