CK Asset's Blue Coast II at Wong Chuk Hang to Offer 558 Flats

CK Asset Holdings (1113), in collaboration with MTR Corporation (0066), has officially named Phase 3C of the Wong Chuk Hang Station development as "Blue Coast II." The project comprises 558 units, primarily offering 2- and 3-bedroom apartments, and is expected to go on sale as early as October.

The development consists of two towers, with a total of 558 units ranging from two- to four-bedroom layouts, with a focus on two- and three-bedroom units. The unit types in this phase will be reportedly more diverse compared to the previous phase, with the earliest possible launch being in October.

Since the launch of Blue Coast Phase 1, 571 units have been sold, representing approximately 89% of the total 642 units, generating HK$10.8 billion in revenue. This means an average price of HK$19 million per unit, with an average price per square foot of around HK$25,000.

The third phase of the Wong Chuk Hang South Island development is the largest project above the Wong Chuk Hang MTR station. Jointly developed by CK Asset and MTR Corporation, it is split into two sub-phases: Phase 3B, Blue Coast, which offers 642 units, and Phase 3C, which has 558 units. Together, they account for 1,200 units in total. Phase 3A, which is designated for commercial use, will be handed over to the MTR upon completion.

In August 2018, CK Asset was awarded the development rights for Phase 3 of the Wong Chuk Hang South Island project. This is the only section of the Wong Chuk Hang MTR station development that includes a shopping mall, with a total buildable floor area of 1.5 million square feet. The land premium for the project was HK$12.97 billion, or approximately HK$8,614 per square foot, making it the highest land premium for a railway project in history.

The average construction cost per square foot for the project was approximately HK$28,000. 

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