For Immediate Release

Hong Kong, February 24, 2001 - The Parcville, a premium property developed by Sun Hung Kai Properties Limited and New World Development Company Limited, held an internal sale last night (Feb 23) with 350 units being sold. In view of the very enthusiastic response, the developers announced that a second batch of 136 units would be available to the public. The lowest priced unit is less than HK$1,000,000. Since upper level units are valued highly by the market, prices for units from the 12th floor up will increase 3%. Prices for lower and mid level units remain unchanged.

Eric Chow, General Manager of the Sun Hung Kai Real Estate Agency, said "At the internal sale of The Parcville last night, 100 units sold out in the first two hours. And as there were over a thousand buyers still wanting units, the developers immediately offered additional flats to meet the need. As the higher floor units are in great demand, the developers decided to raise prices for upper floor units after careful consideration."

The Parcville will offer 200 units for public sale in two batches. Registrations will be accepted from next Monday to Wednesday (February 26 to 28). Ballot results will be announced on March 2, and flat selection will be held on March 3.

The Parcville show flats in the Sun Yuen Long Centre shopping mall are open for public viewing from 10:00am to 9:00pm. The developers will also provide a free shuttle bus service between The Parcville sales office and Tsuen Wan, Sheung Shui, Tuen Mun, Admiralty (Sat & Sun), and Yuen Long (Sat & Sun).

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