Century Gateway's hot sale drive other developers to compete launching the projects. The Reach located in Tai Tong of Yuen Long aim to young first property buyers and launched 100 units in building 3 and 8 at market price yesterday. The average sq ft construction period price is HKD7,228. Base on this sq ft price, the admission fee for 2 rooms unit cost HKD 3,468,000 and for 3 rooms unit the admission fee is HKD 7,159,000. The average sq ft price for cash payment is HKD6,866. Base on this sq ft price, the admission fee for 2 rooms unit cost HKD 3,294,600 and for 3 rooms unit the admission fee is HKD 6,800,000. And then, it addition launch 148 units at original price at average sq ft construction period price HKD 7,275
Henderson Land sales department general manager Lin Da-min described the first batch sale price of The Reach is " Joyful price". The project will be on sale next week at the soonest. They will pay attention to the market reaction and arrange if or not to addition launch more units for the market demand in short term. He pointed out, first batch which is 100 units of The Reach will take HKD450 million cash in after sold out. The sample flat of The Reach opened from this Thursday and there are record that about 40,000 person time visited the sample flat in 2 days.
According to the price list, 10 units of this first batch 100 units are 3 rooms units located in building 8 with cover area of 1,013 sq ft to 1,014 at construction sale price HKD 7,159,000 to HKD 7,296,000. The other 90 units are 2 rooms units in building 3 with cover area 492 sq ft to 604 sq ft sale at HKD 3,468,000 to HKD5,322,000 during construction period and enjoy 5% discount for cash payment.
「18 Upper East」accumulative sold 93 units taking HKD650 million cash in
EMPEROR IHL executive director Zhang Bing-qiang pointed out, 「18 Upper East」in Sai Wan Ho promote to sale out the last 15 units at 7% price mark-up and the average sq ft price is HKD18,000. The cover area of these units are 494 sq ft to 1,349 sq ft and sq ft price from HKD14,700 to HKD24,493. The actually price mark-up is 2% after deducting stamp duty and 70 months managerial fee until the end of November presented by developer which equivalent to 5% of the property price. It will take HKD 218 million cash in after sold out. The project has accumulative sold 93 units taking HKD 650 million. As for the shops in underground and 1st floor which cover 11,000 sq ft area are for rent and ParknShop rent 3,300 sq ft at sq ft price HKD80 base in cover area calculation.
Zhang Bing-qiang said, EMPEROR IHL will into the bid of Hang Seng Building in Sai Wan Ho and research to get into the bid of limited residence land in Tseung Kwan 68A1 area. EMPEROR IHL has sold 60 residence units since this year taking about HKD 700 million cash in and there are also new project possible be promoted and put on sale before the end of the year which is residence in No. 180, Connaught Road West in Sai Wan at intention sq ft price HKD 20,000 to HKD 23,000. The market value of the project nearly HKD 4.5 billion.
EMPEROR IHL spend HKD 700 million to collect shops in Tsim Sha Tsui after QE3
He added, EMPEROR IHL spend HKD 172 million more to buy two shops in Wah Yuen Building , No. 83-97, Nathan Road, Tsim Sha Tsui in the past week. The cover area of the shops are 800 sq ft and 1,100 sq ft price at HKD 140 million and HKD32 million. Since this year, EMPEROR IHL has spent HKD 1.3 billion to buy shops and HKD 700 million has been spent to buy 4 shops after the QE3.
Source tell, Chinachem has reserved 5 units from Yemen.Qian in Kowloon City. Source also tell, Lippo Group just sold room A, 20th floor, Celestial Garden, NO.5 in Repulse Bay Road with cover area of 2,300 sq ft connected with one packing place and the sq ft price is HKD23,280.
