Hung Hom New Development Sells Out 138 Units in Under 6 Hours, Developer Launches 138 More
SingTao · 1 SOURCESabout 1 hour ago5 MIN
Summary
Sino Land, China Merchants Land (招商局置地), and the Urban Renewal Authority's joint development, The Holborn (瑅海) in Hung Hom, achieved a remarkable sellout on Saturday (November 7, 2026). The project's first batch of 138 units was fully purchased in under six hours, generating over HK$1 billion in sales. Large-scale buyers dominated the transactions, with the biggest single purchase approaching HK$55 million for six units. In response to strong demand, the developer immediately launched an additional 138 units with a modest price increase.
Key Points
- The Holborn's 138 units were completely sold within six hours on Saturday, with the last queue number reaching 89, indicating substantial pent-up demand
- During the priority bulk-buyer session, 30 transactions were recorded, including five groups each purchasing six units, with the largest single purchase valued at nearly HK$55 million
- The highest-priced unit sold was Tower 2, 19/F, Unit B1 (456 sq ft) for HK$10.0222 million, translating to approximately HK$21,979 per square foot
- Eleven three-bedroom units were sold via tender, raising nearly HK$200 million, with the premium unit at Tower 1, 20/F, Unit A1 (690 sq ft) fetching HK$19.4063 million or HK$28,125 psf
- The developer launched 138 additional units that evening with a net average price of HK$20,818 psf, with a 1-2% increase for selected units reflecting sea views and floor factors
- Sino Land Executive Director Tin Siu-yuen (田兆源) and China Merchants Land Executive Director and General Manager Wei Shao-fan (韋少凡) were personally present to oversee sales
Why It Matters
The sellout performance signals robust demand for new private residential developments in Hung Hom despite broader market uncertainties. With buyer turnout exceeding 80% among registered clients and rental yields projected above 4%, the development demonstrates continued investor confidence in Hong Kong's mid-market property segment, potentially influencing pricing strategies for upcoming launches in the Kowloon district .
The sellout performance signals robust demand for new private residential developments in Hung Hom despite broader market uncertainties. With buyer turnout exceeding 80% among registered clients and rental yields projected above 4%, the development demonstrates continued investor confidence in Hong Kong's mid-market property segment, potentially influencing pricing strategies for upcoming launches in the Kowloon district .