HK (+852) 3990 0799

億京等鯨吞九龍灣國際展貿中心 斥二百億建地標甲廈 余卓兒動亂期間「覓盤」 商談19個月終得手


疫市下錄矚目大手成交,九龍灣國際展貿中心由億京牽頭財團體以一百零五億元鯨吞,該集團主席余卓兒早於十九個月前,當政治事件所引發的動亂演得最激烈時「覓盤」,並鎖定該項目,日前終於落實交易,計畫重建地標甲廈,總投資額約二百億。

本報昨日獨家披露,九龍灣國際展貿中心全幢以一百零五億易手,億京集團主席余卓兒昨日向本報證實,日前就該項目簽署正式買賣合約,作價一百零五億元,以買公司形式承接物業,集團牽頭佔有七成權益。

億京佔七成 夥伴包括資策

他續說,項目佔地逾二十三萬方呎,可塑性高,以現址總樓面逾一百七十七萬方呎計算,呎價僅五千九百多元,令他感到滿意!儘管項目可透過補地價,將地積比由目前的七倍提高至十二倍,重建總樓面可達二百九十萬方呎,惟他們打算維持原有地積比,重建後總樓面將與現址一樣!他解釋說,有兩個原因,建築物密度較低,環境舒適,而且不用補地價,省時兼具效率。

他表示,東九龍甲廈供應多,目前商廈市況一般,他與合作夥伴有共識作「兩手準備」,假若後市欠佳、賣樓拆售套現不容易,將作為長綫收租。根據初步計畫,整個發展項目總投資額約二百億,重建為綜合式商場及寫字樓,打造成為區內地標甲廈,其中一幢寫字樓將規限作全幢形式出售,商場則由發展商保留長綫收租。余卓兒又說,他亦曾研究重建住宅,發現並非理想的選擇,改規劃及補地價需時,而且附近有多條天橋帶來噪音,環境不合適。

發展共識作「兩手準備」

余氏續指,港島核心區難覓商廈地皮,即使九龍尖沙嘴亦缺乏新供應,惟有向觀塘及九龍灣埋手。「惟觀塘區併樓難度非常高,即使要找一幅面積三萬方呎的地皮,也不容易!在發展商眼中,地皮夠大才有氣勢,至少五萬呎,才能剪裁打造地標項目!」

事實上,余卓兒早於二○一九年十月,當政治事件所引發的動亂演得最激烈時,吼中該幅佔地逾二十三萬方呎的九龍灣國際展貿中心全幢,頻向合和實業洽購,最初出價不足一百億,直至日前落實以一百零五億成交,足足歷時十九個月,他笑言:「此時冇人吼,皆因項目規模龐大,而且,大家都將注意力投放在住宅市場。」際此期間,他研究項目發展潛力,並尋找夥伴參與,最終由億京牽頭,拍檔包括有資本策略,至於早前市場一度盛傳有份參與的信和,最終並沒有參與。

最初出價不足一百億

余卓兒證實億京佔七成權益,惟他表示不方便透露拍檔詳情及所持份額。本報昨日亦聯絡資本策略,主席鍾楚義回應:「集團佔很少份數,詳情日後透露。」

九龍灣國際展貿中心地皮由合和及長實於一九八七年聯手投得,各佔五成權益,隨後合和買下長實權益,成為獨資發展商,並於一九九五年落成。由於項目地皮本來屬工業與展覽用途,落成初期只作陳列室、展覽場地及會議室,及於二零零五年初,合和向政府補地價二億一百八十二萬,將部分樓面轉作零售與寫字樓用途。

(星島日報)

更多九龍灣國際展貿中心寫字樓出租樓盤資訊請參閱:九龍灣國際展貿中心寫字樓出租

更多九龍灣區甲級寫字樓出租樓盤資訊請參閱:九龍灣區甲級寫字樓出租

 

