Update | CK Hutchison offers discounts for first batch of Hemera units

CK Hutchison Holdings is offering a discount of nearly 20 per cent for its new batch of units in Tseung Kwan O, selling them at prices that are up to 10 per cent lower than the going rates for existing units in the area.

The firm is selling the first batch of 330 units at Hemera, the largest housing project since the Hong Kong Monetary Authority tightened mortgage lending.

The units on offer at the development, which sits atop MTR Corp’s Lohas Park station, are priced at HK$9,863 to HK$12,402 per square foot of saleable area, or HK$7.35 million to HK$14.12 million each. Factoring in the maximum discounts, prices come to HK$8,088 to HK$9,983 per square foot, or HK$6.03 million to HK$11.37 million.

“The discounted price will be about 10 per cent lower than the current transaction prices at nearby projects,” said Sammy Po Siu-ming, the chief executive of Midland Realty’s residential department.

Units at The Capitol were going for about HK$9,000 per square foot, he said.

The discounted prices at Hemera are also 24 per cent below K Wah International Holdings’ Twin Peaks near Tseung Kwan O station.

On Sunday, K Wah released the first batch of 108 flats at Twin Peaks, pricing them at an average HK$13,700 per square foot of saleable area. With discounts of up to 15.5 per cent, prices come to HK$11,608 per square foot, also about 10 per cent below current transaction prices in the area.