CHINA Overseas Land and Investment expects to earn about $200 million from the sale of flats in its residential and commercial development in Wan Chai.
Yanville, the 55,000 sq ft development with a two-storey retail podium and 88 flats, will be put on public offer in stages from the middle of the month.
Siu Siu, a director of China Overseas Property Agency, which is controlled by China Overseas Land, said about 40 apartments would be on offer initially.
He said the price had yet to be set but he estimated it to be in the region of $5,000 per sq ft.
'The sale price will be around the level for flats in the area,' he said.
The four flats on each floor measure 427 sq ft, 443 sq ft, 475 sq ft and 488 sq ft.
No decision had been made on whether to sell or lease the 15,000 sq ft retail podium, he said.
