22nd August 2026 – (Hong Kong) China Resources Land’s (1109) The Sterling I in Cheung Sha Wan completed its first‑round launch on 22nd August with all 180 price‑list flats sold the same day. The round covered 201 homes in total, and the developer said it had received 47,101 registrations, making the scheme more than 260 times oversubscribed and setting a new first‑round subscription record for a Hong Kong primary launch. Discounted prices started from about HK$5.298 million, with an average discounted price of HK$18,367 per square foot, and crowds of prospective buyers queued through the afternoon.
Agencies reported brisk demand from bulk purchasers, including one buyer who spent close to HK$40 million to acquire four units for end‑use and long‑term investment, alongside strong participation by families from Kowloon and Hong Kong Island and a notable presence of mainland professionals. The developer said attendance rates for afternoon sessions exceeded nine in ten, describing sentiment on site as “very heated”, and signalled more sales to follow in short order.
The initial release comprised two price lists covering 22 one‑bedroom, 123 two‑bedroom and 35 three‑bedroom flats ranging from 304 to 657 square feet. List prices spanned roughly HK$6.307 million to HK$15.756 million, or HK$19,688 to HK$25,151 per square foot before discounts of up to 16 per cent, while an additional 21 homes were offered by tender. Marketing was split into priority groups, allowing larger purchasers to buy up to four units, with general buyers typically limited to one or two.
The Sterling is a multi‑phase development in southwest Kowloon, with Phase I’s estimated key date currently set for late November 2028. The project’s vendor is Dragon Rider Development Limited under the China Resources group.
