Island life
We catch up with property developer Michael Cassidy, a director with MacauLand Developments, to talk about the company’s latest luxury project Aqua 33 in Pokfulam
Record low interest rates mean that developers are lining up to release new projects, and interest is high both among first-time homebuyers and those looking to trade up. This issue we take a closer look at Aqua 33, a luxury development in Pokfulam, slated for completion in March 2010.
www.squarefoot.com.hk (SF): Michael, thanks for sitting down with me to give the low down on your new project, Aqua 33.
It’s a catchy name and from the website it promises to be a very special building. Tell me a bit about the name and the project. What is Aqua 33 all about?
Michael Cassidy (MC): The concept behind Aqua 33 is all about healthy living and eco-friendly lifestyles. Aqua 33 is a unique low-density, low-rise development in Pokfulam – just 42 luxury apartments set around a beautiful courtyard. Owners will enjoy open sky, ocean breezes and open space that you simply don’t get in, say, Mid-Levels. In fact, a third of the apartments have private roofs, which in most cases are as large or larger than the apartments themselves.
We picked the name Aqua 33 as a play on the Latin word for water as well as the subtle blue colour of the building’s architectural details. The ‘33’ references the building’s street number, which happens to be a lucky number in Chinese feng shui.
SF: You just mentioned that the development is ‘eco-friendly’. There’s a lot of talk these days from developers about the environment. Can you list some of Aqua 33’s eco credentials?
MC: We’ve focused a lot of attention on reducing energy consumption, which is not only good for the environment but also good for owners’ wallets. We’re installing extensive insulation throughout the building and all appliances are rated Class A for energy efficiency. The air conditioners use inverter heat pump technology, which is the most energy efficient available on the market. These heat pumps also provide heat in the winter so you can avoid using space heaters, which are hugely wasteful.
We’ve also installed the best water-filtration system available on the market in every apartment – it’s healthy and eliminates the carbon footprint, cost and plastic waste of imported bottled water. We’ve selected bamboo flooring, which not only looks great and is hard wearing, but doesn’t destroy mature forests as does hardwood flooring.
SF: Should we expect the same high level of quality in the fixtures and finishes as you built in The Manhattan, Macau?
MC: Of course! We’re using a full Siemens kitchen with custom piano lacquer Verona cabinetry and top-of-the-line fixtures and finishes – a real chef’s kitchen. We even have a built-in wine refrigerator. Bathrooms are Duravit, Teorema, Vitra and Hansgrohe – all top of the line.
We also use top-quality ‘behind-the-walls’ as well – things that buyers will never see. For example, most low-rise buildings simply tap the main water line and get adequate pressure. But everyone loves a strong shower, so we’ve invested in a pressurization system which will double the average water pressure that most buildings have. We use copper pipes instead of plastic for fresh water, optical fibre instead of cable for internet – I could go on but you get the idea.
SF: We’ve been hearing from agents and owners about the consistently strong level of demand for Pokfulam apartments recently. To what do you attribute this trend?
MC: Pokfulam has really caught on in the past several years as people have discovered the great quality of life available there. It’s the place to be for young families or anyone who appreciates clean air and a sunny outlook. Pokfulam has the best micro-climate in Hong Kong. It’s close to a lot of hiking trails, right on the waterfront, and without the dense high-rises of most of Hong Kong Island.
Buyers and tenants alike are flocking to Pokfulam for the South-side weather and space, but without the Repulse Bay prices. It’s fantastic value-for-money. Also, with the growth of West Kowloon’s office market and move by many banks to the International Commercial Centre (ICC), the commute for bankers living in, say, Repulse Bay or even Mid-Levels has grown tremendously because they have to fight the traffic through Central. You can drive from Pokfulam to the ICC in less than 15 minutes during rush hour. Try getting there in under 45 minutes from Repulse Bay or beyond.
SF: What do most people not know about Pokfulam?
MC: Let’s see – it’s closer to Central than just about any other residential area on the South-side. It has the best public sports facilities of any district in Hong Kong, even horse riding stables. And best of all, the cost of real estate is 30 percent lower than in Mid-Levels.
SF: I had a look at your website (www.aqua-33.com) and am impressed with how different the architecture is compared with most Hong Kong developments. What was the inspiration for the overall design?
MC: We believe that there’s an untapped demand for unique, contemporary architecture that you can find in standalone homes for instance on the Peak, but at a much more affordable cost. Buyers want an alternative to the repetitive ‘architecture’ of the typical cookie-cutter high-rise Hong Kong development… whether it’s a luxury building in Mid-Levels or a mass-market estate in the New Territories, you get basically the same cruciform layout, the same bay windows to boost the ‘efficiency’, the same overdone faux-European interior designs.
We want to offer a stunning living environment that embodies the high quality of life which Pokfulam has on offer, and to do so at an exceptional value. We’re building something which we would enjoy living in: cool, contemporary design, flexible and liveable layouts, and environmentally sustainable construction.
SF: What’s the profile of your typical buyer?
MC: Our typical buyer is anyone who appreciates clean and healthy living, from young families to professional couples, who work in Central or West Kowloon but don’t want urban congestion or a long commute. It takes less than 10 minutes to get to Central from Aqua 33.
SF: Where will prices come in for Aqua 33?
MC: Prices will start in the low HK$8,000’s per square foot. Showflats should be available for viewing this September, and the project will be completed in March 2010.
| FAST FACTS |
|
| Development: |
Aqua 33 |
| Location: |
Pokfulam |
| Developer: |
MacauLand Developments |
| Site area: |
25,211 square feet |
| Gross floor area: |
73,765 square feet |
| No. of units: |
42 |
| No. of parking spaces: |
42 |
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