（By Liang Yueqin）
Affected by longer presale approval, Zhao Guoxiong, the Executive Director of Cheung Kong, expressed on an interview yesterday that, the group's real estate sales in Hong Kong was below HKD 5 billion this year, less 83% than prediction in the beginning of the year which was HKD 30 billion, and it also was the worst of the company's performance in the past 13 years.
However, developer was not only selling residences, but also sold Kingswood Ginza in Tin Shui Wai to Fortune REIT (0778) at HKD 5.8 billion and parking places of some projects, with total property selling income in Hong Kong at more than HKD 10 billion, while house sale income in mainland this year was over HKD 10 billion, higher than the prediction of HKD 10 billion in beginning of the year, so the income of property selling in Hong Kong and mainland was more than HKD 20 billion, which still less 30% than above HKD 30 billion in last year. He said, there will be more than 5,500 first hand units in market valuation of more than HKD 30 billion being put on sale next year, and more than one thousand residences in mainland will be launched at the same time. He predicted, Hong Kong property price will rise by 10% next year because of the low interest environment.
Property price will float by 10% next year according to estimation.
He reiterated, Cheung Kong has diversified businesses and will not withdraw capital, and they will keep searching for suitable investment in Hong Kong, while oversea investing aims to bring higher return for shareholders, which is responsible action of listed company.
Zhao Guoxiong frankly said, the group only gained one sale approval which was for the Rise in Tsuen Wan, and their residence sale income in Hong Kong of this year including from One West Kowloon and Up Town's stock units in Hung Shui Kiu was less than HKD 5 billion. He believed the approval needs longer time because of government's a series of strict measures this year, while developer was not hurry seeing the weak market, plus with the related project including terms of traffic or community facilities requirements, so the approval goes longer. However he pointed, misfortune might be a blessing in disguise, many developers supplied privilege when opening to gain good feedback as market warming up, and then mark up, which shows citizens' confidence of purchasing is back and developers have found the balance point. He honestly said, their project at least should have to supply 10%-20% for discount if earned approval in earlier, but now they can stand strong on price.
He pointed, the group will put on sale parking places of LOHAS Park this week, and will also put on sale 100 units of Hupantianxia in Jiading Shanghai this weekend, then will make additional launch next month if the feedback is good and the Yutianxia in Beijing will be put on sale that time. He said, Cheung kong holdings and hutchison whampoa had sold Oriental Financial Center in Shanghai at about HKD 9 billion this year, with Cheung Kong among took HKD 4.5 billion, making their property selling income in mainland above HKD 10 billion.
Clarify no selling of commercial property in Kwun Tong.
As for source spread that Hutchison Whampoa sold the whole commercial building in No 9 Chong Yip Street in Kwun Tong at nearly HKD 1.2 billion, he clarified, Cheung kong holdings and hutchison whampoa had not sold the above property until yesterday.
Viewing property market next year, he believed, the property price links up with economic not cost, so developer also want to sell property even losing money when the economic is bad. While Hong Kong economic fundamentals remain solid and American new finance minister just took office, he believed the low interest will maintain until 2016 and Hong Kong property price will up or down by 10% next year.
He pointed, Cheung Kong planed to put on sale more than 5,500 units next year, with Electric Road resident project in North Point possibly the first to be launched in January, and large new projects may be put on sale by batch after Chinese New Year, which including phase 3 of LOHAS Park in Tsueng Kwan, Fung Yuen in Tai Po and TW7 in Tsuen Wan West Station, besides, Lee Kung Street project with limited area in Hung Hom and Yee Kuk Street project cooperated with URA will also be put on sale next year, and these units are in market value of more than HKD 30 billion which is higher than the prediction in the beginning of this year, if the approvals gained without delay.
