CK Asset's 21 Borrett Road Sells 7 Units for Nearly HK$1.5 Billion in a Month, Penthouse Sets Record Price

Hong Kong's Mid-Levels Central project 21 Borrett Road recently sold seven units within a single month, generating net proceeds of nearly HK$1.5 billion, with an average price per unit exceeding HK$200 million. A top-floor penthouse with a rooftop terrace in phase II, Yingtian, was sold for HK$380 million, at a price per square foot of HK$126,000, setting a new record for the highest per-square-foot price in Hong Kong's primary residential market in 2026. The project launched 16 large units for tender in early June, selling five units in a short period and netting over HK$1.2 billion, while also driving the sale of two units from phase I, bringing total net proceeds to nearly HK$1.5 billion.

In 2025, Hong Kong's cross-border wealth management assets grew 10.7% year-on-year to US$2.95 trillion, surpassing Switzerland for the first time to become the world's largest cross-border wealth management center. Hong Kong's rule of law, free capital flow, and tax regime have attracted global high-net-worth individuals and family capital to allocate core assets.

Mainland Chinese clients accounted for over 50% of buyers, covering industries such as technology, finance, mining, and electronics. Multiple-unit purchases have become a trend, with some family buyers acquiring multiple adjacent or different-floor units in a single transaction to meet the needs of family cohabitation and privacy. The number of family offices in Hong Kong rose from about 2,700 in 2023 to nearly 3,400 in 2025, a 25% increase over two years.

Since CK Asset acquired the Borrett Road site through a government auction in 2011, no new residential land has been granted in Hong Kong's Mid-Levels Central. Phase II, Yingtian, offers a total of 66 stratified residential units. Of these, 60 standard stratified units have saleable areas ranging from 1,875 to 2,193 square feet. There are also two top-floor penthouses with rooftop terraces and four units with front courtyard features. The project is equipped with a residents-only clubhouse and an outdoor heated swimming pool, among other facilities.