For a number of years, Hong Kong has faced a housing supply and demand imbalance. In addition, the quality of living standard and the sustainability of new residential property developments has increasingly been scrutinised. To cater to the growing population, and to capitalise on land size and availability, the ‘nano’ flat featured in tall buildings was a popular choice for new residential property developments.
Today, promoting construction innovation and stabilising the market form part of the Government’s Long Term Housing Strategy. Some of the residential projects in Hong Kong to keep an eye out for include:
SHKP’s Shap Sze Heung Project (PID 54379107): Construction has commenced on a new development in Hong Kong’s Sai Kung District, featuring 46 apartment buildings between 15 to 33 storeys. Developed by Sun Hung Kai Properties Limited, this project is valued at an estimated 10,371m HKD and is expected to be completed in Q4 2025.
Lam Tsuen Development (PID 76234007): Henderson Land Development Company Limited and Wheelock Properties (Hong Kong) Limited have been listed as developers on Lam Tsen Development located in the Tai Po District. Valued at an estimated 21,445m HKD, the project will feature public housing/starter homes and private housing apartment buildings.
Redevelopment of Ming Wah Dai Ha (PID 72432007): Phase three redevelopment of Ming Wah Dai Ha is currently at the Design and Documentation stage, with three 26-storey apartment buildings expected to be constructed. In addition, the project will feature a 28-storey senior citizen residence apartment building, recreational facilities and a clubhouse, all valued at an estimated 2,200m HKD.
There are few places in the world better for office development than in Hong Kong, a densely populated city characterised by high-rise residential buildings and office towers. However, the prediction for the coming years is that there will be an excess supply of office space thanks to pandemic measures causing an exodus of foreign and local residents.
Commercial real estate in Hong Kong is still pushing ahead, with the following projects currently underway:
Guangzhou-Shenzhen-Hong Kong Express Rail Link West Kowloon Terminus (PID 72710007): At the site of the Guangshengang XRL West Howloon Terminus, construction has commenced on two office buildings. Developed by Sun Hung Kai Properties Limited, the offices themselves will sit on top of five podium levels of a shopping centre. Construction is expected to be completed in Q1 2028.
Former The Excelsior (PID 69458007): Where the Excelsior Hong Kong once stood in the Wan Chai District, construction on a new 31-storey office building has now commenced. Valued at an estimated 5,100m HKD, this project is expected to be completed in late 2024.
92-103A Connaught Road West Offices (PID 61836007): Two 28-storey office buildings, developed by Tai Hung Fai Enterprise Company Ltd, are set to become “the new icon of the Hong Kong Skyline” with its sailboat design concept. Currently at the Design & Documentation stage of its development, this project is set to commence construction in Q2 2023.
From roads to marinas, Hong Kong has long been recognised for its advanced land, sea and air transport and communications systems, working to meet the region’s need for mobility and economic productivity. With government-initiated policies now aimed at achieving carbon neutrality, sustainable building performance and energy efficiency are at the forefront of Hong Kong’s latest infrastructure projects.
Some of the infrastructure works to keep an eye out for include:
Site Formation and Infrastructure Works at Long Bin, Yuen Long (PID 69343007): Construction has commenced on site formation works for public housing developments at Long Bin in the Yuen Long District. This project will include footbridges, a two-lane carriageway, a public transport interchange, and ancillary works including drainage, sewerage and landscaping works.
Non-Public Housing Facilities at Diamond Hill CDA (PID 67820007): This project, valued at approximately 1,497m HKD, will see the construction of a water feature park, landscaped walk and transport infrastructure works. The latter includes the construction of a public transport interchange, pedestrian subway, road improvements and footbridges.
Site Formation and Infrastructure Works for Yuen Long South First Phase Development (PID 79754007): Expected to commence construction in Q4 2024, this project will see site clearance and formation for a total of approximately three hectares of land. Not only will it include the reconstruction/widening of existing local roads in preparation for the subsequent development of public housing, but it will also see the construction of new roads and a common utility tunnel.