"Beacon Peak" in Kowloon Mid-Levels first offers 67 units, with two-bedroom units starting at HKD 11.39 million

Shimao Group (00813.HK) announced today (29th) the first price list for its luxury residential project "BEACON PEAK" located at 9 Kowloon Yanping Road, involving 67 units, with a discounted selling price starting at HKD 11.3906 million, a discounted price per square foot of HKD 15,998, and a discounted average price per square foot of HKD 18,988.

The first price list includes 30 two-bedroom and 37 three-bedroom units, with usable areas ranging from 712 to 985 square feet, offering two payment methods. After deducting the maximum discount of 6%, the lowest discounted selling price and price per square foot is for unit D on the 10th floor of Block 6, with a usable area of 712 square feet, a discounted selling price of HKD 11.3906 million, and a discounted price per square foot of HKD 15,998.

Gong Zhaohan, Senior Sales and Marketing Planning Manager of Shimao's Aocheng Limited Property Development Department, described the opening price as "Bigger Thinking Price," which will depend on market response, with sales potentially starting as early as next week. He indicated that the project will continue to tender for the sale of larger units.

He noted that recent declines in interbank rates, coupled with market expectations of interest rate cuts in the U.S. this year, suggest that now is a good time to launch the project