Developer giant, Sino Land, will launch three new developments this year, with the Kwun Tong Town Centre Project being the biggest redevelopment project in the history of the Urban Renewal Authority (URA). Victor Tin, associate director of the sales department at Sino Land says sales for the much-anticipated Kwun Tong Town Centre Redevelopment Project will start this year and offer a total of 2,000 units. The development will be rolled out in two installments with sales expected to begin in the second half of 2018.
Tin shares that Sino Land is optimistic about what the future of the real estate market holds. With three new projects in the pipeline offering 2,650 units; 2018 is marked as an excellent year for residential sales for Sino Land. Development Areas 2 and 3 of the Kwun Tong Town Centre Redevelopment Project will consist of four building blocks and offer roughly 1,000 units in the first of its two phases. About 85% of all the units are two-bedroom and three-bedroom flats, while some one-bedroom and four-bedroom apartments will be available too. Their saleable area will range from 350 to over 1,000 square feet.
According to Tin, to echo the government’s vision of developing Kowloon East into a smart city, this new development will feature high-tech smart home systems, state-of-the-art facilities sourced by the team from around the world, as well as smart management services. The redevelopment project will be used as a pilot to test the high-tech home system, and if all goes well, Sino will consider introducing them into other projects.
Tin shares that with sales expected to start in the second half of the year, Sino Land’s new Pak Shek Kok development is made up of five blocks, offering about 550 units, 85% of which are two- and three-bedroom units. Tin adds that this development is positioned differently from other estates in the area such as Mayfair by the Sea and Providence Bay, in that it has a focus on small units to attract younger homeseekers in the district. On the other hand, its Kowloon Road/Kiu Yam Street Project, developed in partnership with the URA, is a standalone building with around 100 units, most of which are one- and two-bedroom flats.
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