Country Garden Holdings, China’s largest developer by sales, is bracing for a potential loss on its majority-owned residential project in Ma On Shan, as an initial batch of flats are being released at a starting price below development cost, according to analysts.
The developer said on Friday the first batch of 110 flats at the 547-unit Altissimo would be offered at a starting price of HK$13,887 (US$1,773) per square foot, after factoring in a discount of up to 14 per cent.
In September…
Source : South China Morning Post
Read more…Country Garden ‘mistimes’ the market, set to release first batch of Hong Kong flats at below cost















