Hong Kong's Wen Wei Po (Reporter Ngan Lun Lok) Hip Shing Hong Group of Companies first live chemical building project 'Genesis' opened yesterday. The project is located in Wong Chuk Hang,Managing Director Fong Man Hung said the project within three years to spend more than HKD $2.0 billion for activation, with a total of 240,000 square feet of floor and will set aside 10 percent, or 24,000 square feet to support young artists, entrepreneurs and other non-profit organizations,including the Hong Kong Arts development Council 'ADC Art Space Programme' was responsible for a third of the market rent to the 12th floor leased approximately 10,250 square feet of floor whole layer.
Fong Man Hung said that except for Hong Kong Arts Development Council, the Hong Kong Federation of Youth Groups in the last week to implement the same concessions to rent 8,254 square feet of floor and work together to promote youth entrepreneurship, in addition TWGHs will rent ta 2,000 sq ft unit as a young professor videotaping technology workshops.The building also have air-conditioned 'vertical gallery' to let the artists can show different themes produced in the promenade for tenants and the public to visit.
Hip Shing Hong Group of Companies cooperate with HKADC and HKFYG
Painter Brian Sze rent one studio,with an area of about 600 square feet. He said in the same area had also rented industrial buildings,but the future railway in Wong Chuk Hang which cause the rents rising,600 feet with HKD $7,000 rental, the rents fell to HKD $3,600 recently.Another 'woodworking' artist Ting Lok Yang,also in the same area with the rent of HKD $3,200 for a studio,after moved to Genesis, studio area expanded to 580 feet, but the rent is only HKD $3,100.
Hip Shing Hong Group of Companies is currently working with the Hong Kong Arts Development Council, the Hong Kong Federation of Youth Groups signed a total of six years,'died contract',every two years slightly raised the rent and lease the artist for about 2 years. Because part of the floor of the decline in rental income, payback forecast project also longer, about 8 to 9 years. Excluding the 10% of the floor and the remaining 90 percent in recent months have been leasing, rent levels by about HKD $15-HKD $18,currently leased to 20% tenants, including a number of international brand handbags.
Genesis with 22-floors,18 layers for office, 4th floor for retail floor, attached to more than 30,000 square feet in the lobby and clubhouse. Unlike ordinary commercial buildings,building has childcare services,a fitness room and other facilities, emphasizing 'balanced life'.
Spent more than HKD $2.0 billion to renovate fortune land
As the first industrial buildings revitalization projects of Hip Shing Hong Group of Companies,David Fong said that between the government and also the run for a long time, including the number of parking spaces and so on. And this building is also full of original industrial buildings lined the history of the Association fortune,Hip Shing November 1952 on government land auctions to HKD $2 per sq ft price to purchase the lot for Hip Shing first building purchased land, land to build factories thereafter due to the decline of the rubber plant, demolition and built 'Best-View-Court' in the 1980s,in 2012 and then expand the activation of engineering, today turned into a 'Genesis'.
Hip Shing Hong Group of Companies also have another industrial buildings development project, located in No.27 Hing Yip Street, Kwun Tong, has been demolished, but decided to industrial or commercial development, because in recent years, many businessmen from Guangdong reflux and opened factory,is a high value-added processes,so the internal of the company is still discussing the development direction.
As for Le Riviera in Shau Kei Wan which developed by Hip Shing Hong Group of Companies,have sold 70% and the remaining 30% will put up for rent, rental units will take part renovation, rent level of about HKD $55.As for boutique hotel which located in Hollywood Road, Sheung Wan, plans to open this year in August,with a total of 38 rooms.
