Annual Report 2023

41 2023 Annual Report Transport International Holdings Limited KT Real Estate Limited (“KTRE”) KTRE, a wholly-owned subsidiary of TIH, and Turbo Result Limited (“TRL”), a wholly-owned subsidiary of Sun Hung Kai Properties Limited (“SHKP”), own The Millennity in equal shares as tenants in common for long- term investment purposes. The property is located at No. 98 How Ming Street, Kwun Tong, Kowloon. The Millennity, a premium integrated commercial project strategically located in the heart of Kwun Tong, is close to Kwun Tong and Ngau Tau Kok MTR stations. An occupation permit was obtained in November 2022. The Millennity provides Grade-A offices with a total gross floor area of approximately 650,000 square feet. It consists of two 20-storey towers and a large shopping mall situated on a 10-storey podium covering leisurely retail space of approximately 500,000 square feet. Ample parking spaces are available, all equipped with electric vehicle charging systems. The property project has achieved LEED Platinum pre-certification and WELL Platinum pre-certification. It has also been awarded a Platinum pre-certification for new buildings under BEAM Plus. In December 2022, two subsidiaries of SHKP, Sun Hung Kai Real Estate (Sales and Leasing) Agency Limited and Kai Shing Management Services Limited, were appointed as the marketing and leasing agent and the property manager for The Millennity, respectively. During the year, The Millennity completed the construction of its two office towers. Some tenants have already moved in, commencing their operations. The podium mall beneath The Millennity is still under construction and is scheduled to have its grand opening in 2024. LCK Real Estate Limited (“LCKRE”) LCKRE, a wholly-owned subsidiary of TIH, is the owner of the Group’s headquarters building in Lai Chi Kok. LCKRE owns the 17-storey commercial office building at 9 Po Lun Street, Lai Chi Kok, Kowloon, which has a total gross floor area of about 156,700 square feet. The building is situated next to Manhattan Hill. Approximately 12% of the lettable area is used by the Group as headquarters while the remaining area is leased out to offices, shops and restaurants. The Millennity has completed the construction of its two Grade-A office towers, and some tenants have already moved in and commenced operations