Sino Land's Executive Director, Mr James Tien Siu-yuen, said the Group would launch five new developments totalling about 3,000 units this year, including LOHAS Park City CapitaLand III in partnership with MTR, K. Wah and China Merchants Land, Kam Sheung Road Station Parklane III in partnership with MTR, K. Wah and China Overseas, Central ONE CENTRAL in partnership with the Urban Renewal Authority, Wong Chuk Hang Station Island South Phase 4 in partnership with MTR, Kerry and Swire Properties, and Yau Tong Station Ventilation Building in partnership with MTR. Southshore Phase 4 in partnership with MTR, Kerry and Swire Properties, and the ventilation building project at Yau Tong Station in partnership with MTR.

Mr Yeung Man, Joint Director of Sino Land Group, said that the group sold about 55 first-hand units in January this year, mainly from ST. GEORGE'S MANSIONS in Victoria Peak, Ho Man Tin and Harbour View in South West Kowloon, realising over $1.8 billion, with prices ranging from $10 million to over $100 million. The most notable of these transactions, ST. GEORGE'S MANSIONS, recorded a number of large transactions, with a total of 9 units sold and over $850 million in cash.

Looking ahead to the outlook of the property market in the year of the rabbit, Tin Siu Yuen believes that the effect of the resumption of customs clearance, the New Year retail and new property market has seen a rebound, coupled with the SAR Government's launch of the high-end talent scheme, are conducive to the property market, it is believed that the price and volume of the property market will rise steadily this year.

In addition, a family of mainland spinning manufacturers has earlier purchased a two-unit flat on the same floor of ST. GEORGE'S MANSIONS at Kadoorie Road, Ho Man Tin from Sino Land and CLP for over $190 million.

The above transactions include Unit A on the 7th floor of Block 1 of ST. GEORGE'S MANSIONS, with a saleable area of 2,140 sq ft and 4 bedrooms and 2 suites, including carpark, sold for $104.5 million at $48,832 per square foot, and Unit B on the 7th floor of Block 1, with a saleable area of 1,841 sq ft and 3 bedrooms and 2 suites, including carpark, sold for $86 million at $46,714 per square foot. The buyer was Cheng Ah Fei, who sold the flat at $46,714 per square foot.

It is reported that Yang Yaobin and Zheng Yafei are the son and wife of Yang Weiguo, the vice chairman of spinning manufacturer Blum Oriental, which is listed on the Mainland.

According to the information, the buyers of the above two units paid about $4.44 million and $3.365 million respectively as tax, each accounting for 4.25% of the property price, implying that they entered the market as first home buyers.

In other first-hand transactions, Ballybottom and Regal Hotel's detached house No. 25 at Regal Hill Summit in Kau To Shan, Shatin was sold by tender for $68.041 million at a price of $26,413 per square foot, including two residential car parking spaces, for 720 days.

The buyer was offered a prestigious Regal Club membership with $1 million worth of Regal Dollars to enjoy the privileges offered by Regal Hotels Group.

Located next to the clubhouse pool, the 5-storey detached house No. 25 is a four-bedroom, four-suite apartment with a usable area of 2,576 sq ft and a garden area of 778 sq ft with its own lift. The rooftop is also 533 sq ft in size.

Regal Property Agency Director, Mr. David Wai, said that with the gradual return to normalcy and positive news such as the resumption of customs clearance, the market atmosphere continues to warm up and buyers are gradually releasing their purchasing power, and it is believed that the property market will see a steady increase in price and volume this year.

Chinachem Group's University Court at Yuk Wo Road, Mid-Levels, sold by tender a flat on the 11th floor of Block 1, Unit A, with a saleable area of 1,584 square feet, a 3-bedroom flat with 1 car parking space, for $86.33 million.

Yesterday, Kowloon Development's Hoi Yin Estate in Tseung Kwan O added a new payment method, offering 13% discount for one year and 11% discount for two years, and 2% rebate for early sales.