Kai Tak Luxury Project Skye On Sells Two Large Units for HK$91.15M
AM730 · 2 SOURCESabout 3 hours ago2 MIN
Summary
Henderson Land Development's completed Kai Tak project Skye On recorded two additional transactions on Monday (October 12, 2026), with a single high-net-worth buyer acquiring a pair of large units for a combined HK$91.15 million. The bulk purchase comprised Units A and B on the 28th floor of Tower 6, each boasting saleable areas exceeding 1,000 square feet . According to Henderson Property Agency Director and General Manager of Sales Division 2 Kenneth Hon Ka-fai, the transaction underscores sustained demand for premium waterfront residences in the Kai Tak precinct . The project, a collaborative venture among six major developers, has now sold 318 units, translating to approximately HK$13.32 billion in cumulative proceeds when including parking spaces .
Key Points
- Units A and B on 28/F of Tower 6 sold for HK$45.33 million and HK$45.82 million respectively, translating to unit rates of approximately HK$41,779 and HK$41,579 per square foot .
- The two units have saleable areas of 1,085 and 1,102 square feet respectively, both featuring three-bedroom configurations .
- Skye On is located at 22 Shing Fung Road in the Kai Tak Development Area and comprises 566 units ranging from one- to four-bedroom layouts with sizes between 351 and 1,942 square feet .
- The development consists of seven high-rise towers and one low-rise villa block arranged along the waterfront, representing a joint venture among Henderson Land, China Overseas, Chinachem, Empire Group, New World Development, and Wheelock Living .
- Kenneth Hon noted that with 318 units sold, the project has generated approximately HK$13.32 billion in total revenue including parking space sales .
Why It Matters
The HK$91.15 million single-buyer transaction reflects persistent appetite among wealthy purchasers for large-format luxury units in Hong Kong's revitalised Kai Tak district, a former airport site now being transformed into a new growth pole for the city . The brisk sales pace at Skye On - with roughly 56% of all 566 units sold to date - signals continued confidence in the Hong Kong residential market's long-term value, particularly for waterfront assets in strategic development zones .
The HK$91.15 million single-buyer transaction reflects persistent appetite among wealthy purchasers for large-format luxury units in Hong Kong's revitalised Kai Tak district, a former airport site now being transformed into a new growth pole for the city . The brisk sales pace at Skye On - with roughly 56% of all 566 units sold to date - signals continued confidence in the Hong Kong residential market's long-term value, particularly for waterfront assets in strategic development zones .