Belair Monte attracts poor internal response

Developers of Belair Monte in Fanling have received a slow internal sales response, due partly to the project's inferior location, agents say.

The consortium of developers offered 240 units in Block 5 at an average price of $2,788 per square foot for the internal sale, slightly higher than the $2,750 per square foot for the 128 units offered for public sale on January 3.

The development, comprising 1,680 units, is a joint venture between 11 developers including Cheung Kong (Holdings), Henderson Land Development, Sino Land and Sun Hung Kai Properties. New World Development is the project and marketing manager.

Midland Realty's Fanling district sales manager, Francis Chung Yiu-shing, attributed the slow response to the location, because internal sales catered only for employees of the developers.

New World Development sales and marketing senior manager Barbara Ho said only 240 units were released for internal sale - less than 20 per cent of the total units - with a view to allocating more units for public sale. She said the sales result was satisfactory.

Up to 336 units can be released for internal sale.