CK Asset exec says developers wary of second half launches

Tuesday, August 13, 2019

CK Asset (1113) executive director Justin Chiu Kwok-hung, said it is difficult for developers to launch new luxury projects, because prediciting property prices in the second half is not easy in an environment of local social unrest and the Sino-US trade war.

Chiu said CK Asset will not invite the police to enter its shopping malls.

Chiu also said Far East Consortium International won the commercial and hotel site on Shing Kai Road for a price 12.5 percent below market expectations due to regional factors, rather than recent demonstrations.

The Real Estate Developers Association issued a joint announcement, denouncing the escalating violence. CK Asset is among the 41 signatories.

Chiu said the association opposes any violence.