Hip Shing Hong’s Ho Man Tin Brand-new Residential Development “MADERA GARDEN” First Price List features 30 units covering 1- and 2-bedroom units with a Discounted Price from HK$6,800,0001 and the Lowest Discounted Price per square foot at HK$23,188

1024 670 Hip Shing Hong (Holdings) Company Limited

(22 July, 2021, Hong Kong) Launched by Hip Shing Hong (Holdings) Company Limited (“Hip Shing Hong”), the brand-new residential development located at 5 Victory Avenue, Ho Man Tin#, MADERA GARDEN is situated in a prestigious residential area and a superb geographical location. Following the opening of the unmodified show flat for media preview, Hip Shing Hong announced the first price list for the project today. In total, 30 units will be available for sale, covering 14 units of one-bedroom and 16 units of two-bedroom with a saleable area3 from 286 square feet to 465 square feet, and with discounted prices from HK$6,800,0001.

Unit prices on the first price list of Madera Garden range from HK$7,556,000 to HK$15,055,000, and the price per square foot of saleable area3 is from HK$25,766 to HK$32,376. After deducting discounts of up to 10%4, the discounted unit prices range from HK$6,800,0001 to HK$13,550,0001, and the discounted price per square foot is from HK$23,1882 to HK$29,1402.

Ms. Ruby Chan, Senior Project Manager, Hip Shing Hong (Holdings) Company Limited said, “Madera Garden is located right at the heart of the transportation hub of Kowloon and enjoys the advantages of the convergence of 2 MTR stations across 3 lines5. It is affiliated with School Net 34, with a lot of elite schools and great potential. In addition to the strong demand projected by recent market conditions, the group is very confident in the sales performance of the project. The pricing of this price list made reference to the prices of residential projects in the heart of ​Kowloon which can be described as “Close-to-market Price”, so we are confident in attracting young families. Taking unit B, 2/F, a 1-bedroom unit, as an example, the saleable area3 of the unit is 286 square feet and its unit price is HK$7,556,000. After deducting the highest discount of 10%4, the discounted price per square foot of saleable area3 is HK$23,7762, while the discounted price is HK$6,800,0001, which is HK$756,000 less than the original price.”

In order for buyers to achieve their home-owning plans with ease, the first price list mainly offers two payment methods, namely “Cash Payment” and “Stage Payment” which are designed to meet the different needs of buyers. Among them, the project’s cash payment method provides not only a “Cash Payment Plan”, but also a “Standby First Mortgage Loan Payment Plan”. Buyers of units with a price of less than HK$10 million can apply for up to 90% mortgages through the “90-day Mortgage Payment Plan”; for units with a price of HK$10 million or above, buyers can apply for a mortgage of up to 85% through the “90-day Mortgage Payment Plan”. If buyers choose the “Cash Payment Plan”, they can enjoy a 4% discount6; while buyers who adopt the “Standby First Mortgage Loan Payment Plan” can enjoy a 3% discount6; and buyers who select the “Stage Payment” method can also enjoy a 2% discount6.

Apart from the abovementioned discounts, if they sign a Preliminary Agreement for Sale and Purchase on or before October 30, 2021, a 1% “Early Bird Discount” can be gained together with other discounts, including 1% “Like Facebook/Instagram Benefit”7 and 4% “Stamp Duty Subsidy Benefit”. Therefore, buyers can enjoy up to 10% in total discount4 if they choose the “Cash Payment Plan”; while they can also enjoy up to 9% in total discount8 for the “Standby First Mortgage Loan Payment Plan” and up to 8% in total discount9 for the “Stage Payment Plan” method. For details, please refer to Price List No. 1.

In addition, MADERA GARDEN will officially open its show flat and sales hall to the public from 11am to 8pm starting from this Saturday (24 July), the address is G/F, Hip Shing Hong Kowloon Centre, 192-194 Nathan Road, Jordan.

For details of payment terms, discounts, financial incentives or benefits, please refer to Price List No. 1.


Ms. Ruby Chan, Senior Project Manager, Hip Shing Hong (Holdings) Company Limited (left) and Ms. Vivian Cheung, Head of Property Development (right) unveil the first price list details of MADERA GARDEN.

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About Hip Shing Hong (Holdings) Company Limited
Established in 1948, Hip Shing Hong (Holdings) Company Limited (Hip Shing Hong) has rejuvenated itself many times over to stay young, active and innovative.

Hip Shing Hong’s leadership and financial prudence have allowed it not only to have surfed the volatile real estate market, but also built a robust portfolio of real estate in response to dynamic market trends, which includes hotels, office buildings, high-end homes and over 200 retail properties. Hip Shing Hong revitalizes its portfolio constantly with new technologies and young talents to stay competitive and relevant. It has successfully created reputable brands like Office Plus, The Collab, Madera Residences, Madera Hotel, Madera Cafe, Madera Yoga, Genesis, Gravity, Le Riviera and many others.

Hip Shing Hong strives to do well and do good. Since the early 1960’s, it has donated to over 500 charitable projects large and small, benefiting the underprivileged and people in crises.

