New World's State Pavilia sets record with over 7,800 subscriptions

New World Development’s (0017) State Pavilia redevelopment project in North Point has received more than 7,800 subscriptions for 168 units to be sold this Saturday, setting a record for new projects this year.

The development was more than 45 times oversubscribed.

Its first round of sales on Saturday will include 44 one-bedroom units, 122 two-bedroom units, and two three-bedroom units, with usable areas spanning 321 to 726 square feet.

This batch offers an average discounted price of HK$18,941 per sq ft, with said prices ranging from HK$6.05 million to HK$20.39 million, or HK$16,888 to HK$28,088 per sq ft.

The high-end residential project has seen 17 units sold by tender since January, cashing in more than HK$590 million. One of these units was purchased by Echo Huang Shaomei, New World Development's new chief executive.

STAFF REPORTER