Asia Construction

Costs Summary

Second Quarter 2014

Asia Construction Costs Summary

Shanghai

Beijing

Guangzhou/
Shenzhen

Chongqing/
Chengdu

Dalian

Shenyang

Building Type
RMB / m2 CFA

DOMESTIC
z


z


z


z

Apartments, high rise, average standard

- Shell and core
)XOOW
Apartments, high rise, high end
- Shell and core
)XOOW

2,600 - 3,000
4,500 - 5,000

2,600 - 3,000
4,100 - 4,500

3,200 - 3,500
3,100 - 4,500
11,000 - 12,000 10,100 - 11,500

2,310 - 2,550
3,450 - 3,810

2,300 - 2,700
3,300 - 4,200

2,500 - 2,700
3,800 - 4,400

2,400 - 2,600
3,500 - 4,000

2,900 - 3,150
5,730 - 6,330

2,800 - 3,400
5,300 - 7,000

2,900 - 3,300
7,200 - 7,900

2,800 - 3,200
5,800 - 6,500

Terraced houses, average standard

- Shell and core
)XOOW

3,000 - 3,200
N/A

3,000 - 3,500
6,000 - 6,500

2,600 - 2,870
N/A

2,600 - 3,200
N/A

2,800 - 3,200
N/A

2,600 - 3,000
N/A

Detached houses, high end

- Shell and core
)XOOW

4,500 - 5,000
N/A

4,500 - 5,000
11,500 - 12,000

3,550 - 3,920
N/A

3,600 - 4,200
N/A

3,800 - 4,200
N/A

3,500 - 3,800
N/A

OFFICE / COMMERCIAL
z

0HGLXPKLJKULVHRIFHVDYHUDJHVWDQGDUG

6,000 - 8,000

6,000 - 8000

5,020 - 5,550

5,500 - 6,500

5,700 - 6,100

5,500 - 6,000

+LJKULVHRIFHVSUHVWLJHTXDOLW\

8,000 - 10,000

8,000 - 12,000

6,900 - 7,620

7,000 - 9,500

7,800 - 8,200

7,500 - 8,500

Out-of-town shopping centre, average standard

N/A

4,500 - 6,000

4,780 - 5,280

4,300 - 5,600

5,000 - 5,600

4,500 - 5,000

Retail malls, high end

8,500 - 11,000

8,000 - 11,000

7,060 - 7,800

7,500 - 10,000

7,700 - 8,700

7,500 - 8,500

,QGXVWULDOXQLWVVKHOORQO\
&RQYHQWLRQDOVLQJOHVWRUH\IUDPHGXQLW

3,500 - 4,000

3,500 - 4,000

3,260 - 3,600

3,000 - 4,000

N/A

N/A

Owner operated factories, low rise, light

ZHLJKWLQGXVWU\

N/A

N/A

N/A

N/A

N/A

N/A

6,500 - 8,000

6,500 - 8,000

6,490 - 7,170

6,500 - 8,000

6,800 - 7,400

6,600 - 7,300

INDUSTRIAL
z


z

HOTEL
z

Budget hotels - 3-star, mid market

Business hotels - 4/5-star

11,000 - 15,000 11,000 - 14,000 10,480 - 11,580 12,000 - 15,000 11,500 - 13,000 10,000 - 13,000

/X[XU\KRWHOVVWDU

15,000 - 18,000 14,000 - 18,000 14,300 - 15,800

N/A

N/A

N/A

OTHERS
Underground/basement car parks
OHYHOV

5,000 - 7,000

4,500 - 5,000

3,300 - 5,300

N/A

N/A

3,800 - 4,200

0XOWLVWRUH\FDUSDUNVDERYHJURXQG
OHYHOV

2,500 - 3,500

2,500 - 3,000

2,360 - 2,600

2,300 - 2,700

2,400 - 2,500

2,300 - 2,500


z

6FKRROVSULPDU\DQGVHFRQGDU\

3,500 - 4,500

3,500 - 4,500

2,610 - 2,890

N/A

N/A

N/A

Students' residences

2,500 - 3,500

2,500 - 3,500

1,660 - 1,840

N/A

N/A

N/A

Sports clubs, multi purpose sports/leisure

GU\VSRUWV

6,500 - 8,000

6,000 - 8,000

4,890 - 5,410

N/A

N/A

N/A


z

General hospitals - public sector

N/A

N/A

N/A

N/A


z

10,000 - 13,000 8,000 - 10,000

ASIA CONSTRUCTION COSTS SUMMARY

SECOND QUARTER 2014

Asia Construction Costs Summary

Hong Kong

Macau

Singapore

Kuala Lumpur

Bangkok

Building Type
USD / m2 CFA (See also exchange rates per U.S. dollar below)
+.

