Latest news with #SierraSea
Bloomberg
19-05-2025
- Business
- Bloomberg
Top Hong Kong Builder Saw Weekend Sales Frenzy After Rates Fell
Hong Kong's biggest property developer Sun Hung Kai Properties Ltd. sold another 376 flats on Sunday after receiving more than 34,000 bids, becoming one of the most sought after projects in months thanks to low interest rates. The new round of sales at Sun Hung Kai's Sierra Sea in the Ma On Shan area comes days after a quick sellout of its first batch earlier last week. The flats sold at about HK$9,645 ($1,233) to HK$13,500 per square meter.
South China Morning Post
18-05-2025
- Business
- South China Morning Post
Buyers snap up 73% of SHKP's Sierra Sea flats on sale as hot streak continues
Sun Hung Kai Properties (SHKP) sold 73 per cent of the units allocated on Sunday to buyers of its Sierra Sea residential project, capitalising on a sharp fall in interest rates and renewed optimism in the city's stock market outlook. Hong Kong's largest developer sold 277 of the 376 units on offer in phase 1B as of 3.40pm local time, according to agents involved in marketing the project, extending a hot streak since its launch last month. SHKP would continue to take orders from homebuyers up to 11pm, they added. The units on offer include 39 one-bedroom flats, 271 two-bedroom flats and 66 three-bedroom flats, measuring 302 sq ft to 807 sq ft. The price has been set between HK$3.2 million and HK$10.5 million after discounts, or HK$9,645 to HK$13,345 per square foot. The lot is worth HK$2.3 billion (US$294 million) in total. Sierra Sea, located in Shap Sze Heung – between Sai Kung and Ma On Shan in New Territories – offers a total of 9,700 units when fully completed. It is the single biggest project since Cheung Kong Property delivered 15,808 flats at Kingswood Villas in Tin Shui Wai in 1999. 'Homebuyers are optimistic about the growth potential of this project,' said Sammy Po Siu-ming, chief executive of Midland Realty's residential division. 'In addition, sentiment has improved as the trade war eased and stock prices rebounded.' Hong Kong's interbank rates tumbled last week to the lowest level in 33 months as market intervention to weaken the local currency led to a surge in liquidity in the banking system. The Hang Seng Index has risen 15 per cent this year, boosting equity wealth, as investors became more upbeat amid big gains in new listings.
South China Morning Post
07-05-2025
- Business
- South China Morning Post
Brisk Hong Kong home sales continue at Sun Hung Kai Properties' Sierra Sea
Sun Hung Kai Properties (SHKP) is likely to sell out the latest batch of flats in its massive Sierra Sea development in the New Territories on Wednesday despite a nearly 10 per cent increase in prices, according to analysts. Advertisement Hong Kong's largest developer sold 112 of the 150 flats on offer in the 9,700-unit project as of 6.30pm, according to agents, after the sale began at 3pm. The project in Shap Sze Heung, located between Sai Kung and Ma On Shan, is one of the city's largest residential developments since 1999. The first two batches sold out on April 26 and Saturday as buyers snapped up homes at prices as much as 20 per cent below second-hand properties in the area. 'The real estate market had a good start at the beginning of this month, with Sierra Sea being a hot seller,' said Louis Chan Wing-kit, CEO at Centaline Property Agency. 'Buyers' confidence in entering the market will significantly strengthen, and the first-hand transaction volume this month is bound to increase.' In April, developers sold 1,114 new units, less than half of the 2,418 flats sold in March, according to Midland Realty. Advertisement So far this month, more than 450 primary transactions had been recorded, Centaline's Chan said. The upbeat outlook for the residential market is underpinned by anticipated interest rate cuts in coming months, as well as China's stimulus policies.
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.