星光行高層海景戶意向價4269萬

代理表示,尖沙咀星光行高層17至18室,面積約2189方呎,以約4269萬元放售,呎價約1.95萬元,將於7月交吉。

該行指出,是次放售單位屬星光行罕有放盤,貼近電梯大堂,並靠近維港海旁的方向及享海景。單位更會連全寫字樓裝修出售,節省裝修成本及時間,新買家可靈活作自用或投資用途。

(信報)

更多星光行寫字樓出售樓盤資訊請參閱:星光行寫字樓出售

更多尖沙咀區甲級寫字樓出售樓盤資訊請參閱:尖沙咀區甲級寫字樓出售

 

市建紅磡庇利街項目招意向 建灝6.18億奪橡樹街重建地盤

市區重建局 (下稱市建局) 近年啟動多個重建項目,陸續進入可推出招標的收成期。其中於上月接獲14份標書的大角咀橡樹街/埃華街重建項目 (下稱橡樹街項目),由首度奪得市建局項目的建灝地產以約6.18億元中標,作價符合市場預期。市建局隨即推出紅磡庇利街/榮光街大型重建項目(下稱庇利街項目)周五(11日)起招收意向書,可建樓面面積達71.75萬方呎,屬近7年最大規模的市建局項目,市場估值動輒高達107.6億元,6月25日截收意向。

羅建一:橡樹街擬建中小商住盤

上月收到14份標書的橡樹街項目,佔地約6663方呎,可建樓面面積約6萬方呎,獲長實 (01113)、其士國際 (00025)、遠東發展 (00035) 和信置 (00083) 等入標,最終由建灝地產旗下達創集團有限公司以約6.18億元投得,屬市場估值約5.4億至9億元的範圍之內,每方呎樓面地價 (下稱樓面呎價) 約10308元。

建灝地產首席行政總裁羅建一對中標感到高興,指出該集團首次投得市建局項目,認為橡樹街項目交通便利和配套完善,初步計劃興建中小型優質商住盤。他形容中標價合理,展示該集團對香港商住項目的發展潛力充滿信心,並強調本港住屋剛性需求非常龐大,特別是對中小型住宅項目更是殷切。

資料顯示,建灝地產對上一次於官方市場購入土地,是2019年8月以約2.44億元投得賣地表屯門景秀里與景峰徑交界住宅地,並已於今年4月提出預售樓花申請,提供112伙,預計2023年7月入伙。

庇利街可建72萬呎 估值107

市建局近年啟動紅磡和土瓜灣一帶多個重建項目,並以小區形式作總體規劃。是次登場的庇利街項目早於2016年3月啟動重建,屬於首個成熟可推出市場的地盤。該項目佔地約7.97萬方呎,毗鄰私人住宅項目環海.東岸,與即將啟用的港鐵 (00066) 屯馬線土瓜灣站僅相距約5分鐘步程,可建樓面面積約71.75萬方呎。市建局2016年已預計該地盤的發展期長約10年時間,預計興建約1150伙,並設有約11.95萬方呎的商業及零售樓面面積。

近年市建局推出招標的重建項目,以樓面面積不足20萬方呎的中小型地盤為主,是次庇利街的可建樓面面積達71.75萬方呎,已是2014年觀塘市中心第二及第三發展區 (現已發展為凱滙) 提供逾100萬方呎樓面面積以來,近7年登場的市建局重建項目中規模最大的一個。

市建局指出,中標庇利街項目的發展商,須按發展協議中列明有關九龍城土瓜灣小區發展項目總體設計上的要求,與毗鄰的重建項目產生協同效應,以達致整個小區的重整及規劃更完整和一體化,促進該小區的連接性和步行環境,並以更豐富的「地方營造」及智慧元素,提升該區的宜居性。發展商也要按發展協議中列明的標準與品質、可持續發展和智能系統的要求,興建新發展項目。

