New Development | Haikui Bay I auctions six units, cashing out 76 million yuan

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The Tseung Kwan O Sun Hung Kai Properties Phase 13B, developed by Sino Land (00083), has today sold 6 units at auction, involving over HK$76 million.

The highest transaction price and price per square foot today was for Unit B on the 25th floor of Block 1A at Ocean Pride, with a usable area of 855 square feet, selling for over HK$18.63 million, at a price per square foot of HK$21,796.

Sino Land’s Executive Director, Tien Siu-Yuen, stated that the project is located in an “international elite community,” gathering many professionals such as specialists and teachers. Many investors are expected to see considerable rental returns, thus looking to acquire for long-term investment, which has also attracted numerous large buyers into the market.

Since the auction started last Friday, Ocean Pride has quickly sold 98 units, cashing out nearly HK$1.4 billion.

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