Park Silicon Phase Two Sells Eight Units for HK$78.43 Million in Kwu Tung
Thestandard · 1 SOURCESabout 2 hours ago1 MIN
Summary
Wheelock Properties sold eight units at its Park Silicon Phase Two Palo Springs project in Kwu Tung North on Sunday, generating HK$78.43 million. The sale comprised four three-bedroom units and four special units sold via tender, with the highest-priced unit reaching HK$23,604 per square foot. Ricky Wong Kwong-yiu, vice chairman and managing director of Wheelock Properties, attributed the strong performance to market recognition of the project's quality and its status as the first residential development in the area.
Key Points
- Wheelock Properties' Park Silicon Phase Two Palo Springs sold eight units via tender for a total of HK$78.43 million
- The eight units comprised four three-bedroom flats and four special units sold through the tender process
- Flat A on the 28th floor of Tower 2B, the highest-priced three-bedroom unit, sold for HK$11.21 million or HK$19,458 per square foot
- Flat A on the third floor of Tower 2B, the highest-priced special unit, achieved HK$12.57 million
- Unit C on the 3rd floor of Block 2A commanded the highest price per square foot at HK$23,604, spanning 442 square feet
Why It Matters
As the first residential project in Kwu Tung North, Park Silicon Phase Two sets a benchmark for the government's Northern Metropolis development initiative, with the strong sales indicating investor confidence in the region's long-term growth potential .
As the first residential project in Kwu Tung North, Park Silicon Phase Two sets a benchmark for the government's Northern Metropolis development initiative, with the strong sales indicating investor confidence in the region's long-term growth potential .