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NWD, Ares Reportedly Slash Price of Commercial Complex at 83 Wing Hong Street, Cheung Sha Wan by Up to 57% to Clear Inventory; Net Price as Low as HKD5,600/ sq ft
2026-06-29 10:56:16 NEW WORLD DEV (00017.HK) and Ares Management, which jointly own the commercial complex at 83 Wing Hong Street in Cheung Sha Wan, adjacent to Lai Chi Kok MTR Station, have recently sharply reduced selling prices in a bid to offload some units, Bloomberg, citing sources, reported. After factoring in various discounts and cash rebates, the latest asking price for certain units is HKD5,600 per sq ft, representing a decline of as much as 57% compared with HKD13,000 per sq ft when the project was first launched in 2024. Other units are currently priced at around HKD7,000 per sq ft. Notably, the latest unit price has fallen below NEW WORLD DEV's land acquisition cost in 2017, when the accommodation value of the site reached approximately HKD8,000 per sq ft. ~ AASTOCKS Financial News Website: www.aastocks.com | |