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.

Originally posted 2007-02-01 15:44:53.

• HK’s Daido buys $43 mln stake in a Macau hotel HONG KONG, June 8 (Reuters) - Concrete products distributor and property investor Daido Group Ltd. plans to buy a 12...
• Grand Emperor Hotel Macau profit up 34.2% Emperor International Holdings Limited and Emperor Entertainment Hotel Limited announced their final results for the 12 months ended March 31...
• Melco stock falls on Stanley Ho's comments Well it is interesting to note that Las Vegas Sands, Wynn Resorts and PBL stock hardly moved. Stanley Ho has...

• Macau General News December 2007 Packer gets Crowned Fitch Ratings will lower the credit rating for James Packer's gambling concern - Crown Limited - after its decoupling from the PBL...
• MGM Grand Macau Relaunch Brand With New Marketing A resplendent airy lobby featuring a white imperial staircase nearby and pan-European flair, MGM Grand Macau has every trapping a luxury Las Vegas casino resort...
• Macau's Big Winners At year's end the big winner, except for the month of December, was Steve Wynn. In only three months, he managed to grab a 16...