Developers are releasing more residential units in the New Territories on to the market as they adopt a positive view on demand in newly developed areas.
Emperor Investment will release another four units at JC Castle in Tai Po today following a strong response to an internal sale.
Elwyn Chan, general manager of the Emperor Group unit, yesterday said 33 apartments, about 40 per cent of the luxury residential project, had been sold. The four units, measuring from 1,308 to 1,705 square feet, are expected to command an average $2,602 per square foot, about 8 per cent more than previous flats.
The 77-unit project is expected to earn $400 million when sold out.
Still in the New Territories, Cheung Kong (Holdings) will today offer a new batch of eight units at Vianni Cove in Tin Shui Wai at an average $2,169 per square foot.
Cheung Kong senior sales manager Joseph Lau Kai-man said about 825, or 80 per cent, of the 1,091 flats had been sold, generating $1.24 billion.