Wheelock Properties released 68 units in the first price list of Grande Monaco in Kai Tak, at an average price of HK$23,795 per sq ft after discounts, about 5 percent higher than the first price list of the phase 1 of Monaco development.
The units measure between 351 sq ft and 961 sq ft. The cheapest unit, measuring 351 sq ft, is offered at HK$7.66 million.
In Tuen Mun, Hong Kong Ferry (0050) and Empire Group will offer 128 units of Skypoint Royale for sale tomorrow.
The developers had received 4,227 checks as of yesterday, an over-subscription of 32 times.
Hong Kong Ferry and Empire Group released 56 units in the sixth price list of Skypoint Royale at the average price of HK$15,886 per sq ft after discounts, up 5.7 percent from the first price list.
Sino Land (0083) plans to offer five new projects for sale this year, providing nearly 4,680 units. Sino Land expects to launch One Soho in Mong Kok next month which will provide 322 homes.
Nan Fung Group, meanwhile, has raked in HK$5.6 billion after selling 515 units this year.
K. Wah International (0173) chairman Lui Che-woo said the group's property projects in Hong Kong and the mainland are prepared to hit the market.
In the luxury property market, the chairman of Bonjour (0653), Chen Jianwen, sold a 10,977-sq-ft villa at 11 Headland Road in Repulse Bay for HK$820 million, or HK$74,702 per sq ft, HK$180 million lower than the original target price, local media report.
Chen, who reportedly bought the property for HK$800 million five years ago, will gain about HK$20 million. He joined a list of magnates who were looking to sell their luxury homes after the local property market kicked off this year on an upbeat note.
Two weeks ago, local media reported that Canning Fok Kin-ning, co-managing director of CK Hutchison (0001), was looking to sell two houses at 64-66 Chung Hom Kok Road in Chung Hom Kok, and the buyer was willing to fork out HK$900 million for them.
In the secondary market, a 583-sq-ft flat at Taikoo Shing in Quarry Bay, from which former Asia Television anchor Kelvin Tang King-fai fell to his death, changed hands for HK$8.35 million, or HK$14,322 per sq ft, local media reports.
A 284-sq-ft flat at City One Shatin fetched HK$5.38 million, or HK$18,944 per sq ft. The vendor, who bought the unit for HK$3.43 million in 2013, will gain HK$1.95 million.
The cheapest home at the Grande Monaco in Kai Tak will burn a HK$7.6 million hole in your pocket. SING TAO
