Prosperity REIT

Prosperity REIT listed on the Stock Exchange of Hong Kong in December, 2006. The REIT Manager is ARA Asset Management (Prosperity) Limited, an affiliate of the Cheung Kong Group.

Prosperity REIT owns or partially owns the following commercial buildings:

  • The Metropolis Tower – Office
  • Prosperity Millennia Plaza – Office
  • Harbourfront Landmark (portion) – Office
  • Modern Warehouse – Industrial / Office
  • Trendy Centre – Industrial / Office
  • Prosperity Center (portion) – Industrial / Office
  • New Treasure Centre (portion) – Industrial

The Industrial / Office (I/O) buildings are buildings zoned for industrial use, but built to Office specification, allowing the owner to simply pay a conversion premium at a future date to change the use to pure Office, thereby achieving higher rentals.

The map shows the location of each property and we can see 6 of the 7 are in Kowloon with 4 being located in traditional industrial areas (Cheung Sha Wan, San Po Kong and Kwun Tong).

Center of map
Center of Hong Kong
Prosperity Millennia Plaza
No. 663 King’s Road
Quarry Bay, Hong Kong
Metropolis Tower
No. 10 Metropolis Drive
Hung Hom, Kowloon, Hong Kong
Harbourfront Landmark
No. 11 Wan Hoi Street
Hung Hom, Kowloon, Hong Kong
Modern Warehouse
No. 6 Shing Yip Street
Kwun Tong, Kowloon, Hong Kong
Trendy Centre
No. 682 Castle Peak Road
Cheung Sha Wan, Kowloon, Hong Kong
Prosperity Centre
No. 25 Chong Yip Street
Kwun Tong, Kowloon, Hong Kong
New Treasure Centre
No. 10 Ng Fong Street
San Po Kong, Kowloon, Hong Kong

Prosperity Millennia Plaza is well located in Quarry Bay, adjacent to the Harbour Plaza North Point Hotel and a short distance from Swire’s Taikoo Place office district. Quarry Bay is a major decentralised office district on Hong Kong Island.

Kwun Tong and Kowloon Bay are undergoing a rejuvenation with many grade-A office buildings going up in the area recently. This area will be another major decentralised office district in the coming ten to fifteen years. The Prosperity REIT properties located there may find heavy competition for office tenants with the newly constructed A-grade buildings in the area being of much higher quality and design.