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New World Development (0017) said it has leased out all the spaces at Artisan Hub, a revitalization project in San Po Kong, for an average price of HK$23 per square foot, a new high for similar projects in the region.

The rental market in the core business district of Kowloon East experienced a boost, thanks to the favorable impact of the "Kai Tak effect."

Artisan Hub is a retail-commercial building that has been transformed from a traditional industrial building located at No 9 Luk Hop Street.

With a total gross floor area of around 64,434 sq ft, Artisan Hub stands as an 11-story building.

The property has been primarily designated for retail and commercial purposes, catering to market conditions and demand.

Recently, the Inter Academy Hong Kong has leased a mid-level, full-floor space measuring approximately 5,564 sq ft in Artisan Hub.

Meanwhile, Hip Shing Hong unveiled the first price list of Oria in Shau Kei Wan, offering 50 units at an average price of HK$23,042 per sq ft after discounts.

The first batch of 50 flats comprise 32 studios, 14 one-bedroom and 4 two-bedroom units. The areas of these flats range from 220 to 456 sq ft.

After factoring in the maximum 9 percent discount, the actual prices of these flats range from HK$4.79 million to HK$11.39 million.

NWD's Artisan Hub is sold out