30/5/2018-10

Large-scale commercial building in the area is increasing

The consortium acquired the Hai Palace Mansion in Causeway Bay at a high price because of the commercial and retail prospects in Causeway Bay. However, the lack of new commercial supply in the area requires the redevelopment of the old building through mergers and acquisitions. The successful development of the Cannon Street area through acquisitions in recent years has been at Tower 535 in Jaffe Road. The private equity fund Winterthur Real Estate purchased the Central Building Property Rights from the Tiansheng Group in 2010 and later developed into a Grade A office building and retail complex project. Tenants such as co-workingspace WeWork.