781 flats at Sai Sha's Sierra Sea to be rolled out

Staff reporter

Phase 1A (2) of Sun Hung Kai Properties's (0016) massive Sai Sha project has been named Sierra Sea with 781 flats to be launched as early as the first quarter.

The Sai Sha project spans about 8.05 million square feet and will offer nearly 10,000 homes. It is one of the largest projects undertaken by the developer.

SHKP has spent six years and billions of Hong Kong dollars to improve the infrastructure and facilities in the Shap Sze Heung in Sai Kung on all fronts, which would benefit the residents in the district.

Meanwhile, SHKP plans to launch Yoho West Parkside in Tin Shui Wai by the end of this month, with Kai Tak's Cullinan Harbour Phase II, Cullinan Sky Phase II, and Sierra Sea in Sai Sha scheduled for the first half of the year, followed by Novo Land Phase 3A in Tuen Mun and the Kwu Tung Station project in the second half.

In North Point, State Pavilia, the high-end residential project within New World Development's (0017) redevelopment of the historic State Theatre, has received over 6,800 checks for the 168 flats on offer, making them 40 times oversubscribed.

Subscriptions for the project close at 2pm today, and it may become the most subscribed new launch of 2025 in Hong Kong.

In Kai Tak, Double Coast I, a joint project by Wheelock, Henderson Land (0012) and China Overseas (0688), has sold 97 units, generating nearly HK$800 million, with 23 low-rise units almost sold out.

Meanwhile, Miami Quay I, co-developed by Wheelock, Henderson Land, New World (0017), and Empire Group, has so far sold 141 units, bringing in approximately HK$1.73 billion.

In other news, a survey by Hong Kong Property Services showed over 46 percent of respondents are considering purchasing a home in the next 12 months.

This is a drop of about 11.4 percentage points compared with the fourth quarter of last year, reflecting caution before the announcement of the budget.