Chun Wo entry into the luxury market with the web site in Sha Tin

Small developers and entrepreneurs Chun Wo Development a breakthrough on the market for residential property in Hong Kong with a luxury project in Sha Tin estimated at a total investment of 4.8 billion Hong Kong dollars.Hermes kelly 22cm bag On Wednesday, the government announced Where Chun won the place - which could bring 323 308 square meters of gross floor area - in Kau To Shan, Sha Tin, for HK $ 2.71 billion by tender . This is the second government of Chun Wo living website , a site in Clearwater Bay Road in July 2001 Won Won . This site is now occupied by a housing project called mass 8 Clear Water Bay Road. Chun Wo said the project Kau To Shan is a luxury residential complex with 110 villas of 2,500 square feet to 5,000 square feet and 40 apartments ranging from 1,700 square meters and 2,500 square meters Jeff Leung , Director of property development company , said yesterday Chun Wo could partner with a partner to develop the site , but it does not identify partners. The project is expected to be available for pre-sale in about two years . The entire project should be completed within three to four years. Hermes 40 bag Leung said the company was optimistic about the sales prospects of the project , despite successive government measures to curb the property market in the city stop . Since October, the government introduced a stamp duty of 15 per cent additional , so-called stamp duty of the buyer on the purchase of goods by a non - permanent resident - buyers and businesses , increased by two to three years the period in which called the additional stamp duty special stamp tax levied on the rapid resale of the property, and increased rates of these obligations , and doubled the stamp duty on purchases of all goods , a value of HK $ 2,000,000 or more . In addition, residential properties ( first-hand sales) order, which provides for new homes , which came into force in April stricter rules for the market. The draft Chun Wo , once completed , is to look at the Sha Tin racecourse . There is always a demand for houses in the United Arab Emirates Shan , a traditional luxury hotel in Kowloon, Leung said . For the future, the company will focus on mass housing and industrial property ,Hermes 35cm bag he said.