Sun Hung Kai Sells Kai Tak Penthouse for HK$119M via Tender
AM730 · 2 SOURCESabout 2 hours ago1 MIN
Summary
Sun Hung Kai Properties sold a luxury unit at its The Hemispheres Phase 1 development in Kai Tak's runway area on September 8. The 4-bedroom, 4-ensuite unit on the 5th floor of Tower 1 fetched over HK$119 million via tender, translating to approximately HK$56,885 per square foot. The developer reported strong sales momentum, with 46 units sold since the project began selling as completed inventory, netting more than HK$3.07 billion.
Key Points
- The unit sold was Tower 1, 5th Floor, Unit A, with a usable area of 2,093 square feet
- Sale price exceeded HK$119 million at approximately HK$56,885 per square foot
- Sun Hung Kai Properties (stock code: 00016) is the developer behind the project
- Phase 1 comprises 5 high-rise towers and 2 low-rise villas with 256 units in total
- Since launching as completed units, the project has sold 46 units generating over HK$3.07 billion
Why It Matters
The near-HK$57,000-per-sq-ft price point underscores continued demand for premium waterfront properties in Hong Kong's new Kai Tak development zone. Strong sales of over HK$3 billion demonstrate buyer confidence in the completed-home market despite broader economic headwinds. This transaction could set a pricing benchmark for upcoming luxury launches in the area.
The near-HK$57,000-per-sq-ft price point underscores continued demand for premium waterfront properties in Hong Kong's new Kai Tak development zone. Strong sales of over HK$3 billion demonstrate buyer confidence in the completed-home market despite broader economic headwinds. This transaction could set a pricing benchmark for upcoming luxury launches in the area.