China Resources Land's Regency I Sells 361 Units in 10 Days, Revenue Exceeds HK$3.47 Billion
AM730 · 2 SOURCESabout 2 hours ago2 MIN
Summary
China Resources Land (Overseas) Development's new project Regency I in Southwest Kowloon achieved record-breaking sales, moving 361 units within just 10 days for total revenue exceeding HK$3.47 billion. The latest tender sale on March 31 involved a 676 sq ft three-bedroom unit priced at HK$17.1 million. The project comprises 507 units across two towers, with handovers targeted for late 2028.
Key Points
- Developer China Resources Land (Overseas) Development launched the project on March 20, achieving the status of the region's top-performing new development
- The second round of sales on March 29 saw all price-listed units sold out on the same day, with tender units also performing strongly
- The March 31 tender involved Unit D on 38/F of Tower 3A, a 676 sq ft three-bedroom (one ensuite, closed kitchen), sold for HK$17,102,800 at HK$25,300 per sq ft
- In just 10 days since launch, 361 units were sold, generating over HK$3.47 billion in revenue
- The project consists of two towers (3A and 3B) offering 507 units ranging from 267 to 680 sq ft, with one- and two-bedroom units comprising over 60 percent of inventory
Why It Matters
The project's exceptional sales velocity and strong pricing power signal robust demand for new private residential units in the Southwest Kowloon corridor, potentially influencing future land valuations and development strategies in the area as the anticipated completion date of November 2028 approaches .
The project's exceptional sales velocity and strong pricing power signal robust demand for new private residential units in the Southwest Kowloon corridor, potentially influencing future land valuations and development strategies in the area as the anticipated completion date of November 2028 approaches .