Siu Hei Commercial Centre Awarded Bronze Honor for Best Urban Regeneration Project at 2021 MIPIM Asia Awards

HONG KONG SAR – Media OutReach – 10 December 2021 – Siu Hei
Commercial Centre, a project managed by People’s Place, in Hong Kong’s Tuen Mun
District, was awarded the Bronze Honor in the Best Urban Regeneration
Project category of 2021 MIPIM Asia Awards in Hong Kong on December 8. The
awards commend APAC’s most outstanding real estate projects and are a highly
regarded benchmark for showcasing achievement in the property industry.

Inspired by
the theme “Smile & Laughter”, the 36-year-old Siu Hei Commercial Centre was
transformed to a vibrant community hub, welcoming young and old visitors around
Hong Kong. The once obsolete dry market is now a Food Street which brings
together diverse dining options that embody the spirit and tastes of local
community. The former roof space has been refashioned into a multi-purpose
sportsground to cater the community’s recreation needs. With intention of
creating public spaces that promote health and happiness, we engaged nearby
schools and non-profit organizations to re-imagine and co-create a space for
the community.

The vibrant
community hub in Siu Hei has demonstrated Gaw Capital‘s effort in building
sustainable communities through diversification of tenant mix and the
implementation of community initiatives. During the renovation process, we have
been extensively engaging the community and collecting feedbacks from our
stakeholders to adopt a bottom-up user-driven approach. In response to the
rising demand for improved facilities and more diverse retail and dining
options, we have done a complete reshuffle of trade mix, bringing in an
air-conditioned Food Street which offering various dining options and a modern,
hygiene fresh market which provides the community with daily necessities.

Kenneth Gaw, Managing Principal and President of
Gaw Capital Partners, commented, “I would like to express
my gratitude to the judges for giving us great acknowledgement on this project
as well as our team’s dedication in making this project a great success. This
honor is a notable vote of confidence in Gaw Capital and our strong track
record of successful investments and asset management in commercial properties
in need of repositioning and redevelopment. The project vision is to bring joy
and happiness to the community. A complete transformation has made Siu Hei
Commercial Centre a well-facilitated community hub with diverse retail and
dining options. The under-utilized rooftop space has been uplifted to an
energetic sportsground where residents can enjoy playing sports.”

Alvin Lo, Managing Director, Asset Management of Gaw Capital, said, “We are delighted that Siu Hei has been presented with this
Award. It reflects the unique value that Gaw Capital has created to the asset
over years, and our ability to transform a previously underutilized retail and
recreation area into an uplifted, energized, and fully-leased neighborhood
centre which offers varieties, qualities, and fun. We would also like to
express our appreciation to the support from all tenants and the dedicated
effort from our team.”

The MIPIM Asia Awards considers
wide-ranging projects throughout the APAC region of both completed and
in-progress developments.