The development restarted sales last week and launched the sale of 31 standard strata units in the form of daily tenders from Monday this week, but according to market news, Ao Min has been taken over by accounting firm PricewaterhouseCoopers and the opening of the existing building was suspended from yesterday until further notice.
According to the first-hand residential property sales information website, the original 31-unit strata sale arrangement was terminated yesterday.
In response to inquiries, Ao Min developer Golden Carve Limited said it had no response to the above market news.
It is reported that the developer has referred the matter to its legal team due to the controversy involved.
Ao Min was originally privately owned by the former chairman of Highbank Financial, Poon So Tong. At the end of August last year, the developer had its pre-sale permit revoked by the then Transport and Housing Bureau for failing to prove that it could cope with the project's cost overrun.
The project applied to the Lands Department for pre-sale consent again in August this year, but the original owner, Poon So Tong, was ordered by the High Court to go bankrupt and wind up his company on July 8 this year.
In March this year, there was a change in the directors of Ao Min's seller, Golden Carve, with the latest directors including Ko Ching Fai, meaning that Ko Ching Fai has become the white knight of the project.
At the time, Golden Carve said that Ao Min has been held by Golden Carve, and now it has been completed and is applying for the satisfaction paper.
The company will consider different sales strategies depending on market conditions, including selling the property as an existing building or as an uncompleted building.
The developer said at the time that it would arrange to issue a notice of possession to buyers within 30 days and that the project's occupancy date would be cumulatively delayed by 22 months.
Ao Min suddenly announced last week that it would launch the sale of 31 standard strata units, covering two- to three-bedroom units with an area of 918 to 939 square feet, by daily tender this week, but no take-up has been reported.
The total of 401 units, the original record of 28 transactions, and then there are 9 cases of failure, so far only about 19 units sold, accounting for about 5% of the total plate.
On the other hand, Fanling North ONE INNOVALE construction progress is ideal, Henderson Property Agency Sales (a) Department General Manager Lam Tat Man said yesterday, ONE INNOVALE-Archway Block A and B nearly completed renovation work, confident that buyers can take possession of the building smoothly before Christmas. As for ONE INNOVALE-Cabanna, the second round of sales of 113 units will be held tomorrow night.
In addition, Mr. Lam Tat Man also said that the first round of sale of 23 units in Hung Hom will be held on Friday, and as of last night, the cumulative number of votes received is about 260, over-registered by about 10.3 times.
