The site was sold at the highest accommodation value (A.V.) recorded for a Kowloon site since October 2021.
09 October 2026
Insight
09 October 2026
Kerry Properties wins a Homantin site for HKD4.31 billion
Categories:
- The acquisition price is around 54% above the upper end of the market expectations of HKD 9,000 to HKD 13,500 per sq ft.
- The development is expected to yield about 250 residential units, comprising primarily medium to large sized homes, with completion required by early-2032.
- Kerry Properties’ acquisition of the Homantin site underscores its expansion and confidence in the area, building on its prior purchase of the nearby KIL 11227 site on Sheung Shing Street, now developed as Mantin Heights, the area’s largest private residential estate by unit count.
- This acquisition also marks Kerry’s second successful residential land bid in 2026, following its February acquisition of SIL 860 at Shau Kei Wan Main Street East for HKD 1.38 billion.
- Taking into account the anticipated construction and financing costs, the developer's profit, the pricing of future units is expected to be in the range of HKD 38,000 – 48,000 per sq ft, SA.