K Wah to offer 5,500 units at four projects

Business | Staff reporter 23 Feb 2021

K Wah International (0173) will launch four projects this year offering nearly 5,500 units, including the property development at 2 Grampian Road in Kowloon Tong.

The project will offer five premium house units of over 4,000 square feet each.

The other three projects are codeveloped with other developers, including Grand Victoria in South West Kowloon, the 11th phase of the Lohas Park development in Tseung Kwan O and MTR Kam Sheung Road Station Project Phase 1 in Yuen Long.

In Happy Valley, Farzon Group sold a 411-sq-ft flat at Eight Kwai Fong Happy Valley for HK$12.81 million, or HK$31,173 per sq ft.

In the secondary market, a 389 sq ft flat at Whampoa Garden in Hung Hom changed hands for HK$6.8 million, or HK$17,481 per sq ft. The vendor, who bought the unit for HK$2.07 million in 1993, will gain HK$4.73 million, according to Centaline Property Agency.

In Southern District, a 1,104 sq ft unit at Residence Bel-Air changed hands for HK$31.8 million, or HK$28,804 per sq ft. The seller will make a capital gain of HK$10.9 million after holding the property for 13 years, according to Midland Realty.

In the commercial market, the overall vacancy rate of Grade A offices rose to 9.3 percent in January, JLL said. Decentralization remained an ongoing trend as corporate tenants looked to cut rental expenses amid the recession and relocate to more cost-effective locations, it said.

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