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Omni liquidating $350 million worth of Lower Mainland condos

A local real-estate developer is liquidating $350 million of condoinventory across the Lower Mainland, the Onni Group announced Thursday.

A local real-estate developer is liquidating $350 million of condo inventory across the Lower Mainland, the Onni Group announced Thursday.

The sale, which will see discounts of 25 to 40 per cent off current market values, involves 375 suites at seven new condominium developments in Richmond, Port Moody, New Westminster, Port Coquitlam and Surrey.

Properties will be priced between $200,000 and $800,000, said Chris Evans, Onni’s executive vice-president.

“This is not a pre-sale,” Evans said. “Every one of these units is ready to move into today … These prime units being sold at these deep discounts are going to offer tremendous opportunities for buyers.”

The liquidation, which launched yesterday, ends with a one-day sale on Mar. 7.

 
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