023

6

50

%$+7

Apartments, high rise, average standard

- Shell and core
)XOOW

N/A
2,880 - 3,420

1,520 - 2,118
1,955 - 2,381

N/A
1,560 - 1,760

N/A
405 - 610

528 - 652
683 - 869

Apartments, high rise, high end

- Shell and core
)XOOW

N/A
3,910 - 4,560

2,118 - 3,371
2,719 - 4,160

N/A
2,360 - 3,520

N/A
975 - 1,170

636 - 869
993 - 1,179

Terraced houses, average standard

- Shell and core
)XOOW

N/A
3,960 - 4,620

2,657 - 3,296
3,321 - 3,960

N/A
2,000 - 2,240

N/A
285 - 405

310 - 435
497 - 621

Detached houses, high end

- Shell and core
)XOOW

N/A
5,310 - 5,860

3,208 - 4,624
4,048 - 5,439

N/A
2,520 - 3,360

N/A
950 - 1,165

559 - 807
838 - 1,024

DOMESTIC
z


z


z


z

OFFICE / COMMERCIAL
z

0HGLXPKLJKULVHRIFHVDYHUDJHVWDQGDUG

2,900 - 3,440*

2,243 - 2,907

2,000 - 2,200@

765 - 880

652 - 807#

+LJKULVHRIFHVSUHVWLJHTXDOLW\

3,640 - 4,420

2,907 - 3,170

2,200 - 2,440@

1,105 - 1,490

869 - 1,117##

Out-of-town shopping centre, average standard

2,900 - 3,440

2,118 - 3,170

2,200 - 2,360

685 - 820

652 - 850

Retail malls, high end

3,950 - 4,560

3,321 - 4,098

2,360 - 2,600

845 - 1,090

854 - 916

,QGXVWULDOXQLWVVKHOORQO\
&RQYHQWLRQDOVLQJOHVWRUH\IUDPHGXQLW

N/A

N/A

840 - 1,080

410 - 515

512 - 621

Owner operated factories, low rise, light

ZHLJKWLQGXVWU\

2,230 - 2,790

N/A

N/A

545 - 610

N/A

INDUSTRIAL
z


z

HOTEL
z

Budget hotels - 3-star, mid market

3,720 - 4,000

2,982 - 3,383

2,480 - 2,680

1,280 - 1,765

1,179 - 1,304

Business hotels - 4/5-star

3,910 - 4,560

3,985 - 4,762

3,160 - 3,600

2,220 - 2,560

1,490 - 1,707

/X[XU\KRWHOVVWDU

4,550 - 5,250

4,762 - 6,015

3,160 - 3,600

2,465 - 2,845

1,738 - 1,862

Underground/basement car parks

OHYHOV

2,130 - 2,650

1,617 - 1,955

1,080 - 1,480

455 - 625

559 - 745

0XOWLVWRUH\FDUSDUNVDERYHJURXQG
OHYHOV

1,260 - 1,490

977 - 1,328

760 - 1,080@@

265 - 345

186 - 310


z

6FKRROVSULPDU\DQGVHFRQGDU\

2,460 - 2,600

1,955 - 2,331

N/A

280 - 320

N/A

Students' residences

2,140 - 2,540

1,554 - 1,805

1,840 - 2,000

360 - 395

N/A

Sports clubs, multi purpose sports/leisure

GU\VSRUWV

3,560 - 4,080

N/A

2,280 - 2,440

740 - 805

N/A


z

General hospitals - public sector

4,850 - 5,470

N/A

3,160 - 3,320

1,105 - 1,360

N/A

OTHERS
z


z

ASIA CONSTRUCTION COSTS SUMMARY

SECOND QUARTER 2014

Asia Construction Costs Summary

Jakarta

Brunei

Manila

Seoul

Building Type
USD / m2 CFA (See also exchange rates per U.S. dollar below)
IDR 11,600

