business · Thestandard

State Residence in North Point Launches 140 Units with 40-Times Oversubscription

Thestandard · 2 SOURCES1 day ago2 MIN

Summary

Sky Ace Enterprises' State Residence project in North Point is set to launch 140 units across four price lists for its first round of sales this Saturday . The development has generated massive investor interest, receiving over 5,800 checks and achieving a 40-times oversubscription rate . Discounted prices range from HK$5.95 million to HK$15.31 million, with per-square-foot prices between HK$18,848 and HK$26,741 . The project is developed by Sky Ace Enterprises and assisted by New World Development (stock code: 0017) .

Key Points

The fourth price list launched on Monday included 30 additional units, comprising 17 one-bedroom, 12 two-bedroom, and 1 three-bedroom unit
As of 3 pm Monday, the project had received 4,500 checks, which increased to over 5,800 by Tuesday
Unit sizes range from 301 to 602 square feet across the 140 units in the four price lists
Sales arrangements were uploaded on Tuesday, with the first to fourth price lists scheduled for Saturday's launch
The project is being launched to meet strong market demand, with the oversubscription rate rising from 31 times to 40 times

Why It Matters

This strong demand for State Residence reflects continued robust interest in Hong Kong's primary residential market, particularly in the North Point area . The 40-times oversubscription demonstrates significant buyer appetite despite current market conditions, and the involvement of New World Development as the assisting agent signals major developer confidence in the project's commercial viability .