Sun Hung Kai Sells All 204 Cullinan Sky Apartments in Kai Tak Amid Rate Cut

Oct 6, 2024, 09:44 AM

Sun Hung Kai, Hong Kong's biggest property developer, sold over 200 apartments in one day after offering the units at a steep discount to boost sales. The apartments are part of the Cullinan Sky project in Kai Tak. All 204 homes from the first batch were sold yesterday, according to a representative of Sun Hung Kai. The successful sale comes amid a rate cut and indicates that Hong Kong property prices may have 'bottomed out' and will 'rebound slowly', according to industry experts. This reflects the developer's strategy to address Hong Kong's housing challenges.