Wai Yip Street has seen a number of redevelopments in the past few years with industrial buildings making way for new offices. International companies have noticed and started to move into the area.
At the western edge of the office area is The Quayside, which is managed by Link REIT and has attracted JP Morgan.
This pedestrian bridge marks the end of the revitalizing office district.
One street in, the scene is still primarily industrial with lots of car repair shops on the ground floor. This was the prevalent scene a decade ago. There are still afew of these buildings on Wai Yip Street itself.
Citibank and Manulife moved into One Bay East a few years earlier than JP Morgan. The 2 21-storey towers offer over 1 million square feet of office space.
Meanwhile, there are other new office towers along the street.
However, the district still retains much of its industrial character along Hoi Bun Road with gritty buildings and illegally-parked trucks. A nice 1km waterfront promenade stretches along the shoreline on what used to be a cargo working area.
The southern section near Kwun Tong MTR station saw the first office building redevelopments at a time when it was unthinkable that the banks would relocate here from Central. Landmark East consists of 2 towers of 36 and 34 stories that opened in 2008, offering over 1.3 million square feet of space.