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12 Mar 2001
Ocean Shores Phase Two Again Offers Best of Both Worlds

Swire Properties, the sales agent for Ocean Shores, announce today (Monday, 12 March 2001) the sales details for the second phase of this joint venture project with Sun Hung Kai Properties.

There will be 32 units offered for sale in the first batch with an average price of $2,988 psf. Ballot registration will take place from 19 March 2001 to 21 March 2001 at Cityplaza Four Ground Floor Lobby. Flat selection will be held at the same location on 24 March 2001.

Two special payment terms are designed for Phase Two buyers who are currently living in leased units or those who want to upgrade and are living in mortgaged flats. Cash/immediate mortgage payment term with interest waived for the first 12 months allows buyers extra flexibility, whilst the extended payment period fits into the new mortgage insurance programme offered by the Hong Kong Mortgage Corporation Limited for presale units.

"With improvements in the economy and in market sentiment accompanied by the recent interest rate cut and decline in unemployment rate, we are confident that this is the right time to launch the second phase of this quality development," said Mr Peter Kok, Senior Development Manager of Swire Properties.

Affordability is currently at the most favourable position since late 1980s. Furthermore, the new mortgage insurance programme recently launched by the Hong Kong Mortgage Corporation Limited provides mortgage loans with loan-to-value ratio of up to 85 per cent for presale units.

"All these factors have created the best opportunity for the public to become homeowners," commented Mr Kok.

As with the first phase of this prime residential project, every detail of Ocean Shores Phase Two has been meticulously planned to provide future residents with extra value for money. The accommodation offered in two or three bedroom units, with sizes ranging between 678 to 891 square feet, will prove even more affordable, while at the same time enjoying all of the exceptional facilities that elevate Ocean Shores way beyond the standards available in this price range elsewhere.

With the comfort of a suburb environment combined with the convenience of the city centre, Ocean Shores is the right choice for everyone in pursuit of quality of life. A dedicated estate driveway links the development directly to Lam Tin and the Eastern Harbour Crossing. A deluxe express bus service will traverse this route to deliver residents to downtown destinations minutes away.

Augmenting this shuttle service is the new East Kowloon MTR line that will complement the scheduled occupation date of Phase Two as it goes into operation next year. A covered footbridge takes Ocean Shores residents directly to the adjacent Tiu Keng Leng MTR station, a new MTR Interchange.

Unblemished greenery embraces the 1,536 units in the four residential towers that make up the second phase, while some units offer breath-taking seaviews to suit the many tastes. More than 350,000 square feet of recreational space will include 120,000 square feet of landscaped garden and an extensive clubhouse. A total of 16 outdoor and indoor pools form the Water Fun World, which boasts the most pools of any residential projects in the territory.

Other recreational features include a six-lane bowling alley, four tennis courts, a simulated golf centre, golf putting area, two squash courts, fitness centre and aerobics room with full height glass wall, steam and sauna rooms, billiard room and multi-purpose indoor gymnasium. An innovative play environment for children, 'i.Kids World' stresses innovative, intellectual and interactive features that stimulate young minds.

Ocean Shores takes on the renowned tradition of Swire Properties and Sun Hung Kai Properties to offer future buyers the best quality and environment. Only the finest fittings and finishes are used in the development, including world famous brands. Quality management provided by Kai Shing Management Services Ltd. will give residents extra peace of mind.

"Every element of a good life is available right at the residents' fingertips with comprehensive facilities, incomparable accessibility and exceptional finishes and quality," Mr Kok added.

With eventual completion of its third phase, Ocean Shores will accommodate more than 5,000 residential units in a total of 15 blocks - equivalent to half the size of Island East's massive, long established and still popular Taikoo Shing.

Show flats of Ocean Shores Phase Two are located on the ground floor of Cityplaza Four and are open to the public between 11:30 am to 9:30 pm from Monday to Friday, and 10 am to 9:30 pm on Saturday, Sunday and public holiday beginning 13 March 2001.

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