Kingboard Holdings’ The Cavaridge Sells House by Tender for Nice Price.

28Hse Editor  2020-06-18 
(By Leong Yuet Kam) Kingboard Holdings’ Kingboard Real Estate has developed in the mainland for ten years and has sold 25,000 units. The Executive Director of Kingboard Holdings, Cheong Ka-Shing, expressed yesterday that the company would expand the real estate development in Hong Kong in the future. The Cavaridge, an occupied project in Kau To, Sha Tin, will put on sale tiered houses and villas in the short term by tenders. The company also expects to develop small and medium-sized residential and even commercial projects through bidding for official land or other methods. On the other hand, LOHAS Park SEA TO SKY developed by Cheung Kong and MTR in Tsueng Kwan will announce the first price list today. The company will expand the real estate development in Hong Kong. Kingboard's first real estate project in Kau To, Sha Tin, Hong Kong, The Cavaridge, had started an internal subscription last year during the pre-sale period. Cheong Cho-Yi, the Marketing Director of Kingboard Holdings, expresses that the project has sold 27 units, including 24 villas and 3 tiered houses, cashing in about HKD3.5 billion. No.62 villa was sold for HKD262 million, a new high among first-hand villas in New Territories. Cheong Ka-Shing points out that they will put on sale tiered houses and villas of the project by tenders in the short term, and the prices will refer to the sale prices in the same district. The project will offer a long construction period as required by the buyer since it is existing. Cheong Ka-Shing believes that the National People's Congress's formulation of the National Security Law Related to Hong Kong is conducive to the stability and prosperity of Hong Kong and the good economy. Besides, Hong Kong has a small supply of luxury houses and strong demand. The group is very confident in the real estate market of Hong Kong. He points out that if the Hong Kong property market in the second half of the year can get over the effect of the COVID-19 epidemic in the first half of the year, and make passengers revisit in Hong Kong, the Hongkong's economy would be recover. Sea to sky offers prices today. LOHAS Park SEA TO SKY developed by Cheung Kong and MTR in Tsueng Kwan will announce the first price list today. Kwok, Chi-Wai, the Investment Director of Cheung Kong, discloses that the house selection will be divided into three stages. Buyers who buy three or four units will have priority to subscribe, then for the buyers from LOHAS Park, and the final will be arranged for the ordinary buyers. In line with the government's Restrict of Gathering order, the max people come into the sample flat will be 50, and there would have a series of epidemic prevention measures in the sales office. KOKO HILLS has received 2000 inquiries. On the other side, Woo Kwong-Yiu, the Managing Director of Wheelock, expresses the expectation of KOKO HILLS being approved of the pre-sale consent within the month. And then they will begin to sell. Since it was named at the end of last month, it has received about 2000 inquiries, most of which focus on three-bedroom to four-bedroom units. Therefore, they are discussing with the banks to offer special payment and mortgage schemes for the related customers who want to change houses. It offers 413 units, including one-bedroom to four-bedroom units, with areas of 345-1300 sq ft, and it mainly two-bedroom and three-bedroom rooms, accounting for 80%. He expresses that there has been no new supply of first-hand projects in the district for at least 20 years. Besides, it is adjacent to the Lam Tin port railway station and half of the units are having sea view, etc. It is believed to attract a number of branch families and customers who want to change houses to enter the market. Woo KwongYiu points out Wheelock had sold 620 units in the first half of the year, cashing in over HKD6 billion. They will mainly put on sale KOKO HILLS some time in the future. In the third quarter, the company will deploy to sell Mu Tai Street Project Phase 1 which offers 399 units in Kai Tak. In the fourth quarter, they will sell Grand Victoria Phase 1, which is known as the king land in Cheung Sha Wan, and the project offers 524 units. Besides, Mount Nicholson, the sales of which is in charged by the group, also tender sell houses recently. Emerald Bay adds 2% extra discount. China Evergrande's Emerald Bay Phase 1 in So Kwun Wat, Tuen Mun launches the "limited time offer in summer”. From now on to July 19, buyers will enjoy an additional 2% discount on the price. At the same time, the latest price list in phase 1 will also refer to the flexible payment method introduced in phase 2, that is, whether the buyer chooses the 90-day, 180-day or construction period payment method, after signing the temporary sales contract to pay 5% of the property price, the remaining 95% of the payment will be paid on the due date of the selected payment plan. Besides, a new low-interest mortgage scheme will be launched in phase 1, with the first 36 months interest rate of P minus 2.5% and then P Plus 3%. In first-hand property trading, Henderson’s Novum West in Sai Ying Pun sold three units yesterday, with a total value of more than HKD35.79 million. Room F on the 37th floor of Block 2, with an area of 366 sq ft, was sold for HKD12.54 million, and the sq ft price is HKD34,263.
Disclaimer: All wordings and pictures which indicated 28HSE editor are the copyright of 28HSE LIMITED. Acknowledgement is required if other parts of this publication are used. The content is for reference only, does not constitute investment advice and it does not mean that 28HSE agreed the points. The area which show in the article is salable area if there is no special circumstances. The pictures is for reference also.

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