港鐵屯馬線二期將於本月27日通車,屆時土瓜灣站正式啟用。泓亮諮詢及評估董事總經理張翹楚指出,市建局趁此時機推出庇利街項目,正好受通車消息帶動,加上項目規模龐大,勢吸引大型發展商爭奪,估計日後建成出售呎價2.2萬至2.5萬元也不成問題。市場人士估計,該地皮的樓面呎價約1.3萬至1.5萬元,估值93.3億至107.6億元。

(信報)

 

鷹君羅氏家族購油塘工廈

工廈物業有價有市,備受財團追捧。鷹君羅氏家族成員以5200萬,購入油塘華順工業大廈高層多個單位,呎價約3095元,屬市價。

成交價5200

據土地註冊處資料,油塘草園街4號華順工業大廈高層B至D、G及H室,於上月以5200萬連車位售出,買家為Sunrise Success Limited,註冊董事為鷹君羅氏家族成員羅嘉瑞及羅俊謙等人士,前者為鷹君集團主席兼董事總經理,後者為該集團執行董事。

「紡織大王」家族成員沽貨

據業內人士指出,上址總樓面約1.68萬方呎,呎價約3095元,屬市價水平。

同時,資料亦顯示,原業主為百樂恒有限公司,註冊董事包括「紡織大王」陳瑞球女兒陳淑玲等人士,於1996年以約847萬買入,持貨近25年帳面獲利約4353萬,單位升值約5.1倍。

(星島日報)

 

建灝6.2億 奪市建局大角咀項目

樓面呎價10308 擬建中小型優質商住宅

市建局昨日公布,就旗下大角咀橡樹街/埃華街項目,向建灝地產集團批出發展合約,涉6.181億元,每呎樓面地價約10,308元,稍微低於早前市場估值下限約6%。

該項目位處橡樹街89至95號 (單數) 及埃華街1至5號,地盤面積6,663平方呎,可建樓面約59,966平方呎,當中包括約1萬平方呎的商業樓面,及約5萬平方呎的住宅樓面。以中標價計算,每呎樓面地價約10,308元。

預計總投資額約9.48

建灝地產首席行政總裁羅建一表示,集團很高興是次能投得該合作發展項目,價錢屬合理水平,展示集團對香港商住項目發展潛力充滿信心。他再稱,初步計劃將項目發展為中小型優質商住宅,建構一個可提升社區生活環境的可持續發展項目。

若以每平方呎建築成本約5,000元計算,連地價及10%發水樓面,預計項目的總投資額約9.48億元。而若加上利潤及8成實用率推算後,估計日後項目推售實用呎價約21,558元。不過,參考目前區內新盤利‧晴灣23 (平均實用呎價2萬)、半新盤奧朗‧御峰 (平均呎價約1.77萬),略高於現時同區一、二手呎價水平。

土瓜灣庇利街項目 邀意向

消息透露,發展商需以一筆過前期費用決勝負,以價高者可投得地皮。市建局亦規定,賣樓收益達到12.5億元後,便須與當局分紅,首3,000萬元分紅比例為20%,及後每增加3,000萬元,分紅比例將遞增10%,最高為50%。綜合市場資訊,地皮估值約6.6億至9億元,每呎樓面地價介乎1.1萬至1.5萬元。

另外,市建局昨日亦就土瓜灣庇利街/榮光街項目,邀請發展商提交意向書,截止日期為本月25日 (周五)。成功投得本項目的發展商需要按發展協議中列明有關九龍城土瓜灣小區發展項目的總體設計要求,以促進小區的連接及步行環境。項目地盤面積約79,718平方呎,可建樓面約71.7萬平方呎,大約可提供1,300伙。

(經濟日報)

 

九龍城住宅地盤 鄧成波家族6億沽

鄧成波家族繼續出貨,以約6億元沽出九龍城衙前塱道一住宅地盤。

市場消息指,九龍城衙前塱道3至13號逾9成業權,以約6億元成交。據悉,該物業現為一幢落成於1967年樓高6層之商住大廈,地下至3樓為商舖,4至5樓為住宅,實用面積合共約3.3萬平方呎。據了解,該項目由鄧成波家族持有,涉及整項目約97%業權,尚欠兩地舖便統一業權。

