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.
The Belcher's advanced on buying demand
Shun Tak Holdings and Sun Hung Kai Properties (SHKP) will bring forward the official sale of 48 units at The Belcher's in Pokfulam by one week to Saturday.
SHKP said it made the move after a strong response to an internal sale of 237 units at the project on Sunday.
Registration for prospective buyers for the public sale has been brought forward and will run from tomorrow to Friday.
SHKP said the developers would consider putting more units on offer and the details would be announced within the next few days.
On Sunday, internal buyers snapped up 237 units, including 100 higher-valued flats given exemption from pre-sale restrictions.
The public sale units were being offered at an average price of $6,006 per square foot, similar to internal sales prices, the developers said.
Agents said units at upper floors achieved prices of $7,000 per square foot to $8,000 per square foot.
After the internal sale, The Belcher's has 448 units, including the first batch of 48 units, that can be put on public sale in the first-phase development.
The Belcher's, jointly developed with New World Development and Liu Chong Hing Investment, is being built in two phases comprising of 2,214 units in six blocks. Phase one has 1,094 units, of which 409 units were handed over to the previous occupants of the flats on the site.
The units offered for public sale measure 850 square feet to 1,830 sq ft.