Todd Bishop
The Empire Group announced that it has appointed the InterContinental Hotels Group to operate the hotel part of the redevelopment of the “Seafarers’ Home” building in Tsim Sha Tsui. Yao Zhiwei, executive director of the Empire Group, said that the project investment is 6 billion yuan. The demolition phase has been completed. The foundation project will be carried out within 2 months. It is expected to be put into service in the first half of 2023. The first three years of the project is stable. There is a target turnover.
The empire won the right to rebuild this project last year. Director Guo Jihao said at the press conference that the project was planned by the undead and once choked. The founder of the empire, Guo Bingxiang, passed away in October last year.
The “Seafarers’ Home” is located at No. 11 Middle Road, Tsim Sha Tsui. It will be redeveloped into a 42-story complex with a total gross floor area of 350,000 square feet. The lower level will be used as a seafarers’ club and the 9th to 42nd floors will be part of the hotel. 500 rooms, all with sea views, each with an area of approximately 350 to 400 square feet.
冀 Maintain diversified development
When talking about the intensification of trade friction between China and the United States, Yao Zhiwei believes that the two countries will reach a trade agreement in the long run. Because Hong Kong has a small supply of land, and tomorrow’s plans such as Lantau will take time, the market demand will remain high in a short period of time. Steady development, the trade war will only cause short-term effects, and property prices are expected to rise by 5 to 10% this year. In the tourism industry, with the completion of the Hong Kong-Zhuhai-Macao Bridge and high-speed rail infrastructure, the Guangdong, Hong Kong and Macau Dawan District has formed a one-hour life circle, attracting many visitors to visit Hong Kong and have confidence in the development of the Hong Kong hotel industry.
He continued, the Group will continue to invest in the hotel business. Currently, there are 10 projects on hand, covering an area of 4.5 million square feet, half of which are residential, 30% are commercial buildings, and 20% are hotel projects, hoping to maintain diversified development