地盤面積約7,030平方呎,城市規劃為「住宅 (甲類) 2」用途,高度限制由主水平基準起計80米,最大可建樓面面積約63,270平方呎。

據悉,項目以約6億元成交,料新買家購入後,再申請強拍以統一業權,再重建成住宅。事實上,港鐵屯馬綫通車在即,九龍城配套將更完善,吸引財團部署日後推出住宅項目。

傳新買家為遠洋集團

市場人士透露,新買家為內房遠洋集團 (03377) 或有關人士,而該集團近期亦有推售旺角住宅項目千望。本報就有關消息,向遠洋集團查詢,集團表示對消息不作回應。

(經濟日報)

 

IWG集團:靈活辦公室 疫後需求更大

疫情下機構控制成本,對寫字樓租務需求有轉變。經營共享辦公室的IWG集團表示,疫後機構對靈活辦公室需求更大,故該集團有擴充空間。

環球疫情持續1年多,很多大型機構因應市況,縮減辦公室樓面以節省成本,而早年擴充甚積極的共享空間品牌,更連環棄租寫字樓。不過,IWG集團卻甚為積極,過去半年連環接手多個WeWork棄租的辦公室,包括銅鑼灣希慎廣場3萬平方呎,涉及兩層,連同九龍東海濱匯1座及2座5樓全層共5萬平方呎,以及尖沙咀港威大廈,集團短時間內接手3幢甲廈樓面,作為旗下品牌Signature之用。

香港共17據點 風格多元化

IWG香港區經理Paul MacAndrew指出,集團自1999年在港發展,旗下擁多個不同品牌包括REGUS、SPACES及Signature,合共17個據點,各品牌走不同風格,「REGUS屬商務中心,較為傳統企業類型,SPACES則時尚一點,Signature則為兩者之間,可讓租客選擇。」

集團租用希慎廣場樓面,會員入場費每月約2,380元起,可享辦公桌 (Hot Desk),另外亦有獨立房間計劃等,而所有會員均可享辨公室內的設施包括茶水間、會議室等。據悉,目前出租率已逾9成,「之前有租客遷出,好快便有新租客進駐。」

2016至2018年是共享空間行業在港的擴充期,多個品牌租樓面設據點,及後個別品牌傳出經營困難消息,尋找頂手甚至棄租。Paul認為,現時行業進入整期,共享辦公室吸引力仍然強勁,「最大優點就是靈活,包括面積、租約期長短,而新租客可節省一大筆裝修費,兼有不同行業人士在共享空間內互相交流。」

企業提供多個方案 讓員工選擇

疫情令不少大型機構對成本更加謹慎,個別更需要減樓面,以節省開支。Paul指出,疫情出現新常態,更有利共享空間行業發展,「無論是初創公司或跨國企業,都積極尋求不同的營運方法及改革工作空間。實際上這個趨勢已持續數年,疫情只是扮演當中催化劑的角色。」他分析,機構採靈活工作安排,令行業更有擴充空間,「疫情下企業採新策略,提出靈活工作地點的措施,員工減少了在總部工作的時間。疫情後相信在家工作仍會繼續,共享空間好處,就是可給予機構多一個選擇,讓員工靈活在不同地點上班。」

共享空間興起,歐美、亞洲等均有新成立品牌,面對市場競爭,Paul認為IWG仍擁很大優勢,「一是經驗,我們擁有32年歷史,最重要是規模大,在全球多個國家合共3,000多個據點,規模大予人信心。」香港方面,他指仍有一定擴充空間,「下年仍會繼續擴充,的確租金比之前便宜,而我們的模式是與商廈業主互相合作。香港是集團的重點市場之一,亞洲區上,中國、新加坡均是重點。」

