Emperor to revamp hotel into rental housingBusiness | 11 Feb 2019 4:59 pm
Emperor International will turn the former The Emperor Hotel into a residential building with 260 units for rent.
Executive director Donald Cheung said the company only paid about HK$1 million of land premium to the government for the project, which will be completed by 2023.
The construction cost would be almost HK$600 million.
The rental price would be more than HK$100 per square foot.
He said Emperor will continue to seek opportunities to but sites on Hong Kong Island and may tender for the Urban Renewal Authority’s Hang On street redevelopment project.