2024-05-06 28Hse Editor
With full customs clearance comes announcements of two new projects
Under the effect of customs clearance, the property market is heating up, and developers have been quick to launch projects accordingly. Sun Hung Kai Properties’ (SHKP) NOVO LAND Phase 2B in Tuen Mun and Wheelock Properties’ KOKO ROSSO in Lam Tin are both located in the New Territories and urban areas respectively, and both rival developers plan to offer their prices next week, in what will shape up to be a property sale war. Among them, KOKO ROSSO took the lead in uploading their sales brochure yesterday. The smallest unit area starts from 268 square feet. ◆reporter Leung Yueqin
Ricky Wong Kwong-yiu, managing director of Wheelock Properties, said market sentiment in the property market sector is positive following the resumption of cross-border travel between Hong Kong and the mainland, and the property market has picked up. KOKO ROSSO’s sales brochure, uploaded yesterday, announced the first price list next week for a total of about 80 units, covering one- to two-bedroom units, most being less than 500 square feet in size. It is believed that most of the units will be priced at less than HK$10 million. It is hoped that they will go on sale within this month, making it the first new property launched in urban areas in the Year of the Rabbit.
80 units for the first batch of KOKO ROSSO
Wong added that since news of the project was announced last week, Wheelock has attracted many inquiries from young people based in Hong Kong Island East, Kowloon East and New Territories East. There were also inquiries from mainlanders already in Hong Kong or planning to come to Hong Kong to work or study, accounting for about 10 per cent of inquiries. He believes that the launch of new projects in the New Territories at the same time will help the first-hand market flourish and boost market sentiment. As for CK Asset Holdings’ low-price sales of Seaside Sonata in Cheung Sha Wan, Wong said that these sales would not affect the developer’s opening price strategy, but that the company would work with a bank to provide new mortgage arrangements.
Yang Wei-ming, General Manager (Business Development) of Wheelock Properties, pointed out that KOKO ROSSO consists of two residential buildings, namely Blocks 6 and 7, with a total of 392 units. In terms of layout, there are one-bedroom units with an open kitchen, and two-bedroom units with an open kitchen or terrace kitchen, with a saleable area of 300 to 497 square feet. There are also special units with terraces, skylines, and decorations with a usable area of 268 to 988 square feet. The two skyline units are three-bedroom units.
Half of the units in the project have a sea view of Victoria Harbour and are equipped with clubhouse facilities such as banquet halls. The smallest unit in the project is Room J on the 2nd floor of Block 6, with a saleable area of 268 square feet, and a one-bedroom unit with a 119-square-foot terrace. The largest unit is Room C on the 25th floor of Block 7, a skyscraper unit with a saleable area of 988 square feet, a three-bedroom unit with a suite, a workroom with a bathroom, and a 857-square-foot rooftop. The launch date is set for June 30, 2024.
NOVO LAND Phase 2B will be sold at the end of the month at earliest
Victor Lui Ting, SHKP deputy managing director, said that NOVO LAND Phase 2B in Tuen Mun is ready for sale. The sales brochure, open show units, and listing prices will be uploaded next week, and sales will start at the end of the month at the earliest. The project not only has the advantage of being close to the Tuen Ma Line, but will also have cross-border buses to and from the Shenzhen Bay Port. According to field tests, the journey takes only 15 minutes and 18 seconds. Therefore, residents enjoy the advantage of living near the Greater Bay Area. The project offers one-bedroom and two-bedroom units accounting for nearly 90 per cent of the units, and the remaining three-bedroom and four-bedroom units.
Regarding the deployment of multiple new properties for sale during the same period, Lui pointed out that after Hong Kong and the mainland resumed full cross-border travel, the economy has improved, the transaction of first-hand and second-hand properties have rebounded, and the luxury property market is picking up. In several districts, it is believed that the sales will be launched in an orderly manner, making for a positive market outlook.
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