Further units for sale at Sino's Villa Oceania

PUBLISHED : Friday, 03 April, 1998, 12:00am
UPDATED : Friday, 03 April, 1998, 12:00am

Sino Group will tomorrow release an additional 106 flats at its residential development Villa Oceania, Ma On Shan, raising the units on sale to 428.

The company registered 451 prospective buyers in the past four days.

The average price for the extra 106 units is $5,388 per square foot for cash payment - up 9 per cent from the $4,938 per square foot the first 108 units put on offer.

The 428 units, measuring between 665 sq ft and 1,427 sq ft, are offered in four batches.

Estate agents said the registration response to Villa Oceania was satisfactory considering the competition for buyers from Henderson Land Development's La Cite Noble, Tseung Kwan O.

The project, a 50-50 venture between Sino Land and the family of chairman Robert Ng Chee Siong, provides 551 units in seven blocks.

Henderson yesterday launched its seven-day registration for the sale of La Cite Noble.

The company is not prepared to disclose the number of registered buyers until registration closes on Wednesday.

Henderson released the first batch of 218 units at the project at a discounted price of $4,028 per square foot.

It later decided to offer an extra 220 units at $4,228 per square foot, 5 per cent higher than the initial batch.