Tuesday, July 14, 2020
Martin Hennecke

Home run for Cheung Kong
Cheung Kong Holdings (0001) launched another 115 flats at its Mont Vert project, while Sino Land (0083) offered 30 more units at Park Metropolitan.

The number of flats available for sale on Saturday at Cheung Kong's 1,071-unit Tai Po project will reach 492 - reportedly attracting over 6,000 subscriptions.

Among the units, 378 are three-bedroom flats, while others include studio flats of 195 sellable square feet.

The developer is pricing the units at between HK$6,909 and HK$9,747 per sellable sq ft after factoring in discounts of up to 15 percent.

But the Sales of First-hand Residential Properties Authority has again urged Cheung Kong to further explain its decision not to allow buyers to visit the project site, which is against the rules and "seriously affects the interest of prospective purchasers."

Cheung Kong has claimed the site is not safe as the project is still under construction.

At Sino Land's Kwun Tong single-tower 299-unit project, 30 flats were priced yesterday at between HK$13,325 and HK$22,919 after discounts of up to 16.5 percent.

Since November, Sino has offloaded 200 units.

Sun Hung Kai Properties (0016) will launch its 960-unit The Wings IIIA in Tseung Kwan O next month. It mainly comprises three-bedroom flats.

SHKP deputy managing director Victor Lui Ting said the price tag will be close to market prices.

Separately, 11 units at Tagus Residences, a new service apartment in Happy Valley, are open for leasing, at prices 20 percent higher than others in the area.

It is the first local project of Tagus Properties, controlled by Ina Chan Un-chan, the third wife of Macau gaming tycoon Stanley Ho Hung-sun.

Previous news : HKMA sells $13.4b to defend peg


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