Staff reporter

Local property investment firm Gale Well Group has reportedly put Jade Beach Villa at Chung Hom Kok, Stanley up for sale with an asking price of HK$2 billion, in a bid to reduce debts amid high interest rates.

The luxury project, located on 3-7 Horizon Drive, was built in 1977. It spans approximately 102,000 square feet and comprises 30 residential units including 18 houses with a total floor area of around 55,900 sq ft.

Based on a rebuildable floor area of about 57,000 sq ft, the land price per square foot is HK$34,900, The Standard's sister newspaper Sing Tao Daily reported.

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