Cheung Kong ends the guessing with launch plans
After rivals set pace, developer announces sales timetable for Diva project, with others to follow
While Hong Kong's big name developers have rushed to lock in sales by launching new projects since October, the biggest player - Cheung Kong (Holdings) - has stayed on the sidelines.
The company's slower-than-expected sales schedule has puzzled the market, but the city's biggest developer in terms of market value says it is now ready to join the fray.
The company yesterday said it would launch the sale of its 118-unit residential development, Diva, in Electric Road, Tin Hau, by the end of this month or next month.
The project, on an old land lease and exempt from the need to obtain pre-sale consent, is the first new project to be launched by Cheung Kong since The Rise development in Tsuen Wan in September.
Executive director Justin Chiu Kwok-hung said the company had also obtained pre-sale consent for its Mont Vest development in Tai Po - with 1,350 units - this week.
That project would be offered for sale after the Lunar New Year, starting from January 31, he said.