Source:
https://scmp.com/property/hong-kong-china/article/1469893/discounts-developer-shkp-point-push-cash-flow
Property/ Hong Kong & China

Discounts from developer SHKP point to push on cash flow

Lures at Fanling project highlight developers' needs to offer incentives on stock of 2,000 flats for Easter presales amid rush to boost land banks

SHKP launched a new residential project with discounts. Photo: Reuters

Sun Hung Kai Properties launched its Mount One residential project in Fanling with significant price concessions and the offer of a one-year bridge loan equivalent to as much as 70 per cent of a flat's value as an added lure for buyers.

"Undoubtedly, developers need to provide an array of incentives and financing schemes to aid buyers looking for bigger units," said Wong Leung-sing, a senior associate research director at Centaline Property Agency.