Shun Tak Holdings has said that more than HK$6 billion(US$770 million) has been generated from sales of One Central Residences, the company’s joint-venture luxury residential project in Macau with Hongkong Land.
About 90 percent of the apartments have been sold, the company said.
Some units sold for as much as HK$6,300 psf.
One Central Residences, which has 796 units in total, kicked off sales early last November when it sold an entire block of 68 flats to an insurance company from Iceland for HK$782 million, or about HK$4,400 psf.
Shun Tak is preparing to launch pre- sales of its mixed-use project, the recently-named Harbour Mile, at a Nam Van site adjacent to the Macau Tower by end 2007.
In its latest interim results ending June 30, 2006, Shun Tak said the project would also include a casino.
Evaluating the prospects for the property market in Macau, Leung pointed out local Macau residents accounted for between 10 percent and 20 percent of all residential transactions last year.
But Leung’s comments could not arrest the 5.76 percent slide in Shun Tak’s share price Wednesday to HK$10.48.
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