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News Release

Hong Kong

Jones Lang LaSalle Appointed Lead Agent by Chinachem, Sino and Dan Form for the sale of their Redhill Peninsula Portfolio

The portfolio includes 48 houses and 119 apartments


HONG KONG, 15 MAY 2012 – Jones Lang LaSalle has been appointed by Chinachem Group, Sino Group and Dan Form Holdings Company Limited as the lead agent for the sale of the consortium’s luxury residential units at Redhill Peninsula, which is hailed for having a panoramic sea view of Tai Tam Bay.
 
The portfolio now for sale includes 48 houses and 119 apartment units at Redhill Peninsula.  Having held the portfolio for some time for long-term investment, the consortium now decides to put it up for sale by phases.
Situated in Island South, Redhill Peninsula is one of the largest residential developments in Tai Tam commanding spectacular views of Tai Tam Bay.  Well known for its exclusivity and tranquil surroundings, Redhill Peninsula is one of the most popular residences among the wealthy expats and local people in Hong Kong.
 
A signing ceremony was held today, officiated by Mr. S. M. Ng, Chinachem Group Sales Manager, Mr Victor Tin, General Manager of Sino Group’s Sales Department, Mr Kenneth Hiu King Kon, Executive Director and Deputy Chief Executive of Dan Form Holdings Company Limited and Mr Joseph Tsang, Jones Lang LaSalle’s Managing Director, Hong Kong.
“We are delighted to be appointed as the lead agent by Chinachem, Sino and Dan Form to sell on their behalf their portfolio at Redhill Peninsula,” says Joseph Tsang.  “The sentiment of the luxury residential market in Hong Kong has been very positive on the back of the limited supply and strong demand.  For example, recently a site in Repulse Bay was sold for a high price of approximately HK$39,600 per sq ft.”
 
“The 48 houses and 119 apartment units at Redhill Peninsula now for sale is truly a rarity. In fact, we have already received a lot of enquiries about the sale of the residences at Redhill Peninsula.  We are confident that the portfolio will be well received by the market and we are looking for a price of HK$26,000-$36,000 per sq ft saleable area for houses which command efficiency ratio of 100% and HK$15,000-$20,000 per sq ft gross area for typical apartments,” added Joseph Tsang.