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Cheryl Arcibal

Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, sold out another batch of flats at its Sierra Sea project in the New Territories, the city’s largest residential project in two and a half decades.
All 218 units launched on Wednesday found buyers, according to property agents.
The developer previously sold out two rounds in the project this year: 213 flats on January 10 and 229 flats on Saturday.
Following the enthusiastic response, SHKP will hold a preview of flats in phase 2B of the project on Thursday.
The achievement marks a significant milestone, with more than a fifth of the 9,700 units available already sold, as SHKP capitalises on the city’s growing health-conscious demographic with on-site sports amenities.
The Sierra Sea project forms part of SHKP’s Sai Sha development in Shap Sze Heung, located between Sai Kung and Ma On Shan.
The successful launch of Sierra Sea Phase 2A underscored three key drivers in Hong Kong’s recovering property market, according to Midland Realty.
“First, its competitive pricing strategy, with modest subsequent increases, [which] maintains strong value perception,” said Sammy Po Siu-ming, senior director at Midland Realty.

In addition, the project’s investment prospects were “solid” with yields of more than 4 per cent, Po said.
The third factor was related to “lifestyle amenities”, such as the Go Park Sai Sha sports complex, which attracted both homeowners and investors seeking a “community-focused environment”, he said.
Go Park Sai Sha is the sports and commercial complex within the project, spanning 1.3 million sq ft and offering a diverse array of indoor and outdoor facilities for sports, entertainment, dining, and leisure activities.
As the only sports complex in Hong Kong operated by a private entity and open to the public, Go Park Sai Sha “makes excellent use of the beautiful coastline nearby, as well as the islands and country parks close in Sai Kung, perfectly blending sports, arts, hiking, water activities, retail and tourism into an all-round experience”, Adam Kwok, executive director at SHKP, said in a statement in January last year.
The group partnered with more than 10 sports associations and renowned sports academies to offer various programmes, ranging from beginner classes for the general public to training for official Hong Kong teams.
Beyond sports, the new development features over 40,000 sq ft of children’s play facilities, along with a diverse set of tenants and restaurants as well as a pet park. The project was designed by Zaha Hadid Architects.
The price lists for the latest flats on offer indicated an average discounted price of HK$12,832 per square foot. Most of the units were released at the original price, while several units had their prices adjusted in response to the tender of similar units earlier, a statement from SHKP on Sunday said.
At a maximum 15 per cent discount, the highest priced unit was about HK$9.4 million, while the cheapest could be bought for about HK$3.66 million.
The flats have layouts from one to three bedrooms, with sizes ranging from 297 sq ft to 700 sq ft.
“A [pre-Lunar New Year] mini-boom is confirmed, and it is expected that after Sierra Sea Phase 2A is completely sold out, primary market transactions in January could exceed 1,500, setting a new seven-year high,” said Louis Chan Wing-kit, vice-chairman and president at Centaline Property.


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Hong Kong homebuyers snap up all flats in latest batch at SHKP’s Sierra Sea

A view of Sun Hung Kai Properties’ residential development Sierra Sea in the New Territories. Photo:  Edmond So

Homebuyers at the sales office of Sun Hung Kai Properties’ Sierra Sea apartments, at ICC in West Kowloon, May 18, 2025. Photo: Jonathan Wong

Hong Kong developer SHKP nudges up prices on latest Sierra Sea flats on offer

A general view of Sun Hung Kai Properties’ Sierra Sea residential development. Photo: Edmond So

Sun Hung Kai Properties sold all 376 flats allocated to buyers of its Sierra Sea residential project on May 18, 2025. Photo: Jonathan Wong

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Kerry Properties plans to launch more than 3,300 flats this year, including those at Lohas Park phase 13 in Tseung Kwan O. Photo: Handout

Homes at Southside development La Montagne phase 4B will also be launched. Photo: Google Maps

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The achievement marks a significant milestone, with more than a fifth of the 9,700 units available already sold


The achievement marks a significant milestone, with more than a fifth of the 9,700 units available already sold.


Hong Kong homebuyers snap up all flats in latest batch at SHKP’s Sierra Sea

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}The achievement marks a significant milestone, with more than a fifth of the 9,700 units available already sold

The achievement marks a significant milestone, with more than a fifth of the 9,700 units available already sold