Hong Kong property

Poly Property Group to launch sales drive for Vibe Centro in Kai Tak

PUBLISHED : Tuesday, 14 March, 2017, 6:10pm
UPDATED : Thursday, 13 July, 2017, 8:25am

Poly Property Group, the Hong Kong listed arm of state-owned China Poly Group, will be the latest developer to take advantage of strong buying interest to cash in on its new project in Kai Tak area.

The developer will kick off the marketing push for its first residential project, Vibe Centro, by opening four show flats for media viewing on Wednesday.

“The unit size of the project is comprised of studio flats starting from 200 square feet plus,” said a spokesman of Poly Property.
Vibe Centro features 930 units in four blocks.

Poly made its first foray into Hong Kong’s property market by paying HK$5.65 billion (US$730 million) for two residential sites since 2014. Three years ago, it won its first residential site, Kai Tak Area II Site 3, in Kai Tak area for HK$3.92 billion.

In 2015, Poly won its second site, designated for luxury residential purpose, in Tuen Mun for HK$1.73 billion.

Separately, Cheung Kong Property Holding said the marketing literature for Harbour Glory in North Point would be released this week.

“We will kick off a road show in London, Singapore, Beijing, Shanghai and Guangzhou in May,” the spokesman said.
Harbour Glory features 378 units in seven blocks ranging from 400 square feet to 1,600 sq ft.

The release comes amid fresh record breaking transactions in the secondary residential market.

On Monday a 438 sq ft at Grandiose in Tseung Kwan O sold for HK$6.58 million or HK$15,041 per sq ft, setting a record in the development. In Quarry Bay on Monday a 516 sq ft unit at Nan Fung Sun Chuen changed hands for HK$7.88 million, or HK$15,271 per sq ft, the ever highest for three-bedroom flats in the development, according to agents.