Home » Business » Real Estate
HK developer seeks best of 2 markets
By Cao Qian |
April 20, 2011, Wednesday
|
Print Edition
Print Edition
SUN Hung Kai Properties Ltd, a major Hong Kong residential and commercial developer, expects its Chinese mainland operations to account for a larger share of the company's overall business over the coming years while rising demand from Chinese mainland buyers is also propelling its Hong Kong sales.
"We have been maintaining a selective approach toward property development on the Chinese mainland, mainly focusing on building landmark projects in prime cities," said Victor Lui, executive director of Sun Hung Kai Real Estate Agency. "Over the long term, we expect our Chinese mainland business to account for about 30 percent of the company's total, up from its current proportion of less than 20 percent."
In Shanghai, SHKP may release soon its Wei Fong project, a luxury residential project in Pudong New Area. Sales of the project units that boast a panoramic view of the Bund might start as early as the end of this year, according to Allen Woo, a senior sales and marketing manager. Prices for the waterfront residences have not been released although there has been wide speculation that the project may be the most costly in the city by per gross floor area price, overtaking Tomson Riviera in Little Lujiazui.
The developer is also tapping increasing demand from Chinese mainlanders for high-end residential properties in Hong Kong.
Its waterfront development in southwest Kowloon, Imperial Cullinan, drew a warm response from Chinese mainlanders during its exhibition held earlier in Shenzhen despite its price. Offering a view of Victoria Harbour, the project is set to be released next month at a price of about HK$220,000 (US$28,298) per square meter. A villa project, Valais, that's located close to Shenzhen, has also attracted a significant number of Chinese mainland buyers, the company said.
A latest research by Hong Kong's Centaline Property showed Chinese mainlanders were keen on buying luxury properties in the city in the past nine months. They sealed more than one fourth of the luxury home purchase deals in Hong Kong from July 2010 - 26.9 percent by units and 28.8 percent by value.
"We have been maintaining a selective approach toward property development on the Chinese mainland, mainly focusing on building landmark projects in prime cities," said Victor Lui, executive director of Sun Hung Kai Real Estate Agency. "Over the long term, we expect our Chinese mainland business to account for about 30 percent of the company's total, up from its current proportion of less than 20 percent."
In Shanghai, SHKP may release soon its Wei Fong project, a luxury residential project in Pudong New Area. Sales of the project units that boast a panoramic view of the Bund might start as early as the end of this year, according to Allen Woo, a senior sales and marketing manager. Prices for the waterfront residences have not been released although there has been wide speculation that the project may be the most costly in the city by per gross floor area price, overtaking Tomson Riviera in Little Lujiazui.
The developer is also tapping increasing demand from Chinese mainlanders for high-end residential properties in Hong Kong.
Its waterfront development in southwest Kowloon, Imperial Cullinan, drew a warm response from Chinese mainlanders during its exhibition held earlier in Shenzhen despite its price. Offering a view of Victoria Harbour, the project is set to be released next month at a price of about HK$220,000 (US$28,298) per square meter. A villa project, Valais, that's located close to Shenzhen, has also attracted a significant number of Chinese mainland buyers, the company said.
A latest research by Hong Kong's Centaline Property showed Chinese mainlanders were keen on buying luxury properties in the city in the past nine months. They sealed more than one fourth of the luxury home purchase deals in Hong Kong from July 2010 - 26.9 percent by units and 28.8 percent by value.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
