Indian billionaire Ambani’s vertical villa inspires Hong Kong Mid-Levels property
- K Wah International and Chuang’s Consortium International have unveiled plans to build an eight-storey home at the Mid-Levels in Hong Kong
- The 44,388 sq ft project at 28 Po Shan Road will be offered on a turnkey basis
Two developers are bringing the personal skyscraper, or at least a miniaturised version of the latest must-have of Indian billionaires, to Hong Kong, with plans for an eight-storey, vertical villa at Mid-Levels.
The building will have 44,388 sq ft (4,123 square metres) over eight floors, complete with a 4,446 sq ft garden and 2,197 sq ft roof terrace, according to its building plan. Proposed features include six-metre ceilings on the entertainment-dining floor, and six floors of residential suites with ceilings at least 3.5 metres tall.
“Any buyer for this property is coming from a special background, while seeing the project as a trophy asset and not looking to resell in the short term,” said Martin Wong, director and head of research and consultancy at Knight Frank. “This project is unique and scarce in the market, while requiring a lot of capital, it is believed its market appeal is not set for typical Hong Kong consumers.”
Vertical villas are all the rage among India’s wealthiest. Mukesh Ambani’s Antilia is a US$2 billion personal skyscraper standing 27 stories tall in one of Mumbai’s most expensive neighbourhoods. It has a room that blasts out snow flakes, an in-house temple that fits 50 worshippers, three helipads and six floors for Ambani’s luxury cars, all attended by 600 staff.
Not to be outdone, the Raymond Group’s chairman Gautam Singhania has the 30-storey JK House in south Mumbai, a nod to the roots of one of India’s largest conglomerates. The mansion comes with the mandatory pool, spa, helipad and recreational area, with five floors reserved for the textile tycoon’s very considerable car collection.
The vertical villa would be a first in Hong Kong, the world’s most expensive urban centre for many years running, where the wealthiest residents have opted for sprawling bungalows in exclusive neighbourhoods instead of high altitudes.
K Wah and Chuang’s can only sell their Po Shan Road project as a single detached house, or two semi-detached residences, according to the lease agreement of the site.
A home with the size and price tag of the proposed vertical mansion is most likely going to grab the attention of a buyer from mainland China, said Koh Keng Shing, chief executive and founder of Landscope Christie’s International Real Estate.
Despite the kingly sums, there is a niche market for these type of projects among buyers who want highly personalised “dream home” specifications from conferencing areas to KTVs, indoor gym and pools, Koh said.