The Sterling I unveils 133 units after selling all units in its first round of sales for $1.6 bln

China Resources Land (1109) launched the third price list of 133 units for its Southwest Kowloon project, The Sterling I, on Sunday after selling all 180 units in the first round of sales for nearly HK$1.6 billion on Saturday.

The new price list includes 47 one-bedroom, 61 two-bedroom, and 25 three-bedroom units that span from 304 to 672 square feet. The selling price is between HK$5.4 and HK$13.38 million after discount.

Jeffrey Sy, managing director of CR Land (Overseas), said the average discounted price per square foot for the new batch has increased by about 2 percent to HK$19,212. He said the second round of sales will start as early as this weekend.

In addition, Sy said the latest sales performance of the tender units may be announced as soon as today.

The developer said a buyer made the largest transaction by purchasing three two-bedroom units and one three-bedroom unit for approximately HK$42.7 million in the first round of sales. The selling price was between HK$5.3 million and HK$13.24 million after discount.

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