New World Development (HKG:0017) priced the first 88 units of its State Pavilia project at an average of HK$18,540 per square foot, the South China Morning Post reported Thursday.

The price is at an eight-year low at the Eastern district, according to the SCMP.

The project is located at a redevelopment of the former State Theatre in North Point, the report said.

Meanwhile, Sun Hung Kai Properties (HKG:0016) priced the first batch of properties at the Lime Gala project at HK$17,732 per square foot, 13% lower than its accommodation value of HK$21,500, the report said.

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