MTR rebates on the way for Octopus passengers

Top News | Samantha Wong 9 Mar 2018

MTR Corp Ltd says it will offer a 3 percent rebate on trips using Octopus cards for at least six months each year until 2023.

Another 30 HK cents discount will be offered to passengers using Octopus cards interchanging between MTR and green minibus routes from the second quarter.

The company's overall share of the franchised public transport market in Hong Kong last year was 49.1 percent, compared to 48.4 percent in 2016.

The share of cross-harbor traffic was 69.6 percent, up from 68.6 percent in 2016. Its market share for airport transport rose slightly from 21.4 percent to 21.5 percent.

Competition from other modes of transport reduced the company's share of the cross-boundary business from 51.2 percent to 50.8 percent.

On property, the group said it aims to tender out four projects - totaling about 4,200 residential units - in the next 12 months. The company expects to provide 1,650 units from the Lohas Park phase eleven project in Tseung Kwan O.

It is expected to provide 1,200 units in the Wong Chuk Hang Station phase three project, which covers more than 1.5 million square feet of gross floor area, with 500,000 square feet of retail space.

Phase two of the Ho Man Tin station project will provide 900 units, and 500 units will be provided from the former Yau Tong Ventilation Building site. Pre-sales were launched for the Lohas Park phase four projects in September to October last year.

By the end of the year, about 97 percent of the 1,040 units of Wings at Sea and about 36 percent of the 1,132 units of Wings at Sea II had been sold.

samantha.wong@singtaonewscorp.com

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