Cheung Kong, Hutchison gain approval for Quarry Bay project
Cheung Kong (Holdings) and Hutchison Whampoa have secured Buildings Department approval for plans to jointly develop a commercial-hotel project in Quarry Bay.
The project will comprise a 31-storey office tower and a 32-storey hotel over two basement levels at 661-665 King's Road, with a total floor area of 561,070 square feet.
Construction is already at an advanced stage and is due to be completed next year.
It was among 32 building plans approved by the department in September. They included 15 residential-related developments, five commercial projects and three industrial developments.
Hing Kong Holdings received approval for four 12-storey apartment blocks on a Yuen Long site it bought for $290 million at a government auction in March. The project will provide a total floor area of 230,274 sq ft.
Jadespring received consent to develop 12 low-rise apartment blocks at Mount Austin Road on the Peak.
Yu Hing Property Development will build a 30-storey commercial-residential tower at Gillies Avenue South in Hunghom.
The Buildings Department issued consent for work to start on 30 building projects in September. They involved 878,536 sq ft of usable domestic floor area and 799,054 sq ft of usable non-domestic floor area.
The department issued 36 occupation permits, involving 1.1 million sq ft of usable domestic space and 2.2 million sq ft of non-domestic space.
The declared cost of new buildings completed in the month was about $5.66 billion.