Cheung Kong’s Posh Villas Sell Out in One Weekend

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May 11 – Li-Ka Shing’s Cheung Kong Property Developers first phase development at La Grande Villas, close to Beijing’s International Exhibition Center, sold out it’s entire stock of house units over 48 hours this past weekend.

The development, which comprises luxury houses priced at between US$750,000 to US$2 million, sold out all 138 properties at the weekend.

Prices have already gone up by more than US$16,000 for the smallest unit overnight today from Sunday, suggesting speculators are now back in Beijing’s property market, and reinstalling confidence in the higher end of Chinese real estate.

La Grande Villas is situated close to international schools, the Beijing Capital Airport, and several golf clubs. The Cheung Kong Property Developers have a history of building massive real-estate developments in Beijing, including the impressive Oriental Plaza.