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Old March 13th, 2010, 06:27 PM   #41
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Old April 8th, 2010, 05:43 PM   #42
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Cheung Kong sales hit $10b in quarter
7 April 2010
The Standard

Cheung Kong Holdings (0001) has reaped HK$7 billion from selling 800 homes since launching Festival City in Tai Wai.

Together with the sale of flats in La Mer in Tung Chung, the developer sold HK$10 billion worth of homes in the first quarter, almost four times more than a year ago, said executive director Justin Chiu Kwok-hung.

Chiu said the Tai Wai residence saw 300 transactions and drew 50,000 visitors during the five-day holiday.

By yesterday afternoon, around 90 percent of all available flats were sold for between HK$7,500 and HK$11,000 per square foot.

In nearby Fo Tan, Sino Land (0083) sold three homes at The Palazzo during the holiday. A 2,379-square-foot apartment fetched HK$25.5 million, or HK$10,719 psf. Its Lake Silver development in Wu Kai Sha saw two deals.

Cheung Kong Real Estate director William Kwok Tsz-wai earlier said mainlanders accounted for 5 percent of all buyers.

Meanwhile, sales began at Henderson Land's (0012) Green Lodge in Yuen Long, with 20 homes sold.

The project has 32 split-floor units, 28 duplex homes and two houses, measuring 1,300 to 4,600 square feet.

A bid by buyers for the two houses for around HK$8,000 psf was short of the target price of up to HK$10,000 psf.

Sun Hung Kai Properties (0016) has sold 30 homes at Yoho Midtown in Yuen Long since Friday. Its Aria at Kowloon Peak saw nine deals yesterday, bringing total holiday transactions to around 62.

Midland Realty said secondary home deals at 10 major residential estates were down 37.9 percent on last year as primary homes absorbed some of the purchasing interest.

Sales at City One in Sha Tin fell 55 percent to just eight units.
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Old May 16th, 2010, 07:11 PM   #43
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Old May 17th, 2010, 01:34 AM   #44
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Thanks for the update. This project is topped out now.
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Old May 25th, 2010, 09:19 AM   #45
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Old June 20th, 2010, 02:53 PM   #46
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Old July 17th, 2010, 04:58 PM   #47
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Old July 28th, 2010, 12:40 PM   #48
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New luxury homes ride auction boost
10 June 2010
The Standard

Developers are upbeat over prices as they unload homes, while the government mulls putting more sites under the hammer following the satisfactory auction of a Ho Man Tin plot on Tuesday.

The 173,800-square-foot site fetched HK$10.9 billion, or HK$12,540 per square foot - both the second highest on record. The auction result reflects current market conditions, said Financial Secretary John Tsang Chun-wah yesterday, noting that another plot on The Peak will be auctioned next month.

"We will keep a close eye on [the housing] situation. More plots will go on the block if need be," he said.

As Tsang reminded people to carefully evaluate their ability to buy homes, developers looked set to raise prices for both new and backlog units.

Henderson Land (0012) is taking the lead to end the lack of project launches since measures were implemented to cool the sector by selling 30 houses at The Beverly Hills, Phase 3, in Tai Po next weekend at the earliest.

It will sell the 163-house Legende Royale in five to six batches. The initial target price is HK$10,000 psf for the homes, which range from 3,400 to 11,000 square feet.

Sales general manager Thomas Lam Tat-man said there is a lot of pent-up demand because of the lack of launches in the wake of the government's presale rules.

Henderson aims to sell the 10 biggest homes in the project, averaging 10,000 sq ft, at more than HK$18,000 psf. Two sold earlier for HK$14,000 psf. It is also set to launch 600 Canton Road by the end of next month at the earliest for around HK$8,000 to HK$10,000 psf.

Cheung Kong (Holdings) (0001) executive director Justin Chiu Kwok- hung said it will neither speed up project launches nor adjust prices set earlier for 14 units at Celestial Heights Phase 2 in Ho Man Tin to reflect optimism over prices fueled by the auction.

But the target price for two duplex units at Phase 1 has been raised from HK$30,000 to HK$32,000 psf. There will also be further price adjustments in two weeks.

The developer also aims to start selling flats in Oceanaire in Ma On Shan.

Sun Hung Kai Properties (0016) will put 11 more homes at Aria in Kowloon Peak on the market this week at an average of HK$8,077 psf. The lot, which includes a special home of 1,317 sq ft with a 700 sq ft roof, has an asking price of HK$18 million, or HK$13,667 psf.

"Aria has room for a 5 to 10 percent price increase," said Amy Teo, sales project director at Sun Hung Kai Real Estate Agency.

"The group will raise prices gradually and homes with mountain views will be made available this week but will cost 1 percent more."
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Old August 2nd, 2010, 05:48 PM   #49
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Old October 2nd, 2010, 01:04 PM   #50
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Old January 24th, 2011, 05:20 PM   #51
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Old April 18th, 2011, 07:10 PM   #52
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Old July 28th, 2011, 05:55 AM   #53
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