Feb. 2, 2010 (China Knowledge) - New World Development Co Ltd<0017>, a conglomerate based in Hong Kong, sold approximately 80%, or 116 units, of the homes at Belcher's Hill in Sai Wan within two days of the launch.
Jeff Lau Chung-leung, a senior manager in sales and marketing, said that the firm has slightly raised prices of the homes at the Belcher's Hill, which is the first major project that the company put on the market in two months. There are 152 apartments in the single-building project.
The Hong Kong-listed developer will put more homes on the market.
Executive Director Adrian Cheng Chi-kong said last December that New World Development plans to spend US$1 billion to set up seven art malls in mainland China over the next five to seven years.
The company plans to expand the concept of art malls, which are shopping centers featuring art pieces, said Cheng, adding that the company will open one in Wuhan around June and another one in Shanghai in 2011.