Hip Shing Hong’s management excellence is reflected by its collection of accolades. To mention a few, they include the “15 Years Plus Caring Company Logo” and “Meritorious Family-Friendly Employers and Special Mention (Gold)”. Other awards include the “Best Office Architecture Hong Kong” and “Highly Commended Office Development Hong Kong”. Hotel Madera Hong Kong, its hotel arm, captured the “Green Management Award – Service Provider (SME) – Gold” at “Hong Kong Green Awards 2020” by Green Council, and was listed in “The Michelin Guide Hong Kong Macau 2021”. For details, please visit www.hshd.com.hk.

This press release is issued by Strategic Communications Consultants Limited with the consent of Hip Shing Hong (Holdings) Company Limited.

For media inquiries, please contact:
Strategic Communications Consultants Limited (SCC)
Mr. Jonathan Tam
Tel: 2114 4321 / 6243 8113
Email: jonathan.tam@sprg.com.hk

Ms. Nicole So
Tel: 2114 4980 / 9793 8060
Email: nicole.so@sprg.com.hk

Hip Shing Hong (Holdings) Company Limited
Ms. Becky Hung
Tel: 2978 3055
Email: beckyhung@hshd.com.hk

Ms. Kelly Chu
Tel: 2978 3083
Email: kellychu@hshd.com.hk

  1. “HK$6,800,000” is the price of Unit B, 2/F shown in the Price List No. 1 uploaded on July 22, 2021 after applying the 10% maximum discount (see 4), which is the lowest possible unit price. For details, please refer to the Price List No. 1 (and the price list revised from time to time). The discounts mentioned are not applicable to all buyers. The vendor reserves the right to make the final decision on whether or what discounts or promotions the buyer can enjoy.
    “HK$13,550,000” is the price of Unit A, 21/F shown in the Price List No. 1 uploaded on July 22, 2021 after applying the 10% maximum discount (see 4), which is the lowest possible unit price. For details, please refer to the Price List No. 1 (and the price list revised from time to time). The discounts mentioned are not applicable to all buyers. The vendor reserves the right to make the final decision on whether or what discounts or promotions the buyer can enjoy.
  1. HK$23,188 is calculated by applying the 10% maximum discount (see 4) to the price of Unit C, 3/F shown in Price List No.1 of the Development uploaded on July 22, 2021 and dividing by the saleable area of ​​the unit.
    HKD 29,140 is calculated by applying the 10% maximum discount (see 4) to the price of Unit A, 21/F shown in Price List No.1 of the Development uploaded on July 22, 2021 and dividing by the saleable area of ​​the unit.HK$23,776 is calculated by applying the 10% maximum discount (see 4) to the price of the unit B, 2/F shown in Price List No.1 of the Development uploaded on July 22, 2021 and dividing by the saleable area of ​​the unit.**The above price per square foot is the lowest possible price per square foot. For details, please refer to the Price List No. 1 (and the price list revised from time to time). The above-mentioned offers are not applicable to all buyers, and the vendor reserves the right to make the final decision on whether or what discounts or promotions the buyer can enjoy.
  1. The saleable areas including the floor areas of balcony, utility platform and veranda (if any) to the extent that it forms part of the residential property are calculated in accordance with Section 8 of the Residential Properties (First-hand Sales) Ordinance. The saleable areas do not include the specified items (if any) under Part 2 of Schedule 2 of the Residential Properties (First-hand Sales) Ordinance. The above areas have been converted to square feet based on a conversion rate of 1 square metre = 10.764 square feet and rounded off to the nearest integer and the area shown in square feet may be slightly different from that shown square
  1. The maximum discount offer is 10%, including 4% off the price of “Cash Payment Plan”, 1% off for “Like Facebook/Instagram Benefit”, 1% off for “Early Bird Discount”, 4% off for “Stamp Duty Subsidy Discount”. The above offers may not be applicable to all buyers. For details, please refer to the development project Price List No. 1 uploaded on July 22, 2021. Please refer to 6 for the payment terms of the Cash Payment Plan.
  1. “2 stations” and “3 lines” refer to Mong Kok Station on Tsuen Wan Line and Kwun Tong Line near the Development, and Mong Kok East Station on East Rail Line.
  1. According to the Price List No. 1 uploaded on July 22, 2021:
    The payment terms of the “Cash Payment Plan”: 5% of the Transaction Price being the Preliminary Deposit shall be paid upon signing of the preliminary agreement for sale and purchase. 5% of the Transaction Price being Further Deposit shall be paid within 30 days after signing of the preliminary agreement for sale and purchase. The balance of the Transaction Price (i.e. 90% of the Transaction Price) shall be paid within 90 days after signing of the preliminary agreement for sale and purchase.The payment terms of the “Standby First Mortgage Loan Payment Plan”:For residential property with transaction price under HK$10 million, 5% of the transaction price being the preliminary deposit shall be paid upon signing of the preliminary agreement for sale and purchase. 5% of the transaction price being Further Deposit shall be paid within 30 days after signing of the preliminary agreement for sale and purchase. The balance of the Transaction Price (i.e. 90% of the Transaction Price) shall be paid within 90 days after signing of the preliminary agreement for sale and purchase.For residential property with transaction price of HK$10 million or above, 5% of the transaction price being the preliminary deposit shall be paid upon signing of the preliminary agreement for sale and purchase. 5% of the transaction price being Further Deposit shall be paid within 30 days after signing of the preliminary agreement for sale and purchase. 5% of the Transaction Price being Part Payment shall be paid within 60 days after signing of the preliminary agreement for sale and purchase. The balance of the Transaction Price (i.e. 85% of the Transaction Price) shall be paid within 90 days after signing of the preliminary agreement for sale and purchase.The payment terms of the “Stage Payment Plan”: 5% of the Transaction Price being the Preliminary Deposit shall be paid upon signing of the preliminary agreement for sale and purchase. 5% of the Transaction Price being Further Deposit shall be paid within 90 days after signing of the preliminary agreement for sale and purchase. 90% of the Transaction Price being balance of the Transaction Price shall be paid by the Purchaser(s) within 14 days of the date of the written notification to the Purchaser(s) that the Vendor is in a position validly to assign the Property to the Purchaser(s).
  1. When “follow” “Living Aesthetics” on Instagram (link: instagram.com/livingaestheticshk/) or “like” on the Facebook page (link: www.facebook.com/LivingAestheticsHK/), buyers can get an additional 1% discount on the price.
  1. The 9% discount includes the “Standby First Mortgage Loan Payment Plan” discount of 3% off the sale price, 1% discount of the “Like Facebook/Instagram Benefit”, 1% discount of the “Early Bird Discount”, and 4% discount of the “Stamp Duty Subsidy Benefit”. The above offers may not be applicable to all buyers. For details, please refer to the development project Price List No. 1 uploaded on July 22, 2021. Please refer to 6 for the payment terms of the Standby First Mortgage Loan Payment Plan.
  1. The 8% discount includes the “Stage Payment Plan” discount of 2% off the sale price, 1% discount of the “Like Facebook/Instagram Benefit”, 1% discount of the “Early Bird Discount”, and 4% discount of the “Stamp Duty Subsidy Benefit”. The above offers may not be applicable to all buyers. For details, please refer to the development project Price List No. 1 uploaded on July 22, 2021. Please refer to 6 for the payment terms of the Stage Payment Plan.

