Sun Hung Kai Properties Ltd. (00016.HK) plans to launch 13 residential developments for sale this year, providing a total of more than 6,000 homes, the largest number since 1997.
Four of the developments — two in Yuen Long, one in Tseung Kwan O and one in Ho Man Tin — offering a total of 1,921 units will be launched in the first quarter, the Hong Kong Economic Journal reported Friday, citing SHKP deputy managing director Victor Lui Ting.
Phase 1 of Grand YOHO, another complex in Yuen Long along the West Rail Line, will provide 1,100 units in the second quarter, contributing 35 percent of the company’s projected sales this year together with two other developments to be sold in Yuen Long during the first half.
Other projects to be sold this year include the former North Point Estate, Belcher’s Street in Sai Wan, Shouson Peak in Island South and Twelve Peaks on The Peak.
The developer will be contributing 30 percent of the 20,000 new units expected to come onto the market this year, said Louis Chan Wing-kit, chief executive (residential) for Asia-Pacific at Centaline Property Agency Ltd.
Price cuts of 10-20 percent from current levels should be good enough to lure buyers of new homes at this stage, Chan said.
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