Sunday, June 16, 2019
Martin Hennecke

Tin Shui Wai to get 54 flats per floor
The residential project proposed by CK Asset (1113) in Tin Shui Wai will comprise two skyscrapers of 53 floors with 54 flats on each floor. A total of 5,000 flats will be constructed in the project, which equals one-third of Kingswood Villas' total amount of flats. It is expected that the average sizes of flats would be less than 300 square feet. Each skyscraper would have a total of 10 lifts and three sets of stairs, while a long aisle would link up the 54 units, according to the application document. Vincent Cheung, the senior surveyor, said this is a rare super-size project in the market and could have the highest-ever number of units on one floor. He added that the market had been stunned by Hung Hom's Upper East project, developed by Kowloon Development (0034), with 36 units on one floor. But this project would be more extreme. In other news, the primary market saw nine cases of forfeiture in only nine days while a total of HK$11.1 million was forfeited by developers. New World Development's (0017) Mount Pavilia in Sai Kung recorded two cases of forfeiture, involving a 1,009 sq ft unit and a 1,162 sq ft unit, which sold at HK$20.8 million and HK$17.55 million respectively last May. Grand Central, Lohas Park phase six and Ultima also recorded forfeitures. Sun Hung Kai Properties'(0016) Downtown 38 plans to release prices soon. Deputy managing director Victor Lui said many of the units will sell at under HK$6 million, and applications can be made for a maximum 80 percent mortgage. Meanwhile, three-month Hibor hit a five-month low at 1.9 percent while overnight Hibor fell to 0.25 percent.
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