The Lands Department announced that in July, a total of 8 uncompleted residential projects were approved for pre-sale, involving 4,602 units, compared with 906 units in June, a big increase of 3,696 units, or 4.1 times, hitting a 13-month high after 4,611 units were approved in June last year. The total number of pre-sale units pending approval in Hong Kong was 17,832 units last month.

Among the projects approved for pre-sale last month, 18 Shing Fung Road in Kai Tak runway area is the largest in scale, with four phases including 1A, 1B, 2A and 2B have been approved for pre-sale, involving 405 to 635 units, a total of 2,060 units. According to the information, the said site was acquired by a consortium formed by China Overseas, K. Wah, Henderson Land and Wharf at a cost of more than $15.9 billion in November 2019, which set a new record high for the land price of the runway area in terms of the total amount, with a per-square-metre GFA of $13,238 per sq ft.

NOVO LAND Phase 3B involving 769 units followed by Newland's (016) NOVO LAND Phase 3B in Tuen Mun was also approved for pre-sale, involving 769 units, and is expected to be completed in May 2025. Yesterday to "flat burst price" launched Cheung Kong (1113) Yau Tong sea-friendly station II, also last month was approved for pre-sale, involving 658 units, is expected to be completed in mid-October 2025 to move in, the period of about 22 months.

LUJIN (1098) and SHENZHEN HOLDINGS (0604)'s joint project, Kai Wo Shan, on Tuen Mun's Guan Tsui Road, was also approved for pre-sale last month, involving 693 units. The project consists of flatted residential units and more than 10 blocks of townhouses. The project consists of 693 units of flatted residential units and more than 10 blocks of houses. Among them, the flatted residential units range from open-plan to four-bedroom apartments, while the maximum five-bedroom apartments of the houses are expected to be ready by mid-2024. The developer said earlier that it would launch the flats for sale in this quarter at the earliest.

In addition to private development projects, the Hong Kong Housing Society's Anderson Road, Kwun Tong, HOS (18 On Hei Street, Kowloon project), has also been approved for sale of uncompleted flats, providing 422 units, the expected completion date for the end of 2025.