Developers line up to launch new project and still want to raise the price.
Yuen Long REACH SUMMIT the next round of 102units will be put on sale tomorrow. One of the developers, Henderson Property Agency Sales Department (1) General Manager Lin Damin said, 17 units which are on sale will be closed today, and will be relaunched by mark up from 2% to 4% in the second round of sales tomorrow, and frankly, they hopes to recover the expected price.
Lin Damin said, REACH SUMMIT club “Shang Ju Hui” has four themes, including a 25-meter garden-style outdoor pool, a glass-box crystal massage pool, a children’s pool and a sunbathing bath. A specially built sauna in the pool changing room is paved with Natural rock salt brick walls, which is from the 600-meters deep deposits of the Himalayas, providing dry salt aerosol inhalation therapy to help relax the body and mind.
Un Chau Street reconstruction project may be launched before the Christmas.
Speaking of other new projects sales of the group, he said that, before the Christmas, they would have the opportunity to sell the Un Chau Street project in cooperation with the URA, providing 100 units, and the main patterns are open style and one-bedroom. Wellesley in the Mid Level West District has obtained the occupation paper. It is expected to be re-launched in the first quarter of next year. The price will be adjusted at that time. The project is expected to be handed over in March next year. So far, about 20 units have been sold.
As for the Yuen Long Ping Kin Lane project, which has been approved for pre-sale consent in early, he said that they have the opportunity to sell it in the form of a ready building in the middle of next year. The project will provide 16 bungalows with an area of about 1,000 to 2,000 square feet including parking spaces.
On the other hand, Zhuang Jiabin, managing director of CHUANG'S CHINA, said that the Tuen Mun Esplanade will additionally launch 10% of the units (about 38 units) as soon as next week, and they have the opportunity to additionally launch open style and rooftop feature units, plus there maybe mark up due to the low admission for Esplanade. He pointed, Esplanade has sold 82 units since the sale started in last month, about 45% of the total, bringing in about HKD 330 million, and the average square feet price is about HKD16,500. The open-type units are the most popular, taking 65% of the sold units. Cai Rongzeng, senior chief operating director of Ricacorp Properties said, they will bring housing preferential for Esplanade buyers. The first four buyers who purchase Esplanade units through Ricacorp Properties will receive a trip plan to Maldives for two people value HKD 22,000.
Wheelock Properties will launch three projects including two thousand units next year.
Huang Guangyao, managing director of Wheelock Properties said, this year, the Group has sold 2,103 units among residential project and 457 carports, taking in about HKD25.2 billion, while the three shopping malls in AONAN was sold at HKD3.2 billion, with total of HKD28.4 billion setting a new record for the Group's sales.
He said, the group will launch three new projects next year, offering more than 2,000 units, which will be similar to the sales of this year. The first project is the 7th phase of LOHAS Park, in which 7A including 616 units was applied for pre-sale in September, while 7B including 504 units will apply for pre-sale in this month. These two including 1,120 units in total will be put on sale next year. . The 77-79 Peak Road including 8 bungalows with usable area of 6,000-8,200 square feets, owned by The Wharf, are expected to be launched in the middle of next year. Lam Tin Station (Sin Fat Road) project provides about 1,000 units. It is preparing for the preliminary work. The house types are from one room to four rooms. It is expected to be launched at the end of next year, and the large units believed can attracted guests who want to change house.
He said that Tseung Kwan O MONTEREY had sent a letter to ask the owners to collect house in batches. This project has sold 775 units and cashed out HKD7.6 billion. The remaining 129 layered units for sale include 84 standard units and 47 feature units. The project launched a plan of 1,088 days of fixture date last week. And 11 units were sold in 3 days cashed out about HKD 110 million. The average transaction square feet price was HKD20,375. This Monday, 10 more units were launched. Currently, 32 units can be sold under such payment method. He pointed out that the 22 houses in the project are expected to be tendered for sale early next year.
In terms of increasing land store, he also said, that the group had invested in Lung Cheung Road at the beginning of this year. It purchased a Kai Tak site from HNA in the middle of the year. It also invested in the Kai Tak runway area by a join form in early. Although the bidding for the second runway area was failed, Mr Wong Kwong-yiu pointed, the Group still plans to bid for the third site in that district which will be closed at the end of the month. It is not excluded that they will bid in a form of joint venture. The price of the investment will depend on the prevailing market conditions.
