Cheung Kong (Holdings) has received approval for its 513,000-square-foot luxury residential redevelopment at the Tiger Balm Garden site in Tai Hang. Cheung Kong can develop four 41-storey towers with 11 podium levels. Last year, the developer paid a HK$943 million land premium. It has to retain the historic Haw Par Mansion, former residence of publishing tycoon Sally Aw Sian. Cheung Kong also has approval for a revised blueprint of its Beacon Hill luxury project. It will build 16 blocks of eight to 12 storeys above one to three carpark levels with a total floor area of 780,000 sq ft. Meanwhile, Pacific Century CyberWorks has revised its building plan for the residential portion of the CyberPort development in Pokfulam. The new plan keeps unaltered the number of towers - 14 of 35 to 48 storeys, with a total floor area of about 1.72 million sq ft.