State Residence Sells Out 140 Units in First Round, Releases Final 32 with New Price List
Thestandard · 1 SOURCESabout 3 hours ago2 MIN
Summary
Sky Ace Enterprises' State Residence in North Point launched its first round of sales on Saturday, successfully selling all 140 units offered and grossing over HK$1.2 billion. The highlight of the inaugural sale included a special unit sold by tender for HK$56 million, while one buyer acquired six units in a single transaction worth more than HK$59 million. The developer subsequently released a new price list for the project's final 32 units, with an average price per square foot of HK$26,933 after discounts.
Key Points
- The remaining 32 units comprise 12 one-bedroom, 19 two-bedroom, and 1 three-bedroom apartment, ranging from 302 to 602 sq ft
- Unit prices range from HK$6.86 million to HK$16.68 million, translating to HK$22,728 to HK$32,134 per sq ft after discounts
- The first round on Saturday achieved full sellout of 140 units, with total sales exceeding HK$1.2 billion including the HK$56 million tender unit
- Sky Ace Enterprises has scheduled the second round price-list sale for next Wednesday, continuing the project's rapid sales momentum
- The State Residence project is developed by Sky Ace Enterprises with New World Development (stock code: 0017) as the project assistant
Why It Matters
The strong sales performance of State Residence reflects sustained demand in Hong Kong's primary residential market, with the project's close proximity to the MTR station in North Point attractive to both investors and end-users. The involvement of New World Development, one of Hong Kong's largest property developers, signals continued confidence in the local property sector despite broader economic uncertainties.
The strong sales performance of State Residence reflects sustained demand in Hong Kong's primary residential market, with the project's close proximity to the MTR station in North Point attractive to both investors and end-users. The involvement of New World Development, one of Hong Kong's largest property developers, signals continued confidence in the local property sector despite broader economic uncertainties.