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Apartment glut looms in West Kowloon

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Home buyers will be spoilt for choice in West Kowloon as more than 10,000 residential units are scheduled for completion by the end of the year.

The sizeable supply will probably continue to put pressure on prices in the district, according to estate agents.

The most eye-catching development is Cheung Kong (Holdings) and Sun Hung Kai Properties' joint venture - The Pacifica in Cheung Sha Wan, which comprises 2,256 residential units in six towers.

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Phase one, which is expected to be launched shortly, provides 1,080 units measuring 585 to 845 square feet in three towers due to be completed by the end of next year.

A rival project next to The Pacifica is being built by a consortium led by Hang Lung Development; 1,616 units were available for sale this year, according to Midland Realty West Kowloon district manager Dick Wong Yin-ping.

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The development was designed to mix with some subsidised units for sale under the Home Ownership Scheme, but Hang Lung had earlier secured government approval to pre-sell all the units in the private market, she said.

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