%

3+3

KWR 1,025

N/A
664 - 750

N/A
757 - 1,039

N/A
865 - 925

966 - 1,190
1,366 - 1,659

N/A
914 - 1,034

N/A
1,089 - 1,371

N/A
1,180 - 1,240

1,063 - 1,273
1,678 - 2,049

N/A
353 - 457

N/A
479 - 754

N/A
610 - 690

N/A
N/A

N/A
957 - 1,155

N/A
712 - 986

N/A
1,285 - 1,380

1,122 - 1,376
2,439 - 3,707

655 - 724

781 - 1,071

825 - 875

1,298 - 1,390

966 - 1,078

1,128 - 1,394

1,270 - 1,375

1,432 - 1,659

DOMESTIC
z


z


z


z

Apartments, high rise, average standard

- Shell and core
)XOOW
Apartments, high rise, high end
- Shell and core
)XOOW
Terraced houses, average standard
- Shell and core
)XOOW
Detached houses, high end
- Shell and core
)XOOW

OFFICE / COMMERCIAL
z

0HGLXPKLJKULVHRIFHVDYHUDJHVWDQGDUG

+LJKULVHRIFHVSUHVWLJHTXDOLW\

Out-of-town shopping centre, average standard

560 - 621

766 - 1,060

740 - 875

1,220 - 1,902

Retail malls, high end

621 - 672

1,010 - 1,302

1,080 - 1,120

1,415 - 2,341

,QGXVWULDOXQLWVVKHOORQO\
&RQYHQWLRQDOVLQJOHVWRUH\IUDPHGXQLW

302 - 328

361 - 650

450 - 460

727 - 878

Owner operated factories, low rise, light

ZHLJKWLQGXVWU\

328 - 362

490 - 781

480 - 510

N/A

INDUSTRIAL
z


z

HOTEL
z

Budget hotels - 3-star, mid market

1,138 - 1,345

1,461 - 1,748

1,180 - 1,375

1,815 - 2,244

Business hotels - 4/5-star

1,552 - 1,759

2,060 - 2,348

1,270 - 1,375

2,546 - 4,390

/X[XU\KRWHOVVWDU

1,655 - 1,862

2,116 - 2,545

1,575 - 1,650

2,829 - 4,488

Underground/basement car parks

OHYHOV

466 - 569

N/A

510 - 560

1,005 - 1,061

0XOWLVWRUH\FDUSDUNVDERYHJURXQG
OHYHOV

302 - 328

397 - 683

460 - 510

605 - 732


z

6FKRROVSULPDU\DQGVHFRQGDU\

N/A

575 - 858

690 - 765

N/A

Students' residences

N/A

671 - 955

690 - 785

1,523 - 1,595

Sports clubs, multi purpose sports/leisure

GU\VSRUWV

1,034 - 1,569

1,381 - 1,671

1,180 - 1,425

N/A


z

General hospitals - public sector

N/A

1,322 - 1,478

1,330 - 1,475

N/A

OTHERS
z


z

ASIA CONSTRUCTION COSTS SUMMARY

SECOND QUARTER 2014

Asia Construction Costs Summary

2XWOLQH6SHFLFDWLRQ

Building Type
DOMESTIC
Apartments, high rise, average standard

Shell and coreLQFOXGLQJQLVKHVWRSXEOLFDUHDEXWexcludingQLVKHVWRDSDUWPHQW

units
)XOOW, with air-conditioning, kitchen cabinets and home appliances, but excluding
GHFRUDWLYHOLJKWWWLQJVDQGORRVHIXUQLWXUH

Apartments, high rise, high end

Shell and coreLQFOXGLQJQLVKHVWRSXEOLFDUHDEXWexcludingQLVKHVWRDSDUWPHQW

units
)XOO W JRRG TXDOLW\ SURYLVLRQV ZLWK DLUFRQGLWLRQLQJ NLWFKHQ FDELQHWV DQG KRPH
appliances, but excludingGHFRUDWLYHOLJKWWWLQJVDQGORRVHIXUQLWXUH

