Airport Skycity takes off

Business | Samantha Wong 3 May 2018

A new world-class destination is set to rise up at Hong Kong International Airport (HKIA) in Chek Lap Kok, following the award of a contract for its development.

Airport Authority Hong Kong said yesterday that New World Development (NWD) has been awarded the tender for the SKYCITY integrated development which comprises retail complexes, dining areas, hotels, entertainment facilities and offices.

Under the agreement, NWD (0017) will design, construct, finance and manage the development on sites A2 and A3, adjacent to HKIA's passenger terminals.

Scheduled to be opened in phases from 2023 to 2027, SKYCITY is said to be one of the largest commercial developments in Hong Kong and will provide a maximum gross floor area of about 3.77 million square feet.

Of this, 2.1 million sq ft will be designated for dining and retail outlets, and 570,000 sq ft each for entertainment facilities and office space.

The remaining area will be used for public space and carparks.

NWD said it will offer some brand new experience-based entertainment such as Hong Kong's first indoor and outdoor kart track, AR and VR interactive games.

The developer also said this will be another landmark project for the group, following its latest mixed-use development project on the Tsim Sha Tsui harborfront.

The Airport Authority also said a hotel is being developed on another site of SKYCITY, in which Regal Hotels Group has been awarded the development and management right.

The new hotel is scheduled to open by 2020-2021.

Meanwhile, on the former Kai Tak airport site, close to one hundred rental deals were reported last month in the "Hong Kong Property for Hong Kong People" project launched by the government.

The residential One Kai Tak project was completed by China Overseas (0688), a subsidiary of China State Construction Engineering.

Midland Realty said there were 97 rental deals in April, with monthly rents priced from HK$13,600 to HK$25,800, while the average per saleable square-foot rent stood at HK$32 per sq ft.

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