New World Development (0017) said on Wednesday it will launch three new residential projects in the first half of the year, providing about 660 units in total.
Cannas Ho Ka-yan, director of sales and marketing at NWD, said the first launch will be a Tsim Sha Tsui project offering about 60 units. The project will be officially named on Thursday, with sales scheduled to begin in March.
Another project is Pavilia Rosa in Kowloon Tong, which will provide around 100 units, mainly three- and four-bedroom and special units. Meanwhile, The Pavilia Farm III in Tai Wai currently has about 500 completed units available for sale.
Ho added that Deep Water Pavilia in Wong Chuk Hang has only 40 three- and four-bedroom units remaining. A total of 771 units have been sold, accounting for over 93 percent of the project and generating more than HK$13.3 billion in proceeds. The developer plans to raise the indicative prices for tender in the near term.
At The Pavilia Forest in Kai Tak, 896 units have been sold, generating more than HK$6.4 billion. Recently, a three-bedroom unit was sold at HK$26,870 per square foot, setting a new record for standard apartment units at the project. The developer is preparing to increase prices shortly.
In addition, the group plans to launch two projects in the Northern Metropolis: the Ma Sik Road project in Fanling, offering about 2,300 units, and the Lung Tin Estate project in Yuen Long, providing around 700 units.
Cynthia ZHONG
