MTR Corporation today unveiled its flagship retail project ‘Elements’ as the jewel in the crown of Union Square, the largest integrated mixed use development in the world. MTR Corporation is an 81% shareholder in Elements, alongside Sun Hung Kai Properties who hold the remaining stake.
Due to launch in end-2007, construction is well underway for a 1,000,000 square feet upscale yet holistic shopping, wining, dining, entertainment and cultural experience of grand proportions. Drawing its inspiration from nature, the striking Benoy-designed waterfront destination will be an urban oasis comprised of themed zones inspired by the five elements*, creating an exhilarating environment for urbanites.
The vision for Elements is to set new standards in international retailing by seeking out an eclectic, dynamic and creative mix of retailers to gain recognition as Asia’s most innovative conceptual retail experience. Elements will define itself by bringing the best the world has to offer to Hong Kong, attracting many ‘firsts’ to this market and also flagship stores of recognized brands, against a backdrop of unprecedented design.
According to Mr. Thomas Ho, Property Director of MTR Corporation, “Elements will redefine the social landscape of Hong Kong. Its eclectic, dynamic and creative approach to retail, dining, leisure and entertainment will make it an international example of excellence and add a quality offering to the life of the people of Hong Kong.”
Mr. Thomas Kwok, Vice Chairman and Managing Director of Sun Hung Kai Properties, joint venture partners in the development of Elements, commented, “This is one of the most important projects we have ever been involved in, and is a very substantial investment in the future of Hong Kong. It will incorporate many notable firsts for Hong Kong and Asia and redefine the profile of West Kowloon and Tsim Sha Tsui as a whole. Standing at 118 storeys tall, International Commerce Centre will be the territory’s tallest building and the world’s third tallest, with Hong Kong’s first downtown observation deck offering unparalleled views of the city. Together with Two IFC on the opposite shore, it will form a stunning Victoria Harbour gateway reinforcing Hong Kong’s status as a focal point for international business.”
Miss Betty Leong, Chief Retail Development Manager of MTR Corporation who is spearheading the leasing and marketing of Elements also added, “A nature- inspired lifestyle destination will present a new proportion to the retail market in Hong Kong. Nature will permeate every aspect of Elements, bringing the outside in and promoting a relaxing and bonding “shopping in the park” experience.”
Elements is founded upon a solid business case. Six thousand families earning ten times the average monthly Hong Kong salary will reside at Union Square’s luxurious apartments. This number will swell during weekdays to include the 30,000 executives who will work at Union Square’s premium office tower, International Commerce Centre (ICC). Business will also be generated by visitors to ICC, the future West Kowloon Cultural District (WKCD) and guests staying in the world-famous ‘W Hotels’ and the world’s highest The ‘Ritz-Carlton’, together with population from the extensive catchment area of Elements.
Strategically placed at the epicenter of a transport hub, Elements will be easily accessible from different parts of Hong Kong for both locals and for the 23 million tourists that visit Hong Kong each year. Elements will be served by an extensive transportation network, including the Airport Express, MTR Tung Chung Line, cross border coaches, buses, minibuses, and excellent road access to nearby ferry terminals and other parts of Hong Kong. The locational advantage will further be strengthened upon completion of the KCR Kowloon Southern Link connecting both East Rail and West Rail at a single stop, together with the Express Rail Link.
This revolutionary concept is a strong demonstration of MTR Corporation’s commitment to providing Hong Kong with the ultimate in sophisticated high quality urban living. To underscore this commitment, the launch of Elements will be supported by an extensive marketing campaign.
Details of signed up tenants, innovative architectural features and more information on the retail concept will be revealed in due course.
(information provided by the pr company)