20th August 2026 – (Hong Kong) China Resources Land’s THE STERLING I in Cheung Sha Wan has become the territory’s new first-round ballot king after the developer said it logged more than 46,000 subscription registrations, oversubscribing the 180 price-list flats by more than 254 times.
The Southwest Kowloon project at Fat Tseung Street, developed under the China Resources Land (1109) banner as THE STERLING, will open its first-round sale of 201 flats on Saturday, 22nd August, of which 180 are on the price list. The haul surpassed Sun Hung Kai Properties’ SIERRA SEA Phase 2A at Sai Sha, launched in January 2026 with about 42,330 tickets, and eclipsed CK Asset Holdings’ The Coast Line II in Yau Tong, which took more than 38,000 tickets when it opened in August 2023.
Registration was originally due to close at noon on 19th August, but on the evening of 18th August the developer brought the cut-off forward by half a day to 11.59pm that night. The early close came as demand kept building through the week, after interim tallies had already put the scheme among the strongest Kowloon launches of the year.
Saturday’s first batch will push two price lists covering 180 flats, plus further units by tender to make up 201. Layouts run from one to three bedrooms: 22 one-bedroom, 123 two-bedroom and 35 three-bedroom flats. Saleable areas range from 304 to 657 square feet, with list prices from HK$6.307 million to HK$15.756 million and list prices per square foot from HK$19,688 to HK$25,151. After a discount of up to 16 per cent, net prices run from HK$5.298 million to HK$13.236 million, or HK$16,538 to HK$21,128 per square foot net, for an average net price of HK$18,367 per square foot and expected proceeds of about HK$1.53 billion.
The lowest entry unit is Flat C on the fifth floor of Tower 3B, a 304-square-foot one-bedroom flat priced at HK$5.298 million net, or HK$17,428 per square foot after the maximum discount. THE STERLING is planned in four phases with a pre-sale period of about 27 months. Phase one has a key date of 25th November 2028, with phases two to four dated 25th December 2028, 25th January 2029 and 25th February 2029.
The site was formerly a warehouse at 1 Fat Tseung Street, Cheung Sha Wan. It is being developed by a joint venture of China Resources Group and its subsidiary China Resources Land (Overseas), holding 55 per cent and 45 per cent respectively. Land premium of more than HK$13.7 billion was settled in late January 2023, the largest such payment in recent years after Sun Hung Kai’s Sai Kung Sha Kok Mei site of HK$15.9 billion in November 2017, and equated to about HK$8,700 per square foot of floor area.
