Investor Spends HK$14.38 Million on Two Units at Ocean Marini II in Tseung Kwan O
SingTao · 2 SOURCESabout 2 hours ago2 MIN
Summary
Sun Hung Kai Properties, Kerry Properties, K. Wah International, China Merchants Land, and MTR Corporation jointly developed the Ocean Marini II project in Lohas Park, Tseung Kwan O. A significant investor has acquired two units for over HK$14.38 million, drawn to the project's proximity to the MTR station, its near-completion status, and the mature amenities in the Tseung Kwan O district . The developer has also raised prices for 66 units by up to 1%, reflecting strong market demand for this residential development .
Key Points
- The two purchased units are located at 5A Tower 22/F Flat D and 5A Tower 19/F Flat D, both measuring 445 sq ft with a two-bedroom layout
- Transaction prices were over HK$7.2 million and over HK$7.17 million respectively, translating to HK$16,198 and HK$16,123 per sq ft
- Developer will increase prices for 66 units (comprising 2 one-bedroom and 64 two-bedroom units) by 0.5% to 1% starting next Tuesday
- Adjusted prices for the 66 units range from HK$5.8 million to HK$9.13 million, with per sq ft prices between HK$14,976 and HK$16,775
- Ocean Marini series achieved 5 transactions on the same day generating over HK$46.58 million, with total sales reaching 1,012 units and over HK$8.8 billion in proceeds
Why It Matters
This transaction underscores continued strong investor appetite for new developments in Hong Kong's New Territories, particularly in well-connected areas like Lohas Park. The developer's confidence in raising prices by up to 1% signals a bullish outlook for the Tseung Kwan O property market, where the Ocean Marini series offers a total of 2,550 units across two phases with expected completion in mid-2027 .
This transaction underscores continued strong investor appetite for new developments in Hong Kong's New Territories, particularly in well-connected areas like Lohas Park. The developer's confidence in raising prices by up to 1% signals a bullish outlook for the Tseung Kwan O property market, where the Ocean Marini series offers a total of 2,550 units across two phases with expected completion in mid-2027 .