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RESIDENTIAL PROPERTY | Staff Reporter, Hong Kong
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URA gets 110 subscriptions for De Novo

It's oversubscribed by six times.

According to Maybank Kim Eng, the Urban Renewal Authority (URA) received 110 subscriptions for its 16 unsold flats at the subsidized “De Novo” project in Kai Tak, representing nearly 6x over-subscription.

The flats are being sold at market prices, with prices raised by 14 % to more than 20% from the previous price list in January last year. Ranging in size from 442 to 562 salable square feet, the unsold flats are priced at HKD6.977 million to HKD8.98 million, or HKD15,043 to HKD16,450 per saleable square foot. 

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