An exciting combination of leisure and entertainment, sports, tourism, commerce and residenceto build a new chapter for Hong Kong HONG KONG, July 13, 2022 /PRNewswire/ -- In line with Hong Kong Government's implementation of "Energizing Kowloon East", nine property developers, namely Chinachem Group, China Overseas, Empire Group Holdings, Far East Consortium, Henderson Land, K. Wah International, New World Development, Sun Hung Kai Properties and Wheelock Properties (listed in alphabetical order), have formed a non-profit private company - "Kai Tak Runway Private Development Company Limited" (Company),pledging a common visionfor Kai Tak Runway's long term development and transformingKowloon East into Hong Kong's second CBD. As a part of the "Energizing Kowloon East", the Company will proactively cooperate and solicit with different stakeholders and Government departments through public-private partnerships to reinforce long-term core values and confidence in future developments, enhancing Hong Kong's overall quality of life, and jointly thriving for building a brighter future for our city. Adhering to the common vision of developing Hong Kong's second CBD in Kowloon East and building a high-quality living environment, the Company integrates the developments of nine property developers on the Runway to create a brand new comprehensive and diversified destination in Hong Kong - Park Peninsula, located on the unique and exclusive waterfront area of the former Kai Tak Airport runway. Surrounded by Hong Kong's largest green and recreational area of approx. 450,000 sq.m., Park Peninsula proudly floats in the middle of the sea, like a park on the ocean and with the rare world-class waterfront, adjoined by 3 shore-lines, further reinforcing the unique setting of the only green area floating on the Victoria Harbour. An exclusive area in Hong Kong combining leisure and entertainment, surrounded by land and sea Park Peninsula, with the objective to offer a sustainable, green, leisure and entertaining living experience, brings a unique combination of land and sea, redefining a new comprehensive and diversified destination in the vibrant and cosmopolitan Hong Kong. Surrounded by approx. 450,000 sq.m. of green and leisure areas - including Metro Park, Kai Tak Sky Garden, Kai Tak Cruise Terminal Park, Kai Tak Runway Park, Kai Tak Sports Park to name a few - it is Hong Kong's largest green area, that is 2.3 times larger than Victoria Park. Closely located to the approx. 2.4km-long Kai Tak River, Park Peninsula will feature an incredible approx. 11km-long waterfront promenade and approx. 13km-long shared-use path for pedestrians and cyclists bridging the Kwun Tong Typhoon Shelter and the adjoining areas for the public to savour and indulge in an extensive space for relaxation while enjoying the breath-taking views. Bringing together the very best in sports, medical care, hotel, tourism and commercial complex in sight to Hong Kong Encompassing the world-class sports, hotel, tourism and commercial facilities, Park Peninsula is strategically located next to Kai Tak Water Sports Center which provides a wide range of water sports, such as rowing, kayaking, dragon boating, etc. With over 5.75 million sq.ft. of commercial gross floor area in Park Peninsula, and adding the adjoining commercial area neighboring Kai Tak MTR Station, the area features the longest "underground shopping street", the biggest retail complex "SOGO in Twin Towers" and the largest outdoor multi-purpose "Kai Tak Sports Park". Accompanying with the well-equipped Hong Kong's Children Hospital, Park Peninsula embodies the foremost complex development in Hong Kong. In addition to the major shopping malls in Kai Tak City Centre, the Waterfront Promenade on the Runway will also provide various leisure, dining and retail shops bringing a unique waterfront alfresco experience. The Kai Tak Cruise Terminal and commercial area adjacent to Park Peninsula helps drive Hong Kong's economic development by providing job opportunities and hosting an array of world-class entertainment events that create a dynamic and energetic urban environment. Multi-modal transportation connecting a privileged and comfortable residential area to all major districts Park Peninsula will be equipped with a "multi-modal" environmental-friendly linkage system extending in all directions, featuring elevated walkways with travellators, cross-harbour pedestrian and cyclist bridge to connect Park Peninsula and the two core hubs of Kwun Tong and Kowloon Bay, with the additional support of networks of buses, minibuses and other transportation facilities. Runway Park Pier is also planned to become the pick-up and drop-off point for water taxis connecting Central, West Kowloon, East Tsim Sha Tsui, Hung Hom and Kai Tak providing convenient, fast and direct transportation services. As the one-and-only 3-shore-line oasis floating on the Victoria Harbour with unbeatable sea views, Park Peninsula is an approx. 450,000 sq.m. of green and leisure area that brings a privileged and comfortable world-class waterfront lifestyle to Hong Kong. Park Peninsula is set to become Hong Kong's most exclusive, comprehensive and diversified new destination integrating leisure and entertainment, sports, hotel, tourism, commercial and residential elements. Remark: 1. The above rendering is only an artist's impression of the district concerned and its buildings, facilities and surrounding environment, and is not intended to and does not reflect the actual location, height, orientation, external appearance, view, facilities or status of any development, buildings or facilities and their surrounding buildings and environment. This rendering has been edited, processed and simplified with computerized imaging techniques, and is not drawn to scale. The rendering may have shown different proposed or uncompleted developments, buildings, facilities and/or infrastructure. Their details (including but not limited to whether their construction will be committed and if committed, their names, locations, designs, distances and completion dates etc.) shall be subject to the final decision of the development or the relevant authorities, and if completed, their details may also be different from as shown in this rendering. The environment, buildings and facilities of the district concerned may change from time to time. This rendering is for reference only and is not purported to promote the sale of any first-hand residential property. Readers should not rely on this rendering for any use or purpose whatsoever. This rendering does not constitute and shall not be construed as constituting any express or implied offer, representation, undertaking or warranty (whether related to any development or any view). Readers are advised to conduct an on-site visit and check relevant information accessible by the public for a better understanding of the environment, public facilities and future development of the district concerned. SOURCE Kai Tak Runway Private Development Company Limited