SHUN Tak Holdings is optimistic its plans to redevelop Chatham Gardens in Kowloon will go ahead, despite objections to the scheme.
'The disapproval from the eight owners will not stop us from proceeding with our original plan,' said group executive chairman Stanley Ho Hung-sun.
'We are confident that the [objections of the] owners' corporation will be dismissed and the matter will be resolved in six months.' Seventy-five per cent of the owners voted in favour of the redevelopment earlier this year but the Government turned down the company's plan because there were eight owners who opposed the project.
WI Carr analyst Alan Wong said that the eight owners opposing the project were not a major problem and would be compensated by Shun Tak for their property.
Mr Ho said the company would invest more than $10 billion in Belcher Gardens at Pokfulam.
He said the company was planning to have a controlling stake of 51 per cent in the development but an agreement had yet to be signed.
