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Miramar units cost more.

Asia Africa Intelligence Wire

| September 10, 2004 | COPYRIGHT 2004 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From The Standard)

Byline: Eli Lau

Miramar Hotel and Investment Company said rents for a new batch of 48 serviced units at Pinnacle Apartment in Tsim Sha Tsui will be up to 8 per cent higher than the first batch.

Monthly rents will range from HK$14,000 to HK33,000, or HK$35 per square foot to HK$40 psf. The one-bedroom flats measure 503 sq ft and two-bedroomed are 709 sq ft.

The first batch of 52 apartments is about 90 per cent occupied, vice-president for sales and marketing Uris Fong said. ``We expect to reap a monthly rental income of HK$2 million if all 100 serviced ...

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