2025-02-21 28Hse Editor
Great Eagle (0041) in partnership with MTR Corporation (0066) has announced the launch of their new residential development, Onmantin, perched above Ho Man Tin station. This project, featuring five residential towers, is set to deliver 990 homes upon completion.
The pre-sale consent for Onmantin has been secured, and Great Eagle anticipates the construction to be finalized by March 2025. The developer also mentioned that preparations for the project's launch are in progress, with sales commencement dates to be announced later.
In a prior development, Goldin Financial (0530) had secured the project with a land premium bid of HK$6.28 billion, equating to HK$8,459 per square foot. However, due to a liquidity crisis, Goldin had to relinquish the project, which was subsequently taken over by Great Eagle in 2021.
In related property market news, New World Development (0017) has received approval from the Buildings Department for the redevelopment of Rose Court in Kowloon Tong. The plan is to transform it into an eight-story residential building.
Additionally, Vanke Hong Kong has been granted permission to erect a 20-story mixed-use building, predominantly residential, in Ngau Tau Kok on Ting Fu Street. The new building will allocate 77,775 sq ft, or 83% of its total 93,408 sq ft floor area, to residential space. China Vanke's Hong Kong subsidiary acquired the site through two compulsory auctions for HK$594 million.
Furthermore, Causeway Bay will see a new development as CSI Properties (0497) has been approved to convert an old building on Shelter Street into a 30-story hotel, further expanding the city's hospitality offerings.
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