Sun Hung Kai Properties (SHKP) has released the first batch of residential units from its majority-owned Forest Hills in the Tianhe financial centre in Guangzhou earlier and according to SHKP announcement the units were sold in just three hours, generating RMB one billion in revenue.
     The Forest Hills project is 70% owned by SHKP. The first batch units, released at the end of last year fetched approximately RMB38,000 per sq m (HK$4,300 per sq ft) and the price for duplexes was over RMB70,000 per sq m (HK$8,000 per sq ft).
     Forest Hills is an integrated development comprising high-end residences and office space. The project will have two million square feet of high-end residences in seven blocks and a grade-A office tower, providing about 1,100 residential units. The first release included mainly three- to four-bedroom units ranging from 1,500 to 2,200 square feet of blocks B1 and B2, plus a few 3,300-square-foot units and 5,000-square-foot duplexes.
     The design is stylish with calculated unity, featuring elegant streamlining to create a New York City lifestyle and feel. The clubhouse, landscaped pools and lobby will meet five-star hotel standards. The 32,000-square-foot-plus clubhouse will have banquet rooms, indoor and outdoor pools, a gym, activity rooms and children's playrooms. The project will have a 'city oasis' theme and a green ratio of 40%, including green roofs, vertical greening and a greenery garden. More than 1,000 trees and species of rare plants will be incorporated. The project has Leadership in Energy and Environmental Design (LEED) Core and Shell Development silver pre-certification from the US Green Building Council.


Forest Hills - 7 blocks of high-end residences providing about 1,100 units