{"id":23798,"date":"2021-06-14T10:07:56","date_gmt":"2021-06-14T03:07:56","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=23798"},"modified":"2021-06-14T10:07:56","modified_gmt":"2021-06-14T03:07:56","slug":"1-4-million-hong-kong-apartment-offered-in-vaccination-lottery","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/1-4-million-hong-kong-apartment-offered-in-vaccination-lottery\/","title":{"rendered":"$1.4 million Hong Kong apartment offered in vaccination lottery"},"content":{"rendered":"

The 449 square foot Grand Central apartment facing the Kowloon Peak is the biggest prize\u00a0to\u00a0<\/span>induce the vaccination rate<\/span><\/p>\n

\"\"
The Grand Central apartment for the lucky draw is co-sponsored by Chinese Estates Holdings and the Ng Teng Fong Charitable Foundation. Source: PatrickFoto\/Shutterstock\u00a0<\/span>\u00a0<\/span><\/figcaption><\/figure>\n

In an effort to<\/span>\u00a0encourage Hong Kong\u2019s residents to take up the COVID-19 vaccine, an HKD10.8 million (USD1.4 million) apartment developed by one of the city\u2019s largest property developers is offered in the va<\/span>ccination lottery, reported South China Morning Post<\/a>.\u00a0<\/span>\u00a0<\/span><\/p>\n

The property is a\u00a0<\/span>single room<\/span>\u00a0flat at Sino Land\u2019s Grand Central project<\/span>\u00a0in Kwun Tong on the eastern side of Kowloon.\u00a0<\/span>In the 1950s, the area was formerly an important industrial hub, but it has now evolved into a district\u00a0<\/span>crowded\u00a0<\/span>with<\/span>\u00a0<\/span>restaurants<\/span>, cafes, lifestyle shops, and premium commercial buildings.\u00a0<\/span>\u00a0<\/span><\/p>\n

The apartment is considered the biggest magnet in the vaccination lottery valued at more than HKD120 million. <\/span>So far<\/span>, the bag of goodies\u00a0<\/span>includes a Tesla, a diamond-studded Rolex, and 300 taels of pure gold, offered by several of Hong Kong\u2019s largest real estate developers, billionaires, charities, and other individuals.\u00a0<\/span>\u00a0<\/span><\/p>\n

Thomas Lam, executive director at Knight Frank, said, \u201cGrand Central is located next to the MTR station in Kwun Tong, part of the Kwun Tong Redevelopment Plan, the largest such plan ever mapped out by the Urban Renewal Authority (URA). It is really coming up as a cool neighborhood.\u201d<\/span>\u00a0<\/span><\/p>\n

More: Hong Kong\u2019s booming luxury housing market could snap up \u2018Jardine\u2019s Lookout\u2019<\/strong><\/a><\/p>\n

The Grand Central apartment for the lucky draw is co-sponsored by<\/span>\u00a0Chinese Estates Holdings and<\/span>\u00a0the Ng Teng Fong Charitable Foundation. The sponsors will foot the transaction costs, stamp duty, and the first year\u2019s management fee at a rate of HKD4 per square foot per month. Alternatively,\u00a0<\/span>Lam said\u00a0<\/span>the\u00a0<\/span>winner<\/span>\u00a0could hold it as an investment<\/span>\u00a0or\u00a0<\/span>le<\/span>ase i<\/span>t for more than HK<\/span>D<\/span>200,000 of rental income annually<\/span>.<\/span>\u00a0<\/span><\/p>\n

Registration for the luxury flat lottery will open at 9 am on June 15 and will end on or before September 1. More people have booked vaccination since the promotions started<\/span>,<\/span> with\u00a038,089 applicants on June 10, triple the level in mid-May.<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The 449 square foot Grand Central apartment facing the Kowloon Peak is the biggest prize\u00a0to\u00a0induce the vaccination rate\u00a0\u00a0<\/p>\n","protected":false},"author":12,"featured_media":23799,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[653,171,1870,1055],"class_list":["post-23798","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-apartment","tag-hong-kong","tag-lucky-draw","tag-vaccination","news_country-hongkong","news_author-property-report"],"acf":[],"yoast_head":"\n$1.4 million Hong Kong apartment offered in vaccination lottery | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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