Mainland developer purchases 48 Caine Road

Posted: Sep 5 2014Last Updated: Feb 11 2016
Caine Road4 September 2014 - Yuzhou Properties (1628) announced that the company purchased a residential property located at 48 Caine Road for a consideration of HKD374 million. The company intends to redevelop the property into a 27-storey luxury residential project.
The CFO Chiu Yu Kang said the construction and interest cost of the project is expected to be HKD120 million, and the net profit rate is expected to be 20%. Units will potentially be rented out first, after which sales may be considered.
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