Cheung Kong's La Grande Ville dominates sales in Beijing in Aug

Sep. 18, 2009 (China Knowledge) - Cheung Kong (Holdings) Ltd<0001>, which is a major property developer in Hong Kong and is owned by business tycoon Li Ka-shing, in August pre-sold over 100 villas in La Grande Ville Phase Two, a high-end residential project, claiming the top sales rank in Beijing, sources reported.

The Hong Kong-listed firm began selling 150 villas in La Grande Ville Phase Two in May. After all 150 had sold, the firm on Aug. 15 put up 50 more villas for sale. They were subscribed within an hour. On Aug. 22 another 50 villas were sold.

The villas in Phase Two will have a floor area ranging from 260 square meters to 420 sq m each. Phase Two will include some detached houses, some semi-detached houses and some townhouses.

Located in Shunyi County, Beijing, La Grande Ville has a total potential floor area of around 8.4 million square feet and will be built as a five-phase residential complex.

A director said that the company has sold more than 400 villas in La Grande Ville so far. The ratio of resident owners to investors is six to four. Eighty percent of the buyers are from mainland China while the rest are from Hong Kong and Taiwan.