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"LeoSquare. Gateway" Leads the New Property Boom in West Kowloon
Mar 21, 2024
Hong Kong
By   Internet
  • City News
  • West Kowloon Property
  • Hong Kong New Property
  • Hong Kong Property
  • Hong Kong Property
Abstract: Recently, Henderson Land's Mong Kok development "LeoSquare. Gateway" has caused a sensation in the market. Following the release of its first price list, the effective average price is approximately HK$18,888 per square foot, targeting primarily young buyers and professionals. The project has adopted a phased sales strategy, with initial units offering discounts to enhance attractiveness.

According to Henderson Property's Managing Director and General Manager of Operations (2), Han Jiahui, the large-scale residential redevelopment project "LeoSquare" series in West Kowloon has sold approximately 95%, with only about 101 units remaining for sale in Phases 2 to 4, including only about 22 one-bedroom units and about 10 two-bedroom units.


Phase 5 "LeoSquare. Gateway" offers a total of 234 units, with approximately 94% being one-bedroom and two-bedroom units, including 164 one-bedroom standard units and 56 two-bedroom standard units, effectively filling the market demand gap. Han Jiahui stated that this phase's design is more in line with user needs, introducing smart home systems and intelligent dual-function environmental fan lights, while some units have mirrored storage cabinets installed on the ceilings, aiming to enhance the living experience.


Internet


The "Gateway Club" is another major selling point of the project, including the podium "Chiyoda Garden" and the rooftop "Sky Forest," with a total area of over 11,900 square feet, offering 17 diversified facilities to provide owners with a high-quality living experience.


In addition to "LeoSquare. Gateway," Han Jiahui revealed that the project at 4-24 Nam Kok Road in Kowloon City is expected to be launched in the second quarter. The project is adjacent to the MTR Tsung Kwan O Station and plans to provide approximately 310 units to meet the needs of small to medium-sized families. Furthermore, the super townhouse project at 29A Lugard Road on the Peak also has the opportunity to be launched later this year. According to Henderson's annual report, the project covers an area of 23,653 square feet, with an expected rebuilt floor area of 11,709 square feet.


With the comprehensive lifting of government control measures, market activity has significantly increased, with an average of over 130 transactions per day for new properties, indicating strong market demand. It is expected that the transaction volume in the property market will increase by 30% or even more this year, benefiting from the anticipated interest rate reduction policy and the newly launched Capital Investment Entrant Scheme, further stimulating market demand and demonstrating the vitality and potential of the market.

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"LeoSquare. Gateway" Leads the New Property Boom in West Kowloon
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