New LOHAS Park Phase Launches at HK$5.89M Entry; Ho Man Tin Project Sets Record
On.cc · 1 SOURCESabout 1 hour ago2 MIN
Summary
The Hong Kong property market demonstrated robust activity on June 24, with two headline-making transactions capturing market attention. Sino Land and Kerry Properties' Ocean Marine Bay II at LOHAS Park in Tseung Kwan O launched a fresh price list featuring 129 units, while Whampoa Group's One·Heaven at Ho Man Tin Station sold a premium three-bedroom unit setting a new record for its category. The day saw coordinated sales across numerous new development projects citywide.
Key Points
- Ocean Marine Bay II released price list 2 on June 24, offering 129 units with net prices starting from HK$5.8913 million
- The developer scheduled 283 units for sale on June 28, comprising 148 units via price list and 135 units through tender
- The project's most expensive unit, 5B 48F B with 783 square feet, sold for over HK$15.37 million at approximately HK$19,631 per square foot
- Ocean Marine Bay series achieved 90 units sold in June, bringing total sales to 1,071 units and cumulative proceeds exceeding HK$9.3 billion
- One·Heaven's 2B 27F A unit spanning 957 square feet with three-bedroom suite and storage configuration fetched over HK$31.15 million, translating to HK$32,550 per square foot, establishing a new benchmark for West Kowloon-facing three-bedroom units in the development
Why It Matters
The LOHAS Park development continues to demonstrate its status as one of Hong Kong's most successful railway-adjacent projects, with cumulative sales exceeding HK$9.3 billion. Combined with the record-breaking performance at One·Heaven, these transactions underscore sustained demand for quality new residential units in prime locations, suggesting developers remain confident in pricing power despite broader market uncertainties. The high volume of coordinated sales across multiple projects on a single day reflects active market participation from both developers and buyers.
The LOHAS Park development continues to demonstrate its status as one of Hong Kong's most successful railway-adjacent projects, with cumulative sales exceeding HK$9.3 billion. Combined with the record-breaking performance at One·Heaven, these transactions underscore sustained demand for quality new residential units in prime locations, suggesting developers remain confident in pricing power despite broader market uncertainties. The high volume of coordinated sales across multiple projects on a single day reflects active market participation from both developers and buyers.