Five Kowloon Bay towers get green light

June Chen

The Buildings Department approved six plans in July including five 54-story skyscrapers in Kowloon Bay.

The project at No 35 New Clear Water Bay Road, owned by Kowloon Development Company (0034), has been approved to build five 54-story towers, with a total gross floor area of 2.15 million square feet.

Kowloon Development said the site is expected to be developed into a shopping center and five residential towers.

The developer reached a land premium payment agreement with the government for HK$9.66 billion in 2021, at a cost of about HK$4,464 per sq ft.

Of the six approved plans, two were for apartment and commercial developments, one was for commercial development, and three were for community services developments.

In other news, Maryknoll House, a Grade I historic building located in Stanley applied to the Town Planning Board recently for further release density limits and refurbish existing dormitories and build one additional residential building, planning to offer 23 more residential units.

In primary residential market news, One Jardine's Lookout developed by Emperor International (0163) had received 1,000 checks as of yesterday, based on two price lists.

The units offered have been 11 times oversubscribed.

The project in Happy Valley could be finished and delivered to home buyers this year and has so far put 85 of the total 135 flats on the market, at an average price per sq ft after discounts at HK$18,229.

The developer's sister company, Emperor Watch and Jewellery (0887), will spend HK$91.2 million to rent a store in the Shanghai Commercial Bank Tower located at 12 Queen's Road Central, for its jewelry business.

The shop includes the ground and the first floor, with a total area of more than 7,000 sq ft. The five-year lease has an average monthly rent of about HK1.52 million.

Meanwhile, Centaline is offering smart home appliance coupons worth a total of HK$128,000 for buyers of flats at The Uppland in Gold Coast Bay as a National Day incentive.

The first five home buyers who purchase flats in the project through Centaline can each get a HK$25,600 coupon, and the promotion runs until October 31. The project developed by Early Light International Estates is located in Tuen Mun, and most of the units offer sea views.

Ansaldo in Shouson Hill, developed by Orion Land, plans to sell all three luxury houses in the project at HK$1 billion.

The project opened the second house, The Calliope, for the media's visit yesterday.