SHKP wins tender for the Sai Yee Street commercial site Riding on economic recovery to build a new landmark in Kowloon
Sun Hung Kai Properties Limited (SHKP) is very pleased that the Group won the tender for a commercial site on Sai Yee Street, Mong Kok. SHKP will develop it into an office-and-retail landmark in Kowloon.
SHKP Chairman and Managing Director Raymond Kwok said: “SHKP is committed to Building Homes with Heart and continually supports the development of Hong Kong. This new project signals another vote of confidence in the city by the Group following its tender success for the Artist Square Towers Project in the West Kowloon Cultural District last November. With Hong Kong on the path to economic recovery, the Group is excited to embark on this iconic large-scale commercial project, which will create strong synergy with Grand Century Place, a property owned by the Group for more than two decades. We believe the project will give fresh impetus to the development of Hong Kong.”
Mr. Kwok revealed that the Group will build a 320-metre-tall tower, the tallest commercial landmark in Kowloon after ICC, with a gross floor area of 1.52 million square feet. It will come with a walkway to the MTR Mong Kong East Station, as well as SHKP’s Grand Century Place and MOKO. As the latter two have a total gross floor area of 1.2 million square feet, the aggregate commercial space of the three developments will be over 2.7 million square feet, making the cluster the largest office-and-retail landmark in Mong Kok and a business, retail and tourist hub in Central Kowloon.
He added that the project will provide a public rooftop viewing platform, the only such facility in the vicinity, as well as plenty of green open space to offer an unprecedented experience to visitors and residents in Mong Kok. It will also provide a public transport interchange, and an improved road network and pavements to substantially improve traffic in the area. Linked to the nearby footbridge network, the project will be seamlessly connected to the MTR Mong Kok Station, where the Tsuen Wan Line and Kwun Tong Line intersect, as well as the East Rail Mong Kok East Station, greatly enhancing the connectivity of the district.
One of the busiest commercial cores in Hong Kong, Mong Kok is a magnet for locals and tourists of all ages. Apart from offering traditional shopping attractions, Mong Kok is a trendy place with a lot of upper-floor shops and has keen demand for new large-scale commercial complexes. SHKP developed Grand Century Place, which sits atop the MTR Mong Kok East Station, in the 1990s and has since gained a broad understanding of the local business environment. The two premium office towers, MOKO, a large-scale shopping mall, and the Royal Plaza Hotel have become a business and shopping hub with heavy footfall.
Connected to the MTR Mong Kok East Station on the East Rail Line, the Sai Yee Street commercial project is set to tap into the enormous business opportunities arising from the full resumption of travel between Hong Kong and the mainland. With its expertise in building transit-oriented developments, SHKP will make the most of the project’s unrivalled transportation network. On top of its excellent railway connections, the project will provide a new terminus for buses, minibuses and cross-boundary coaches, allowing people in different parts of Hong Kong and the rest of the Greater Bay Area to easily access it. Through a new public transport interchange, redesigned roads, pavements and walkways, the project will improve the traffic in the area. To meet the needs of office workers and shoppers, the development will offer 800 parking spaces to complement the 400 or so parking bays in Grand Century Place.
Scheduled for completion in 2030, the Sai Yee Street development will give Mong Kok a facelift. In addition to providing grade-A offices, a shopping mall and upper-floor shops, the project will have a rooftop viewing platform for visitors to enjoy a sweeping view of Kowloon Peninsula. The development will have plenty of green open space, including outdoor space of 30,000 square feet on the ground level. Other ancillary facilities will include footbridges to nearby stations and buildings, a community hall and other social amenities.
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