Sun Hung Kai Properties (SHKP) is offering a discount of up to 20 per cent on its Oscar by the Sea residential project in Tseung Kwan O.
The developer said the special offer would be restricted to employees of Television Broadcasts (TVB) and members of SHKP Club. However, agents suspect it could be extended.
The offer includes a 13.3 per cent price reduction and a maximum cash rebate of 6.7 per cent on the home price from banks.
The discount applies to 88 unsold units in tower eight, which were priced at about HK$3,500 per square foot before the reduction.
Eric Chow Kwok-yin, general manager of SHKP marketing arm Sun Hung Kai Real Estate Agency, denied the massive price cut was due to the abundant supply of flats in Tseung Kwan O.
Mr Chow said it was on offer to SHKP Club members and TVB staff in light of the project's proximity to the broadcaster's TV City in Sai Kung.
