K&K offers extra warranty to One Stanley homebuyers amid building defects furore
Developer K&K Property has announced plans to offer a six-year structural warranty to homeowners at its luxury One Stanley development, as the company seeks to move on from a growing furore over alleged construction defects at the complex. “As the developer of the One Stanley development project, we attach great importance to the recent public attention surrounding one of the detached houses in…
K&K Property, the developer of the luxury One Stanley development in Hong Kong, has announced a six-year structural warranty for homeowners at the complex in response to growing concerns over alleged construction defects. The decision comes as the government initiates an investigation into work quality issues at the project, located on the southern side of Hong Kong Island.
K&K Property stated that in addition to their original three-year defect liability period, they will provide the extended six-year warranty calculated from the completion date, along with property inspections by independent professionals and the associated costs, specifically arranged on a case-by-case basis.
The government probe has raised concerns among banks and property agencies, with some suspending viewings at the complex during the investigation. Despite proposed joint inspections by the buyer and K&K Property, no agreement was reached. The developer affirmed that there is no immediate danger to the overall building structure, but experts have called for improved homebuyer protections, including a mandatory period for buyers to rescind contracts in the presence of statutory violations.
K&K Property has been in contact with owners who have completed their transactions and is currently reaching out to buyers with ongoing transactions.
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