China Resources Land's Rui Jing I Second Round Draws 418x Oversubscription
China Resources Land (Oversea) launched 170 units in the second round of sales at its Rui Jing I project in Cheung Sha Wan, receiving over 55,800 registrations, representing an oversubscription of 418 times. The first round sold all 180 standard units, raising nearly HK$1.6 billion, with tenders adding HK$260 million.
China Resources Land (Oversea) has launched the second round of sales for Rui Jing I, the first phase of the large-scale mixed commercial and residential project Rui Jing at Fat Tseung Street West, Cheung Sha Wan. A total of 170 units were offered, with 133 standard units sold via price list and 37 units via tender. The project closed registration for purchase intentions at 1 p. m. on Thursday, receiving over 55,800 verified registrations, representing an oversubscription of more than 418 times. Among the registrations, Group A recorded 9,696, Group B1 recorded 325, and Group B2 recorded 45,789.
Today's buyers were primarily end-users, with large-ticket purchasers accounting for about 20%. Local branch families and upgraders together made up approximately half of the buyers, with branch families at about 30% and upgraders at about 20%. Mainland Chinese buyers, international professionals, and returning overseas Chinese accounted for about 30%.
The first round, which offered 180 standard units via price list, sold out on the same day, raising nearly HK$1.6 billion. Tenders recorded 17 transactions, raising over HK$260 million, with one three-bedroom standard unit achieving a transaction price of HK$25,738 per square foot.