Hong Kong’s biggest property developer Sun Hung Kai Properties (SHKP) is poised to launch flats in a mega residential project in East New Territories, but poor accessibility could affect the development’s chances of becoming the next Taikoo Shing or Lohas Park, according to an industry observer.
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The Sai Sha development in Shap Sze Heung, which sits between Ma On Shan and Sai Kung, will provide a total gross floor area of about 5 million sq ft – 4.7 million sq ft of residential and 288,000 sq ft of non-residential space.
“The Sai Sha project is one of SHKP’s largest integrated developments in recent years, a vision that has taken decades to realise,” the developer said.
SHKP is likely to launch the first batch of 781 flats in the Sai Sha project this quarter.
The project was still pending presale consent approval from the Lands Department as of end-December, according to Xavier Lee, an equity analyst at Morningstar, adding that SHKP was likely to soon receive presale consent.
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