Name of the Development: Madera Garden (the “Development”) | The district at which the Development is situated: Ho Man Tin
The name of the street at which the Development is situated and the street number allocated by the Commissioner of Rating and Valuation for the purpose of distinguishing the Development: 5 Victory Avenue ﹟
Address of the website designated by the Vendor for the Development: www.madera-garden.com.hk

The photographs, images, drawings or sketches shown in this advertisement/promotional material represent an artist’s impression of the development concerned only. They are not drawn to scale and/or may have been edited and processed with computerized imaging techniques. Prospective purchasers should make reference to the sales brochure for details of the development. The vendor also advises prospective purchasers to conduct an on-site visit for a better understanding of the development site, its surrounding environment and the public facilities nearby.

Vendor: Gainwin Enterprises Limited  | Holding companies of the Vendor: Not applicable | Authorized Person for the Development: Mr. Lai Siu Kin | The firm or corporation of which the Authorized Person for the Development is a proprietor, director or employee in his professional capacity: Lu Tang Lai Architects Limited | Building Contractor for the Development: Ching Lee Engineering Limited | The firms of solicitors acting for the owner in relation to the sale of residential properties in the Development: Woo Kwan Lee & Lo | Authorized institution that has made a loan, or has undertaken to provide finance, for the construction of the Development: Not applicable | Any other person who has made a loan for the construction of the Development: Hip Shing Hong Development Company Limited | The estimated material date for the Development to the best of the Vendor’s knowledge: 30 September 2022 (“Material date” means the date on which the development is completed in all respects in compliances with the approved building plans. The estimated material date is subject to any extension of time that is permitted under the agreement for sale and purchase.)

Prospective purchasers are advised to refer to the sales brochure for any information on the Development. | Please refer to the Sales Brochure for details of the Development. | This advertisement is published by or with the consent of the Vendor| # The above provisional street number is subject to confirmation when the Development is completed.

The vendor reserves the right to alter the building plans and other plans and the design of the development and any part thereof from time to time. The building design is subject to the approval of the relevant government authorities. | The Development and its surrounding environment may change from time to time. | This advertisement and contents thereof are for reference only and do not constitute and shall not be construed as constituting any contractual term, offer, representation and warranty, whether express or implied (whether related to view or not). | Market conditions may change from time to time. Prospective purchasers shall consider their own financial status and ability to afford and all relevant factors before deciding whether to purchase or when to purchase any residential property. In any circumstances or at any time, prospective purchasers shall not rely on or be affected by any content, information or concept of this advertisement/promotional material in deciding whether to purchase or when to purchase any residential property.

Printing date:  22 July, 2021

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