New World Development (HKG:0017) priced the first 88 units of its State Pavilia project at an average of HK$18,540 per square foot, the South China Morning Post reported Thursday.
The price is at an eight-year low at the Eastern district, according to the SCMP.
The project is located at a redevelopment of the former State Theatre in North Point, the report said.
Meanwhile, Sun Hung Kai Properties (HKG:0016) priced the first batch of properties at the Lime Gala project at HK$17,732 per square foot, 13% lower than its accommodation value of HK$21,500, the report said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)
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