Chinese Estates Holdings to continue focusing on luxury projects in HK

Chinese Estates Holdings said it was planning to launch a residential project in Sai Wan, Hong Kong in the second half of the year and the firm would continue concentrating on luxury projects.

"Our development strategy would be the same as before. We will focus on our existing projects. Since the land and construction costs in Hong Kong are high, we will continue to develop projects in luxury residential areas," Lau Ming-wai said in the firm's annual general meeting yesterday.

He said the company would launch its redevelopment project at 1 South Lane in Sai Wan in the second half. The 28-storey building is scheduled for completion in 2015.