CK Asset Leads Hong Kong Builders with New Flat Sale Aiming for Q4 Launch, Anticipating Rate Cut

CK Asset is at the forefront of Hong Kong construction companies in promoting the upcoming sale of a new apartment complex, which is anticipated to occur before a predicted reduction in interest rates. The primary real estate company of Li Ka-shing has announced plans to sell 558 units located on the southern part of Hong Kong Island as early as next month.

CK Asset Holdings, a real estate developer in Hong Kong, plans to sell a series of new apartments on the southern part of Hong Kong Island as early as next month. This move makes it one of the pioneer major construction companies to reveal its strategies prior to a predicted decrease in interest rates.

The developer announced that the upcoming sale could start as soon as next month. They expressed optimism that it would be "the first new development to be introduced in the fourth quarter." The project received presale approval in December.

Construction companies in Hong Kong are ready to initiate a minimum of six new projects, providing an estimated 2,800 apartments in September. They're banking on increased activity in the local real estate market, following an anticipated rate reduction. The Federal Reserve is set to meet on Tuesday and Wednesday, where decision-makers are highly likely to decrease lending rates by a minimum of 25 basis points, traders suggest.

The initiation of Blue Coast II is not linked to the expected reduction in interest rate, as the deal has been in the works for a considerable period, stated Justin Chiu Kwok-hung, the executive director of CK Asset.

"He stated that the cost will be determined by the market rate, stressing that the developer won't keep stock."