Wharf, Nan Fung win pre-sale consents

Wharf (Holdings) and Nan Fung Development have secured government approval to pre-sell two residential projects involving about 3,000 unfinished flats.

The projects include 1,704 units in phases one and two of Wharf's Bellagio in Sham Tseng and a 1,264-unit development by Nan Fung in Tsuen Wan.

Wharf assistant director Ricky Wong Kwong-yiu said the group intended to release Bellagio phase one, comprising 840 units to be completed this year, for sale early next month. He expected higher-floor units with sea views to be priced at HK$3,500 per square foot.

Phase two, whose units will be finished by April, would not be released until next year, he said.

Nan Fung's Tsuen Wan project is expected to be completed by October next year.

Analysts said developers would be more active in launching residential projects for sale this month and next after receiving pre-sale consents. Tsuen Wan and surrounding areas are expected to become a new battleground.