business · AM730

Sun Hung Kai's Sierra Sea Phase 2C(2) Sells Out First Round, Adds 124 Units

AM730 · 2 SOURCES1 day ago2 MIN

Summary

Sun Hung Kai Properties (016) conducted the first-round sale of Sierra Sea Phase 2C(2) on October 17, with all 142 units selling out rapidly. Responding to overwhelming demand from unsuccessful bidders, the developer released Price List No. 4 that same evening, offering 124 additional units at original prices, with the cheapest unit priced at HK$5.47 million after the maximum 15% discount. The project has scheduled a second sales round for October 21, featuring 152 units.

Key Points

Sun Hung Kai Properties launched the first-round sale of Sierra Sea Phase 2C(2) on October 17, with 142 units sold out on the same day
Developer released Price List No. 4 on October 17 evening, adding 124 units comprising 84 two-bedroom and 40 three-bedroom units
Unit prices range from HK$5.47 million to HK$9.87 million after 15% discount, with unit rates from HK$12,714 to HK$15,821 per sq ft
Most affordable unit at Emerald Avenue Tower 2, 3/F, Unit J: 430 sq ft two-bedroom, sold at HK$5.47 million (HK$12,714 per sq ft)
Second round of sales scheduled for October 21 with 152 units total: 128 via price list (96 two-bedroom, 32 three-bedroom) and 24 via tender
Phase 2C(2) comprises two residential towers (Emerald Avenue Tower 1 and Tower 2) with 522 units, offering 381-924 sq ft units from two to four bedrooms

Why It Matters

The swift sell-out of Sierra Sea Phase 2C(2) demonstrates persistent strong demand for new private residential developments in the New Territories, with Sun Hung Kai's rapid addition of units indicating developers' confidence in buyers' purchasing power and willingness to absorb new supply as it enters the market .