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K11 ARTUS Proposed Conversion to Serviced Apartments Rejected by TPB, Citing Insufficient Justifications
K11 ARTUS, currently operating as a hotel in Tsim Sha Tsui under NEW WORLD DEV (00017.HK), had its proposal to convert the property into serviced apartments at the same site turned...
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K11 ARTUS Proposed Conversion to Serviced Apartments Rejected by TPB, Citing Insufficient Justifications
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K11 ARTUS, currently operating as a hotel in Tsim Sha Tsui under NEW WORLD DEV (00017.HK)  +0.350 (+4.070%)    Short selling $17.93M; Ratio 18.444%   , had its proposal to convert the property into serviced apartments at the same site turned down by the Town Planning Board (TPB) last month.

According to the TPB meeting minutes, the application proposed converting approximately 10% of the gross floor area (GFA) from hotel use to residential use.

However, the Board, considering that the site is located along the Tsim Sha Tsui waterfront, a hub for Hong Kong's commercial and tourism activities, determined that the proposal did not align with the planning intention. The applicant also failed to provide sufficient planning justifications to support the application.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-10 16:25.)

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