Hong Kong’s largest developer by market value is focusing its attention on rental housing for the city’s young professional class after launching a pair of projects in Central and Kennedy Town.
Townplace, a rental residential concept which enhances high quality apartments with tech functionality, managed community living and flexible leasing terms, has caught on with millennials in Hong Kong, and Sun Hung Kai attributes its success to a curated range of features for hurried workers in the Asian financial hub.
“Professionally-managed rental housing suits the busy lifestyle in Hong Kong, but today’s young leaders are looking for more,” says Belinda Kuan, General Manager of Sun Hung Kai’s Signature Homes division which manages Townplace. Kuan notes that convenience now means integrating with mobile technology, providing access to community facilities and helping residents to maintain their work-life balance.
With Hong Kong’s economy on the rise as the city looks forward to putting the pandemic behind it, Kuan’s team is already experiencing a rise in rental inquiries for its most innovative residential offering.
“The young generation appreciates social engagement,” Kuan explains. “Townplace doesn’t only provide an apartment for living, we also provide our residents with a dynamic social engagement milieu.”
Located close to both the central business district and to popular shopping, arts and entertainment destinations, Townplace’s two locations on Hong Kong island already provide residents with easy access to the city’s cultural life.
Having studied the preferences of young professionals in Hong Kong, however, the Townplace team built further convenience and community into the firm’s two sites by assembling a curated mix of facilities to make life easier and more enjoyable for residents.
“Townplace provides a quality experience which goes beyond physical space,” Kuan says. “We are very experience-centric, and examined every touch point from residents’ point of view.”
Built into each of the two facilities is the Duo Social Space, the company’s signature clubhouse, which covers nearly 30,000 square feet spread across the two properties. Residents at each location enjoy access to both clubhouses including the gym at Kennedy Town and the swimming pool with sundeck at the Soho spot.
The company also employs a professionally trained community team which organises social and networking events at Townplace to ensure that the company’s upwardly mobile residents stay socially connected.
“We have organised rooftop yoga classes, special events like pop-up flower bouquets on Mother’s Day, and even candle workshops,” Kuan says. “All of this is put together by our community team who are dedicated to enhancing the social life of residents.”
With mobile devices and global connectivity rapidly blurring the lines between work and life for many professionals, Sun Hung Kai has incorporated flexible working facilities into Townplace that allow residents to join a late night video call, or to keep their startups humming.
“The definition of ‘work-life balance’ is not the same anymore,” Kuan says. “Work from home is now part of your lifestyle and we have ensured that our residents have the facilities needed to get things done efficiently, so they can still have time to relax.”
As an example, Kuan notes that one Townplace tenant who owns a startup is able to operate from within the building’s built-in co-working facility in the Duo social space, which provides him with a variety of workspace options, business-grade Wi-Fi, soundproof phone booths, meeting rooms and more.
One of the most empowering aspects of Townplace for residents is the way that Sun Hung Kai has built in the ability to meet a broad range of living requirements.
“Since we first launched Townplace SOHO in 2020, we have seen that professionals are seeking residential options with more flexibility, especially given some of the recent uncertainty,” Kuan says.
Rather than locking residents into annual or longer-term leases, Towners are able to rent month by month, allowing them to take advantage of the community’s five-star services, without having to stay for a full year.
Residents also can choose how they want their apartments decorated and managed, with serviced, furnished and unfurnished options available.
Townplace’s flexibility appears to be paying off with both individual and corporate clients as the company sees the two projects filling rapidly this year.
The company expects that, given current levels of occupancy and demand, it will put in place rent increase of 3 to 5 percent in the second half of this year.
The same dedication to efficiency that inspires Townplace’s physical facilities, also powers its tech infrastructure.
The company works with local mobile provider SmarTone to implement an integrated home automation system at Townplace. It also launches an exclusive mobile app integrating all functions including home automation system, door locks and Duo Social Space reservation system into one.
To keep “Towners,” as the company’s residents are known, connected to each other, the company provides My Town in the app, where they can communicate with like-minded residents, share tips on destinations in the neighbourhood, or even make business connections that lead to real world collaboration.
“We are very optimistic towards the rental market in 2021 and 2022,” Kuan says. “As the epidemic becomes more stable and the lift of travel ban, we look forward to welcoming new Towners, both from here in Hong Kong and from overseas.”
This sponsored feature is provided by Sun Hung Kai Properties. For more information on Townplace, please visit their website here.