Chinachem Group has begun leasing Nina Tower in Tsuen Wan and aims to open the flagship office-hotel complex by the middle of next year.
The company intends to price the 350,000 square feet of retail space at between $100 per square foot and $200 per square foot - a level comparable with market rates, property agents said.
For the 500,000 sq ft of office space, the company is asking $16 to $18 per square foot - a 50 per cent premium over nearby Sun Hung Kai Properties' Tsuen Wan Plaza.
'Tsuen Wan is braced for a new face following the completion of a series of redevelopments and we believe there will be huge business potential for Nina Tower's retail space,' said Chinachem sales manager Ng Shung-mo.
The second and third floors will be for retailers catering for mainland tourists. The fourth floor will be for food and beverage operators.
Chinachem had previously held talks with department store operator Lifestyle International Holdings to take retail space in Nina Tower for a new Sogo department store.