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2009．2．14 |
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Shanghai Westwood II Strong Sales Continue
500 units sold with proceeds of RMB850 million |
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14 February 2009 (Saturday) – With the Shanghai stock market climbing and the break of favourable news recently, the property market shows signs of positive anticipation. Shanghai Westwood II, a project developed by K. Wah International Holdings Limited ("KWIH" or "the Group"), continued to report strong sales after the Chinese New Year. Originally scheduling to put 188 units in Block 14 for sale at the end of the month, the Group decided to launch the new units ahead of time on the Valentine’s day. The early kick off attracted many keen buyers as the queue started to form outside the sales office two nights before the pre-sale.
At around 9 pm yesterday, a total of about 200 potential buyers in more than 80 groups were already waiting outside the sales office where they spent the night. By this morning the waiting crowd had grown to more than 300 in about 150 groups. The enthusiasm of buyers was comparable to that on the first day of pre-sale of Shanghai Westwood II on 26 December last year. In only an hour this morning after sale started, a total of 50 units were sold and by 3 pm more than 120 units found buyers. Together with the units sold earlier, a total of 500 units of the project had been sold, generating approximately RMB850 million in sales proceeds for the Group.
The strong sales, said Mr Wilson Chan, General Manager – Sales of KWIH satisfactorily, reflected market confidence in the Group’s properties. With windows opening to an expanse of soothing green, the 188 new units in Block 14 included 24 one-bedroom units of 70 sq. m., 96 two-bedroom units of between 88 sq. m. and 89 sq. m., 44 two-bedroom units of between 112 sq. m. and 119 sq. m. and 24 three-bedroom units of 128 sq. m.
Introduction of Shanghai Westwood II
Shanghai Westwood is a large-scale residential project of K. Wah Group. Shanghai Westwood II comprises six apartment buildings with a total of 1,061 units of area between 71 to 169 sq. m. The project integrates the lifestyle of the Westwood community in Los Angeles, US in the architecture. Its wave-like silhouette stands out among traditional cubical architectural designs in Shanghai. The sales office, in a "time tunnel" like design, is also bold and unconventional. It takes visitors through past achievements of the Group and to the show flats.
Overlooking greenery that spans 680,000 sq. m., the project has one of the most spectacular green views in Shanghai that few other projects can match. The concept of "garden-in-apartment" is dream comes true for buyers. The six-metre high spacious lobby is an emblem of eminence. At a prime location, the project is close to the 250,000 sq. ft. Daning Commercial Plaza, the biggest commercial complex in Shanghai. It also has convenient access to transportation networks including elevated highways taking it to the city centre in a 10-minute drive and the Inner Ring and Middle Ring linking it with many other districts.
KWIH launched and sold Shanghai Westwood I, 1,300 units in all, in 2006 and 2007, and move-in began last year. Confident of the Shanghai property market, the Group will continue to focus on marketing of Shanghai Westwood II this year. |
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