Thumb's up for Early Light International offering quality properties at fair prices

Early Light International, found by "King of Toys" Francis Choi Chee-ming, is offering 1,323 flats at its first Hong Kong residential project, Gold Coast Bay in Tuen Mun, amid its expansion in the property sector in China and globally.

Established in 1972, the company is not only one of the world's largest toymakers but also a multinational conglomerate covering property development and management, hospitality, education, automotive services, watch retailer, media, and medical services.

The Choi family acquired prime properties, including residential buildings, commercial complexes, parking lots, and malls during the Asian financial crisis and the global financial crisis. These investments brought favorable returns after the economic recovery, laying a solid foundation for its property development business.

Ahead of this residential project, the company has developed and constructed the Anchors Academy in Yuen Long, and The Pier Hotel in Sai Kung.

Dubbed as the "Cambridge of Hong Kong," the school spans 110,000 square feet with elegant architecture, lush greenery, and top-notch education facilities. The hotel is a chic and popular accommodation option with its spacious rooms and sea views.

Located on Castle Peak Road-Castle Peak Bay area, Gold Coast Bay has two blocks each in phases one and two, and it is expected to be completed at the end of next year. Its first phase, The Uppland, consists of two residential blocks offering 692 flats, focusing on one- and two-bedroom units.

The application for presale consent for the project is in the final stage.

The Property Development department's managing director Raymond Lee Ping-yu said the project will be priced referring to the nearby projects in the first and secondary hand markets.

Ideal location

The project boasts a prime geographical location, promising residents a brand-new coastal living experience with up to 70 percent of the units offering sea views of Castle Peak Bay, a rarity among new projects in the area, Lee said.

Within a leisurely two-minute plus stroll, residents can access the Golden Beach, indulging in a variety of water activities amidst the fresh sea breeze while enjoying sunset views, Lee said. The project is well connected with core districts and has easy access to the mainland.

The completion of Route 11 and the extension of the MTR Tuen Mun South Extension in the pipeline. Coupled with the imminent completion of the widening of Castle Peak Road, they will significantly improve the transportation accessibility in the area.

Additionally, there are a number of bus and public light bus routes connecting Hong Kong Island, Kowloon and the New Territories.

Within a 20-minute drive, residents can reach the Hong Kong-Zhuhai-Macao Bridge and Hong Kong International Airport.

The developer is set to collaborate with internationally renowned property management firm, aiming to deliver premium and professional property management services to residents, Lee said.

Each member of the project team brings extensive experience in large real estate and commercial property development, including managing multi-billion-dollar Asia real estate investment portfolios and overseeing the construction management of the West Kowloon Cultural District's Lyric Theatre Complex, Lee added.

Outside of Hong Kong, the group holds and manages dozens of properties across cities including Shanghai, Shenzhen, Guangzhou, Zhongshan, Hunan and Shaoguan.

One of its flagship projects, Zhongshan 108, in join venture with TFG Real Estate, boasts a total investment exceeding 10 billion yuan (HK$10.8 billion) and shows great sales performance. Situated adjacent to the Nanzhu-Zhongcheng intercity link, connecting Zhuhai, Zhongshan, and Guangzhou, the project spans over 8 million sq ft, evolving into a high-end residential community with Grade A office buildings, five-star hotels, apartments, luxury homes, commercial districts, cultural center, and riverside parks.

Expansion overseas

Expanding its footprint to the United States and Australia, the group has invested over AU$1.2 billion (HK$6.2 billion) in the Australian property market. Its residential project in Melbourne's Box Hill, strategically positioned next to the upcoming Box Hill Station on the new Sub-Urban Railway Loop, significantly enhances its development potential.

Lee said leveraging local talent is key to the group's success across various regions.

"For instance, we have local partners in mainland China and local teams assisting in design and project management in the United States and Australia," he said.

"Investing across diversified regions could help mitigate risks," Lee said. "We carefully study the development policies in different areas, conduct comprehensive due diligence, weigh investment risks and returns, and take a long-term perspective focusing on leasing operation on our oversea investment assets."

Quoting the Choi family's watchwords, Lee said, "For Hong Kong people, buying property is often a once-in-a-lifetime decision, so the group must ensure that every product and real estate project is of top quality."

He stressed the group's optimism about the long-term property market in Hong Kong, continuing to pursue the goal of quality products at fair prices, striving for sustainable and innovative products, and aiming to achieve win-win results with customers.