Greater Bay Area residents will soon be able to buy wealth management, beauty and medical services from Hong Kong’s 11 Skies complex
- Airport Authority awarded the contract for development and management of the project to New World Development in 2018
- Anchor tenants include Bank of China (Hong Kong), Citibank, Standard Chartered, FTLife Insurance and Trinity Health Enterprise
Greater Bay Area (GBA) residents will soon be able to receive medical services and buy wealth management products at a commercial complex named 11 Skies near Hong Kong International Airport, without travelling to the city centre once the border with mainland China reopens.
11 Skies is a HK$20 billion (US$2.55 billion), 3.8 million sq ft office-retail-entertainment project, comprising three, seven-storey grade A office towers and separate retail and entertainment facilities. The office towers will open in July, and the other facilities in 2024 and 2025. The complex will mainly target GBA residents who live within a one-and-a-half hour drive, according to the developer, New World Development.
“The Covid-19 pandemic has had an impact on construction,” said Larry Leung, vice-president for operations at K11 Concepts, a unit of New World Group that is responsible for project management. “But we still manage to complete the work [for the office site] and keep the budget in check.”
The city’s Airport Authority awarded the contract for development and management of the project to the group’s property arm New World Development in 2018.
Nearly 20 companies from the finance, wealth management, beauty and medical services sectors will open offices at the three office towers, which have a total gross floor area of 570,000 sq ft, said Leung. “About half of the gross floor area [for offices] has been pre-leased,” said Leung, without disclosing the rents payable.
