The scheme, which includes more than 1,500 homes, has an estimated construction cost of over HK$1bn (£81m) and will offer long-term leases for apartments ranging from 50m2 to 80m2 at a fixed, up-front price.
The development is being delivered in two stages in the North Point area of Hong Kong Island. The first at Tanner Hill, comprises three 30-storey high-rise towers with a total of more than 500 homes to be completed during 2015. The second stage, at Tin Shui Wan, will deliver a further 1,000 dwellings by 2016.
The development is intended to provide residents with the freedom of independent living with the comfort of services and amenities. Each site will include health centres, recreational facilities including indoor swimming pools and a range of retail and service outlets.
“We are very pleased to be involved in this one of a kind scheme,” said Sweett Group’s project director Jill Kennedy. “What sets this project apart from others is its pricing structure, which takes into account a resident’s age and requirements to provide a high level of standard and service – all in one convenient location and at a fixed cost.”
“The Tanner Hill and Tin Shui Wan developments are setting a standard for the provision of retirement living in Hong Kong, a city that is expected to see significant demographic shift over the next 20 years,” said CF Wong, director at Sweett Group in Hong Kong.
Got a story? Email news@theconstructionindex.co.uk
