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Hon Kwok Land to launch residential project in Guangzhou

Published: 19 Nov 2008 17:38:18 PST

Nov. 19, 2008 (China Knowledge) - Hong Kong-listed Hon Kwok Land Investment<160> will start selling the first phase of its residential development project Botanica in Guangzhou tomorrow despite the poor market conditions, the South China Morning Post reported on Wednesday.

The small-sized real estate developer said the project has attracted some potential buyers since the on-site visit began last week.

Simon Hong, the project development director of Hon Kwok, said the first phase of Botanica, which contains 332 units with floor areas ranging from 60 sq m to 183 sq m, covers a gross floor area of 40,500 sq m. The average selling price stands at RMB 8,500 per square meter.

Hong added he believed it was the right time to launch the project, though he admitted the market was starting to slow down.

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