New World Development secures HK$10b sales target

Thanks to The Austin's robust sales.

According to a report by Barclays, New World Development has reached its HK$10bn sales target for this financial year within the first four months. 

Here's more:

The performance was attributed to sales of The Austin in West Kowloon. While it has reached its HK$10bn target ahead of time, NWD has no plans to raise its sales target, according to the company.

Commenting further on the Hong Kong housing market, NWD’s chairman believes Hong Kong home prices are likely to remain broadly stable and should not see a large correction. Furthermore, as home prices have only declined slightly, the chairman believes it is not the right time to lift the restrictive measures.