---
title: "Da Hong Hui applied to convert the Tsuen Wan industrial building into office space, with a current vacancy rate of approximately 50%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/281150066.md"
description: "Da Honghui Group applied to convert the Tsuen Wan industrial building \"Xingfang\" into office space and shops, retaining 564 square feet of retail floor area. The renovation area is approximately 284,400 square feet, and the property currently has an occupancy rate of about 50%. The project aims to make more effective use of underutilized floor space and reduce the environmental impact of demolition. Xingfang was formerly known as Prince Industrial Building, which was purchased in 2018 with a total floor area of approximately 285,000 square feet at an average price of about HKD 4,529 per square foot"
datetime: "2026-03-31T08:08:44.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/281150066.md)
  - [en](https://longbridge.com/en/news/281150066.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/281150066.md)
---

> Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/281150066.md) | [繁體中文](https://longbridge.com/zh-HK/news/281150066.md)


# Da Hong Hui applied to convert the Tsuen Wan industrial building into office space, with a current vacancy rate of approximately 50%

Dahonghui Group has submitted an application to the Town Planning Board to revitalize and convert its industrial building "Xingfang" located at 368 to 370 Sha Tsui Road, Tsuen Wan, into office and retail spaces, while retaining approximately 564 square feet of retail floor space on the ground floor; the renovation involves approximately 284,400 square feet of floor area, while the total floor area of the project will remain around 285,000 square feet.

The group indicated that the property currently has an occupancy rate of about 50% and is not being fully utilized. The proposed renovation will allow for more effective use of the underutilized floor area, and the complete renovation of the existing building will preserve the current structure, reducing the environmental impact caused by demolition work.

Information shows that Xingfang was formerly known as Prince Industrial Building, completed in 1975. Dahonghui purchased it in March 2018 for HKD 1.29 billion, with a total floor area of approximately 285,000 square feet, resulting in an average price of about HKD 4,529 per square foot. The property underwent renovation in 2022, and the building has 24 floors (excluding the 4th, 13th, 14th, and 24th floors), with unit areas ranging from 843 square feet to a full floor of 24,540 square feet. The property was previously leased at a rental rate of about HKD 13 to 14 per square foot

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