2025-02-21 28Hse Editor
Donald Choi Wun-hing, the CEO of Chinachem Group, has projected a U-shaped recovery for the property market, suggesting a stabilization after its previous decline. As the company prepares for the reopening of Nina Park, Choi has tempered expectations of a swift V-shaped rebound in home prices, even with potential interest rate cuts anticipated as soon as March or April.
Choi advises caution for the group when engaging in property site bidding, citing the current geopolitical and economic uncertainties. He likened developers to factories, stating that their purchasing strategy is based on market prices: higher purchase prices are warranted when sales prices are high and lower accordingly.
Next year will see Chinachem launch its inaugural project in partnership with the Urban Renewal Authority, located at Tonkin Street/Fuk Wing Street in Sham Shui Po. This initiative marks a significant step for the group in property development.
Additionally, Chinachem is expanding its services to enhance the living experience for residents within its properties. The group is currently collaborating with medical organizations to offer services such as group medication deliveries and discounted medical consultations.
Chinachem is actively engaging with government bodies to incorporate elderly-friendly amenities in their upcoming Anderson Road project in Kwun Tong, with a focus on improving road traffic facilities for seniors.
In another exciting development, Chinachem is set to reopen Nina Park in Tsuen Wan, which is home to the group's headquarters. The park, which showcases wood fossils collected by the late chairman Nina Wang Kung Yu-sum, has been closed for several years for redesigning. The new design will feature sustainability measures, such as the use of recycled water, as well as cultural attractions including a museum and an amphitheater. Nina Park's reopening is scheduled for next Friday, offering a blend of natural history, sustainability, and the arts for the community to enjoy.
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