China Resources Land's Changsha Bay Project Sells 201 Units in First Round, Over 260 Times Subscribed
China Resources Land (Overseas) launched the first phase of its Ruei Jing project in Cheung Sha Wan, selling 201 units in the initial round. Prices ranged from RMB 5.298 million to RMB 13.236 million after discounts. The project received 47,101 registrations, representing an oversubscription of more than 260 times. Buyer attendance reached 95%, with about 20% being large-lot investors and 30% being local branch families.
China Resources Land (Overseas) has commenced the first round of sales for Ruei Jing Phase 1, part of the large-scale integrated commercial-residential development at Fat Cheong Street West, Cheung Sha Wan, Southwest Kowloon. The launch offered 180 units via price list and 21 units by tender. The sales gallery was bustling, with the developer reporting a 95% attendance rate among prospective buyers. Of these, approximately 20% were large-lot investors, 30% were local branch families, 30% were upgraders, and the remaining 20% were mainland Chinese buyers and international professionals.
The 180 standard units sold via price list have saleable areas ranging from 304 to 657 square feet, covering Blocks 3A and 3B. The mix includes 22 one-bedroom units with open kitchens, 123 two-bedroom units with open kitchens, and 35 three-bedroom one-bathroom units. After discounts, prices ranged from RMB 5.298 million to RMB 13.236 million, with per-square-foot prices from RMB 16,538 to RMB 21,128. Group A for large-lot investors offered 82 units, while Group B offered 98 units. Within Group B, B1 buyers, comprising China Resources Group employees and their immediate relatives, were limited to purchasing one unit each.
The project saw overwhelming demand, recording 47,101 registrations, an oversubscription of more than 260 times. Group A accounted for 8,112 registrations, B1 for 220, and B2 for 38,769. The developer expressed strong confidence in the first-round sales performance.