Chinachem Group is building a $6.5 billion luxury residential development in the shape of a lily at 129 Repulse Bay Road, Repulse Bay. The vertically curved development, designed by architect Sir Norman Foster, will become Chinachem's flagship residential property for lease. Sir Norman has been involved in many large-scale commercial and infrastructure projects and is the design architect of the Chek Lap Kok airport and the HSBC building in Central. The yet-to-be-named Chinachem project will comprise four 24-storey towers above a six-level podium. It provides 184 units measuring between 1,500 square feet and 2,500 sq ft each and 296 parking spaces. The development will also have a 30,139 sq ft residents' club. Chinachem believes this is Sir Norman's first large-scale residential project. Occupying a site area of 113,775 sq ft and overseeing Repulse Bay, the building will be 95.5 metres high, above the Repulse Bay Road level at the site entrance. Chinachem group beat nine bidders to win the Repulse Bay site for $5.5 billion in the first government land auction after the 1997 handover. The estimated construction cost of the development is $3,000 per square foot, or $1.02 billion. This would bring the total investment cost to about $6.5 billion, including the $5.5 billion land cost. The development is scheduled for completion by the end of 2001 or early 2002. The group is now undertaking the site formation, said to be the most difficult part of construction. It is due to be completed in June. The building's curved shape was not only for aesthetic purposes, but also to enhance the project's energy efficiency and to maximise views of the bay from the building, a Chinachem source said. To keep the building balanced, a vertical section had been chosen for the curve so that there would be as much building weight leaning outwards as backwards, the source said. The curve has been made as pronounced as possible within the practical limitations.