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February 5, 2001

SHKP sees good results with Oscar by the Sea

Sun Hung Kai Properties (SHKP) announced that two attractive mortgage packages offered to buyers of Oscar by the Sea in the middle of last month have proven to be very popular. Oscar by the Sea has seen outstanding results, with over 100 units sold since the offer was made available. The developer has realized approximately HK$300 million in sales.

Eric Chow, General Manager of the Sun Hung Kai Real Estate Agency, said that the banksˇ¦ 0.5% cut in interest rates and the government's intention to adjust the income ceiling for applicants to the Home Ownership Scheme are encouraging factors, and confidence among homebuyers is returning. Mr Chow anticipates that the market will be very active in coming months. At the same time, SHKP will maintain the special offers on Oscar by the Sea to give potential homebuyers the full opportunity to take advantage, meaning the offers will end as originally announced, on February 12.

Details of the plans currently offered by propertystreet.net, bankingstreet.net and Dao Hang Bank follow:

Plan A:
  • P-2.5% for the first three years
  • P-2.3% for the remaining period
  • Cash rebate equal to 12% of loan
    		•  Plan B:
  • P-0.5% for the first three years
  • P-2.3% for the remaining period
  • Cash rebate equal to 17% of the loan


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    Source: Sun Hung Kai Properties Limited
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