Wharf (Holdings) is considering retaining some of the flats in its Sorrento development at Kowloon Station for lease instead of sale in the face of a supply flood in the area.
Ricky Wong Kwong-yiu, director of Harriman Realty, marketing arm of Wharf, said phase one of Sorrento would be released for sale in the fourth quarter, while some of the units in phase two would be retained for lease.
The move would enable a more balanced supply of flats and there was leasing demand in the district.
He said more developers appeared to be leasing their urban flats because they foresaw supply was on the decline.
Wing Tai Asia has retained tower five of The Waterfront, also a property project at Kowloon Station, for lease while Shun Tak Holdings also reserved some units at The Belcher's in Western District for rent.
Sun Hung Kai Properties also indicated that some flats at Park Island in Ma Wan would be leased rather than sold.
Mr Wong said Wharf would see if its partner, MTR Corp, wanted to retain some flats for lease.
