Annual Report 2024

41 2024 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”), jointly 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. The Millennity provides Grade-A office space with a total gross floor area of approximately 650,000 square feet. It consists of two 20-storey towers which sit on top of a large shopping mall in a 10-storey podium, featuring approximately 500,000 square feet of leisure-oriented retail space. Nearly 400 parking spaces will be provided in a four-storey parking garage in the basement, a number of which will be equipped with electric vehicle charging systems. The development achieved LEED Platinum pre-certification and WELL Platinum pre- certification, and was awarded a Platinum pre-certification for new buildings under BEAM Plus. In December 2022, two SHKP’s subsidiaries, 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 of The Millennity respectively for a term of three years until December 2025. The Millennity completed the construction of its two office towers in 2023. Several tenants have already moved in and commenced operations. The podium mall beneath The Millennity is currently under construction and is scheduled to be opened in 2025. Scheduled to be opened in 2025, the 10-storey podium mall at The Millennity is set to become another major landmark in the area