Sierra Sea in Sai Sha nearly 66 times oversubscribed

Sun Hung Kai Properties’ (0016) massive Sai Sha project, Sierra Sea, has been oversubscribed nearly 66 times, having received more than 21,000 checks for 318 flats.

The project plans to launch 329 flats in its first round of sales this Saturday.

Among those flats, 318 are set to be sold via price list, with discounted average prices of HK$10,877 per square foot, while 11 units will be sold by tender.

SHKP deputy managing director Victor Lui Ting expects the US Federal Reserve to speed up rate cuts and attract more purchases for investment.

STAFF REPORTER