For Immediate Release

March 13, 2002

Park Central is a joint venture project by Sun Hung Kai Properties (SHKP), Henderson Land, the Chinachem Group and Nan Fung Development. The property is right by the Tseung Kwan O MTR station, which will go into service in August this year, earlier than expected. Because the opening of the Tseung Kwan O MTR has been moved forward, the developers have seen a tremendous increase in market interest in the property and they have decided to offer 16 selected units in Phase 2 for public sale. The units are in towers 2 and 11, at an average price of HK$3,102 per square foot. The public sale will be held on March 23, with the deadline for registration on March 20 and the announcement of ballot results on March 22.

Donald Cheung, General Manager of Henderson Land's Sales Department, SM Ng, Sales Manager with the Chinachem Group and Eric Chow, General Manager of the Sun Hung Kai Real Estate Agency, met the media today (March 13) to announce sales details.

Eric Chow said, "We had an internal sale of Park Central Phase 2 this Monday, selling nearly 450 units in one night and taking in more than HK$800 million. This satisfactory result shows that most buyers recognize the property and its advantage of being 'zero distance' from the MTR. The developers are also offering Park Central units at attractive prices. The Financial Secretary's budget announced last week will help to stabilize the overall economy and the property market; we are confident about the sale of Park Central."

Consent to Assign has already been obtained for Park Central Phase 2 towers 1 to 3 and 10 to 11. These 5 residential blocks contain 1,896 units ranging from over 500 square feet to more than 900 square feet. The units have two or three bedrooms and an 80% efficiency rate. The handover of Park Central Phase 2 is scheduled for July 2003.

Right by the MTR

Park Central is just next to the East Kowloon Tseung Kwan O MTR station that will go into service in August this year. The development has the benefit of a premium location, and Phase 2 is even closer to the MTR. It will just be a ten-minute MTR ride to Hong Kong Island, and there will be a transport terminal adjacent to the estate, with taxis, buses and minibuses linking Park Central to Kowloon, Hong Kong Island and the New Territories.

Premium school network

Park Central is surrounded by many high-quality primary, secondary and international schools, as well as an elite school, so young residents will be able to develop to their full potential and ability in an enhanced learning environment.

Grand Shopping Arcade

There will be a grand, 350,000 square-foot shopping arcade in Park Central, with direct lift connections to the estate for residents' convenience, and a full range of retail outlets will satisfy every shopping and entertainment need.

The property is in the centre of Tseung Kwan O, and its design emphasizes a family lifestyle. The development's lush garden and club house will cover 250,000 square feet, with a full-range of facilities including a family spa / steam room and sauna, outdoor swimming pool, family pool, indoor pool, jacuzzi, massage room, pebble massage area, BBQ site, bowling alley, Internet cafe, gymnasium, aerobics room, tennis court, multi-purpose sports hall, squash court, model car track and more, so residents will be able to live the good life.

Excellent management

The Hong Yip Service Company, a member of SHKP, will manage Park Central and its facilities. Residents will be able to use superhome.net to get the latest news about the estate and obtain information about cultural activities, medical and public services and financial news. Furthermore, a smart card system will offer residents total security.

Show flats for Park Central Phase 2 are now open to the public, each day from 10:00 am to 9:00 pm. A shuttle bus to the property will serve Mongkok, Lam Tin and Tseung Kwan O this Thursday to Friday, with additional service for Tsuen Wan, Amoy and Shau Ki Wan this Saturday and Sunday.

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