Advertisement
Hong Kong property
Business

Henderson Land’s prices for The Henley property project make it the most expensive in Kai Tak

  • Henderson Land prices the first batch of 96 flats at The Henley at an average of HK$26,448 per sq ft (US$3,407), 11 per cent higher than those set by Wheelock Properties for the Grand Monaco in February
  • Some 500 new homes go on sale across Hong Kong on Saturday, the most since September

Reading Time:2 minutes
Why you can trust SCMP
2
An aerial view of new property projects coming up in Kai Tak, the site of Hong Kong’s old airport. Photo: Winson Wong
Lam Ka-sing

Developers are taking advantage of a revival in homebuying sentiment in Hong Kong, pricing new projects higher compared to recent launches.

Advertisement
Henderson Land Development revealed the prices of The Henley, its first project in Kai Tak on Thursday, pricing it 11 per cent higher than another project on the site of the city’s former airport in February.

Prices of four new projects have been announced in the last six days, with some 500 flats going on sale on Saturday, the most since September 2020.

“As there are signs of Covid-19 cases tapering off amidst the massive roll-out of the vaccination programme, we expect market sentiment to remain upbeat,” said Martin Wong, head of research and consultancy in Greater China at Knight Frank. “Developers are well prepared to launch new luxury developments to tap demand.”

Henderson, Hong Kong’s third largest developer by market value, priced the first batch of 96 flats at The Henley at an average of HK$26,448 per sq ft (US$3,407). They range from 274 sq ft to 889 sq ft, with the cheapest one-bedroom flat priced at HK$7.49 million.

Advertisement
The project is coming up on a site acquired from the financially troubled HNA Group. Henderson bought the land along with a neighbouring parcel for a combined HK$16 billion in February 2018.
Advertisement