HONG KONG, Dec. 7 /Xinhua-PRNewswire-FirstCall/ -- Physical Property Holdings Inc. (OTC Bulletin Board: PPYH) announced today that according to an article published recently by Ms. Peggy Sito in the South China Morning Post that the property sales in Hong Kong surged to the highest level in a decade in November, as lower interest rates, rising employment and household incomes as well as a strong stock market encouraged more home-buying. November’s sharp increase was mainly boosted by sale of 15,759 residential units with a total value amounted to approximately US$9 billion.
"We are pleased to experience the recent property market boom in Hong Kong to its 10 years peak, approaching the highs seen before 1997 Asia financial crisis," delighted Mr. Ngai Keung Luk, Chairman and CEO of Physical Property Holdings Inc. "We expect to see more interest rate cuts in the US to provide a favorable environment for the housing market in Hong Kong. This market boom and favorable environment will certainly benefit our existing property holdings and future acquisition. We, again, will continue to seek acquisition opportunities of real estate units in Hong Kong as well as in major cities of China."
About Physical Property Holdings Inc.
Physical Property Holdings Inc. is a comprehensive real estate management and investment service group, focusing on the real estate market in the Greater China region. For more detailed information and our recent development, please visit our corporate website at http://www.physicalproperty-ppyh.com .
Safe Harbor
Information in this news release or on this website may contain statements about future expectations, plans, prospects or performance of Physical Property Holdings Inc. that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases “can be,” “expects,” “may affect,” “believed,” "estimate,” “project,” and similar words and phrases are intended to identify such forward-looking statements. Physical Property Holdings Inc. cautions you that any forward-looking information provided by or on behalf of Physical Property Holdings Inc. is not a guarantee of future performance. None of the information on this website constitutes an offer to sell securities or investment advice of any kind, and visitors should not base their investment decisions on information contained in this website. Physical Property Holdings Inc.’s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Physical Property Holdings Inc.’s control. In addition to those discussed in Physical Property Holdings Inc.’s press releases, public filings, and statements by Physical Property Holdings Inc.’s management, including, but not limited to, Physical Property Holdings Inc.’s estimate of the sufficiency of its existing capital resources, Physical Property Holdings Inc.’s ability to raise additional capital to fund future operations, Physical Property Holdings Inc.’s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match Physical Property Holdings Inc.’s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Physical Property Holdings Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
For more information, please contact:
Investors Relation Officer
Tel: +852-2917-0110
Fax: +852-2890-9484
Email: property@physical.com.hk
