New World’s Deep Water Pavilia to Launch Price List for Two-Bedroom Units

The latest updates for Deep Water Pavilia, Phase 5A of The Southside at Wong Chuk Hang, developed jointly by New World Development (0017), Emperor Group, CSI Properties (0497), Lai Sun Development (0488), and MTR Corporation (0066), were announced on May 29. The developers revealed plans to release two-bedroom units via a price list as early as next week, involving approximately 90 units. Additionally, an exclusive discount will be offered, allowing buyers of tendered units to nominate up to two family members or relatives, who will then receive a 1% discount on their purchases.

According to Cannas Ho Ka-yan, director of sales and marketing for special projects at New World Development, the project sold two additional three-bedroom units facing Deep Water Bay on May 28, generating nearly HK$63 million. Over the past three days, 19 units have been sold via tender, grossing a total of over HK$1.1 billion. The average transaction price per unit reached approximately HK$58.5 million, with an average price per square foot of nearly HK$40,000.

The development consists of 447 units across two towers, 1A and 1B. Tower 1A features up to five units per standard floor, while Tower 1B offers up to six. Unit layouts range from two-bedroom to five-bedroom designs, including nine duplex specialty units. Usable floor areas span from 408 to 3,120 square feet, with 266 two-bedroom units, 112 three-bedroom units, 67 four-bedroom units, and 2 five-bedroom units.

Phase 5 of The Southside spans a buildable floor area of approximately 636,000 square feet. It was acquired in January 2021 by a consortium led by New World Development, which outbid five other developers. The land premium exceeded HK$6.4 billion, equating to HK$10,119 per square foot.

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