Proposal to build homes on Guishan Island

The Hong Kong Real Property Federation has proposed a reclamation and development plan for Zhuhai's Guishan Island, which is located southwest of Lantau Island, to accommodate 800,000 people.

The plan estimates providing a total of 753.47 million square feet of land and 280,000 residential flats.

The land developed under the project and surrounding waters will be owned by the mainland government, but law enforcement and judicial powers would be exercised by the SAR government, the HKRPF said.

In the primary market, Chevalier International (0025) will upload the price list of Sablier in Tai Kok Tsui in this week and will open sales as soon as this month. The project offers 144 flats ranging from 262 sq ft to 706 sq ft. The first batch of sales will offer not less than 50 units.

Henderson Land Development (0012), meanwhile, will launch second round sales of 72 units at Two.ArtLane in Sai Ying Pun this Saturday, with prices ranging from HK$25,849 to HK$31,429 per sq ft.

And CK Asset (1113) said it may announce a new round of sales arrangements today to offer not less than 285 units after it sold two three-bedroom flats at Sea to Sky in Lohas Park, including one of them for HK$15.61 million or 19,324 per sq ft.

The project also witnessed a forfeiture, with a buyer of an 802-sq-ft flat walking away from a HK$680,000 deposit.

In the secondary market, Chapman To Man-chak sold a 1,180-square-foot house at Hong Lok Yuen in Tai Po for HK$19.48 million.

Also, a 4,600-sq-ft shop in Causeway Bay, owned by Angela Leong On-Kei, the fourth wife of casino tycoon Stanley Ho Hung-sun, was rented for HK$600,000 per month to Sa Sa International (0178), 60 percent less than its peak price.