June Chen
Sun Hung Kai Properties (0016) has named the second phase of its project at Tin Shui Wai as Yoho West Parkside.
It expects to receive presale consent shortly, and launch sales next month.
Yoho West Parkside will offer a total of 525 flats and it is expected to be complete in about one-and-a-half years, SHKP real estate agency general manager Allen Woo Chi-yuen said.
Prices will be based on the first phase of the project, which was priced at an average of HK$11,633 per square foot after discounts in the second price list released in late 2023.
Phase one of Yoho West has raked in roughly HK$6.5 billion through the sales of around 1,200 flats.
SHKP also plans to launch the second phase of Cullinan Sky in Kai Tak as well as phase 1A of the project in Sai Sha in the first quarter. Together, these three projects will offer around 2,000 homes, Victor Lui Ting, deputy managing director of SHKP said.
Lui expects the administration of US President Donald Trump will have little impact on the local property market and with increasing positive factors like mortgage rate downturn and growing rental demands from talents, which will drive home prices and rents up this year.
In Tuen Mun, the luxury project The Wave, developed by L'Avenue International, will sell the first batch of 19 homes via tender starting on January 31, with sizes ranging from 1,089 to 2,891 sq ft.
In Wong Chuk Hang, phase 4A of La Montagne in The Southside, developed by Kerry Properties (0683), Sino Land (0083), Swire Properties (1972) and MTR Corporation (0066), launched 78 flats yesterday.
In other news, two pieces of "government, institution or community" lands in Ngau Tau Kok are proposed to be rezoned to private domestic sites. If developed as residential projects, they could offer a total of roughly 990 homes.
The two include a site near St Joseph's Anglo-Chinese School, which is currently used as a temporary public parking lot at present, and the more than 50-year-old vacant site of Maryknoll Secondary School.
After rezoning, they are expected to be included in the government's land sale program.
The combined market valuation of the two sites is between HK$2.3 billion and HK$2.4 billion, with a floor price of about HK$3,600 to HK$3,800 per sq ft.
Victor Lui, left and Allen Woo reveal the project’s name. SING TAO
