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Consortium releases low-priced Tai Kok Tsui units

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A consortium led by Sino Land has announced the pre-sale of its airport station project Island Harbourview in Tai Kok Tsui at a lower than expected $4,288 per square foot for cash payment.

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Analysts said the development was regarded as the latest market indicator and described the pricing of the first 128 units as 'competitive'.

They said they expected the sale to generate an encouraging response.

Sino Land executive director Robert Lee Chi-hong said yesterday the sale of the first batch would take place on November 21 and interested parties were invited to register between next Monday and Wednesday.

Mr Lee said the pricing was aimed at arousing buying sentiment from new home buyers as well as existing property owners and investors.

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He declined to disclose the development cost but said it would be a profit-making development for the consortium.

Other developers in the consortium include Kerry Properties, China Overseas Land & Investment and DBS Land.

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