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September 11 Web Archive Collection

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http://www.irasia.com/listco/hk/shkp/press/p011117.htm

Archived: 11/20/2001 at 14:05:26

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irasia.com


For Immediate ReleaseNovember 17, 2001

SHKP to raise prices of selected remaining units

Sun Hung Kai Properties (SHKP) announced today (November 17) that prices would rise for The Parcville, Villa by the Park and Park Central, starting from December 3, 2001.

Eric Chow, General Manager of the Sun Hung Kai Real Estate Agency, said "We sold a total of 1,600 units in the last two months, bringing in revenue of HK$3 billion. This is obviously very encouraging. There has been an up-swing in property transactions recently, indicating that buyers have regained confidence, and by raising prices on these selected units, SHKP is demonstrating its faith in the future prospects for the property market."

Mr Chow believes that with previous interest rate cuts and the possibility of further reductions, the level of property transactions would continue to rise, with the trend spreading gradually from smaller units to luxury developments. Mr Chow said generally speaking, he saw very healthy growth in the property market.

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Source: Sun Hung Kai Properties Limited
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