Similar to nearby Kwun Tong, many of Kowloon Bay's industrial midrises have given way to new commercial buildings for companies seeking cheaper rents from Central. It all began in 2001, when the government rezoned this district for business use, followed by the government's initiative to turn Kowloon East (Kai Tak, Kwun Tong, and Kowloon Bay) into an alternate CBD in 2011. By 2016, the area's 15.4 million sq ft of office space has overtaken Wanchai - Causeway Bay as the 2nd largest office market in the city.
Megabox has outdoor viewing decks on the higher floors over Kai Tak and the harbour.
However, the district still retains much of its industrial character with gritty buildings and illegally-parked trucks everywhere. The government is trying to change that and redevelop the area into an alternative CBD with much cheaper rents than across the harbour.
Manulife and Citibank will move into these twin towers in the coming years.
Further out from Kowloon Bay, the office towers give way to a more industrial landscape.