Hong Kong’s SHKP rolls out 350 Sierra Sea flats after sell-outs in world’s priciest market

Sun Hung Kai Properties (SHKP), Hong Kong’s largest developer by market capitalisation, puts another 350 units on sale in its Sierra Sea project after four rounds of sold-out flats in January, reflecting returning buyer appetite in the world’s most expensive property market.The batch at phase 2B included 244 two-bedroom and 106 three-bedroom units, with discounted prices ranging from HK$4.6 million (US$590,000) to HK$9.74 million, according to sales documents released on Wednesday. The average discounted price comes to HK$12,469 per square foot.The offering follows four consecutive sell-outs in January. Phase 2A of the Sai Sha development sold 213 flats on January 10, 229 units on January 17, and 218 homes on January 21. Phase 2B sales opened on January 28 with all 165 price-list units snapped up in about four hours.More than a fifth of the 9,700 units available have already been sold. Sierra Sea, located at Shap Sze Heung, between Sai Kung and Ma On Shan, is Hong Kong’s largest housing project since 1999. The development featured three themed clubhouses offering 168 amenities, including water play areas, indoor and outdoor sports, cycling trails and themed cabins, according to Centaline Property.The Sierra Sea project recorded four rounds of sold-out flats in January. Photo: Jonathan WongThe strong sales reflect a property market regaining momentum after multi-year downturns. Lived-in home prices rose 3.25 per cent in 2025, while rents climbed to a record high in December, according to Rating and Valuation Department data.