Three luxury projects approved

Staff reporter

Hong Kong's Buildings Department approved construction plans for three luxury residential projects in April, including Agile's (3383) redevelopment of Dragon Court in Kowloon Tong.

The department has approved a total of 13 projects in April, including six residential-related development proposals, three commercial plans, one industrial development and three applications for community services.

Dragon Court, located on 6 Eastbound Road, will be redeveloped into a four-storey flatted residential building with a gross floor area of about 25,340 square feet.

Agile purchased the project via a compulsory sale in July 2023 at a reserve price of HK$966 million.

At Jardine's Lookout, Serene Villa on 41-45 Perkins Road has received approval to be rebuilt into a five-storey residential building boasting 9,540 sq ft of gross floor area.

The project is said to be owned by veteran investor Lee Ser Siu-hung, the sister-in-law of tycoon Lee Shau-kee.

A three-storey luxury project will be developed on 54 Chung Hom Kok Road in Stanley, which has a gross floor area of 7,433 sq ft.

And Sun Hung Kai Properties (0016) has been allowed to build a four-storey shopping mall in Kwun Tong with a gross floor area of 105,000 sq ft.

SHKP won the site on Anderson Road in 2022 with a final bid of HK$296 million.

The developer revealed it planned to invest about HK$1 billion to build a shopping mall.

In other news, SHKP will start the sale of 156 flats at phase 3B of Novo Land in Tuen Mun on Friday.