CHEUNG Kong (Holdings) yesterday surprised the mass residential market by offering an 'attractive' asking price for the potential buyers of its Bayshore Towers at Ma On Shan.
Even though it is the first residential development to be controlled by the Government's new anti-speculation measures, which ban the re-sale of unfinished flats, property agents predicted that the project, at far below the market price, would arouse buying sentiment from the residential market and both end-users and investors would be attracted.
The public sale of 120 units in Block 4 and Block 5 will begin on October 12. Asking price is averaged at $4,399 per square foot, which is 10.2 per cent less than $4,900 recently offered by Henderson Land's Sunshine City, next to Bayshore Towers.
Another 56 units in the two blocks will be arranged for internal sale.
Cheung Kong executive director Katherine Hung said the attractive offer was designed to boost sales.
'We want to arouse buying sentiment through this first partial sale,' she said, hinting that the price would be increased if a strong response was received from the first phase sale.
