Property News · November 17, 2018

Country Garden ‘mistimes’ the market, set to release first batch of Hong Kong flats at below cost


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