Developed by LUJIN (1098) in partnership with Shenzhen Holdings (604), the low-density residential project, Kai Wo Shan, located at Guan Tsui Road, Tuen Mun, offers 693 units, with a range of open-plan to 4-bedroom apartments, with 2-bedroom apartments accounting for 30% of the total number of units. It is expected to announce the prospectus and open show flats early next month at the earliest.

Mr Chan Kin-chung, Deputy Director of Sales and Marketing of LUGGIN Properties, said, "Kai Wo Shan consists of 4 towers, providing a total of 693 units, with each tower having about 16 to 17 floors, and the height of the basement of each floor is 3.15 to 3.5 metres. The standard unit types range from open-plan to 4-bedroom units, and there are also featured units and 14 townhouses.

Chan Kin-chung pointed out that the project is located in the prime core of the Greater Bay Area, connected to a number of large-scale infrastructure and enjoy the natural beauty of the surrounding mountains and the sea, as well as international living facilities, the potential for future development should not be overlooked.

The project has already obtained the consent for pre-sale of uncompleted flats, the earliest is early next month to upload the prospectus and open different types of show flats, as well as the deployment of the next month to open for sale. As the interest rate hike cycle is expected to come to an end, the property market in the second half of the year is favourable, and the project's selling price will make reference to the recent prices of first-hand and second-hand properties in the same district.

He also pointed out that the Chinese name "Kaihe Mountain" implies praise and joy, while MORI is derived from the Japanese word for "forest", reflecting the project's green and natural environment.

According to information, the developer acquired the site in 2017 for $3.17 billion at a price of $6,700 per square foot, which was 20% higher than the upper limit of the valuation at that time.

With reference to the first-hand construction price in the same district, Cheung Kong Holdings and SHKP announced the price list of the first batch of 88 units in March this year, with the discounted price of one-bedroom starting from $3,069,000 and the average price of $12,509 per square foot, which is nearly 17% lower than the first batch of the discounted average price of $15,050 of Fei Yang Phase 1, which was launched in June last year.