New World Development (0017) said it has leased out all the spaces at Artisan Hub , a revitalization project in San Po Kong, for an average price of HK$23 per square foot, a new high for similar projects in the region.

The rental market in the core business district of Kowloon East experienced a boost, thanks to the favorable impact of the "Kai Tak effect."

Artisan Hub is a retail-commercial building that has been transformed from a traditional industrial building located at No 9 Luk Hop Street.

With a total gross floor area of around 64,434 sq ft, Artisan Hub stands as an 11-story building.

The property has been primarily designated for retail and commercial purposes, catering to market conditions and demand.

Recently, the Inter Academy Hong Kong has leased a mid-level, full-floor space measuring approximately 5,564 sq ft in Artisan Hub .

Meanwhile, Hip Shing Hong unveiled the first price list of Oria in Shau Kei Wan, offering 50 units at an average price of HK$23,042 per sq ft after discounts.

The first batch of 50 flats comprise 32 studios, 14 one-bedroom and 4 two-bedroom units. The areas of these flats range from 220 to 456 sq ft.

After factoring in the maximum 9 percent discount, the actual prices of these flats range from HK$4.79 million to HK$11.39 million.