Hong Kong Property Developers Launch New Landmark Buildings

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Last updated at: (Beijing Time) Thursday, November 22, 2001

Hong Kong Property Developers Launch New Landmark Buildings

A 12 million-square-foot integrated property development on top of the MTR Kowloon Station will appear near Hong Kong's famous Victoria Harbor, the Hong KongMTR Cooperation (MTRC) announced Wednesday.

Led by the MTRC, the development was jointly developed by a union of key Hong Kong developers including USI Holdings of Wing Tai Asia, Wharf Group, Hang Lung Group and Sun Hung Kai Properties.

The developers aimed to build a world-class architectural icon and landmark for Hong Kong in the new century. Officiating at the launch ceremony, Edward Cheng, chief executive of USI Holdings of Wing Tai Asia said, "Union Square will receive international recognition comparable to that of the Canary Wharf in London and Pudong of Shanghai."

"As China is the focal point of the world's economy of the 21stcentury, Union Square is equally important as it serves as the gateway to China and to the world," he said.

To be fully completed in 2007, the development will comprise luxury apartments, services apartments, two luxury hotels, 1 million-square-foot indoor shopping mall, 2.5 million-square-foot Grade A office space and 700,000-square-foot landscaped park.

It enjoys the panoramic seaview of Victoria Harbor and convenient traffic to Hong Kong's business center the Central, to the airport, to the Disney Theme Park and to the Chinese Mainland.

Adjacent to the development, a new cultural district was also under-planned.