33 Clear Water Bay First Tender Yields 8 Unit Sales Worth Over HK$117 Million
AM730 · 2 SOURCESabout 2 hours ago2 MIN
Summary
Kowloon Development Company (034) launched the first batch of 73 units at its 33 Clear Water Bay Phase 1 project in Ngau Chi Wan for tender sale on October 15. The inaugural tender exercise achieved immediate success, with all 8 units offered on the first day sold for a combined total exceeding HK$117 million, demonstrating strong buyer appetite for well-positioned residential developments in Hong Kong's eastern Kowloon corridor.
Key Points
- Kowloon Development's 33 Clear Water Bay Phase 1 released 73 units via tender on October 15; 8 units sold on day one, generating over HK$117 million in proceeds
- The highest price-per-sq-ft unit was Tower 2, 20th Floor, Unit A: 1,039 sq ft with four-bedroom, en-suite, plus study and bathroom layout; sold for HK$28.631 million at $27,556 per sq ft
- Seven additional tender units, all 543 sq ft two-bedroom with studio configuration, sold at prices ranging from HK$12.117 million to HK$13.899 million, equating to $22,315 to $25,597 per sq ft
- The project comprises 5 residential towers offering over 2,000 units in total; Phase 1 provides 361 units ranging from 470 to 2,361 sq ft with anticipated completion on December 11, 2027
- The developer highlighted the project's integrated advantages including transport connectivity, commercial facilities, and lifestyle amenities as key attractions for upgraders and investors
Why It Matters
The strong debut performance of 33 Clear Water Bay reflects continued confidence in Hong Kong's residential market, particularly for large-scale integrated developments in emerging residential zones. With the developer reporting multiple outstanding bids under review, the project is poised to set pricing benchmarks for future developments in the Ngau Chi Wan and Clear Water Bay corridor .
The strong debut performance of 33 Clear Water Bay reflects continued confidence in Hong Kong's residential market, particularly for large-scale integrated developments in emerging residential zones. With the developer reporting multiple outstanding bids under review, the project is poised to set pricing benchmarks for future developments in the Ngau Chi Wan and Clear Water Bay corridor .