Sino Land has set the average price of the first 28 apartments on public sale in its 50 per cent-owned Dynasty Heights in Beacon Hill at $5,771 per square foot, way below the average development cost of more than $8,000 per square foot.
Estate agents said the pricing was competitive compared with nearby luxury properties in the secondary market.
Meanwhile, Cheung Kong (Holdings) said it had sold 100 remaining flats in its Tierra Verde joint venture above Tsing Yi Airport Station in the past two days.
Cheung Kong on Monday announced the sale of the units in upper floors of Tierra Verde at $4,648 per square foot and the lower floor units at $4,213 per square foot.
The first-batch Dynasty Heights apartments, which will be officially launched on November 7, are priced at between $3.73 million and $10.08 million.
Sino Land will register buyers between Tuesday and Thursday next week.
Sino Land chairman Robert Ng Chee Siong said property market sentiment had improved since the Government launched measures to stabilise the local economy.
