"Local Property Market: Two phases of 'Proximity Sea Station' in Youtang have accumulated sales of 832 units, with a total cash-out of over 5.36 billion yuan."

CK ASSET (01113.HK) has sold a total of 832 units in two phases of its Yau Tong project, "Proximity to the Sea," generating over 5.36 billion yuan in cash with an average price per square foot of 15,500 yuan. Guo Ziwei, Chief Manager of CK ASSET's Sales Department, mentioned that the originally planned tender for 28 duplex units in the project will now be changed to a fixed-price sale within this week. Chen Yongci, Sales Manager of CK ASSET, stated that all the special units are two-bedroom layouts with practical areas ranging from 501 to 523 square feet. Zhao Guoxiong, Executive Director of CK ASSET, expressed satisfaction with the project's sales performance over the past two weeks but believed that the market conditions are still weaker than expected by the group. He believes that Hong Kong people still have the intention to enter the market, but their attitude towards buying properties will be more cautious. He mentioned that over 10,000 units will be launched in the market this year, so the group chooses to "sell quickly and create a good world." He also mentioned "sailing to compete for unmooring" and hopes to avoid greater competition when there is more supply, preferring to offer discounts to accelerate capital turnover. Regarding the Tsuen Wan oil citrus "Hong Kong people's first home purchase" site, which closed for bidding last Friday (18th), Zhao Guoxiong stated that CK ASSET did not submit a bid because they had already "done the math" and, after studying the tender conditions, believed that the developer's risk was relatively high. (sl/da)