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Until now, Hong Kong’s most expensive flat per square foot is a 5,497 square feet unit on the 80th floor of The Arch in Kowloon, another development by Sun Hung Kai. –PHOTO: AFP
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HONG KONG – TWO penthouses in Hong Kong were each put on sale for a record US$38.5 million (S$54.5 million), a developer said Friday, as demand from wealthy Chinese buyers has sent prices in the city soaring.
Sun Hung Kai, the world’s largest developer by market value, said it raised the asking price by 20 per cent for the 4,000 square feet penthouses on top of the Cullinan twin towers, Hong Kong’s tallest residential development.
The properties will be the city’s most expensive apartments if they are sold at the 300 million Hong Kong dollar asking price, which translates into US$75,000 per square foot. Continue reading
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