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Thursday, Jan 20, 2022

Property agencies go to court for commission over Evergrande flats

Property agencies go to court for commission over Evergrande flats

Two property agencies have sued two companies responsible for selling China Evergrande's flats in Hong Kong for failing to pay HK$47.5 million commission fees.
Hong Kong Property Services (Agency) and Midland Realty International filed the writs to the High Court on Monday against Fortune Choice Development and Twin City Holdings.

Fortune Choice is responsible for the sale of China Evergrande's Emerald Bay in Tuen Mun, while Twin City is in charge of the Vertex in Cheung Sha Wan.

Hong Kong Property Services said it helped sell 31 Vertex flats and should get a total of HK$4.6 million for commission, but it was paid HK$300,000 only. It helped sell another 31 Emerald Bay flats and should get HK$4.64 million commission, and was paid HK$600,000.

As for Midland, it helped sell 30 Vertex flats and should have gotten HK$4.87 million of commission but was paid HK$70,000. It also facilitated the sales of 337 Emerald Bay flats and should have gotten HK$39.8 million commission. It was paid HK$5.4 million.
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