Hysan splurges $800m in Causeway Bay deals

Hysan Development (0014) has acquired No 85 to 89 at Percival Street in Causeway Bay in 14 deals, amounting to HK$800 million in total.

The most expensive deal was a ground floor shop at 85 Percival Street for a price of HK$260 million. All properties were purchased by Prehnite Investments. Its director is Chiu Ming-king, who is also a director of Hysan's subsidiary.

Meanwhile, Emperor International (0163), which owns 90 percent of shares of Ko Shing Building in Sheung Wan, unified the remaining lot shares in a compulsory sale at a reserve price of HK$259 million.

The site covers about 2,144 square feet, with a total buildable area of about 19,000 sq ft.

As for the primary property market, Hanison Construction (0896) named its 222 Hollywood Rod project "Hollywood Hill" and is expected to open the sale in August.

The developer said the brochure will be uploaded next week coupled with the opening of the show unit and the launch of the price list.

K&K Property's SkyeHi in Tuen Mun announced the first round sales arrangement right after the launch of its third price list.

The first sale will be on Sunday and will provide all 79 units launched in the first to third price lists. The subscription will end tomorrow.

The saleable area of the first round units ranges from 265 sq ft to 290 sq ft with a discounted price of HK$4.5 million to HK$5.99 million. The market value of the entire batch of units is about HK$503 million.