(經濟日報)

更多希慎廣場寫字樓出租樓盤資訊請參閱:希慎廣場寫字樓出租

更多銅鑼灣區甲級寫字樓出租樓盤資訊請參閱:銅鑼灣區甲級寫字樓出租

更多海濱匯寫字樓出租樓盤資訊請參閱:海濱匯寫字樓出租

更多觀塘區甲級寫字樓出租樓盤資訊請參閱:觀塘區甲級寫字樓出租

更多港威大廈寫字樓出租樓盤資訊請參閱:港威大廈寫字樓出租

更多尖沙咀區甲級寫字樓出租樓盤資訊請參閱:尖沙咀區甲級寫字樓出租

 

黃竹坑甲廈呎價破頂 呎租升2%

近期港鐵黃竹坑站上蓋住宅項目晉環推售,市場反應理想,氣氛亦蔓延至同區寫字樓市場。有代理發表的報告指出,近期黃竹坑甲廈連錄多宗破頂成交個案,帶動區內最新平均呎價升至1.95萬元的新高,呎租按月亦升近2%。

代理指出,自活化工廈1.0政策推出,以及港鐵南港島綫通車後,黃竹坑逐漸轉發展成為新商圈,適逢近期該區有港鐵上蓋住宅項目推售,令該區重新成為焦點,而相對之下,寫字樓價格較為低水,因而吸引部分資金流入,例如區內指標甲廈One Island South,近期亦連錄2宗高價買賣。

代理指,近年黃竹坑逐漸轉型成新商業區,但受制於配套不足,尤其缺少零售樓面,限制該區過往租售價升幅,但隨着黃竹坑站項目陸續完工,包括預計2023年落成、樓面約50萬平方呎的黃竹坑站商場,以及港鐵南港島綫 (西段) 可望動工,將吸引更多人願意到黃竹坑落戶,為該區帶來根本性轉變。

One Island South呎售2.46

該報告指出,近月黃竹坑連錄多宗破頂成交,最為矚目的要數One Island South一個中層面向城市景的單位,以每呎約2.46萬元沽出,創下黃竹坑商廈新高紀錄。租務方面,4月份該大廈一個低層城市景單位,也以每呎約38元租出,同樣創該廈新高。此外,同區的乙級商廈W50,呎租也重上30元水平。

受到多項高價成交刺激,5月份黃竹坑寫字樓租售價顯著上升,當中甲廈平均呎價按月急升15%,至每呎19,491元的新高紀錄,至於平均呎租按月也升1.7%,至26.2元的水平,但與2019年歷史高位的30.4元仍有一段距離。

整體寫字樓的租售價表現亦向好,5月份甲廈價格按月升2.1%,租金亦升2.1%,上月除了黃竹坑之外,表現較佳的區域為中環,按月升約6.1%,最新平均呎價升至3.9萬元,主要受到指標甲廈皇后大道中九號一宗成交帶動。至於整體乙廈售價,按月亦升0.4%。

(經濟日報)

更多One Island South寫字樓出售樓盤資訊請參閱:One Island South寫字樓出售

更多黃竹坑區甲級寫字樓出售樓盤資訊請參閱:黃竹坑區甲級寫字樓出售

更多W50寫字樓出租樓盤資訊請參閱:W50寫字樓出租

更多黃竹坑區甲級寫字樓出租樓盤資訊請參閱:黃竹坑區甲級寫字樓出租

更多皇后大道中九號寫字樓出售樓盤資訊請參閱:皇后大道中九號寫字樓出售

更多中環區甲級寫字樓出售樓盤資訊請參閱:中環區甲級寫字樓出售

 

Billion closes $10.5b KITEC deal

A consortium led by Billion Development and Project Management plans to acquire Kowloon Bay International Trade & Exhibition Centre for about HK$10.5 billion from Hopewell, The Standard's sister newspaper Sing Tao Daily reported.

