The Yau Tong Bay Integrated Development Project is a leading and large-scale integrated development project in recent years, covering large-scale development facilities such as schools, open spaces, residences, hotels, etc.

In the late 1980s, Ping Tak joined hands with many owners of Yau Tong Bay lots and entered the prominent real estate developers in Hong Kong to apply to the government to change land use. After years of consultation with various government departments, the Hong Kong Town Planning Board (TPB) approved the Outline Development Plan in 2015. The Buildings Department approved the official building plans in July 2017.

History of Banyan Garden

Banyan Garden was once home to 4 shipyards, including Wang Tak, Cheoy Lee Shipyard, etc. In the early 1990s, to facilitate the West Kowloon Reclamation project and the airport’s relocation, the Government of Hong Kong required the shipyards located at the Lai Chi Kok waterfront to relocate to Stonecutters Island. Ping Tak and the other shipyards continued to develop the land where the original shipyard was located. The shipyards entrusted Cheung Kong(Holdings) Limited (now CK Asset Holdings Limited) to apply for a change of land use through the Town Planning Board, from industrial land to private residential.

About Banyan Garden

Banyan Garden is located on no. 863 Lai Chi Kok Road, Cheung Sha Wan, in Kowloon. The estate has seven towers, providing more than 2000 private residential apartments. Banyan Garden was developed by Cheung Kong(Holdings) Limited with the partnership of Cheoy Lee Shipyards, Ping Tak Investment Company, Yin Cheong Company Limited, and Wang Tak Engineering & Shipbuilding Company Limited.

Located minutes away from Lai Chi Kok MTR station and with a variety and unique facilities in the clubhouse, for example the Small Kids Club and an artificial beach, Banyan Garden had attracted a lot of buyers as soon as the sales opened.

In 1995, the Government of Hong Kong commenced reclaiming about 380ha of land from the sea between Stonecutters Island and the west coastline of Kowloon Peninsula. The reclaimed land would be developed in stages for public and private housing, commercial development, roads, open space, government, institutional, and community uses.

In the early 1990s, the shipyard which was located in Lai Chi Kok was affected by the West Kowloon Reclamation project and the relocation of the airport project. The shipyard was required to relocate to Stonecutters Island and Yam O. Pak Tak together with the other shipyards liaised with the Government in August 1992, each shipyard signed the protocol with the Government and relocated the shipyards.

To construct the Wang Tak shipyard, Ping Tak assisted in the planning and the communication works to ensure the construction was completed in a timely manner. The Wang Tak shipyard was located in the reclamation area which would be handed over by the Government in September 1992, while the existing Ping Tak shipyard would need to be relocated by October 1993 due to the land reclamation works at Cheung Sha Wan. The limited-time frame was a challenge for the relocation works. To facilitate the completion of the works, including preparing construction design, construction of seawall and office building, ordering or renting construction plants and equipment, finishing works of the building, and obtaining the occupation paper in 13 months, Ping Tak liaised with the stakeholders, including the owners of the other shipyards, professionals and contractors, and built consensus on the design and construction challenges encountered. With the support and cooperation of all parties, the new shipyards were completed on time, and obtained the occupation paper in September 1993, allowing the Wang Tak shipyard to be relocated to Stonecutters Island.

In the mid-1990s, five shipyards were relocated to Stonecutters Island. Up to now, shipyards located on Stonecutters Island include Hop Hing Marine Industrial, Wang Tak Engineering & Shipbuilding, Ocean Shipbuilding & Engineering Limited, Yuet Hing Marine Supplies Co. Ltd, etc.