Il Picco Final House Sold for HK$55 Million, Completing HK$1.1 Billion Sell-Out
Thestandard · 1 SOURCES1 day ago2 MIN
Summary
HKR International (0480) and Citic Pacific have completed the sale of the final detached house at Il Picco in Discovery Bay for HK$55 million by tender on Saturday, marking the project's sell-out after all 21 detached houses were sold for a total of nearly HK$1.1 billion. The price per square foot reached HK$27,187, underscoring robust demand for Discovery Bay's low-density seaside living. HKR International's assistant general manager of sales and marketing, Raymond Chan, said the achievement demonstrates the market's strong appreciation for the rare detached houses in the area. The developer is now considering rolling out eight special terrace units at One Toscana in Discovery Bay, ranging from 1,645 to 1,683 square feet, to meet continued market demand.
Key Points
- The final detached house at Il Picco sold for HK$55 million by tender on Saturday, achieving HK$27,187 per square foot
- All 21 detached houses in the project have been sold, generating total sales of nearly HK$1.1 billion
- Raymond Chan, HKR International's assistant general manager of sales and marketing, attributed the success to market appreciation for Discovery Bay's low-density seaside lifestyle
- The developer is considering launching eight special terrace units at One Toscana, sized between 1,645 and 1,683 square feet
- Il Picco is a joint development by HKR International (stock code 0480) and Citic Pacific, located in Discovery Bay
Why It Matters
The complete sell-out of Il Picco signals strong demand for premium low-density residential properties in Hong Kong's suburban areas. As developers respond by introducing new projects like One Toscana's special terrace units, the success demonstrates the continued market appetite for exclusive waterfront living spaces in Discovery Bay.
The complete sell-out of Il Picco signals strong demand for premium low-density residential properties in Hong Kong's suburban areas. As developers respond by introducing new projects like One Toscana's special terrace units, the success demonstrates the continued market appetite for exclusive waterfront living spaces in Discovery Bay.