Market Chatter: Sun Hung Kai Properties Sells Majority of Units at Kai Tak Project

MT Newswires Live10-07

Sun Hung Kai Properties (HKG:0016) sold 204 apartments at its development on the old airport at Kai Tak as of Saturday, the South China Morning Post reported the same day.

The developer, Hong Kong's largest by market capitalization, offered 300 units for sale at phase 1 of the Cullinan Sky project, the report said.

The 204 apartments were sold based on their prices while 96 were up for tenders, the report said, citing agents.

Appetite for homebuying has increased due to interest rate cuts and the surge in Hong Kong's stock market, the SCMP said, citing Midland Realty residential division chief Sammy Po Siu-ming.

Forty percent of homebuyers were from mainland China, the report said, citing Po.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $90.80, Change: $+1.0, Percent Change: +1.11%

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