Cheung Kong, Sun Hung Kai Sell HK$11 Billion Worth of New Homes
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Sun Hung Kai Properties Ltd. and Cheung Kong Holdings Ltd., Hong Kong’s two largest developers, sold more than HK$11 billion ($1.42 billion) worth of new properties over the National Day holiday weekend.
Sun Hung Kai, the world’s biggest developer by market value, sold 132 houses at its Valais project in the Sheung Shui district over the three-day holiday, generating revenue of close to HK$4 billion, it said in an e-mailed statement yesterday. Cheung Kong, controlled by billionaire Li Ka-shing, sold all 1,143 apartments at Oceanaire in the Ma On Shan district, four days after the project was launched, for more than HK$7.6 billion, sales director Francis Wong told reporters at a briefing yesterday.