Sun Hung Kai Properties (SHKP), one of Hong Kong’s largest developers, has sold out the latest batch of flats at its Sierra Sea project in the New Territories, where units were offered at discounted prices ahead of a possible US Federal Reserve interest-rate increase by year-end.
By 5.40pm on Wednesday, SHKP had found buyers for all 128 flats offered at listed prices in Phase 2C(2) of the development in Shap Sze Heung, between Sai Kung and Ma On Shan, according to agents. Sales began at 2pm.
“Developers will continue to launch new flats in an orderly and steady cadence in the coming weeks,” said Derek Chan Hoi-chiu, head of research at Ricacorp Properties.
“Strong sales results in mid-October and recent sales brochure releases confirm that developers are capitalising on current buyer demand to roll out their pipeline systematically.”