On the other hand, the board of the Hong Kong Urban Renewal Authority, which is in charge of the pilot scheme, approved the pricing on Tuesday after deciding earlier that the 450 flats in Ma Tau Wai would go for a discount of up to 38 per cent.
The starter homes, measuring from 260 to 510 sq ft, could be sold at a knockdown price of about HK$3 million to HK$7 million, according to sources familiar with the matter.
Cheung Mo Ching reports.