Second batch of Swire Properties' Shanghai luxury project all but sold out in a single day

Swire Properties' (1972) Lujiazui Taikoo Yuan Residences sold 55 out of 57 units in its second batch the day it launched, the developer said.

The company's inaugural residential project in the mainland has raked in 5.76 billion yuan (HK$6.19 billion) so far from these two launches.

The second batch includes units between 285 and 381 square meters in size, as well as a penthouse spanning 731 sq m, with an average price of 171,800 yuan per sq m.

The flats sold out account for 97 percent of those launched, Swire Properties said.

Adrian To Wai-yip, director of Swire's residential arm, said Shanghai's luxury residential market has shown resilience amid global economic uncertainties.

The development’s first batch was launched last December and sold 49 out of 50 as of March 7, according to the developer.

Lujiazui Taikoo Yuan Residences comprises 11 towers offering 378 three- and four-bedroom apartments.

STAFF REPORTER