Sun Hung Kai's The Hemisphere Records Second Tender Deal This Week
On.cc · 2 SOURCESabout 1 hour ago2 MIN
Summary
Sun Hung Kai Properties (00016) has recorded another successful tender sale at its Kai Tak The Hemisphere Phase 1 development, marking the second transaction within the same week. The property, a four-bedroom dual-suite unit on the 11th floor of Tower 7, was sold for HK$51.28 million, reflecting the continued demand for premium residential units in the Kai Tak district. The saleable area of 1,150 sq ft translates to approximately HK$44,591 per sq ft, positioning the unit within the high-end segment of the new residential market.
Key Points
- Developer Sun Hung Kai Properties sold the unit via tender on Thursday (20th), with the deal recorded as the second transaction that week
- The unit, Tower 7, 11/F, Unit A, features a four-bedroom dual-suite layout across 1,150 sq ft of saleable area
- Transaction price reached HK$51.28 million, equivalent to approximately HK$44,591 per sq ft
- Since launching as a completed property, The Hemisphere has sold 45 units, generating over HK$2.95 billion in cumulative revenue
- The development comprises 439 units total, with approximately 90% offering sea views, including high-rise and low-rise towers
Why It Matters
The sustained sales momentum at The Hemisphere underscores the resilience of Hong Kong's luxury residential market, particularly in the newly developed Kai Tak precinct. With the project moving closer to sellout status, comparable developments in the area may see increased buyer interest and potential price adjustments as supply tightens .
The sustained sales momentum at The Hemisphere underscores the resilience of Hong Kong's luxury residential market, particularly in the newly developed Kai Tak precinct. With the project moving closer to sellout status, comparable developments in the area may see increased buyer interest and potential price adjustments as supply tightens .