In 2022 BUZZ reported on a the second phase of a new development in Ho Chung near Nam Pin Wai roundabout. Yesterday (6/10) the developers announced that it would be called 181 Clearwater and that the first phase of the project would be completed in 2027. The project, a collaboration between Lan Kwai Fong Group (蘭桂坊集團 / 蘭桂坊地產), Far East Consortium (遠東發展 – 0035), and Hin Lee Engineering (顯利工程), will offer 26 villas and has obtained the sales permit. It is expected to be launched for sale in the near future.
Phase 1 development of 26 houses is available for sale next year
According to Gary Wong, Director of Property Development at Lan Kwai Fong Group, development offers 26 detached houses, each three storeys high, with areas ranging from 1,900 to 2,800 square feet. All houses are 4-bedroom, 4-bathroom layouts, and each house includes a garden, rooftop, and underground parking.
The developers also have planning permission for another 22 houses in Phase 2
Wong indicated that the project has obtained pre-sale consent, and the group will adopt a “reluctant to sell” strategy, releasing units to the market in the short term depending on market response. He believes the project’s buyers are likely to be financially capable individuals, and that the development of the information hub will have little impact on luxury home buyers.
According to available information, the developers, purchased the land in 2021 and completed the land premium payment process for nearly HK$370 million, with a land price of approximately HK$6,530 per square foot. The estimated total residential floor area is 56,640 square feet.
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