As part of an ongoing commitment to enhance the core properties in its home market, Hang Lung Properties has earmarked about HK$40 million (US$5 million) to renovate Gala Place and Hollywood Plaza in Mongkok.

Hang Lung has been engaged in an asset-enhancement initiative since 2012, progressively upgrading its core properties.

Following the facelift of Grand Plaza, renovation work will start at Gala Place and Hollywood Plaza. The refurbishment covers the façade, elevator lobbies and parking-lot exit, scheduled for completion next year. The Gala Place and Hollywood Plaza renovations take the total of the investments to $240 million.

“Thanks to the strategic positioning of the properties around the concept ‘Where Trends Meet’, which we adopted in 2016, our Mongkok properties have seen a synergistic integration that has yielded outstanding occupancy and rental rates,” says Hang Lung Properties director of leasing and management Bella Chhoa.

“Meanwhile, our retail line-up has also been strengthened with more beauty and cosmetics stores, fashion labels and new restaurants.”

From next Sunday, the Park-In Commercial Centre will be renamed Gala Place.