Project go-ahead for Repulse Bay
Emperor International Holdings plans to spend HK$500 million developing, the Lido Complex, a retail project at Repulse Bay.
Executive director Tony Tse Wai-chuen said the project could go ahead at full speed now that ownership of the site was finally unified.
Many shops in the commercial and shopping complex had different owners and it took the developer more than five years to acquire them all individually.
The last shop was bought from the McDonald's group for HK$36.8 million two months ago.
Mr Tse said the final property transaction would be completed at the end of November, meaning ownership of the entire site would then be in the developer's hands.
Two years ago the company received Town Planning Board's approval to build a three-storey retail mall on the site.
Mr Tse said the project would still need some amendments in relation to its appearance and designs.
There were plans to incorporate some unique designs and creative ideas in the 49,500 square feet project.
'We hope this will be our landmark retail complex in Repulse Bay,' he said.
Various types of glass would be used throughout the ground floor of the complex to enhance its sunny aspect.
The use of glass also could form visual paths to the beach views.
'It would be a waste if it is developed into an ordinary shopping mall. We think people should enjoy the beach views while shopping inside the building,' Mr Tse said.
Materials used in other parts of the building would create a 'cyber-style' impression.