Hysan and Hong Kong Resort have just been granted a Certificate of Compliance for the development of Lam Hoi Shan City in Tai Po, and will be arranging for buyers to take possession of the property this month, as well as launching a new round of sales of existing flats.

Hysan Development's Director of Office and Residential Business, Mr. Moses Yip, said that Lam Hoi Shan City's proximity to various land crossings, including the Lok Ma Chau and Liantang crossings, as well as the Northern Metropolitan Development Area, has certain potential and is expected to attract more attention from prospective local and Mainland buyers with the opening of the Hong Kong-China border.

Lam Hoi Shan City will put up 53 units for sale by tender from Saturday, 11th of this month, including 34 standard units, 6 penthouses with rooftop and 11 ground floor units with garden features, with saleable areas ranging from 1,028 to 2,745 square feet, offering 2 to 4 bedrooms; and 2 townhouses, No. 3 and No. 5 at Hillcrest Drive, with saleable areas of 3,322 and 3,245 square feet These are 5-bedroom double en-suite houses.

Hong Kong Resort's General Manager, Business Development and Marketing, Ms. Lam Hung, said that with the project now in its current state, new payment methods have been introduced, including a 210-day long closing period, a rent-to-own scheme and an existing tenant purchase scheme.

A three-year interest-free and mortgage-free Flexi-First Mortgage Loan is also available, with a maximum loan period of 1,095 days (i.e. approximately three years) and a maximum loan amount of up to 85% of the property price, allowing buyers to arrange their capital flexibly.

Depending on the payment plan chosen, prospective buyers can purchase a flat within the first day to 39 months of leasing the property at the earliest and can enjoy up to full rental rebate to pay the balance of the property price directly.

So far, 17 units have been sold at an average price of $18,344 per square foot, representing over $435 million in proceeds.