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12/6 News Roundup: Kai Tak Site Winner Pledged Shares For Loans, Public Houses Sold In High Prices

Hong Kong Property | December 6, 2016

Kai Tak Site Winner Pledged Shares For Loans
The controlling shareholder of HNA Holding Group (521) pledged nearly all of its stake in the firm as security for a loan – a month after the group paid a jaw-dropping HK$8.84 billion for its first residential site in Hong Kong. Hong Kong HNA Holding Group, has pledged 56.11% or 6.39 billion shares in the listed vehicle “as security for certain banking facilities or guarantees”. It is reported that the group also pledged its stakes in its three listing companies in Shanghai and Shenzhen for loans. Analysts believe that the group needs financing badly, possibly to pay for its recent HK$8.84 billion Kai Tak residential site acquisition.

Public Houses Sold In High Prices
Second hand market is still warm and high-priced home deals were recorded in public housing market. A 650-square-foot unit in Tin Shing Court was sold at HK$4.1 million, setting the highest price of Green Form HOS (House Ownership Scheme) flat in Tin Shui Wai. The cost per square foot is HK$6,380, catching the average cost of the district’s Kingswood Villas in HK$7,000 to HK$9,000. Meanwhile, a 447-square-foot flat in Wong Tai Sin’s Chuk Yuen (North) Estate was sold at HK$4.2 million, making it the most expensive public housing unit in Kowloon.

Ma On Shan Seanorama May Be Launched Early Next Year
Cheung Kong Properties named its new project in Ma On Shan as Seanorama. It will provide 454 three- to four- bedroom flats ranging in size from 700 to 1,700 saleable square feet. Cheung Kong Real Estate director William Kwok Tsz-wai said pre-sale consent is being sought for the project and it may be launched early next year.

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