Hong Kong’s new residential projects have attracted strong demand, with Henderson Land Development’s (0012) Woodis in Wan Chai receiving more than 1,100 subscription applications.
Sales arrangements are expected to be uploaded within the day, with the first round of sales slated to start on Saturday.
Mark Hahn Ka-fai, general manager of sales, said based on the first 80 units across two price lists, the project is over 12 times oversubscribed.
About 60 percent of potential buyers are from Hong Kong Island, 20 percent from Kowloon, and the rest from the New Territories and overseas, Hahn said.
The project is working with banks to offer a mortgage incentive plan, including up to 1 percent cash rebate and preferential rates as low as H+1.3 percent.
Meanwhile, the Grand Mayfair III in Yuen Long has received around 1,800 subscriptions for 206 units, representing eight times oversubscription.
The project is co-developed by Sino Land (0083), K Wah International (0173) and China Overseas Land & Investment (0688).
About 60 percent of interest comes from the New Territories, with Kowloon and Hong Kong Island accounting for 30 percent and 10 percent, respectively, said Victor Tin Sio-un, executive director of Sino Land.
Additional units may be released before the first sales round, the developers said.
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