Media365
Vanke Hong Kong, a unit of distressed mainland developer China Vanke, sold only seven flats from the latest batch of its Le Mont project in Tai Po on Saturday, a muted result that brokers said was expected given the development has been on the market for months.
The developer released 165 flats in the latest batch, with sizes ranging from 270 to 662 sq ft.
The offering included 28 one-bedroom, 28 two-bedroom, eight three-bedroom units and eight special units, as part of a six-tower residential complex comprising 1,650 homes and scheduled for completion by July 2026.
Before Saturday’s sales push, Vanke Hong Kong had sold 1,097 units since marketing began in March, generating about HK$4.96 billion (US$636 million), according to the company.
“Seven units were sold on Saturday, mainly to end users,” said Sammy Po Siu-ming, senior director of Midland Realty.
He said the developer was not trying to clear inventory in a single push and expected transactions to continue through the Christmas and New Year holidays.
“The slow sales are not a surprise,” Po added, noting that the latest release comprised remaining units after multiple earlier rounds.
