Cheung kong : Will not play tricks to avoid tax.

Developer take government using heavy tax to suppress residential property market demand in stride. Cheung kong plan to put on sale No. 1 in Lai Chi Kok next month.West Kowloon maintains original intention sq ft price at HKD13,800 which as second hand market price and will neither supplying special payment method for non local buyers nor making convenience for buyers' tax avoidance by injecting new company to make stock transfer. Cheung kong (holdings) investment director Huang Si-chong said frankly, new measures will make mainland buyers' ratio in their new projects decrease 10% and sold out period will prolong from 1-3 months to 3-6 months in future. One West Kowloon has received 1,200 inquires. 　 Huang Si-chong expressed, government's new measures suppressing property market do not affect the company's put on sale plan. The price will according to market demand and project supply .As for One West Kowloon, it is expected that it will get pre-sale approval in this week and put on sale in middle or the end of next month at the soonest. The project has received 1,200 inquires. The major promotion units are 4 rooms units in 1,300 sq ft located in building 2 " Yue Long Mansion" which launched in first batch. The 144 units in 3 rooms layout of building 1 between 1,150 sq ft to 1,170 sq ft with admission fee about HKD160 million will decided to put on sale or not in this year according to the demand and will not stock. 　 He said, One West Kowloon always is concentration of mainland buyers purchasing properties. The mainland buyers' ratio is about 15% to 20%. Government's new measures will largely decrease the mainland buyers' ratio in early days. It is estimated that the mainland buyers' ratio of this project will low down but developer will still hold the road show with agents in Shenzhen and Guangzhou. The project only has 286 units and expected that it will attract local users and long term investors. 　 He took Singapore as example, Singapore has carried out 10% SSD for non local buyers from the beginning of January this year. The property price of them still rises more than 2% by year and second hand deals number rises 44% in first 9 months making new highest record. He believed, Singapore's deals rising is because local people would like to into the market considering the measure lows down the market risk. The non local buyers' ratio in Singapore decreases about 10% to 20% in first 9 months. Wheelock put on sale Austin Station next season　 Wheelock's city affairs assistant general manager He Yong-yi said, the Kadoorie Hill in Prince Edward Road already launched price list for 56 units and 3-4 units left for selling. They have no related policy to change the price or supply other payment method according to the government new measures in temporary . And also will not put on sale by injecting new company to make stock transfer . There are still 10 units in this project without price list and put on sale date is uncertain in temporary. The group' s property selling income since this year has up to HKD 6.5 billion to HKD 6.7 billion ( including residential, commercial and non-core properties etc.) and they may not have new projects in this year. The first season plan for next year is put on sale the residential project in Austin Station developed with New World.

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