Kai Tak project logs HK$48.17 million bulk deal
AM730 · 1 SOURCESabout 2 hours ago2 MIN
Summary
A bulk buyer purchased two completed flats at Victoria Cove in Kai Tak on August 12 for a total of HK$48.172 million, according to the developers.
The transaction involved Flat B on the 20th and 21st floors of Tower 5B, with both units offering a saleable area of 667 square feet and a three-bedroom, one-suite layout.
The average transacted price was about HK$36,111 per square foot, with the two homes individually sold for HK$24.026 million and HK$24.146 million.
An agent said the purchaser was a family buyer attracted by the project’s status as a new private residential development in the runway district and by the unobstructed Victoria Harbour views from the living-dining room and bedrooms.
Key Points
- Victoria Cove is jointly developed by China Overseas Development, Wheelock and Company, Henderson Land Development, and K. Wah International.
- The bulk deal covered Tower 5B, 20/F Flat B and 21/F Flat B, both measuring 667 square feet saleable.
- The 20/F unit sold for HK$24.026 million at about HK$36,021 per square foot, while 21/F fetched HK$24.146 million.
- The 21/F flat achieved about HK$36,201 per square foot, bringing the two-unit average to roughly HK$36,111 per square foot.
- The project is being developed in four phases with 2,060 units overall, while Phase 2B "Royal Sea Gate" provides 509 flats.
Why It Matters
The deal shows that completed harbour-view homes in Kai Tak’s runway district can still attract family buyers willing to purchase multiple units together.
It also adds a fresh pricing reference for larger three-bedroom homes at Victoria Cove, especially within the current stock of ready-to-move-in units.