2025-02-21 28Hse Editor
Developers in Hong Kong are gearing up to release a slew of new residential projects, with Wheelock Properties leading the charge by announcing prices for at least 130 units at Seasons Place in Tseung Kwan O today.
Seasons Place represents phase 12A of the expansive Lohas Park and is situated on Wan Po Road. The development is set to offer a collection of 650 units, ranging from efficient studios to spacious three-bedroom apartments, with sizes varying between 330 and 665 square feet.
Co-developed by Wheelock Properties and MTR Corporation (0066), Seasons Place aims to set its first batch of units at competitive market rates, similar to other new projects within the same district, according to Ricky Wong Kwong-yiu, an executive director at Wheelock Properties.
Potential buyers will have the chance to explore the show flats this weekend, with the developer anticipating to initiate sales later in the month. The entire phase 12 development is planned to unfold in three stages, eventually providing approximately 1,985 homes to the market.
In a concurrent move, Asia Standard (0129) has released another set of 63 residences at High Park I in Yuen Long, maintaining original pricing. The most affordable unit is listed at HK$3.5 million. This latest batch boasts an average price of HK$11,888 per square foot, featuring 35 one-bedroom and 28 two-bedroom units. Notably, the least expensive apartment available is a 302-square-foot space located on the second floor.
Asia Standard is preparing for a third sales round this Saturday, which will include 147 units that range from studios to three-bedroom apartments.
Over in Kowloon Bay, the redevelopment endeavor Uptown East, a collaboration between Wong Sun Hing and New World Development (0017), has released a second price list for 168 units. The developers are also poised to commence sales for an additional 348 flats this Sunday, with 12 of these being sold via tender.
The response to Uptown East has been overwhelming, with the two published price lists for 336 flats receiving more than 4,500 checks, indicating a subscription rate that exceeds demand by over 12 times.
Furthermore, Henderson Land Development (0012) in Tai Kok Tsui is ready to reveal the first price list at Gateway - Square Mile this weekend, showcasing at least 47 flats.
As new projects launch, developers are not shying away from ramping up prices. The fifth price list for Grand Victoria II in southwest Kowloon displays an average price of HK$23,774 per square foot, marking a 50 percent increase compared to last week's rates for Belgravia Place in Cheung Sha Wan.
Wang On Properties (1243) has also seen a price surge, having sold 23 flats at The Phoenext in Wong Tai Sin at an average price of HK$20,838 per square foot, about 9 percent up from two months prior.
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