Fosun to invest over $10bn in 800-flat Clearwater Bay development at former Shaw Studios site

Fosun International (0656) officially broke ground on its long-awaited Clearwater Bay residential and cultural project at the former Shaw Studios site on Monday, with plans to launch over 800 residential units as early as late next year.

This comprehensive development, which involves an investment of over HK$10 billion, will comprise about 40 buildings spanning a residential gross floor area of over a million square feet, with about half the units expected to command sea views.

The first phase is scheduled to be completed by 2030 and will seamlessly integrate the residential blocks with 215,000 sq ft of commercial space.

The project will also feature a public cultural heritage zone of approximately 91,500 sq ft preserving historic Shaw Studios structures including the Grade 1 listed Administration Building, dubbing studios and colour grading facilities.

Leo Liu, chairman of Fosun's property development arm Forte Group Hong Kong, said that presales are targeted to begin between late next year and early 2028, depending on prevailing market conditions.

The pricing strategy will be conservative to ensure buyer satisfaction, Liu added, stressing that they will rely on their own internal standards rather than referencing other market developments. 

Guo Guangchang, chairman of Fosun International, stated that the company persisted through a decade of land premium negotiations and market fluctuations.

He expressed strong confidence in Hong Kong's future, adding that the project's vision is to create a place that balances liveability, business vitality, tourism appeal, and cultural legacy.

𝗗𝗼𝘄𝗻𝗹𝗼𝗮𝗱 𝗧𝗵𝗲 𝗦𝘁𝗮𝗻𝗱𝗮𝗿𝗱 𝗔𝗽𝗽 ↓