Henderson Land halts sale of 516 The Reach units

Find out what the reason could be.

According to Maybank Kim Eng, only 4 units of Green Code (developed by HK Ferry Holdings (50) located in Fanling) were transacted over the weekend, from 3 total available projects (together with Dunbar Place by Swire Properties (1972) and The Avery by Sino Land (83)). 

It also reported that Henderson Land (12) has halted the sale of 516 remaining units of The Reach in Yuen Long, originally scheduled to be re-launched over the weekend, due to compliance issue of sales brochure under the new First-Hand Sales Ordinance.

"The three projects currently on sale together with The Reach will be the market focus towards the beginning of June. We believe that new launches by major developers such as Cheung Kong (1), SHK Properties (16) and Sino Land will be pushed back to second half of the year, thus affecting the sentiment of physical market further," Maybank Kim Eng said.