Two Projects Apply for Pre-Sale in Oct as Pending Units Hit Near Two-Year High
SingTao · 2 SOURCESabout 3 hours ago6 MIN
Summary
The Lands Department published its latest pre-sale flat data on Thursday, revealing that October saw two brand-new residential projects submit applications for pre-sale consent, together encompassing 929 units. Whampoa Group's Shatin Wai Road site, acquired in late 2024 for HK$1.021 billion, leads the new filings with 572 flats scheduled for completion by October 2029. CITIC Pacific's Kwai Chung Lai Kong Street development, purchased for HK$1.1 billion in November 2022, accounts for the remaining 357 units with an expected completion date of October 2028. Separately, the department approved four pre-sale consents last month, covering 402 units—a sharp 70% decline from September's 1,380 approved units. As of month-end, the pending pre-sale pipeline stood at 15,905 units, up approximately 3.4% from the prior month and the highest reading in nearly two years since October 2024.
Key Points
- Whampoa Group submitted an application for its Shatin Wai Road (沙田圍路) residential project at number 133, offering 572 units with anticipated completion by October 2029 .
- CITIC Pacific filed for pre-sale consent on its Kwai Chung Lai Kong Street (葵涌荔崗街) project at number 18, comprising 357 units expected to finish by October 2028 .
- Four pre-sale approvals were granted in October, encompassing 402 units total, including the 361-unit Phase 1 of 33 Clearwater Bay developed by Nine Rivers .
- The Wharf's Mount Johnston (山頂文輝道) site at number 2 Man Ying Road secured pre-sale approval across three phases for 41 units, with all slated for completion by December 2027 .
- Pending pre-sale applications reached 15,905 units as of October, representing a 3.43% month-over-month increase and the highest count since October 2024 .
Why It Matters
The sustained accumulation of pending pre-sale units to a near two-year high signals that developers are maintaining a robust pipeline despite uncertain market conditions, potentially creating options for buyers seeking new homes in the coming years . The contrasting 70% drop in both applications and approvals month-over-month also reflects timing factors in the development cycle, as large-scale projects move through regulatory stages .
The sustained accumulation of pending pre-sale units to a near two-year high signals that developers are maintaining a robust pipeline despite uncertain market conditions, potentially creating options for buyers seeking new homes in the coming years . The contrasting 70% drop in both applications and approvals month-over-month also reflects timing factors in the development cycle, as large-scale projects move through regulatory stages .