Prices cut for Sham Shui Po flats

Business | Lucas Lo 17 Jan 2020

West Park, developed by Hanison Construction (0896), in Sham Shui Po updated its first price list for its first batch of 30 units, selling them for as little as HK$18,696 per sq ft.

The flats have saleable areas from 333 to 493 sq ft, and will be sold from HK$6.07 million to HK$9.28 million after a 8 percent discount offered by the developer. The average price will be HK$18,739 per sq ft.

Matthew Chow Ka-fung, director of project management division said the units are being sold at a "Lunar New Year special price," where prices may be marked up in next batches depending on market conditions.

Louis Chan Wing-kit, managing director of Centaline, believes the sales performance will be positive, as two-bedroom new flats for less than HK$7 million are rare in Sham Shui Po.

In other news, the Building Department approved 21 building plans on last November, and Swire Properties' (1972) land in 46 to 56 Queen Road East was approved for development as a 23-storey commercial building with three basements and a total gross floor area of 215,000 sq ft.

Land at 3 to 13 Nga Tsin Long Road, Kowloon City, owned by veteran investor Tang Shing-por and his family, was approved for development as a 26-storey residential and commercial building with two basements.

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