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January 17, 2017

Ocean Park new hotel development contract awarded
Sino Land and Tsim Sha Tsui Properties recently announced that they have jointly won the contract for the development and operation of the planned Fullerton Hotel at Ocean Park through a joint venture. Parkland, the joint venture, is 60% owned by Sino Land, with the remainder held by Tsim Sha Tsui Properties. It is reported that the joint-venture company will together invest HK$3 billion in the project.
     The new hotel, located next to Ocean Park's highly anticipated Water World project, consists of two 14-storey buildings with about 460 rooms is expected to be completed by the middle of 2020.

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