Business
CK Asset Takes Lead Among Hong Kong Builders with New Flat Sale Anticipating Interest Rate Cut
CK Asset is at the forefront of Hong Kong's construction industry, promoting the upcoming sale of a new apartment complex in anticipation of a predicted reduction in interest rates. The leading developer, managed by Li Ka-shing, has announced plans to release 558 residential units for sale on the southern part of Hong Kong Island as early as next month.
CK Asset Holdings, a real estate developer based in Hong Kong, plans to put a group of new apartments up for sale on the southern part of Hong Kong Island as early as next month. This makes it one of the first significant construction companies to reveal plans before a predicted decrease in interest rates.
The creator stated that the upcoming sale could start as soon as next month, expressing hope that it would be "the inaugural new project to be introduced in the final quarter". The project was given the green light for pre-sale in December.
Construction companies in Hong Kong are preparing to introduce a minimum of six new ventures, comprising approximately 2,800 apartments in September. They are banking on an increased activity in the domestic real estate market, following the anticipated reduction in interest rates. The Federal Reserve is scheduled to convene on Tuesday and Wednesday, where it's highly likely they will decrease lending rates by at least 25 basis points, based on predictions from traders.
Justin Chiu Kwok-hung, the executive director of CK Asset, clarified that the upcoming launch of Blue Coast II has been planned for a considerable amount of time and is not influenced by the expected reduction in rates.
"He stressed that the cost will be determined by the market rate, and that the market will agree to it," he stated, highlighting that the developer won't keep stock.
Discover more from Automobilnews News - The first AI News Portal world wide
Subscribe to get the latest posts sent to your email.