Ruijing I Launches as New Record Breaker with 46,000 Subscriptions
HK01 · 1 SOURCESabout 1 hour ago4 MIN
Summary
China Resources' Ruijing I (叡璟I) development in Cheung Sha Wan commenced its first-round sales today (March 22), offering 180 units via price list and another 21 via tender. The project has shattered Hong Kong's new property sales records, accumulating over 46,000 subscription registrations—over-subscribed 254 times—surpassing the previous record set by SIERRA SEA in January 2026 with approximately 42,500 subscriptions.
Key Points
- Ruijing I is located at 1 Fat Tseung Street, Cheung Sha Wan, on the site of the former China Resources Warehouse
- The project is jointly developed by China Resources Group (55%) and China Resources Land (Overseas) (45%), with land premium exceeding HK$13.7 billion settled in January 2023
- First-round sales include 201 units: 180 via price list and 21 via tender, covering 1-bedroom to 3-bedroom units ranging from 304 to 657 sq ft
- Price list prices range from HK$6.307 million to HK$15.756 million, with net prices after 16% discount from HK$5.298 million to HK$13.236 million
- Net average price per sq ft stands at HK$18,367, with net price per sq ft ranging from HK$16,538 to HK$21,128
- The development spans four phases, with the first phase targeting completion by November 2028, representing a 27-month pre-sale period
Why It Matters
Ruijing I's record-breaking subscription numbers signal renewed confidence in Hong Kong's primary residential market, with the development's land premium of HK$13.7 billion marking the largest such transaction in recent years. The strong demand underscores buyers' appetite for new developments in emerging districts like Cheung Sha Wan, potentially setting a new benchmark for future project launches.
Ruijing I's record-breaking subscription numbers signal renewed confidence in Hong Kong's primary residential market, with the development's land premium of HK$13.7 billion marking the largest such transaction in recent years. The strong demand underscores buyers' appetite for new developments in emerging districts like Cheung Sha Wan, potentially setting a new benchmark for future project launches.