China Resources Land's Rui Jing I Oversubscribed 25 Times, Average Price HK$17,880
China Resources Land (Overseas) has received over 2,700 registrations for Rui Jing I, the first phase of its mixed-use project in Cheung Sha Wan, within 48 hours, oversubscribing by more than 25 times. The first price list of 102 units carries an average discounted price of HK$17,880 per square foot. The developer plans to add units, at least 10% of the project, and aims to launch sales next week. A three-bedroom with ensuite model unit, based on a 676-square-foot unit, is on display.
China Resources Land (Overseas) has received more than 2,700 registrations within the first 48 hours for Rui Jing I, the first phase of its large-scale mixed-use residential and commercial project at Fat Tseung Street West in Cheung Sha Wan, Southwest Kowloon, representing an oversubscription of more than 25 times. The first price list for Rui Jing I comprises 102 units, with an average discounted price of HK$17,880 per square foot.
Kong Kin, director of sales and marketing, said the project is still collecting registrations and plans to add units shortly, with the additional units accounting for no less than 10% of the project. The developer is targeting to launch sales next week.
Rui Jing I features a three-bedroom with ensuite model unit. Shum Fei-fei, deputy director of sales and marketing, said the model is based on Unit D on the 28th floor of Tower 3A, with a saleable area of 676 square feet.
Why this event matters
The event has a measured impact on 1 industry. The strongest current signal is positive for Residential Development, with intensity 30/100 and 70% confidence over a short term horizon.
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