Wheelock unveils price list for Malibu units
Finance | Joyce Chen 2 Mar 2018Wheelock and Company (0020) released a price list for the first batch of its project Malibu yesterday, offering 320 units at the average price of HK$14,347 per square foot.
Ricky Wong Kwong-yiu, executive director of the company, said the price is lower than what was offered at Wings At Sea by Sun Hung Kai Properties (0016) last October.
Units available range from 367 square feet to 801 sq.ft., with prices from HK$6.83 million to HK$15.87 million. The cheapest is a one-room apartment with a selling price of HK$5.36 million.
As much as 21.5 percent discount will be provided by the developer, and there are five means of payment.
Wong expects to attract buyers from other districts apart from Tseung Kwan O.
The project in Lohas Park opens show units and accepts tender tickets today from 11am. One buyer is entitled to four unit purchases.
A manager from Centaline Property expects first-hand housing transactions to bounce back to 1,500 this month, from 530 transactions in February.
Raymond Chan, director from Midland Realty, agreed, adding that the launch of this project will pull down second house transactions in Tseung Kwan O in the short term.
Meanwhile, Kerry Properties (0683) said its project at Tuen Mun, Bloomsway, has received the certificate of compliance from the Lands Department, and will start property delivery next week. said Chu Ip-pui, executive director of Kerry.
Some 950 units, about 90 percent of this project, have been sold, at an average price of HK$18,000 to HK$19,000 per square foot.
On Wednesday, Financial Secretary Paul Chan Mo-po said there are still 9,000 units awaiting launch.
However, Chu said he believed this would not add pressure to the real estate market in Hong Kong.



