The Buildings Department has approved 18 building plans in July, including eight apartment and apartment/commercial developments and three commercial ones.
Chinachem Group's development at the junction of Tonkin and Fuk Wing streets was one of the 18 projects, with a 22-story mixed-use building set to go up, involving 8,061.3 square meters in residential gross floor area and 1,612 sq m for non-residential areas.
It secured the project from the Urban Renewal Authority for HK$912.8 million last year.
Another approved Chinachem project in Hiram's Highway near Heung Chung Road, which it purchased for HK$531.9 million last year, will see single family houses and apartments with a total gross floor area of 5,301.2 sq m.
The average one-month Hong Kong interbank offered rate in July dropped one basis point from a month ago to 0.07, a new low that was seen 11 years ago, according to mReferral Mortgage Brokerage Services.
Henderson Land Development (0012) has received 900 checks for The Holborn in Quarry Bay, which is an oversubscription of more than six times for the 128 units up for sale on Sunday.
Its other project, The Henley III in Kai Tak, will launch sales on Monday.
The project is 13 times oversubscribed after receiving 1,180 checks for 81 units in the latest batch up for sale.
Meanwhile, Kwai Hung Group's Mangrove in Hung Hom is 60 times oversubscribed after receiving over 8,000 checks for all of 130 units up for sale tomorrow.
The prices range from HK$3.32 million to HK$9.1 million after discounts, or from HK$17,281 to HK$28,016 per sq ft.
Sun Hung Kai Properties' (0016) matriarch Kwong Siu-hing increased her stake in the company.
She acquired a total of 450,000 shares at an average price of HK$106.6891 per share on September 15, data from the exchange shows.
As a result, her stake in SHKP is up 0.01 percentage point to 26.73 percent.
The site at the junction of Tonkin and Fuk Wing streets that Chinachem secured from the URA. Above:
