Sheng Yumen Tianchi House Payment Rules Exposure

The First-hand Residential Property Sales Authority (SFC) requires developers to specify in the register of transactions the details of the payment terms agreed with the purchaser in relation to the sale and purchase of the property. The Hung Hom Supreme Gate, which was developed by SHKP (00016) and Shun Tak (00242), was awarded a total of 263 million yuan to purchase the top two Tianchi Houses on the 21st of this month. The latest transaction details are listed in the project transaction record. The amount to be paid at each stage before the completion of the transaction is from 3.2 million to 108.8 million yuan.

The sales record of Sheng Yumen is the latest in the payment rules mentioned in the above two Tianchi Houses in the bidding documents. One of the 37- and 38-floor A-rooms, Tianchi House, sold for $128 million, will be paid 5% when the buyer bids. After that, sign the formal sale and purchase agreement and pay $3.2 million each on or before July 20 this year; pay another $6.4 million on or before November 20 this year, and pay it on or before the 240th day after the seller accepts the tender. Pay 108.8 million yuan.

For the two singapore houses of Room A, 37 and 38, which were sold for $135 million, they will pay a price of 5% after the tender and will pay a total of $3.375 million respectively before the signing of the formal sale and purchase agreement and on or before June 20 this year. On July 20 and September 20, an additional 6.75 million yuan will be paid, and the same payment will be made on the 240th day before the seller accepts the tender. According to the tender documents, the buyers purchased by flexible payment method, so they have a long-term delivery plan. The contract completion date is the agreement between the buyer and the seller, and the transaction record is not shown.