Sky Castle Phase 2 Sells 4 Units via Tender for Over HK$66M in Kai Tak
SingTao · 2 SOURCESabout 1 hour ago5 MIN
Summary
Sun Hung Kai Properties' completed Sky Castle Phase 2 (天璽·天第2期) in Kai Tak achieved four tender sales on August 25, generating more than HK$66 million in a single day . The flagship unit was Tower 2 Elite Zone 27/F Flat A5, a 545-sq-ft two-bedroom with storage, which sold for HK$21.16 million at HK$38,826 per sq ft—the highest price per sq ft among all four transactions . The project has now sold 20 units since August alone, demonstrating sustained buyer interest in the Kai Tak luxury segment .
Key Points
- Tower 2 Elite Zone 27/F Flat A5 (545 sq ft) fetched HK$21.16 million at HK$38,826/sq ft—the priciest deal among the four units sold on August 25 .
- Tower 2 Elite Zone 16/F Flat A2 (446 sq ft) sold for HK$15.8 million at HK$35,426/sq ft, while Tower 1 Elite Zone 9/F Flat A2 (450 sq ft) went for over HK$15.44 million at HK$34,318/sq ft .
- Tower 2 Elite Zone 17/F Flat B1 (478 sq ft) was the most affordable among the four, changing hands for HK$13.624 million at HK$28,502/sq ft .
- Sky Castle Phase 2 comprises two 44-storey towers with 584 units spanning 296 to 4,306 sq ft; one- and two-bedroom flats dominate at 399 units (68% of inventory) .
- Kai Hoi Bay Phase 2, developed by K. Wah, Wheelock, and China Overseas, also recorded two 2-bedroom sales on the same day—6/F and 18/F units at Tower 1C at HK$21,830 and HK$23,651/sq ft respectively, with both buyers being local end-users .
- Chai Wan Oze (海德園), jointly developed by Swire Properties and CME, sold four more units ranging from HK$8.91 million to HK$10.54 million, bringing cumulative sales to 393 units (92% of available stock) and generating over HK$40 million .
Why It Matters
The strong single-day performance of Sky Castle Phase 2 underscores persistent demand for premium completed units in the Kai Tak Development Area, where infrastructure and transit links continue to mature . This trend benefits Sun Hung Kai Properties' revenue recognition while signaling to the market that well-positioned luxury developments can still achieve robust sales velocity despite broader economic headwinds .
The strong single-day performance of Sky Castle Phase 2 underscores persistent demand for premium completed units in the Kai Tak Development Area, where infrastructure and transit links continue to mature . This trend benefits Sun Hung Kai Properties' revenue recognition while signaling to the market that well-positioned luxury developments can still achieve robust sales velocity despite broader economic headwinds .