High bar to filter interest in North Point flats

Business | Samantha Wong Nov 17, 2017
Sun Hung Kai Properties (0016) said it will put on the market 10 flats at its Victoria Harbour project in North Point next Friday, with sizes from 1,173 square feet to 1,599 sq ft.

The developer said interested buyers need to prepare two checks, HK$3.5 million in each one, to register their interest in the flats.

SHKP said the new project will provide 355 apartments in five towers, from 300-sq-ft studios to 1,600-sq-ft four- bedroom flats.

The project is being developed on the former site of the North Point Estate, which used to be the Eastern District's largest public housing estate with about 2,000 flats in seven 11-story blocks.

SHKP also launched the price list for Cullinan West II project in Sham Shui Po yesterday, pricing flats in the project at an average of about HK$21,000 per sq ft. The first batch of 238 flats that was offered for sale comprised 272-sq-ft studios up to 1,358-sq-ft four-bedroom homes. Cullinan West II will provide a total of 1,188 flats in two 45-story towers.

Construction of the project is expected to be completed in June next year.

The first phase of Cullinan West provided 1,050 units.

In 2010, SHKP won the Sham Shui Po site near the Nam Cheong MTR station for HK$11.8 billion, or about HK$4,500 per sq ft.

The project being developed on the site will produce a total gross floor area of 2.6 million sq ft, of which 2.3 million sq ft have been earmarked for residential use and about 300,000 sq ft for commercial use.

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