New Kowloon 'Subscription King' Closes Early; Ruijing I Launches Saturday with Units from HK$5.3M
AM730 · 1 SOURCESabout 2 hours ago2 MIN
Summary
China Resources Land (Overseas) has announced the first-round sales of its Southwest Kowloon project Ruijing I will proceed this Saturday with 201 units, after receiving over 26,000 subscriptions representing more than 143 times oversubscription, making it the most-subscribed new development in Kowloon this year . The developer unexpectedly moved up the subscription deadline from noon to 11:59 PM last night, a decision that highlights the extraordinary market response to this flagship project .
Key Points
- China Resources Land (Overseas) Southwest Kowloon project Ruijing I will sell 201 units this Saturday, comprising 180 units via price list and 21 units via tender
- The project has accumulated over 26,000 subscriptions, achieving more than 143 times oversubscription and earning the title of Kowloon's "subscription king"
- Unit prices after the maximum 16% discount range from HK$5.298 million to HK$13.236 million, with price per usable square foot between HK$16,538 and HK$21,128
- The sales are divided into Group A (82 units, buyers may purchase 2-4 units with mandatory purchase of at least 1 three-bedroom unit) and Group B (98 units)
- The cheapest unit is a 304 sq ft one-bedroom at 3B Tower 5/F Flat C, priced at HK$5.298 million (HK$17,428 psf)
Why It Matters
The exceptional response to Ruijing I reflects persistent strong demand for new build properties in Kowloon, with the market demonstrating confidence in the quality and pricing of well-located developments . This sales event will serve as an important benchmark for upcoming new projects in the district, particularly in gauging buyer appetite for various unit sizes and price points .
The exceptional response to Ruijing I reflects persistent strong demand for new build properties in Kowloon, with the market demonstrating confidence in the quality and pricing of well-located developments . This sales event will serve as an important benchmark for upcoming new projects in the district, particularly in gauging buyer appetite for various unit sizes and price points .