2025-03-28 28Hse Editor
Henderson Land (0012) has obtained permission to construct three buildings as part of its New Central Harbourfront development, with a gross floor area totaling 1.75 million square feet.
In August, the Buildings Department approved 22 building plans, which included nine for mixed-use residential and commercial developments and five exclusively for commercial purposes.
The most significant project to receive approval was the New Central Harbourfront Site 3 Project, a commercial property owned by Henderson Land in Central.
The developer acquired the site in 2021 for a record-breaking price of HK$50.8 billion. The approved development encompasses three commercial buildings, with one of them being four stories tall and the remaining two standing at six stories each. This yields a total gross floor area of approximately 1.75 million square feet.
The development plan, as submitted to the Town Planning Board, revolves around a "bridge" theme, intending to metamorphose Central's New Harbourfront into a global attraction.
The prospective development includes a picturesque 400-meter-long pathway, named the Grand Boulevard, extending from the inner regions of Central to the seafront.
The first phase of the project is projected to be finished by 2026, with the second phase likely to conclude by 2031.
On the residential front, a prominent project is the Hong Fook Street/Kai Ming Street redevelopment in To Kwa Wan, an undertaking of the Urban Renewal Authority acquired by CK Assets (1113) for close to HK$6 billion last year. Site A of this project has been endorsed for the construction of two mixed-use buildings, each 27 stories tall, along with three platform levels and a basement level.
The residential portion measures 237,816 square feet, while the commercial space spans around 47,573 square feet.
Simultaneously, a high-end residential site at South Bay Road in Repulse Bay, which was procured by S E A Holdings (0251) and Hon Kwok Land (0160), has been approved for the development of four standalone 4-story residences. The total gross floor area for this project is 19,053 square feet.
The site was purchased in the previous February at an approximated rate of HK$62,352 per square foot, securing its place as the priciest land sale per square foot in the history of land transactions, a record still unbroken to date.
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