CK ASSET(HK:01113) Mei Ri Jing Ji Xin Wen·2025-06-19 14:18Core Viewpoint - The owners of Beijing Yucuiyuan are frustrated as the promised benefits and discounts have been revoked shortly before the handover of their properties, leading to dissatisfaction and uncertainty in the market [1][3][6]. Group 1: Project Background - Yucuiyuan, marketed as "Li Ka-shing's last project in Beijing," has seen its land value increase over 50 times since it was acquired 23 years ago [2]. - The project was launched with a selling price exceeding 80,000 yuan per square meter for a 140 square meter unit [3]. Group 2: Pricing and Sales Dynamics - During the "May Day" holiday, Yucuiyuan offered discounted prices starting at approximately 70,000 yuan per square meter, which was about a 30% discount from the highest recorded price [4]. - Despite initial interest, the actual transaction volume was low, with only 90 units signed online at an average price of 78,000 yuan per square meter [4][9]. Group 3: Promised Benefits and Customer Reactions - Owners were promised substantial "renovation packages" worth up to 110,000 yuan, which were later canceled, leading to significant disappointment among buyers [6][11]. - The sales strategy has been criticized for its inconsistency, with buyers feeling misled by the sudden changes in pricing and benefits [11][16]. Group 4: Market Position and Future Outlook - Yucuiyuan is positioned as a quasi-finished property with established surrounding amenities, but faces challenges due to outdated design and high renovation costs [13]. - The project is expected to reopen for sales at a price range of 80,000 to 85,000 yuan per square meter, raising concerns about buyer interest given the recent pricing history [9][16].