Terraced houses, average standard

Shell and core MRLQHG KRXVHV LQ URZV excluding JDUGHQ SDUNLQJ QLVKHV DQG
WWLQJVWRKRXVHLQWHULRU
)XOO W MRLQHG KRXVHV LQ URZV ZLWK DLUFRQGLWLRQLQJ NLWFKHQ FDELQHWV DQG KRPH
appliances, but excludingGHFRUDWLYHOLJKWWWLQJVORRVHIXUQLWXUHJDUGHQDQGSDUNLQJ

Detached houses, high end

Shell and coreJRRGTXDOLW\IDFDGHexcludingJDUGHQSDUNLQJQLVKHVDQGWWLQJV

to house interior
)XOO W JRRG TXDOLW\ SURYLVLRQV ZLWK DLUFRQGLWLRQLQJ NLWFKHQ FDELQHWV DQG KRPH
appliances, but excludingGHFRUDWLYHOLJKWWWLQJVORRVHIXUQLWXUHJDUGHQDQGSDUNLQJ

OFFICE / COMMERCIAL
0HGLXPKLJKULVHRIFHVDYHUDJHVWDQGDUG
+LJKULVHRIFHVSUHVWLJHTXDOLW\
Out-of-town shopping centre, average standard

5&VWUXFWXUHFXUWDLQZDOOLQFOXGLQJSXEOLFDUHDWRXWWHQDQWDUHDZLWKUDLVHGRRU
carpet, painted wall and false ceiling
,QFOXGLQJSXEOLFDUHDWRXWDQG0 (EXWexcludingVKRSWRXW

Retail malls, high end

INDUSTRIAL
,QGXVWULDOXQLWVVKHOORQO\&RQYHQWLRQDOVLQJOHVWRUH\
IUDPHGXQLW

5&VWUXFWXUHZLWKVWHHOURRIDQG0 (WRPDLQGLVWULEXWLRQEXWexcluding a/c, heating

and lighting

2ZQHURSHUDWHGIDFWRULHVORZULVHOLJKWZHLJKWLQGXVWU\

5& VWUXFWXUH LQFOXGLQJ VPDOO RIFH ZLWK VLPSOH WRXW DQG 0 ( EXW excluding a/c
and heating

HOTEL
Budget hotels - 3-star, mid market
Business hotels - 4/5-star
/X[XU\KRWHOVVWDU

,QWHULRUGHFRUDWLRQ
)XUQLWXUH[HGDQGPRYDEOH
6SHFLDOOLJKWWWLQJVFKDQGHOLHUVHWF
2SHUDWLQJ6XSSOLHVDQG(TXLSPHQW26 (excluded

OTHERS
8QGHUJURXQGEDVHPHQWFDUSDUNVOHYHOV

RC structure

0XOWLVWRUH\FDUSDUNVDERYHJURXQGOHYHOV

RC structure, natural ventilation, no facade enclosure

6FKRROVSULPDU\DQGVHFRQGDU\

,QFOXGLQJWRXWDQGDFEXWexcludingHGXFDWLRQDOHTXLSPHQW

Students' residences

,QFOXGLQJWRXWORRVHIXUQLWXUHDQGDF

6SRUWVFOXEVPXOWLSXUSRVHVSRUWVOHLVXUHFHQWUHVGU\
VSRUWV

'U\VSRUWVQRVZLPPLQJSRRODQGDUHIRU

OHLVXUHFHQWUH
W\SHVFKHPHVLQFOXGLQJ
PDLQVSRUWVKDOODQFLOODU\VSRUWVIDFLOLWLHVFKDQJLQJDQGVKRZHUVUHVWDXUDQWFDIH
EDUHWF&RVWVLQFOXGHDF)XUQLWXUH)LWWLQJVDQG(TXLSPHQW)) (

