Property News · August 27, 2019

Mainland Chinese developer Jiayuan says Hong Kong micro flats profitable despite price cuts, reports 23 per cent rise in interim profit


The mainland Chinese property developer behind Hong Kong’s smallest micro flats ever – smaller than a car park at 128 sq ft – said the development was profitable even after it cut prices by as much as 38 per cent to as low as HK$1.73 million (US$220,514) per unit in July.Jiayuan International, which acquired a 70.1 per cent stake in the TPlus project from Hong Kong retail magnate Tang Shing-bor for HK$657.5 million in May 2018, said it and Tang had generated about HK$1.1 billion in revenue from…

Source : South China Morning Post
Read more…Mainland Chinese developer Jiayuan says Hong Kong micro flats profitable despite price cuts, reports 23 per cent rise in interim profit

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