Latest news with #SHKP
South China Morning Post
05-05-2025
- Business
- South China Morning Post
Hong Kong developer SHKP rushes out more Sierra Sea flats amid surge of mainland buyers
Sun Hung Kai Properties (SHKP) is launching another batch of flats in its Sierra Sea project in the New Territories following two consecutive sold-out weekends in one of Hong Kong's largest residential projects in more than a quarter century. Advertisement On Wednesday, Hong Kong's largest developer will offer 150 flats in the 9,700-unit project in Shap Sze Heung, located between Sai Kung and Ma On Shan. The flats range in size from 301 sq ft to 702 sq ft. The units are priced between HK$12,675 (US$1,635) and HK$15,486 per square foot. Of the 150 units, 128 will be sold via a regular sale with an average price after discounts of HK$11,897 per square foot – about 9.4 per cent higher than the first two batches of flats launched on April 26 and Saturday . The other 22 flats will be sold via tender. The sale comes after Saturday's sale drew a surge in mainland Chinese buyers, whose numbers increased between 10 and 40 per cent compared with the previous weekend's sale as China's five-day Labour Day holiday got under way, according to Louis Chan Wing-kit, CEO of Centaline Property Agency. The first two batches of units at the project hit the market at an average selling price last seen in the area in 2013. The average discounted price of HK$10,877 per square foot was also 20 per cent lower than prices for nearby second-hand flats. Advertisement
South China Morning Post
03-05-2025
- Business
- South China Morning Post
Homebuyers flock to SHKP's new batch of Sierra Sea flats on sale as demand remains strong
Demand for flats at Sierra Sea , a mega residential project of Sun Hung Kai Properties (SHKP) in the New Territories, remained strong for the second consecutive weekend, as homebuyers took advantage of discounted prices that are about 20 per cent lower than those of similar properties in the district. Advertisement As of 12pm on Saturday, Hong Kong's largest property developer already sold 123 of the second batch of 288 new flats put up for sale at Sierra Sea, according to property agents. That comes a week after homebuyers snapped up all 318 of the first batch of flats made available by SHKP. In total, the developer has sold more than 400 Sierra Sea flats that it has put for sale since April 26. 'The project is so popular primarily because of its low price, which is 20 per cent cheaper than other properties in the same district,' said Sammy Po Siu-ming, chief executive of Midland Realty's residential division. 'Everyone believes the project has great potential for appreciation.' The flats on sale this weekend – ranging in size from 301 sq ft to 702 sq ft – include 39 one-bedroom, 170 two-bedroom and 79 three-bedroom units. Prices for these units cost from HK$3.27 million to HK$8.99 million (US$422,000 to US$1.16 million), while the price per square foot is between HK$9,992 and HK$13,533. A general view of Sun Hung Kai Properties' new Sierra Sea residential development at Sai Sha in the New Territories. Photo: Edmond So About 20 to 40 per cent of the prospective homebuyers of Sierra Sea flats are from mainland China, according to property agents.
South China Morning Post
26-04-2025
- Business
- South China Morning Post
Investors dominate sales of SHKP's Sierra Sea in New Territories as sentiment improves
Buyers flocked to a mega residential project from Sun Hung Kai Properties (SHKP) in Hong Kong's New Territories on Saturday, as attractive pricing boosted purchasing sentiment from investors and agents forecast improved sales in the city despite economic jitters. Advertisement A total of 231 units out of 318 on sale at the Sierra Sea residential development were sold as of 4.00pm, according to property agents, who expect all units to be gone before the end of the sale which will end at 11.00pm. The project attracted a significant number of investors, said Louis Chan Wing-kit, CEO of Centaline Property Agency. He noted that one of his clients bought seven units, including three 3-bedrooms, three 2-bedrooms and one 1-bedroom, for a total of more than HK$34 million (US$4.38 million). Veteran investor Ken Lui Yu-kin said he bought two units for a total of about HK$10 million, paying in cash as the discounted pricing for the first batch was attractive and developers would increase the price in the upcoming sales. Buyers were enticed by attractive pricing, which was about 20 per cent cheaper than second-hand properties in the district. Photo: Jonathan Wong Liu said he expected to lease one of his units for a rental return of about 4 per cent, and intended to sell the other for 10 per cent higher than the purchase price. Advertisement
South China Morning Post
22-04-2025
- Business
- South China Morning Post
21,000 Hongkongers vie for 329 new homes at 12-year-low prices at SHKP's Sierra Sea
Sun Hung Kai Properties (SHKP) , Hong Kong's largest property developer, received more than 21,000 cheques for 329 units at its massive Sierra Sea residential project in the New Territories, indicating that attractive pricing can drive home sales in the city despite economic jitters, according to agents. Advertisement The first round of sales on Saturday will feature 318 units available via regular sale at an average discounted price of about HK$10,877 (US$1,402) per square foot, according to SHKP. The number of potential buyers outnumbers the units by more than 65 times, SHKP added. The other 11 units will be available via tender. The pricing is about 20 per cent cheaper than second-hand properties in the district, according to Midland Realty. Sierra Sea is part of the 9,700-unit Sai Sha development in Shap Sze Heung, which is located between Sai Kung and Ma On Shan. 'Sierra Sea is a large-scale development project, so the developer has launched the first batch at a relatively favourable price to attract buyers' attention,' said Derek Chan, head of research at Ricacorp Properties. Advertisement The attractive pricing comes at a time of heightened uncertainty brought about by a worsening trade war between the US and China, Chan said.
The Standard
21-04-2025
- Business
- The Standard
SHKP ups prices for Sierra Sea
Sun Hung Kai Properties (0016) unveiled the third price list yesterday for its massive Sai Sha project, Sierra Sea, with discounted prices averaging HK$11,498 per square foot, 5.6 percent costlier than the second one. The third batch includes 118 units ranging from 301 to 700 sq ft, including 15 one-bedroom, 67 two-bedroom, and 36 three-bedroom flats. Discounted prices range from HK$3.15 million to HK$8.38 million, or HK$10,237 to HK$12,702 per sq ft. Andy Chan Hon-lun, general manager at SHKP's real estate agency, said the batch mainly comprises mid- to high-floor units, including some with sea views. Chan added that the pricing is in line with previous releases, and the developer may roll out more units depending on market response. The developer is expected to close registrations on Thursday and launch the first round of sales on Saturday. Meanwhile, more than 80 transactions were recorded in the primary market over the Easter holidays. Among them, Asia Standard International's (0129) High Park in Yuen Long saw 18 deals over the four-day period, bringing the total number of units sold at the project to 1,001, with only 24 flats remaining on the market. In the secondary market, the 10 major housing estates tracked by Centaline Property recorded eight deals over the weekend, up from six a week earlier. Around 14 were logged over the holiday, slightly down from 15 in the same period last year.
