THE Mass Transit Railway Corporation (MTRC) has unveiled its revised blueprint for a giant property development above its future airport railway station on the West Kowloon reclamation. A total gross floor area of 11.73 million square feet will be built at a total investment cost of $71 billion, and will include office towers, retail malls, hotels and apartment blocks. At its heart will be an 88-storey office and hotel tower, which upon completion could be Hong Kong's tallest building, 10 floors higher than the reigning champion Central Plaza in Wan Chai. 'It will be one of the landmark towers in the territory,' MTRC chairman Jack So Chak-kwong said. The MTRC has spent more than $10 million revising its designs for the Kowloon project to take advantage of more generous height restrictions expected when Kai Tak airport closes in 1998 and aircraft flight paths change. There will now be fewer but taller buildings, and more open space. The project will be the largest real estate development to be constructed on the new railway line, and is to be completed by the year 2008. It is twice the size of property developments proposed above the MTRC's planned airport railway station in Central, to be known as Hong Kong Station. It is also bigger than three other proposed developments on the new stations in Tung Chung, Tai Kok Tsui and Tsing Yi. The project includes a total three office towers and will provide Kowloon with a new business district. There will be 963,900 square feet of new shops and four hotels, including a five-star hotel in the 88-storey tower. Hong Kong's stock of hotel rooms will be boosted by 2,400. A total of 5,126 apartments will be built - spread over 18 towers - with 6,624 car-parking places. Mr So said yesterday the Kowloon station development, together with the property project above the future Central station, were good indicators of Hong Kong's fast-paced development in future. The Kowloon station project, covering 13.96 hectares, will create a new urban centre on the West Kowloon reclamation area. Its size will be similar to the existing commercial and residential district in Tsim Sha Tsui East. MTRC property director Thomas Ho said the project would also comprise an extensive road network, served by the West Kowloon Expressway, Jordan Road Extension. A public transport terminus and a cross-border coach terminus would also be provided. About three hectares of government and community facilities are included in the revised plan, including a post office and public open space as well as a community centre.