The Sterling II Sells 96 Units for HK$1.15 Billion in First-Round Launch
Thestandard · 1 SOURCESabout 3 hours ago2 MIN
Summary
China Resources Land's (stock code: 1109) The Sterling II development in Southwest Kowloon achieved strong sales in its first round of launches, selling a total of 96 units for HK$1.15 billion. On Sunday, the developer sold 72 of the 153 price-listed units for HK$780 million, while an additional 24 units were sold via tender for HK$370 million. The most expensive unit was a 713 sq ft three-bedroom flat that fetched HK$18.48 million, representing HK$25,913 per sq ft .
Key Points
- China Resources Land sold 72 price-listed units at The Sterling II on Sunday for HK$780 million, accounting for the majority of the 96-unit total
- A bulk buyer spent over HK$41.03 million to purchase four units, comprising one three-bedroom and three two-bedroom flats
- Tender sales yielded HK$370 million from 24 units, including 22 three-bedroom units and two special terrace units
- The highest-priced unit was a 713 sq ft three-bedroom flat sold for HK$18.48 million, translating to HK$25,913 per sq ft
- The project is located in Southwest Kowloon, with China Resources Land trading under stock code 1109 on the Hong Kong Stock Exchange
Why It Matters
The strong sales performance of The Sterling II demonstrates sustained demand for new private residential developments in Hong Kong's prime urban locations, with the significant bulk purchase indicating continued investor appetite in the property market . This launch success contributes to China Resources Land's sales momentum in the Hong Kong market, potentially influencing similar project pricing strategies and buyer sentiment in the coming months .
The strong sales performance of The Sterling II demonstrates sustained demand for new private residential developments in Hong Kong's prime urban locations, with the significant bulk purchase indicating continued investor appetite in the property market . This launch success contributes to China Resources Land's sales momentum in the Hong Kong market, potentially influencing similar project pricing strategies and buyer sentiment in the coming months .