Investor Spends HK$14.38M on Two Units at LOHAS Park Project The Pavilia Bay II
AM730 · 2 SOURCESabout 2 hours ago1 MIN
Summary
The Pavilia Bay II, the final phase of the LOHAS Park development in Tseung Kwan O, achieved brisk sales on May 13, with three units changing hands and over HK$21.24 million in proceeds on a single day . A single investor acquired two units for more than HK$14.38 million, according to market sources . The developer consortium includes Sun Hung Kai Properties (083), K. Wah International (173), Kerry Properties (683), China Merchants Land (978), and MTR Corporation (066) .
Key Points
- Two units at Tower 5A, Units D on floors 19 and 22, each with a saleable area of 445 square feet
- Floor 22 Unit D sold for over HK$7.20 million, and Floor 19 Unit D fetched over HK$7.17 million
- Respective prices per square foot stood at approximately HK$16,198 and HK$16,123
- The buyer was reportedly drawn to the MTR station-top location and the project's status as a near-term completion presale
- Cumulative sales for the Pavilia Bay series reached 1,007 units with total proceeds exceeding HK$8.7 billion
Why It Matters
The strong investor appetite for units at The Pavilia Bay II signals continued confidence in Tseung Kwan O's residential market, where MTR-connected developments command premium valuations amid robust demand for well-connected new homes in Hong Kong's eastern New Territories .
The strong investor appetite for units at The Pavilia Bay II signals continued confidence in Tseung Kwan O's residential market, where MTR-connected developments command premium valuations amid robust demand for well-connected new homes in Hong Kong's eastern New Territories .