Henderson Land Development plans to speed up project launches in the second half of this year after an almost eight-month absence from property sales.
Henderson Land, Hong Kong's third-largest property developer, plans to launch a 95-unit residential project, CentrePlace, at No 1 High Street, Mid-Levels West, shortly.
The developer's unit sales this year would not be less than those of last year, Henderson Land sales general manager Tony Tse Wai-chuen said. The company earlier set a sales target of 3,000 units for the year. 'We will accelerate the sale of new projects in the second half of this year,' he said.
Hong Kong's developers have been slow in launching new projects and selling flats amid rising interest rates.
Overall property sales shrank further to 20 units over the past weekend, against 70 units sold in the previous week.
JP Morgan analyst Raymond Ngai said the slowdown was due to a weakening of buying sentiment amid a slumping stock market and price cuts in the secondary market.
Henderson Land would meet earnings forecasts for the year to June 30, if it brought forward the planned completion next year of CentreStage at Hollywood Road, Mr Ngai said.
