Positive: 1) The Urban Renewal Authority’s (URA) Shum Shui Po project (142k
GFA) received 14 expressions of interest from developers. 2) Property agencies
Centaline and Midland expect HK residential property prices to be healthy in
2010. Neutral: Property agency Ricacorp expects the number of new residential
units available for sale in HK in 2010 will drop by 12% YoY to 23k, but the actual
number of units launched is likely to be 13k, in line with the ytd 2009 figure.