Group 1 - The core viewpoint indicates that the completion of private residential units in Hong Kong for Q1 reached 34% of the annual forecast of 20,862 units, with an estimated completion of around 20,000 to 21,000 units for the year, aligning closely with the forecast [1] - Major projects expected to obtain occupancy permits include "PARK SEASONS" (685 units), "SEASONS PLACE" (650 units), "柏珑III" (680 units), and "晓柏峰" (492 units) [1] - The latest data from the Hong Kong Buildings Department shows that in April 2025, there were 193 private residential units under construction, a 79% increase from 108 units in March 2025, although the actual pace of construction remains slow [1] Group 2 - In April, five private residential projects were completed in Hong Kong, with the largest being "Belgravia Place I" in Cheung Sha Wan, involving 714 units, followed by "亲海駅II期" in Yau Tong with 658 units [2] - In the first four months of the year, 16 projects in Kowloon accounted for 6,729 units completed, representing approximately 94.8% of the total, while only five projects in Hong Kong Island contributed 368 units, about 5.2% of the total [2] - No private residential projects were completed in the New Territories during the same period [2]