Jewel shining as towers near peak
JEWEL’S new owners have ruled out selling the hotel component of the $1 billion project, as the rising towers look set to reach their maximum height in a matter of weeks.
Yuhu Group chairman Xiangmo Huang and his son Jimmy Huang visited the site from Sydney this week, also saying they intended to keep the project’s name under their review of the beachfront development.
The three distinctive towers have risen to 35, 39 and 32 levels, with construction set to ramp up in coming weeks as they approach their 40, 46 and 34-floor peaks by August.
The company said it had decided against making changes to bathrooms and the day spa, which were mooted last month, and revealed it plans to reconfigure the project’s communal area, increasing space for bars and shops and incorporating a waterfront gym and indoor pool.
The Huangs were not available for an interview during their visit, but provided a statement saying the bathroom configuration in the hotel tower would be retained “after careful review by the project team”.
Yuhu Group said the changes would not delay Jewel’s mid-2019 completion.
The company plans to relaunch sales “soon” after a four-month hiatus while it worked out a new marketing approach and gained suitable licensing.
Documents lodged on the Hong Kong Stock Exchange showed 40 per cent of the luxury apartments had been sold at the end of December.
Xiangmo Huang described the Jewel’s fundamental design elements as “brilliant” and said he was satisfied with its progress.
Mr Huang said the family saw Jewel as a premium legacy project and would retain ownership of the five-star hotel.
“It is something we are very passionate about and want to be proud of as we plan to be involved here for many years to come,” the statement said.
“Our guiding principle as a developer is ‘built to last’, not ‘built to sell’ and we are also very community-minded and want to fit into the local fabric.”
Jimmy Huang said the company was taking “a meticulous approach” with regard to project finishes throughout and there was also particular focus on delivering the best mix of integrated services and amenities for Jewel residents, hotel guests and the community more broadly.
“We have for example decided to reconfigure and increase the areas for bars and fine dining and we are ready to welcome the world-class retailers into our spaces.
“There will be many great features, including a waterfront gym and indoor pool as part of the spa and wellness centre on level two of the podium with premium hair and beauty salons as part of the overall package,” he said. “We want this to be a place that draws people in, somewhere they will love spending their time.”
The Jewel will also feature a ballroom for up to 800 people, function and meeting rooms, as well as ocean facing outdoor pools and a children’s playground.
Xiangmo Huang said any project enhancements would work within the existing construction schedule which is targeted for completion by mid-2019.
The towers are expected to reach their maximum construction height in August and Mr Huang said the company was planning a community celebration to mark the occasion.