Southwest Kowloon Ruijing I Receives 26,000 Subscriptions, First Sales Saturday
On.cc · 2 SOURCESabout 2 hours ago2 MIN
Summary
China Resources Land (Overseas) and China Resources Group's Southwest Kowloon residential project Ruijing I has attracted overwhelming investor interest, recording over 26,000 subscription registrations as of noon on March 18. The project will conduct its inaugural sales round this Saturday (March 22), releasing 201 units comprising 180 priced units and 21 units via tender. With an oversubscription rate exceeding 143 times, the development underscores robust demand for new private housing in Hong Kong's Kowloon corridor.
Key Points
- China Resources Land (Overseas) and China Resources Group jointly developed Ruijing I in Southwest Kowloon
- Project received over 26,000 subscriptions as of noon on March 18, oversubscribed 143 times
- First sales round on March 22 includes 180 priced units and 21 tender units, totaling 201 units
- Unit sizes range from 304 to 657 square feet; net prices from HK$5.298 million to HK$13.236 million
- Net price per square foot ranges from HK$16,538 to HK$21,128 after maximum 16% discount
- Sales divided into Group A for bulk buyers (2-4 units) and Group B for retail investors (1-2 units)
- Lowest priced unit is a 304-sq-ft one-bedroom at HK$5.298 million; lowest psf unit is 448-sq-ft two-bedroom at HK$16,538 psf
- Directors include Shi Weixian (Managing Director), Kong Jian (Sales Director), and Cen Feifei (Deputy Sales Director)
Why It Matters
The exceptional 143-fold oversubscription for Ruijing I signals renewed confidence in Hong Kong's private residential market, particularly in the Southwest Kowloon corridor where new supply remains limited. The project's successful launch could influence pricing strategies for upcoming Kowloon developments and indicate whether pent-up housing demand is finally being released into the market.
The exceptional 143-fold oversubscription for Ruijing I signals renewed confidence in Hong Kong's private residential market, particularly in the Southwest Kowloon corridor where new supply remains limited. The project's successful launch could influence pricing strategies for upcoming Kowloon developments and indicate whether pent-up housing demand is finally being released into the market.