Thursday, October 2, 2008

Island Resort (Hong Kong)

Island Resort is a high-rise complex located in the Siu Sai Wan district of Hong Kong. The complex contains four towers, each of which rises 60 floors and in height; although the property is classified as containing nine towers, real estate data company Emporis ranks the complex as only four skyscrapers, as several are interconnected. The entire complex began construction in 1999, and was completed in 2001. The buildings are composed almost entirely of residential units, with a total of 3,098 apartments; the lowermost floors are used as and restaurant space.

The land on which the Island Resort complex is situated holds the distinction of being the most expensive in the city; in 1997, prior to the transfer of sovereignty of Hong Kong, the Sino Land Company purchased the piece of land for 1,515,384,620 in order to develop the Island Resort complex. The purchase was the last major land sale in Hong Kong that took place while the United Kingdom was still in control, and was also the most expensive land transaction in the city's history.

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