990 new flats on the rise in Ho Man Tin

A residential project atop Ho Man Tin station jointly developed by Great Eagle (0041) and MTR Corporation (0066) has been named Onmantin and will offer 990 homes.

Onmantin, comprising five towers, has obtained pre-sale approval and the construction is estimated to be completed in March 2025, said Great Eagle.

The developer added that it is preparing for the launch of the project and will start sales at a later date.

The project was previously won by Goldin Financial (0530) with a land premium of HK$6.28 billion, or HK$8,459 per square foot. But Goldin was later trapped in a liquidity crisis and the project was taken over by Great Eagle in 2021.

In other news, New World Development (0017) has won the green light from the Buildings Department to redevelop Rose Court in Kowloon Tong into an eight-story residential building.

Among other plans approved, Vanke Hong Kong was allowed to build a 20-story building for residential and commercial use over an old building on Ting Fu Street in Ngau Tau Kok with the residences taking 77,775 sq ft or 83 percent of the total floor area of 93,408 sq ft.

The Hong Kong subsidiary of China Vanke (2202) had bought the site via two compulsory auctions for HK$594 million.

And in Causeway Bay, CSI Properties (0497) won approval to convert an old building on Shelter Street into a 30-story hotel.