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Hong Kong property prices could rise 5 pct next year, Chow told reporters after SHKP's annual general meeting today, noting that the group's "satisfactory" launch of two housing projects reflects the resilence of the property market.
The company raised 3.8 bln hkd from the sale of 650 units at two residential projects, La Grove and Peak One, during the weekend.
Vice-chairman Thomas Kwok said in a news briefing that the controlling Kwok family will continue to buy shares in the company.
Kwok also said he expects local property prices to stabilize next year, with a rebound in transactions.
Meanwhile, vice-chairman Raymond Kwok said Kwong Siu-hing, mother of the Kwok brothers, was been renominated to the company's chair at the shareholder meeting today.
Sun Hung Kai's board removed Walter Kwok, the eldest of the brothers, as chairman in May and replaced him with his 79-year-old mother.
(1 usd = 7.8 hkd)
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