How Lohas Park evolved from a landfill site to a much sought-after residential address
The launch of Wheelock Properties’ Malibu residential project has burnished the image of Lohas Park, although a few problems still need to be ironed out in the area
When people talk about Lohas Park, the first question that pops into their minds is: Does it still smell bad there? The reason: proximity to the southeast New Territories landfill in Tseung Kwan O, which although stopped receiving refuse two years ago, still takes in construction waste.
But Lohas Park’s image, about an hour by MTR to Central, seems to have changed over the past two weeks as buyers snapped up flats in a mass residential development within hours of its launch.
In just four days, homebuyers splashed out HK$9.16 billion (US$1.17 billion) on 1,070 units at Wheelock Properties’ Malibu development near Lohas Park MTR station in the biggest sale so far this year.
The Malibu complex, comprising 1,600 flats, is expected to help turn Lohas Park into Hong Kong’s largest residential enclave, with an estimated 58,000 residents in 21,500 flats, when the project is completed in 2025.
“As the largest land holder in the Lohas Park area, Wheelock helped turn this piece of land into a cash cow,” said Crystal Tam, senior sales director of Centaline Property Agency in Tseung Kwan O.