This is expected to be the largest property transaction year-to-date if the deal is confirmed. With a gross floor area of 1.77 million square feet, the per-sq-ft price will be about HK$5,900.

The consortium has arranged syndicated loans for the acquisition and has worked out two renewal plans.

The 14-story KITEC has a site area of about 239,800 sq ft. If it is redeveloped, the gross floor area can be 2.87 million sq ft, with a plot ratio of up to 12 times. The per-sq-ft rent at KITEC is around HK$20.

Apart from redeveloping the property into a Grade A commercial building, the consortium may also apply to the Town Planning Board to rezone the site for residential purposes, the sources said, adding that the new buyers value the large site area of the project and the sea view.

The consortium is said to include Sino Land (0083) and CSI Properties (0497), the report said.

Billion Development, Sino Land and CSI Properties won the tender for a commercial plot at the junction of Cheung Yip Street, Sheung Yee Road and Wai Yip Street in Kowloon Bay for HK$3.04 billion in 2015.

The plot has a site area of 40,849 sq ft and a maximum gross floor area of 490,188 sq ft.

Meanwhile, the Urban Renewal Authority said the contract for the development of the Oak Street / Ivy Street Development Project in Tai Kok Tsui has been awarded to K&K Property, with a tender amount of HK$618.1 million.

The URA earlier invited 39 property developers to submit tenders for the project following an expression of interest exercise. The URA received a total of 14 tenders from these 39 property developers when the submission of tender closed on May 20.

The project, which covers a site area of 6,662 sq ft, was commenced in March 2018. Upon completion, it will provide a maximum total gross floor area of 59,965 sq ft.

The URA will also invite interested developers to submit expressions of interest for the development of the Bailey Street / Wing Kwong Street Development Project in To Kwa Wan today.

(The Standard)

For more information of Office for Lease in KITEC please visit: Office for Lease in KITEC

For more information of Grade A Office for Lease in Kowloon Bay please visit: Grade A Office for Lease in Kowloon Bay

For more information of Grade A Office for Sale in Kowloon Bay please visit: Grade A Office for Sale in Kowloon Bay

 

Hong Kong’s co-working sector set to stabilise, recover as balance returns after years of unbridled expansion

Hong Kong’s co-working industry is recovering as many operators have folded following years of overexpansion, agent said

Hong Kong has the third largest number of co-working spaces in the world after London and New York, according to survey by UK firm CircleLoop

Hong Kong’s co-working sector is on track to stabilise and recover after a period of rapid expansion and will be well supported by the shift to remote working, industry observers say.

The co-working industry in Hong Kong is getting better now after adjustments made in the last few quarters, agent said.

“Previously many operators were in overexpansion mode, but then the market adjusted and many closed down and disappeared, creating a new balance point between supply and demand,” the agent said. “We think it will stabilise again towards year-end.”

The shared office space sector in Hong Kong saw high levels of growth between 2016 and 2018 when several operators announced expansion plans only to beat a hasty retreat after the economic downturn spurred by the social unrest in 2019 and the coronavirus pandemic sapped demand.

WeWork, the New York-based shared office provider, has reduced its Hong Kong footprint by half, after giving up 90,000 sq ft of space spread over eight floors in Tower 535 in Causeway Bay. The closure of the flex office was largely related to HSBC, which decided to relocate its business division from the WeWork space to their own building in Central, according to another property agent.

However, some flexible workplace operators, such as IWG, were expanding on the back of their global partnership with Standard Chartered. The bank’s 6,000 employees in Hong Kong can work at any of IWG’s offices after the lender implemented a flexible working arrangement last year.

This month, IWG opened its third centre in the city – a 50,000 sq ft flex office at The Quayside office tower in Kwun Tong, said Paul MacAndrew, country manager for IWG.

Another co-working operator, theDesk, said that all its seven locations in the city had high occupancy. Following a 65 per cent growth in membership last year, the company is “seeing a continuing growth trend” this year, said Paul Johnson, its chief commercial officer.

