On November 13 (California time), Phase I of ONE Carmel — a top-tier real estate project in California that has been eight years in the making — officially obtained the Final Subdivision Public Report issued by the California Department of Real Estate (DRE). The approval of this permit marks a critical milestone, as the project has crossed the key threshold from planning to market entry and has officially entered the compliant sales stage. At the same time, according to the latest valuation report, following the approval of the sales permit, the land value of the ONE Carmel project has now exceeded US$200 million (approximately HK$1.56 billion), while the total project value surpasses US$2 billion (approximately HK$15.6 billion).
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