NWD unveils HK$20 billion real estate project
Standing next to the airport, 11 Skies will be the city’s largest retail, dining and entertainment hub with three Grade-A office towers
23 Nov 2020 | The Asset

New World Development unveiled on November 23 its HK$20 billion (US$2.58 billion) mixed-use development project right next to the Hong Kong International Airport. Called “11 Skies”, the brand-new landmark will be the city’s largest hub for retail, dining and entertainment, and the first to combine wealth management and wellness services.

To be managed by mall operator K11, the complex has a gross floor area of 3.8 million square feet, including 2.66 million sq ft for dining and retail outlets, 570,000 sq ft for entertainment facilities, and 570,000 sq ft for grade-A office space. It will house more than 800 shops, including more than 120 dining concepts.

The development has already attracted anchor tenants including Bank of China (Hong Kong), Citibank, Standard Chartered, FTLife Insurance, and Trinity Health Enterprise.

The project will take advantage of its strategic location – being next to the airport, the Hong Kong-Zhuhai-Macao Bridge, and the Tuen Mun-Chek Lap Kok Link – to provide connectivity to the Greater Bay Area. It stands to benefit from the high volume of passengers who travel through the airport, which recorded 71.5 million last year, and the 72 million people residing in the GBA.

The complex is envisioned to become both a centrepiece within the GBA “one-hour living circle” and a gateway to the rest of the world, according to New World. Passengers can arrive at 11 Skies several hours before they board the plane to enjoy its many restaurants, shops and entertainment venues.

There will be three grade-A office towers at 11 Skies, each of which is intended for a specific purpose: one for wealth management services such as insurance and asset management, another to focus on wellness and medical services, and another for companies and organizations seeking to establish their GBA business centre there. The 570,000 sq ft office space is expected to be completed by 2022. 

KidZania, operator of family entertainment centres in 27 locations worldwide, will also establish its first “scaled indoor city” in the GBA at 11 Skies. The centre, which will start operation by 2023, will provide “an immersive, fun and interactive role-play learning experience for children aged 1-14”.

The complex will also be home to SkyTrack, the world’s longest indoor and outdoor karting track, with electric-powered karts and AR-enabled interactive control.

Adrian Cheng, chief executive officer of New World Development and founder of K11 Group, notes: “11 SKIES will be a game-changer for Hong Kong and the Greater Bay Area. It is the first project that comprehensively combines retail, dining, entertainment, together with wellness and wealth management in one complete ecosystem for people in Hong Kong, Greater Bay Area and the rest of the world.”

He also notes that the development “will create thousands of job opportunities as well as give birth to new business opportunities in key sectors which can leverage the unique connectivity, ultimately providing a new impetus for the long-term growth”.

The development will open in phases from 2022 to 2025.