'11 Skies to merge with HK$100bn Skytopia project'

The Airport Authority (AA) has announced that the 11 Skies project will be renamed, repositioned, and integrated into a HK$100 billion mega project called Skytopia. This initiative aims to transform the area near the airport into a major international entertainment hub, according to Cissy Chan, the AA’s executive director of commercial.

Half of the 3.8 million-square-foot 11 Skies will be converted into entertainment facilities, including a go-kart track, pet-friendly venues, and a direct-delivery fresh market relocated indoors. The remaining half will be dedicated to dining and retail. The retail aspect of the project will move beyond traditional luxury brands to include more experimental elements.

Chan confirmed that an agreement has been reached with New World Development to terminate the sublease of the 11 Skies project. In return, the developer will provide compensation of over HK$3 billion in cash and cash equivalents. New World Development will retain operation of two of the entertainment facilities within Skytopia. The revamped 11 Skies is set to open between late 2028 and 2029, with Chan expressing confidence that most of the space will be leased by then.

Julian Lee, AA’s Executive Director of Finance, revealed that all cash and cash equivalents paid by New World Development will be utilized to cover operational expenses for the project. Both parties agreed not to take the matter to court, considering Hong Kong’s long-term development goals.