SHKP Deputy Managing Director Lui Ting said yesterday that Phase 2B of NOVO LAND in Tuen Mun has been approved for pre-sale consent and will upload the sales brochure, open the show flats and announce the first price list in a fortnight' time, and is expected to start selling at the end of the month, making it the first major new development to be launched in the Year of the Rabbit.

Last year, Phase 1A and 1B of the project sold over 1,538 units in less than a month, and he said the market is still full of takers.

Mr Chan said NOVO LAND Phase 2B, comprising two towers, offers 729 units, with nearly 90% of the units being one-bedroom and two-bedroom units, and is priced with reference to Phase 1 and its single-sided location on NOVO Walk, the project's shopping mall.

As for Phase 2A, he believes that pre-sale approval will be granted soon, with the opportunity to launch immediately afterwards.

On the other hand, Wheelock Properties plans to launch the sale of KOKO ROSSO at Lam Tin in February, with a total of 392 units. Chairman of Wheelock Properties, Mr Leung Chi Kin, said yesterday that the group's sales reached $29 billion in its peak year, but fell to nearly $10 billion last year due to the epidemic and interest rate hike, but was still satisfied with the sales results.

For this year's sales target, he said the group has set a sales target of not less than 10 billion yuan a year more than 10 years ago, but the property market and the economic environment are closely linked, depending on market conditions.

Managing Director of Wheelock Properties, Mr Wong Kwong-yiu, said the group plans to sell more than 3,000 units this year, with the first launch of KOKO ROSSO in Lam Tin (392 units), an urban property, and the first phase of 19 Seng Fung Road in Kai Tak (361 units) in the first quarter.

In the middle of the year, LOHAS Park Phase 12A (650 units) and Kai Tak MIAMI QUAY Phase 2 (571 units) will be launched.

KOKO HILLS Phase 3B (444 units), LOHAS Park Phase 12B (685 units), Spring Garden Street project (88 units) and 1 Hilltop Plantation Road townhouse project (6 houses) will be launched in the second half of the year.

Mr Wong said the Group currently has a land bank of about 6.81 million square feet, which can meet the sales demand in the next five years. He also pointed out that last year, through the auction of Ventris Tower in Happy Valley and the Staunton Street site in Mid-Levels, Central, and the completion of the land premium for the Kowloon Warehouse project in Kowloon Bay, the land reserve has increased by about 1 million square feet in one year.

In addition, K. Wah International's Director of Sales and Marketing Planning, Mr. Winston Wan, said that there is a chance that Kai Tak Bay 1, a joint venture with Tak Fung Properties and China Overseas, will be launched within a month, as the whole project has 2,138 units and Phase 1 has 1,017 units, which will be launched in batches. The project's flat types range from one to three bedrooms, with the main two-bedroom units accounting for 60% of the units, and are priced with reference to first-hand prices in the same district.

In terms of transactions, luxury residential properties continued to flourish, with Chinachem's University Court at Yuk Wo Road, Mid-Levels, tendering for the sale of Unit A on the 10th floor of Block 1, measuring 1,584 square feet, with car parking space for $80.8 million at $51,010 per square foot.