For Immediate Release

Hong Kong, February 19, 2001 - The Parcville, a premium luxury estate by the future Yuen Long West Rail station jointly developed by Sun Hung Kai Properties (SHKP) and New World Development, is offering 32 units in the first batch for sale. The units on offer are in Blocks 1, 5, 7 and 15, with prices starting from HK$1,560 per square foot. The lowest priced unit is HK$950,000. Registrations will be accepted from February 26th to 28th, ballot results will be announced on March 2nd and unit selection will take place on March 3rd.

Eric Chow, General Manager of the Sun Hung Kai Real Estate Agency, Barbara Ho, Senior Manager of Sales and Marketing for New World Development, Martin Tam, Project Director for The Parcville, and KO Wong, Assistant General Manager of the Hong Yip Service Company, met the media today (February 19) to provide details of the sale.

The developers have arranged for several banks to provide low-interest mortgages for buyers of The Parcville at rates as low as prime less 2.5% for the full term, or cash rebates of 7% of the mortgage amount or more. The developers will also offer second mortgages for as much as 15% of a unit's price for terms of up to 20 years.

To highlight The Parcville's environmentally-friendly features, SHKP Club members who purchase a unit during the internal sale or first day public sale will be invited on a free tour of the Mai Po Nature Reserve with a guest, to allow them to experience the precious natural environment of Mai Po.

Located on Po Yip Street in Tung Tau, The Parcville site covers over 300,000 square feet and will house 14 luxury towers ranging from 13 to 15 storeys. The property contains 1,618 units ranging from 606 to 919 square feet, with nine-foot ceilings and 80% efficiency. There will also be 400 resident parking spaces in the development, which is planned for handover in the second half of 2002.

20 minutes from Yuen Long to Kowloon via West Rail

The Parcville is adjacent to the soon-to-be-completed Yuen Long West Rail station, which is only a five-minute walk along the property's planned vehicle and pedestrian access. Traveling from the Yuen Long West Rail station to Sham Shui Po will only take 20 minutes, and getting to Central by car takes only 30 minutes via Route 3, with no traffic lights in between. Other public transportation in the area includes the LRT and buses and minibuses for easy access to all parts of the territory.

First residential development to receive highest rating under HK Building Environmental Assessment Method

The Parcville's design embodies environmental protection. It is the first residential estate in Hong Kong to be rated 'Excellent' under the Hong Kong Building Environmental Assessment Method by the Business Environment Council. In addition to views of the Mai Po Nature Reserve, the developers have gone to great lengths to create a natural environment. The property includes a 200,000 square-foot landscaped garden with over 2,500 species of plants, making it one of the largest "green" residential estates in the district, and the garden is lit with PV-light poles to cut down on energy use. A bahunia garden is under construction near the development, which will provide residents with an even larger natural environment.

The semi-open green car park employs an ingenious air circulation principle to reduce the accumulation of polluting gases from vehicles, and the estate will have an environmentally-friendly, energy-efficient electric shuttle bus service that cuts down on energy usage and carbon monoxide pollution greatly. Also, all units can regulate the supply of flushing water to help conserve a natural resource.

Unique 'one-stop' school in Yuen Long

The Parcville is in a prestigious school network that includes many of the district's top kindergartens and primary and secondary schools. There are 12 English secondary schools in the northwest New Territories, five of which are in Yuen Long: Yuen Long Public Secondary School, Yuen Long Merchants' Association Secondary School, NTHYK Yuen Long District Secondary School, Shung Tak Catholic English College and Chui Lut Sau Memorial Secondary School.

There are also four 'value-added' schools: Pui Shing Catholic Secondary School, the HKMA KS Lo College, Gertrude Simon Lutheran College and the Church of Christ in China Kei Long College. In addition, the only 'one-stop' school will be built next to the property, with both primary and secondary institutions.

Exclusive indoor swimming pool in Yuen Long

The Parcville will provide a comprehensive range of recreational facilities. Residents will have an exclusive 60-meter heated all-weather indoor swimming pool in the district and an outdoor swimming pool. Other facilities will include an archery room, gym, sauna, steam room, barbecue site, children's greenhouse and more.

For leisure and recreation, The Parcville is located near a large sports ground, swimming pool, children's playground, a green public garden under construction and other public facilities. There are also a number of large shopping centers in the area, including Sun Yuen Long Centre, Yuen Long Plaza and Yuen Long Landmark. Finally, The Parcville is within easy reach of various 'Declared Monuments' that are part of Yuen Long's rich cultural heritage.

Distinctive show flats for The Parcville are on the 3rd floor of the Sun Yuen Long Centre shopping mall, open to the public from 10:00 am to 9:00 pm. The developers will also provide free shuttle bus transport between The Parcville sales office and Admiralty, Tsuen Wan, Sheung Shui, Tuen Mun and Yuen Long.

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