Feb. 1, 2007 (China Knowledge) – Shun Tak Holdings (242) said more than HK$6 billion has been generated from sales of One Central Residences, the company's joint-venture luxury residential project in Macau with Hongkong Land.

About 90% of the apartments, or 700 units, have been sold at an average selling price of HK$5,000 per square foot, the company said. Some units sold for as much as HK$6,300 psf.

One Central Residences, which has 796 units in total, kicked off sales early last November when it sold an entire block of 68 flats to an insurance company from Iceland for HK$782 million, or about HK$4,400 psf.

Despite the positive announcement, Shun Tak’s shares dipped 5.76% to HK$10.48 yesterday.