business · SingTao

China Resources Land's Jing Jing I Records 70 Units Sold in Second-Round Launch

SingTao · 1 SOURCESabout 1 hour ago2 MIN

Summary

China Resources Land's Jing Jing I project in Southwest Kowloon launched its second round of sales on Saturday, offering 170 units through both price list and tender channels. The development drew strong enthusiasm from prospective buyers, with the A-group (big-spender category) purchasing 43 units within just one hour, generating over HK$400 million. By 3pm, approximately 70 units had been sold, while 27 units were sold via tender on the same day, bringing cumulative tender sales to 44 units worth HK$650 million. The project achieved double record-breaking prices, with the highest unit selling for HK$18.664 million at HK$27,609 per square foot. Developer representatives indicated plans to launch additional units shortly due to high demand from unsuccessful applicants in previous rounds.

Key Points

Project location: West Kowloon waterfront, developed by China Resources Land (Overseas) with 507 units in Jing Jing I phase
Units sold: 70 units by 3pm out of 170 offered, with A-group purchasing 43 units in first hour, exceeding HK$400 million
Largest transaction: One buyer purchased 4 units for approximately HK$42.2 million, comprising one 1-bedroom, two 2-bedroom, and one 3-bedroom units
Record-breaking sale: Tower 3A, 39/F, Unit D (676 sq ft, 3-bedroom) sold for HK$18.664 million at HK$27,609 psf, setting dual price records
Buyer profile: End-users dominate at 60%; investors at 40%; mainland and overseas professionals account for 30% of buyers

Why It Matters

Jing Jing I's strong sales performance reflects sustained demand for new residential projects in West Kowloon's emerging waterfront district, with the developer responding to overwhelming buyer interest by planning additional unit releases in the near term .