Many home flats are on the way in 2016.

Many home flats are on the way in 2016.

Developers are set to launch several new projects, catch many people attention.

Hong Kong is not a big city but it seems has a large carrying capacity. Recently, land limited problem become serious. Lots of citizens worried about land may not have enough supply to the demand. Therefore, developers start set some projects to release the situation like develop in Yuen Long and Tseung Kwan O this year.

Three projects, providing a total of 2,600 units, will be launched by Sun Hung Kai Properties (0016.HK) (SHKP) in Yuen Long, deputy manager of sales Cheuk Sau-man said. Also, YOHO Town Phase 3, the last and largest phase of the YOHO series, will provide a total of 2,500 units, of which 1,100 will be offered this year. the last, Imperial Kennedy, which is awaiting approval, will launch phases 1A and 1C and will provide 1,027 flats.

The whole project will result in more than 3,000 new units. Another project by the developer in Tak Yip Street, Tung Tau, will provide more than 500 flats.

Cheuk also said SHKP is planning to launch two projects in Tuen Mun next year, providing more than 1,000 flats.

Meanwhile, K.Wah International Holdings (0173.HK) will launch two projects offering about 1,000 units this year.

One of the projects, Twin Peaks in Tseung Kwan O, will provide 372 units, with sizes ranging from 300 to more than 1,000 square feet. The developer said prices will be in line with those of new projects in the district. The second project will be in Long Ping north.

Sales of the remaining 175 units at MacPherson Place, Mong Kok, jointly developed by Kowloon Development (0034.HK) and Hong Kong Playground Association, will start this week.

Source: The Standard Finance

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