The Launch of the 59 Units of URA’s Kai Tak Development Sold out on First Day of Sale

The Urban Renewal Authority (URA) launched 59 units of its Kai Tak Development (the Project) for open market sale last month, which garnered an overwhelming market response.  Prior to the sale, the URA received approximately 1,700 Registrations of Intent, representing an oversubscription of about 28 times.  All units were sold out on the first day of sale (30 August 2025), and will be handed over to the owners in batches this December.

Located in the Kai Tak Development Area (KTDA), the Project is the URA’s first self-developed residential project.  The sold units, ranging from 442 to 675 square feet, primarily offered two and three bedrooms.  Demand was strongest for the three-bedroom units, which were all sold before noon on the first day of sale.

Statistics indicate that nearly 30% of buyers are existing residents of the KTDA, including three individuals who currently reside in the Project.  These three owners have lived in the Project for nine years and were seeking larger units to accommodate their growing families comfortably.  They have made the Project as their top priority due to its functional and efficient layout, and appealing living environment.

One of the owners was greatly delighted with the purchase of the desired unit, highlighting the spacious living room and enclosed kitchen design, which perfectly matches their family’s needs.  Another owner noted the ongoing growth of the KTDA and the Project’s prime location near the Kai Tak MTR station, citing the excellent transport network links and comprehensive facilities as key reasons for their choice.

Apart from residential properties, the URA is marketing various commercial properties to optimise its asset portfolio.  The recent sale of two commercial properties in Wan Chai and Tai Kok Tsui in a month underscores the attractiveness of the URA’s properties to both users and investors.

(ENDS)