Sun Hung Kai Properties' Riva to offer buyers large properties
Villas, flats and houses at riverside development the biggest to go on sale in Yuen Long this year
In a break from the trend by developers to release smaller new homes, Sun Hung Kai Properties has launched a low-density riverside luxury residential project in Yuen Long that may appeal to those looking to upgrade to larger houses.
The launch of Riva comes amid the release of a large supply of new flats in single residential blocks in Kowloon offering units of 300 to 700 sq ft.
"Riva is the biggest residential project offering large flats, villas and houses to be released in Yuen Long this year," said Frankie Lam, sales manager at Hong Kong Property Services' Yuen Long branch.
The location has its critics, however, and Chinese-language newspaper Apple Daily reported on Monday that there was a foul smell in the area that appeared to be coming from the Kam Tin River, on whose banks Riva is located.
The South China Morning Post visited the site yesterday, but detected no evidence that the river was polluted or producing a foul smell. However, some units that face onto the nearby Tsing Long Highway will look onto a large power transmission tower opposite the development.
SHKP last week released a price list of the first batch of 50 homes to be released at Riva. The average price of the homes is HK$17,152 per sq ft on the basis of saleable floor area, or HK$12,747 per sq ft of gross floor area. The developer plans to offer the homes for sale this week.