May 4, 2018
Tender awarded for Integrated Retail, Dining and Entertainment Development in Skycity
Airport Authority Hong Kong (AA) announced on May 2 that Roxy Limited, a subsidiary wholly-owned by New World Development Co Ltd, has been awarded the right to develop and manage a world-class destination commercial development (Site A2 and A3) in Skycity at Hong Kong International Airport (HKIA). The development is a crucial part of the overall long-term development of HKIA. The award follows an open tender exercise held earlier, which received a number of strong bids from local and international developers and retail operators.
Scheduled to be opened in phases from 2023 to 2027, the development, adjacent to HKIA’s passenger terminals, will provide a maximum gross floor area of 350,000 sq m, with retail, dining and state-of-the-art entertainment facilities tailor-made for visitors and local residents of different ages. Under the agreement, Roxy Limited will design, construct, finance and manage the development, which will be the largest integrated retail, dining and entertainment development in Hong Kong. Total project investment will be approximately HK$20 billion.
Apart from the development, a hotel is being developed on another site of Skycity (Site A1a), for which Regal Hotels Group has been awarded the development and management right earlier. The new hotel is scheduled to be opened in the year 2020-2021.
Skycity occupies approximately 25 hectares of land and is well-positioned to benefit from the customer base of HKIA which served 72.9 million passengers in the past year. The passenger traffic at HKIA is projected to rise to more than 100 million by 2030 with the completion of the Three-runway System. Skycity will also tap into the full potential brought by the Tuen Mun-Chek Lap Kok Link and Hong Kong-Zhuhai-Macao Bridge that will greatly enhance the connectivity of the Skycity not only within Hong Kong, but also the Pearl River Delta.