Sun Hung Kai Properties
Sun Hung Kai Properties is one of Hong Kong’s largest property groups, with revenue of HK$68.4 billion in the 2011-2012 financial year, and profit attributable to shareholders of HK$43.08 billion. The company has been shaken in recent years by disputes between family members, with chairman and chief executive Walter Kwok being forced to step down in a dispute with his brothers Thomas and Raymond. In March, the Independent Commission Against Corruption (ICAC) arrested senior officials as part of a corruption probe that also included former chief secretary Rafael Hui.
SHK offers 96 more Meadowlands flats at same price level
By KENNETH KO
SUN Hung Kai Properties will release an extra 96 flats at its low-rise Meadlowlands development in Yuen Long, raising the total number of units on sale to 160.
A total of 312 people had registered to buy the flats in the offering when the five-day registration period ended yesterday.
The units, measuring from 584 to 913 square feet, will go on formal sale on Saturday at the same average price of $2,556 per square foot.
Sun Hung Kai is offering an extra 10 per cent mortgage for buyers on top of the 70 per cent provided by banks.
Private developer Luk Hoi Tong Co also will provide a 10 per cent top-up mortgage to attract buyers for its Bauhinia Garden homes, also in Yuen Long.
It is offering 20 flats at an average of about $2,500 per square foot.
The developer will register potential buyers from April 12 to 19 with the formal sale due on April 22.
Meanwhile, Sino Land Co will offer 48 units in Block One of its Avon Park project in Fanling on Saturday.
The sale will be conducted on a first-come-first-served basis.
The project comprises seven residential blocks and a 20,000 sq ft clubhouse, and Block One will be the last block to go on sale.
The units, measuring from 515 to 640 sq ft, will be offered at an average of $3,655 per square foot, up 0.7 per cent from the last sale two weeks ago.
On Saturday, the Housing Society will also start registering potential buyers for the sale of 72 flats at its Prosperous Garden in Yau Ma Tei.