Separately, a survey by a UK-based company in May found that Hong Kong had the third most number of co-working spaces in the world after London and New York. Hong Kong had 166 co-working spaces, behind 313 in London and 229 in New York, according to the survey by CircleLoop, which operates a cloud-based business phone system.

“No one can deny that the 2020 pandemic has had a lasting impact on the way that companies work for good,” CircleLoop said. “As part of remote working, completing your workday from co-working spaces is a concept that businesses are taking advantage of more than ever before.”

The pandemic has been a game changer, creating instant disruption to the traditional workplace culture, while workers and companies adapt to the change, theDesk’s Johnson said.

With the remote working trend and decentralisation of workforce being implemented by multinational companies, the co-working industry is here to stay, he added.

(South China Morning Post)

For more information of Office for Lease in Tower 535 please visit: Office for Lease in Tower 535

For more information of Grade A Office for Lease in Causeway Bay please visit: Grade A Office for Lease in Causeway Bay

For more information of Office for Lease in The Quayside please visit: Office for Lease in The Quayside

For more information of Grade A Office for Lease in Kwun Tong please visit: Grade A Office for Lease in Kwun Tong

 

Developer China Vanke’s Hong Kong unit sets prices for Ho Man Tin project 3 per cent above secondary market

First batch of 50 units at Vau Residence will be offered at an average price of HK$24,519 per square foot after a discount of as much as 16 per cent

Vanke will also offer cash rewards to the first 50 fully vaccinated buyers

Vanke Holdings (Hong Kong), a unit of China Vanke, China’s third-largest developer, will launch a new residential project in Ho Man Tin at prices in line with those of the secondary market.

The price list for a first batch of 50 units measuring 209 sq ft to 388 sq ft at Vau Residence was launched on Thursday. The units will be offered at an average price of HK$24,519 (US$3,160) per square foot after factoring in a discount of as much as 16 per cent. Vanke has not announced a starting date for the sales yet. The development will have 165 units in total.

The prices announced on Thursday are 3 per cent higher than those of units at Seven Victory Avenue, a two-year-old development that is within walking distance of Vau Residence. The units at Seven Victory Avenue were selling for HK$23,820 per square foot, according to property agency.

“It is common practice for developers to offer their first batch of units at competitive prices, to draw buying interest. Builders will increase prices for the subsequent batches, once they have generated strong sales,” agent said.

The price list’s launch comes amid growing optimism that Hong Kong home prices will climb further this year as the city’s economy shows further signs of recovery. On Tuesday, US investment bank Goldman Sachs said it expected a 5 per cent rise in home prices this year, while property agent has forecast a 15 per cent increase.

“The launch prices have taken into reference the first and second-hand transaction market. We will not rule out the possibility of increasing prices for the following batches,” said Quincy Chow, Vanke Holdings (Hong Kong)’s executive director.

The strategy of raising prices for subsequent batches has been adopted by Hong Kong property company New World Development (NWD). After all 331 units at its Pavilia Farm III next to Tai Wai Station were sold on their first day of sales last weekend, NWD has raised prices for the second batch of 388 units to HK$22,600 per square foot, a 13 per cent increase over the launch price of HK$19,999 per square foot offered about a week ago. The second batch goes on sale this Saturday.

Vau Residence would attract both end users and investors, the agent said. “We have seen a sharp rise in home sales in the primary and secondary markets. It reflects buying confidence, which has been boosted by the gradual improvement in economic activity. The reopening of the border later is bound to enhance the sales momentum, when more mainland Chinese are free to visit Hong Kong,” the agent said.

Vanke will also offer a cash reward of HK$28,000 to each of the first 50 Vau Residence buyers who have had their Covid-19 vaccinations before August 31. Vanke said it expects the cash reward will cost it about HK$1.4 million in total.

(South China Morning Post)