Hong Kong Property Market Sees Strong Sales Amid Global Concerns

As global attention focuses on the potential escalation of conflict in Iran, Hong Kong's property market is experiencing intense competition. According to Ming Pao, New World Development's (0017) new residential project in Jordan, with a pre-sale period of approximately 25 months, launched all 64 units for sale yesterday. This marks the first new project sale of the Year of the Horse. Within about five hours of the launch, all units were sold out. The developer reserved 12 units for individual buyers, indicating that 52 units, or over 80% of the total, were purchased by bulk buyers. The largest buyer spent over HKD 37 million to acquire two floors, totaling six one-bedroom units. Additionally, MTR Corporation (0066) and Wheelock Properties' joint venture at Wong Chuk Hang Station, known as DEEP WATER SOUTH Phase 6B, with a pre-sale period of about 20 months, sold eight units through tender for a total of HKD 387 million. The highest price per square foot exceeded HKD 47,000.