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1/25 News Roundup: Corporate Paid HK$324m Stamp Duty for The Peak's Luxury House, Cheung Kong To Launch 3 Projects After New Year

Hong Kong Property | January 25, 2017

Corporate Paid HK$324m Stamp Duty for The Peak’s Luxury House
A corporate buyer, named as Giant Victory Holdings in a filing with the Land Registry on Tuesday, is likely to be charged a total of 30% in stamp duty for the 9,950 square feet House No. 1 at MOUNT NICHOLSON, which works out at HK$324 million – the highest stamp duty paid after the cooling measures launched since November. The house was sold through tender for HK$1.08 billion on Christmas day, ranking as Asia’s most expensive house.

The Pavilia Bay Second Batch Units Almost Sold Out
New World Development has received a strong response for the second round sale of its joint venture project in Tsuen Wan. The developer said it had sold 190 out of 199 available units at The Pavilia Bay as of 6 pm on Tuesday, raising the total number of units sold to 590, worth HK$5.5 billion. The average deal price is HK$9.93 million, or HK$16,205 per square foot.

Cheung Kong To Launch 3 Projects After New Year
Cheung Kong Property will launch 3 new projects after Lunar New Year, offering a total of 900 units. The project in Oil Street North Point was named as Harbour Glory and will provide mainly middle-sized and small units. Harbour Glory consists of 378 unit, including one-room to four-room flats. Meanwhile, the company has uploaded the sales brochure of its Yuen Long project Crescendo. Another project in Ma On Shan namely Seanorama will also be launched for sale soon.

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