No.1 North Point Terrace sold for over $1.9b

The deal is Hong Kong’s largest private residential redevelopment site transaction so far this year.

No.1 North Point Terrace in Hong Kong has been sold to Chinachem Group through a private tender for over $1.9b, its facilitator, CBRE, said

The transaction is the largest private residential redevelopment site sale in Hong Kong year-to-date in 2026.

The site is located in an established urban district with strong connectivity and redevelopment potential.

CBRE, which acted as the sole agent for the vendor, said the transaction reflects continued investor appetite for large-scale urban redevelopment opportunities with long-term value-creation potential.

Reeves Yan, executive director and head of capital markets at CBRE Hong Kong, said No.1 North Point Terrace is one of the few sizable sites available on Hong Kong Island.

Yan said the site offers rare development potential and planning flexibility, with high floors of the future development expected to have Victoria Harbour sea views.