Chinachem Group and Hysan Development Win Tender for Caroline Hill Road Commercial Project
Chinachem Group (the Group) is pleased to announce that it has successfully won the tender for the commercial site at Caroline Hill Road in partnership with Hysan Development Company Limited (Hysan). This will be the first project collaboration between the Group and Hysan. The Group will bring its extensive development expertise and deep understanding of the commercial market to the development and management of the project.
Donald Choi, Executive Director and CEO of the Group said, “This is a rare large-scale commercial project in the heart of the city. We are excited to have this opportunity to partner with Hysan, the most experienced developer in the district, to develop this project. The project will have synergy with Hysan's other Lee Gardens developments and the long-term prospects are encouraging. In addition to retail and office space, the project will provide community facilities and public open space, which will create shared value for society and demonstrate the Group’s Triple Bottom Line of people, prosperity and planet.”
Site area of the project is 160,000 square feet. The maximum gross floor area is around 1.07 million square feet. Community facilities to be provided will include a childcare centre, an elderly day-care centre and a district health centre, totalling over 20,000 square feet in area. A public open space of over 65,000 square feet will also be created within the site, providing more comprehensive facilities and support to the community.