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Ah Pak

Speak out for Kai Tak promenade

Would you like to enjoy an outdoor dining experience on the waterfront of the former Kai Tak airport - the last large piece of undeveloped urban land in Hong Kong?

If the answer is yes, now is the time to speak out, suggests Ah Pak.

Eric Wong Chun-yu, a co-head of Asia property research at UBS, supports an e-mail campaign launched by Designing Hong Kong, a group founded by four individuals including Christine Loh Kung-wai, the chief executive of think-tank Civic Exchange, to oppose the government's current intentions for the site.

There will be no outdoor dining under the government proposal since 80 per cent of the site will be given over to roads.

'Recent international studies showed that every great harbour front, whether in Singapore, Sydney, Vancouver or Cape Town, have roads away from the waterfront. Properties shield the waterfront promenade and provide facilities for culture, entertainment, restaurants and marine support,' the group said. 'A promenade could be used by pedestrians and cyclists for leisure, recreation, with facilities for outdoor seating and boating.'

The solution: just set back the roads from the waterfront and follow the example of successful waterfronts around the world.

Mr Wong declares he is not a member of Designing Hong Kong but shares their view by forwarding the e-mail to friends, relatives, and people of influence to spread the idea.

The roads and the upgrading of the existing taxiway bridge will cost HK$1.1 billion of public money.

Mr Wong, who cycles to his IFC office in Central, successfully fought for a parking lot for his bicycle from the developers.

Now he has a bigger dream as he hopes the waterfront promenade will lead to the development of a coastal road for pedestrians from Tsuen Wan to Lei Yue Mun.

Sales chiefs go through revolving door

Property sales are the lifeblood of developers and it is tough at the top for those in charge of sales departments. Take Chinese Estates Holdings, which has one of the highest turnovers of sales chiefs in the industry and has employed no fewer than five bosses in the past six years.

Peter Or, who was in charge of sales at i-home in Tai Kok Tsui, was the latest to leave suddenly last week and the firm said he had resigned for 'personal reasons'.

Mr Or's departure comes less than a week after he announced that prices at i-home would be HK$3,943 per square foot and the cheapest unit, with an area of 509 sq ft, was HK$1.8 million.

It was the lowest price, in terms of lump sum amount, for a flat in the urban area since the financial crisis, and immediately gained news coverage. 'The price was not that low,' Mr Or was quoted by the media.

A day later, the developer cancelled the first price list and sent out a new one at higher prices.

Despite the higher prices, Chinese Estates managed to sell 75 per cent of the 182 flats available.

Agents geared up for Central Park flats

Tin Shui Wai flat owners wanting to resell their units must find it tough to attract potential buyers, particularly when they have to compete with a big developer.

Most estate agents in the district, or even from outside, have focused on luring potential buyers to Cheung Kong's Central Park Towers II.

'We have no time to entertain clients who are interested in other projects. We will persuade them to shift to Central Park Towers II,' said Perry Fong Kai-ming, a sales director at Centaline.

No wonder transaction volumes in Tin Shui Wai plunged 60 per cent from a week earlier.

Say it with flowers

Tenants in Hong Kong are not as lucky as those on the mainland, Ah Pak says. Here, if tenants refuse to pay management fees, the property management company will take them to court.

But on the mainland tenants will be rewarded, says Ah Pak, because Chinese laws protect their rights and in a dispute management firms have no chance of winning. So what can they do?

'When tenants are unhappy with us, they will stop paying management fees. We will think of ways to make them happy. Once they smile, they will pay,' says a property manager. So what's the trick? Sending chocolates and flowers is effective, according to informal surveys conducted by mainland Ah Paks.

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