Upmarket property offers the high life
East Kowloon has long had a slightly off-the-map feel to it. But that is changing as the neighbourhood upgrades and evolves into something extraordinary.
One sign of change being afoot will soon be evident on Prince Edward Road East, where five waterfront luxury residential towers with 1,159 units are being built.
The Latitude is a luxury residential development in a part of Kowloon that has traditionally been dominated by commercial buildings fanning out from the former airport.
On offer are eight diversified layouts, ranging from one-bedroom units to four-bedroom units. Double suites, a store room and a maid's room are inclusive,
At a height of about 160 metres, The Latitude is one of the tallest residential properties in the area. With expansive views of the harbour, it stands to directly benefit from the excellent appreciation prospects of the projected 'Kai Tak metropolis'.
Amy Teo, project director (sales) of Sun Hung Kai Real Estate Agency, says The Latitude is attracting local and overseas attention from both investors and owner-occupiers.
Explaining the appeal of The Latitude and the kind of demographics the developer is targeting, Mrs Teo said: 'As shown in other international metropolises such as Dubai, Singapore and London, residential properties close to cruise terminals have proven to be great draws for investors.
'Kai Tak metropolis will drive the local economy to new heights, with boundless economic growth potential. The Latitude will become one of the key focus investment properties both for local and overseas investors.'
The public perception of East Kowloon has undoubtedly risen in recent months, and Mrs Teo is sure of the reason.
'Southeast Kowloon is and will be Hong Kong's revitalisation focus in coming years. The Kai Tak metropolis is being modelled on successful international urbanised cities,' she said.
'On the Kai Tak redevelopment blueprint, there will be a state-of-the-art cruise terminal, multifunctional stadiums, a metro park, the Kai Tak museum park on the airport runway, a heliport, waterfront promenades, large-scale themed shopping malls, grade A commercial buildings and an iconic luxury hotel.'
Residential properties enjoying proximity to these developments are certain to be great draws for investors. The Latitude, located strategically by the soon-to-blossom Kai Tak metropolis, will enjoy tremendous growth potential as being one of the focal points of the city's development.
The Latitude's timing is auspicious. The local economy has witnessed a shift of focus in recent years to East Kowloon, the new hub for commercial and business activities. This has been reflected by the remarkable popularity of high-quality commercial complexes such as Millennium City towers and mega-malls such as apm in Kwun Tong.
Another major selling point of The Latitude is its accessibility. Located at the heart of a transport hub, the development is expected to feature an elevated landscaped walkway directly linked to the Kai Tak MTR station. Travel time between the two points will be about six minutes.
Once this new section of the MTR is operating, The Latitude residents will enjoy direct access to Central and Sha Tin, along with the Lo Wu and Lok Ma Chau border checkpoints.
Moreover, the proposed Route 6 will vastly reduce travelling distances between the eastern and western sides of Kowloon, a peninsula that is definitely on the rise and determined to reinvent itself.
