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Discussion Starter · #1 ·
South China Morning Post
Shangri-La eyes 4-star hotel for Hung Hom site
PUBLISHED : Saturday, 24 December, 2011
03 Jun 2014

Luxury hotel operator Shangri-La Asia says it will build a multi-use complex, including a Traders Hotel, on a recently acquired site in Hung Hom.

The 15-storey hotel, which will be its fourth in Hong Kong, will have 698 rooms with a minimum size of 344 sq ft, most offering unobstructed views of Victoria Harbour.

The complex will also include two podium floors for retail, lifestyle and entertainment facilities to support the surrounding office and residential buildings.

A transport interchange within the building would offer access to surrounding areas including the upcoming cruise terminal at Kai Tak, it said.

'The area around Hung Hom Bay is going through a redevelopment, and with the facilities offered at the new complex we will be able to offer valuable amenities to back the surrounding community,' it said.

On Thursday, the Lands Department announced the hotel site had been awarded to Shangri-La Hotel (Kowloon), a wholly owned subsidiary of Shangri-La Asia, for HK$2.33 billion.

The site has a potential gross floor area of 62,495 square metres, of which 17 per cent will be used for the transport interchange.

The group operates and owns two five-star hotels - the Kowloon Shangri-La in Tsim Sha Tsui East and Island Shangri-La in Admiralty - and the four-star Traders Hotel in Western.

Shares of Shangri-La Asia rose 1.5 per cent to close at HK$13.52 yesterday.

Shangri-La is part of the Kerry Group, which publishes the South China Morning Post through the SCMP Group.

Meanwhile, Sino Land confirmed it secured a low-density residential site in Mui Wo, Lantau Island, for HK$55 million, or HK$1,113 per sq ft of developable gross floor area. The market had expected the winning bid to be at least 53 per cent, and up to 215 per cent, higher.

The site will provide a total gross floor area of 4,590 square metres, of which 1,580 will be designated for commercial use.

A maximum of 50 homes can be built on the site.

37.77m

The number of visitor arrivals to HK in the first 11 months of the year, 16.3 per cent higher than in the same period in 2010

See the cleared-out area at the bottom centre - by peterkan007 from dcfever :

 

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Discussion Starter · #4 ·
How is a mere 15 story hotel a 100m + highrise?
Government documents actually highlight it will be 18 floors and there is a height limit of 75m, but I could not find the final approval document so far as some of these conditions may have been overwritten at the end. So in the meantime, I'll keep it in the Highrises section.

Renderings :









Shangri-La Asia to add nine new hotels
22 March 2013
South China Morning Post

Luxury hotelier Shangri-La Asia plans to add nine new hotels, including one in Hung Hom, it said yesterday after posting a 42 per cent year-on-year increase in net profits.

Net profits for the year to December 2012, including a US$185 million revaluation gain on investment properties, rose to US$358.9 million.

Total sales revenues were up 8 per cent to US$2.05 billion, and the board declared a final dividend of 10 HK cents.

For the Hung Hom project, Shangri-La said it planned to build a development, including a Shangri-La hotel and retail facilities on the waterfront site.

“Approvals for the development plans have been sought from the relevant government authorities,” the company said in its results announcement.

In 2011, Shangri-La Hotel (Kowloon), a wholly owned subsidiary of Shangri-La Asia, won a waterfront site in Hung Hom for HK$2.33 billion.


Apart from the Hung Hom project, the company also announced six projects on the mainland, one in Accra, the capital of Ghana, and one in Rome.

Shangri-La Asia’s chief financial officer, Madhu Rao, said the land had been acquired for these projects. “[However], we cannot have an accurate [total investment] cost [for all these hotels] until the plans are finalised. Those projects are in the design stage,” he said.

Currently, Shangri-La Asia said, it had 27 projects under development and due to open for business from the middle of this year to 2016. Of these, 17 hotels are on the mainland and another 10 in countries such as Turkey and Sri Lanka.

It said the weighted average room yields for the group’s owned hotels saw a 6 per cent increase last year over 2011. The stock rose 2.53 per cent to HK$17 yesterday before the results announcement.

Shangri-La is part of the Kerry Group, the controlling shareholder of SCMP Group, publisher of the South China Morning Post.
 

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Discussion Starter · #5 ·
^^
Do you have link to this photo in higher resolution? It's really amazing.
That is the biggest version available.
 
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