Sun Hung Kai Properties plans to debut the flagship property under its Townplace rental residential brand in the second half of 2023, with the blue-chip builder touting the West Kowloon project as Hong Kong’s first large-scale “aparthotel”.
Located at 10 Lai Ying Street in Sham Shui Po, Townplace West Kowloon will offer daily and monthly flexible leasing terms in a bid to attract young professionals to the up-and-coming West Kowloon Cultural District, SHKP said Wednesday in a release.
The project is set between the West Kowloon waterfront and Lin Cheung Road near Nam Cheong MTR station, which in turn is one stop along the Tuen Ma Line from Austin MTR station — the latter providing a connection to West Kowloon railway station and its mainland-bound high-speed trains.
“Townplace West Kowloon, as part of SHKP’s integrated development of the district, will advance Hong Kong’s plan to attract young talent to the city,” said the HKEX-listed company controlled by the Kwok family.
Hub Takes Shape
Following on from a pair of Townplace properties in Central and Kennedy Town on Hong Kong Island, the latest development adds to SHKP’s lineup of West Kowloon projects, which include the construction of two towers atop West Kowloon railway station on the city’s largest-ever commercial site.
The estimated HK$70 billion ($8.9 billion) commercial project, dubbed the West Kowloon Business District, will comprise Grade A offices with an area of 2.6 million square feet (241,548 square metres) upon completion in 2025. Plans call for 8,500 square metres of public open space and an outdoor observation deck on the top floor of the tallest building with views of Victoria Harbour.
Last November, SHKP entered the sole bid for the nearby Artist Square Towers commercial project, a 40 hectare (98.8 acre) site with three planned towers spanning 699,654 square feet of office and retail space. The West Kowloon Cultural District Authority awarded the tender to the developer without disclosing the value of the bid.
The centrepiece of the district is SHKP’s 108-storey International Commerce Centre, which stands between the railway station and the future Artist Square Towers.
“In combination with ICC, West Kowloon district is set to become a dynamic business, leisure and transportation hub with fantastic connections to the mainland and international destinations,” SHKP said.
No Slowing Down
SHKP kicked off 2023 by winning a Lands Department tender for a site in Mong Kok, just northeast of West Kowloon, with a bid of HK$4.73 billion ($602 million), clinching the city’s first commercial land sale of the year.
The builder placed the highest tender for the site’s 50-year land grant, beating out CK Asset Holdings and an entity controlled by Great Eagle Holdings and Sino Land Company for the parcel at the junction of Sai Yee Street and Argyle Street. SHKP plans to develop the site into an office and retail complex with a height of 320 metres (1,050 feet) and 1.52 million square feet of space.
This week the group reported strong demand for the latest phase of its Novo Land residential project in Tuen Mun, New Territories. Roughly 58 people were competing for each of the 171 flats released for sale on Wednesday, SHKP said, as Hong Kong’s post-COVID reopening stokes housing demand.
Note: An earlier version of this story used an out-of-date image. It has been updated accordingly.