Hysan, Chinachem unveil Lee Garden Eight

Cici Cao

Hysan Development (0014) and Chinachem Group have named their new project in Causeway Bay "Lee Garden Eight," with a completion date set for the second quarter of 2026.

The site, spanning over 1 million square feet, was formerly occupied by the Electrical and Mechanical Services Department.

The project is set to be a new green landmark and a benchmark for future office environments, the developers said.

Lee Garden Eight, featuring a 60,000 sq ft green open space, launched measures to improve resource efficiency in areas such as energy consumption, renewable energy, waste management and water conservation, said Ricky Lui Kon-wai, Hysan executive director and chief operating officer.

Lui expects it to be "one of the leading sustainable projects in the city."

In Cheung Sha Wan, Vanke Hong Kong unveiled six top-floor flats named Skyline Series in its completed project Bondlane I, a redevelopment project in Sham Shui Po.

The flats range from one- to -three-bedroom units, with sizes between 411 to 547 sq ft.

In Yuen Long, Kerry Properties (0683) named its new project Hava, offering 594 flats with the sales launched before the upcoming Chinese New Year at the earliest.

The flats, with sizes between 245 and 851 sq ft, include one- to three-bedroom units, among which more than 90 percent of them are one- and two-bedroom units. Prices will be in line with nearby projects, according to the developer.

In the secondary market, movie star Chow Yun-fat has put his home at Sunshine Villa on The Peak on the market for HK$195 million after slashing the asking price by HK$25 million.

Cushman & Wakefield forecasts Hong Kong home prices to rebound by 5 percent next year. It said the goal will be reached if interest rates continues to fall, along with stable stock market performance and favorable bank mortgage policy, adding the increase could be reached in the first half of next year.

The real estate services firm also anticipates the number of residential deals to rise by 5 to 8 percent next year, reaching 56,000 to 58,000.

In other news, W Square in Wan Chai is looking for sale with an asking price of HK$2.2 billion.

The tender includes the naming right, with a closing date of March 18 next year.

Savills Hong Kong, the sole agent for the tender, estimates the project could record a monthly rental income of HK$5 million.

Also in Wan Chai, Hopewell Mall will officially open next Thursday, according to the developer Hopewell Holdings.