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  • Oct 25, 2014
  • Updated: 1:24am
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PROPERTY

New high-life houses slated for Discovery Bay

Six 'super-deluxe' hilltop homes to be built in the coastal development, with the rich and famous expected to pay HK$150 million for each one

PUBLISHED : Monday, 18 February, 2013, 12:00am
UPDATED : Monday, 18 February, 2013, 2:50pm

Property developer HKR International plans to build six "super-deluxe" houses ranging in size from 6,000 to 8,000 square feet on the highest point of Discovery Bay.

"Each house will enjoy spectacular sea views and the project will be located next to the Discovery Bay Golf Club," said Chan Chi-ming, the head of the Hong Kong business unit at HKR, the developer of Discovery Bay.

Chan said site preparation was under way but he could not give an estimated date for the project's completion.

Simon Lee, an associate director at Centaline Property Agency's Discovery Bay branch, said the houses planned by HKR could fetch more than HK$150 million each.

"Due to their scarcity, they will be sought-after by the rich and famous," Lee said.

There are 17 houses on Discovery Bay, each of them 5,168 sq ft, with gardens ranging from 6,000 to 9,000 sq ft. One of the houses on Seabee Lane was on the market for HK$120 million, Lee said.

But no transaction has been recorded for any of these large houses since one with a 6,000 sq ft garden sold for HK$54.88 million in 2008.

Chan said negotiations with the government over the land premium payable for the proposed project, which will be the 16th phase of its developments at Discovery Bay, were at an "advanced stage". The development calls for a total built area of 185,000 sq ft.

"We hope to reach an agreement with the government on the land premium deal shortly," he said.

HKR has a land bank of 1.3 million square feet in Yi Pak Bay, in the northern part of Discovery Bay, and has also been in talks with the government over premiums on this land.

Chan also said the group's resort hotel, Auberge Discovery Bay, would have a soft launch next month.

The hotel would target the MICE business - meetings, incentives, conventions and exhibitions - as well as wedding receptions and leisure travellers.

"Lots of multinational corporates send their senior executives abroad, including to Hong Kong, for one or two-day training meetings every year. Our hotel will provide a venue for them."

Initial responses from all target markets, both in Hong Kong and overseas, had been very positive, said the company in an e-mailed reply.

Discovery Bay is a mixed, primarily residential, development comprising a residential component as well as private and public recreational facilities. It is located on the northeast coast of Lantau Island and the multistage development covers 650 hectares. It includes two bays, Tai Pak and Yi Pak bays.

In October last year, HKR launched a luxury apartment development called Amalfi on a hilltop overlooking Yi Pak Bay, attracting a strong response. The development comprises three mid-rise blocks that provide 164 flats, ranging from one to four bedrooms, and sized between 661 and 3,264 sq ft in terms of gross floor area.

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