Hysan has border hope

Hysan Development (0014), which will launch a new project in Tai Po, said the cross-border travel is just a short-term issue, while a bank has rented three units in Lohas Park for overseas staff.

The new luxury residential project co-developed by Hysan and HKR International (0480) at Lo Fai Road in Tai Po has been named Villa Lucca, offering 262 units.

The developer expects to launch sales this quarter.

The project includes 36 garden houses, with areas between 3,000 square feet to 8,000 sq ft. The remaining units are flats, ranging from two to five bedrooms, each with areas of over 1,000 sq ft.

Located near the Northern Metropolis, Hysan believes it will be attractive to people from the Greater Bay Area as well as Science Park, said Ricky Lui, executive director and chief operating officer of Hysan.

Lui also said that though Hong Kong has not reopened the border with the mainland, the problem is only temporary.

This came as Country Garden (2007) unveiled the first price list for its Allegro in Kowloon City, with the cheapest unit coating a little less than HK$5 million after discounts.

Separately, an Asian bank has leased three units at LP6 and Sea To Sky in Lohas Park for two years for its overseas staff, with a monthly rent of HK$24,000 for each unit.