Hong Kong developer Wheelock Properties said it has sold 1,207 units at Phase 12 of its Lohas Park project in Tseung Kwan O and may launch three new projects in the second half of 2025.
Phase 12 of the project – jointly developed by Wheelock and MTR Corp (0066) – consists of Phase 12A Seasons Place, Phase 12B Park Seasons, and Phase 12C Grand Seasons, providing a total of 1,985 units. So far, 1,207 units, or over 60 percent of the total, have been sold, generating nearly HK$7.5 billion.
Ricky Wong Kwong-yiu, Wheelock Properties managing director, said the project will begin handovers gradually from the fourth quarter this year. He added that only about 30 percent of buyers have chosen stage payment plans, which allow them to settle the remaining balance after the initial deposit when the property is ready for handover.
China CITIC Bank International is offering mortgage incentives for buyers of Phase 12 of Lohas Park, with preferential rates as low as the Hong Kong interbank offered rate plus 1.3 percent, along with a cash rebate equivalent to 1 percent of the mortgage amount.
Meanwhile, Wong revealed that Wheelock may launch three projects in the second half of the year, involving around 1,500 units. These include Area 24 in Kwu Tung North, with about 400 units in its first phase, Phase 6 of The Southside in Wong Chuk Hang, and the joint development project at 18 Shing Fung Road in Kai Tak, Wong said.
STAFF REPORTER
