News analysis: Grand Mayfair II goes on sale
- Grand Mayfair II released to market to tap strong demand
- This phase is likely to be popular among homebuyers
- BUY with HK$12 TP
Since late April, a consortium – equally owned by Sino Land, K.Wah International, and China Overseas Land – has sold 710 units at Grand Mayfair I in Yuen Long for >HK$6.6bn. This represented 99% of the total units. On the heels of the overwhelming market response, the developing consortium released Grand Mayfair II into the market to tap the demand after obtaining pre-sale consent. It offered two batches of 306 units for pre-sale at an ASP of >HK$18,100psf. We believe that Grand Mayfair II, which contains 805 units, is likely to be equally popular among homebuyers as for Grand Mayfair I.