28 May 2014 - The SCMP today reported that Cheung Kong sold all 591 units offered as part of its first batch of sales of the City Point Development in Tsuen Wan yesterday.  Cheung Kong said that the project, with 1,717 units in total, should launch the second batch of sales – 354 units – later this week.

The first batch was announced in conjunction with price discounts up to 15.75%, attracting over 13,500 people to register as purchasers – the most for a new project in 12 years.

The strong interest in the development may in part have been due to the optimism surrounding recent announcement of the government’s relaxation of the Double Stamp Duty, effectively extending the period for people upgrading their flat to sell their old unit without incurring a double stamp duty from 6 months to 7 or 8 months.