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Developers have lost capital and dispersed goods
Sep 20, 2023
Developers have lost capital and dispersed goods Hong Kong
By   Centaline Property
  • City News
  • Hong Kong Property
  • Property for Sale
  • Hong Kong Housing Market
Abstract: The market is in the doldrums, some developers have lost their capital and dispersed their goods.

Wenyao, Union Road, Ma Tau Kok, a subsidiary of Jian Hao Real Estate, announced its first price list on Tuesday (19th), involving 31 units, with a discounted average price of about $18,488, which is about 25% lower than that of the first batch of Long Bik, which was launched nearby in May last year.


The developer pointed out that this batch was launched at a loss price, "sell one and lose one". The first price list includes 8 one-bedroom units, 17 two-bedroom units and 6 three-bedroom units, with usable area ranging from 379 to 904 square feet. The discounted price ranges from $5,988,000 to approximately $19,309,000, and the discounted price of a square foot ranges from $15,730 to $21,360.


Demonstration units have been opened to the public since yesterday and will be reserved for interested buyers on a first-come-first-served basis, and it is rumoured that 8 units have already been reserved on the same day.


Lujin Properties and Shenzhen Holdings (00604) co-development of Tuen Mun So Kwun Wat Kai Wo Shan, Tuesday (19) uploaded the sales arrangements, the implementation of this Saturday, Sunday (23, 24) the first round of the sale of a total of 168 units, including Saturday first price list form of sale of 158 units, the market rumour project has received about 2,900 tickets, the provisional record of the oversubscription of more than 17 times, will be Friday (22) at 3:00 p.m. to cut off the tickets. The closing time will be at 3pm on Friday (22nd).


Tickets will be closed at 3:00pm on Friday (22nd). From Sunday onwards, 10 units of special features will be put up for sale, all of which are located in Block 5, including 1 unit with podium and 9 units on the top floor with rooftop.


Henderson property agent sales (a) general manager Lam Tat-man said, Henderson real estate (00012) under the Hung Hom Baker Creek series of Baker Creek, has been launched in the 3 phases of the cumulative sales of 428 units, the cash of about 2.61 billion Hong Kong dollars, the average price of the foot is about 21,685 yuan.


Looking forward to the future market, he pointed out that there is a rigid demand in the property market, the new property market still has a good performance, and with the recovery of the economy and the tourism industry, the market situation will stabilise.

Developers have lost capital and dispersed goods

Cheung Kong (01113)'s Yau Tong sea-friendliness station I, on Tuesday (19th) for $10.432 million sold Block 1, 2nd Floor, Room E, a practical area of 717 square feet of three-bedroom units, foot price of about $ 14,550.


Ho Man Tin Ao Co today (19th) uploaded the latest transaction record book, sold a total of 11 units in the form of tender, involving nearly $280 million, the highest transaction amount of $31.635 million, the highest transaction price of $22,200 square feet.


Mr Lee Yuen Fung, Senior Director of Jones Lang LaSalle, said that a total of 23 tenders have been received so far. He said the project has also been underwritten by major banks.


The project's Sales Arrangement No. 7, with a total of 15 units for sale, and Sales Arrangement No. 8, with a total of 40 units for sale, were announced last week and will close at 12:00 p.m. on the 25th of this month.


Kowloon Development (00034) Tseung Kwan O Estate, Tseung Kwan O, on Tuesday (19th) recorded two consecutive transactions, involving a total of $10.02 million. Among them, Unit A5, 23/F, Block 2, with a saleable area of 283 sq ft, was sold for $4,995,000, at a price of about $17,650 per sq ft.


Changshi Group (01113) since last week, price reduction of about 30% to "deep water price" to sell the first batch of 5 parking spaces in Hung Hom Harbourfront, the latest announced on Tuesday (19th) has been sold the first batch of cash of about $12 million, and immediate re-launch.


The group's sales department chief manager Guo Ziwei said, has been immediately at the original price of the second batch of 5 car parking spaces, priced from 2.33 million.


It is understood that Harbourfront has about 30 car parking spaces for sale.


Henderson Land (00012) development of Quarry Bay THE HOLBORN, the latest recorded two consecutive transactions, involving a total of $12.4603 million. Among them, the 26th floor of Block B, Room B3, a one-bedroom unit with a usable area of 255 square feet, was sold at $6,449,500, with a foot price of about $25,292.


Din Pei Group holds the Cheung Sha Wan Rui Feng, Tuesday (19) revised price list, will pay the method of sale price increased by 5 percentage points to plus 8%. Property implementation of Saturday (23) from the tender to sell 45 units, all units for sale will be put on the market.


The property since early February to restart the pace of sales so far cumulative sales of 92 units, cash amount of more than 1 billion, the entire project cumulative sales of 281 units.

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Developers have lost capital and dispersed goods
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