General hospital - public sector

ExcludingPHGLFDODQGRSHUDWLQJHTXLSPHQW

1RWHV



7KHFRVWVIRUWKHUHVSHFWLYHFDWHJRULHVJLYHQDERYHDUHDYHUDJHVEDVHGRQ[HGSULFHFRPSHWLWLYHWHQGHUV,WPXVWEHXQGHUVWRRGWKDWWKHDFWXDOFRVWRID
EXLOGLQJZLOOGHSHQGXSRQWKHGHVLJQDQGPDQ\RWKHUIDFWRUVDQGPD\YDU\IURPWKHJXUHVVKRZQ



7KHFRVWVSHUVTXDUHPHWUHDUHEDVHGRQConstruction Floor AUHDV&)$PHDVXUHGWRWKHRXWVLGHIDFHRIWKHH[WHUQDOZDOOVH[WHUQDOSHULPHWHULQFOXGLQJOLIW

VKDIWVVWDLUZHOOVEDOFRQLHVSODQWURRPVZDWHUWDQNVDQGWKHOLNH



$OOEXLOGLQJVDUHDVVXPHGWRKDYHQREDVHPHQWVH[FHSWRWKHUZLVHVWDWHGDQGDUHEXLOWRQDWJURXQGZLWKQRUPDOVRLODQGVLWHFRQGLWLRQV7KHFRVWH[FOXGHV

VLWHIRUPDWLRQZRUNVH[WHUQDOZRUNVODQGFRVWSURIHVVLRQDOIHHVQDQFHDQGOHJDOH[SHQVHV



7KHVWDQGDUGIRUHDFKFDWHJRU\RIEXLOGLQJYDULHVIURPUHJLRQWRUHJLRQDQGGRQRWQHFHVVDULO\IROORZWKDWRIHDFKRWKHU



6KHOODQGFRUHJHQHUDOO\FRYHUV21/<EDVHEXLOGLQJHOHPHQWV6KHOOUHIHUVWRRYHUDOOVWUXFWXUHDQGIRXQGDWLRQVH[WHULRUZDOOVRRUVDQGURRIFRPSOHWLQJ
ZLWKFRPPRQDUHDVVWDLUFDVHVOLIWVKDIWVVHUYLFHGXFWVDQGUHVHUYLFHVV\VWHPVWRORFDOVWDWXWRU\UHTXLUHPHQWV&RUHUHIHUVWRIXOO\WWHGSXEOLFDUHDVOLNH
OREELHVFRUULGRUVDQGODYDWRULHVDQG0 (PDLQSODQWDQGXSIHHGZLWKWHQDQWRURFFXSDQWDUHDVXQIXUQLVKHG



)XOOWEXLOGLQJVVKRXOGFRPSOHWHZLWKDOOHOHPHQWVWKDWDOORZWKHEXLOGLQJVWREHUHDG\IRURSHUDWLRQLQFOXGLQJSXEOLFDQGWHQDQWVRURFFXSDQWVDUHDVLH

ZLWK$//QLVKHVWWLQJVDQG0 (GLVWULEXWLRQV



)OXFWXDWLRQLQH[FKDQJHUDWHVPD\OHDGWRFKDQJHVLQFRQVWUXFWLRQFRVWVH[SUHVVHGLQ86GROODUV





+RQJ.RQJ * L7HQDQWDUHDZLWKVFUHHGHGRRUSDLQWHGZDOODQGFHLOLQJLL)DFDGHLQFXUWDLQZDOOZLQGRZZDOO

6LQJDSRUH @ ([FOXGLQJFDUSHW @@ Open on all side with parapet
# L([FOXGLQJUDLVHGRRUFDUSHWDQGLQWHUWHQDQF\SDUWLWLRQLL)DFDGHLQZLQGRZVDQGEULFNZDOOSUHFDVWFRQFUHWHSDQHO
%DQJNRN
## ([FOXGLQJUDLVHGRRUFDUSHWDQGLQWHUWHQDQF\SDUWLWLRQ
Seoul
Curtain wall to external wall
Steel structure
Medium to high grade cladding, with garden
0HFKDQLFDOYHQWLODWLRQDQGFDUJXLGDQFHV\VWHP

ASIA CONSTRUCTION COSTS SUMMARY

SECOND QUARTER 2014