Celestial Heights is a private housing estate

Private housing estate

A private housing estate is a term in Hong Kong that refers to a housing estate developed by a private developer, as opposed to a public housing estate built by the Hong Kong Housing Authority or the Hong Kong Housing Society. It usually is characterised with a cluster of high-rise buildings,...

 in To Kwa Wan

To Kwa Wan

To Kwa Wan is a bay and an area of the eastern shore of Kowloon peninsula of Hong Kong. The area is part of urban Hong Kong, and is adjacent to Hok Yuen, Hung Hom, Ma Tau Wai and Ma Tau Kok...

, Kowloon

Kowloon

Kowloon is an urban area in Hong Kong comprising the Kowloon Peninsula and New Kowloon. It is bordered by the Lei Yue Mun strait in the east, Mei Foo Sun Chuen and Stonecutter's Island in the west, Tate's Cairn and Lion Rock in the north, and Victoria Harbour in the south. It had a population of...

, Hong Kong

Hong Kong

Hong Kong is one of two Special Administrative Regions of the People's Republic of China , the other being Macau. A city-state situated on China's south coast and enclosed by the Pearl River Delta and South China Sea, it is renowned for its expansive skyline and deep natural harbour...

, jointly developed by Cheung Kong Holdings and Nan Fung Group

Nan Fung Group

Nan Fung Group is a privately held group of companies carrying on the business of property development as its core business in Greater China including shipping, textiles and financial services. It is also one of the leading property developers and largest privately held developers in Hong Kong.Nan...

. There are 939 housing units with an average price of HK$19,000,000. It is composed of several more-than-50-floor buildings. It will be completed in 2009 and 2010.

In 2004, Cheung Kong Holdings succeeded to pay HK$9.4 billion for the land of the former Ho Man Tin Police Married Quarters during an auction

Auction

An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder...

. This price was the second highest record in Hong Kong property history after Sino Land

Sino Land

Sino Land Company Limited is one of the leading property companies in Hong Kong, a member of Sino Group owned by Singaporean Ng Teng Fong family. It is mainly engaged in real estate development for sales and investment.-History:...

 paid HK$11.8 billion for the land in Siu Sai Wan

Siu Sai Wan

Siu Sai Wan is a newly developed residential area in the northeastern part of Hong Kong Island in Hong Kong. It is located in the eastern part of Chai Wan, and is administratively under the Eastern District. The population is about 80,000.-Location:...

, later Island Resort

Island Resort (Hong Kong)

Island Resort is a high-rise complex located in the Siu Sai Wan district of Hong Kong. The complex contains four towers, each of which rises 60 floors and in height; although the property is classified as containing nine towers, real estate data company Emporis ranks the complex as only four...

, in 1997.