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2. Maria Sharapova
1. New World's Kowloon empire falls into place
YVONNE LIU , SCMP 15 March 2006
New World Development has acquired Hiranand House in Tsim Sha Tsui for $250 million, or $7,403 per square foot, a site the developer plans to combine with its nearby Hanoi Road mega project, according to sources.
The 17-storey office building, on the corner of Mody Road and Bristola Avenue, was built in 1976 and provides a gross floor area of 33,768 sqft.
The site has an area of 2,814 sqft and a plot ratio of 12 based on town planning regulations.
The plot ratio can be transferred to the Hanoi Road redevelopment project, which would provide an extra gross floor area of 42,210 sqft for the project.
The redevelopment site is bounded by Hanoi Road, Carnarvon Road, Mody Road and Bristola Avenue.
New World plans to build a 69-storey mixed development project that comprises shopping centres, serviced apartments and a hotel on the site.
The project aims to provide 380 flats and 320 hotel rooms with the apartments coming on the market next year.
The acquisition of Hiranand House increases the gross floor area of the project to 1.29 million sqft.
Hiranand House and Lip Seng Mansion have been the missing pieces in New World's development of the Hanoi Road project.
However, the developer has yet to reach an agreement with the landlord of Lip Seng Mansion.
Chesterton Petty executive director Alnwick Chan Chi-hing said: "The environment of the Hanoi Road project would be much improved if the developer obtained the old buildings next to the project."
It is understood that Chicago-based Global Hyatt Corp is in the final stages of discussions on a management contract for the project.
2. Maria Sharapova
AP Photo/Elise Amendola, 14 March, 2006
Third-seed Maria Sharapova of Russia returns to Shahar Peer of
Israel at the
Pacific Life Tennis Open in Indian Wells, California.
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