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Hang Lung Properties is a truly diversified property development company in that its projects and holdings include residential, industrial, retail and office/commercial properties, and car parks. The corporate policy is to constantly review and analyze the marketability and value of our land bank and property stocks so that adequate but not excessive provisions can be made if warranted. This prudent planning underscores our company’s policies and is a continuing factor in our success. Hang Lung also makes a concerted effort to employ only the top architectural firms to achieve the highest design quality.
Hang Lung’s creative ventures into property development began early on. With the realization that convenience and comfort are important factors in selecting office space and residential dwellings, Hang Lung has constructed numerous properties over Hong Kong’s busy MTR line. In the years spanning 1976-1982, Telford Gardens, comprised of 41 towers with 4992 units in Kowloon Bay was developed on a 24-acre podium above an MTR station. These units came on market beginning in 1977.
The year 1987 saw the inception of MTR Island Line developments - urban, transport connected developments with shopping malls plus social and recreational facilities. Among our properties is the Fortress Metro Tower in North Point above the Fortress Hill MTR Station (54, 800 sq. m. floor area in four 35-storey towers). As well as Park Towers in Causeway Bay, opened in 1989 (61,000 sq. m. above the Tin Hau MTR Station). Along with the numerous properties along the MTR line, other developments like, Amoy Gardens in Ngau Chi Wan, which was constructed between 1979-1987, were developed to an extremely successful response. An astounding 1024 units of Amoy Gardens Phase II were sold out within 6 months. The massive Kornhill project completed in 1987 with all 8852 flats being sold at the same year, is one of Hong Kong’s largest residential commercial developments and demonstrates our comprehensive capabilities.
Our expanding rental portfolio has also proven to be extremely successful. For instance, our Causeway Bay properties boast an occupancy rate of 98%, which has proven Hang Lung to be one of the best in the industry. We also aim to target high density residential towers and high traffic areas, with properties like our Quarry Bay shopping malls, Kornhill Plaza, and the popular tourist attraction, the Peak Galleria.
Luxury residences are also one of Hang Lung’s specialties. We pride ourselves on our residential properties like The Summit on Stubbs Road which has let more than half of its five duplex units, equipped with home automation and state of the art appliances, to top executives of multinational corporations. And our latest jewel, the HarbourSide, above the Airport Express’ Kowloon Station, three blocks of 80-storey luxury residences, has been marketed since the first quarter of 2004 to a very good response – 15% sold at an average price of HK$9600 per sq. ft. These various developments have helped build Hang Lung Properties’ reputable status in the property development industry.
Over the past few decades, Hang Lung Properties has produced various celebrated developments, to view the full list of our properties please refer to our Completed Developments listing.
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