H.A.N.D.S. Shopping Centre Awarded Silver Honor for Best Urban Regeneration Project at MIPIM Asia Awards 2022
HONG KONG SAR - Media OutReach - 8 December 2022 - Real estate private equity firm Gaw Capital Partners announced that H.A.N.D.S. Shopping Centre, a project managed by People's Place, in Hong Kong's Tuen Mun District, was awarded the Silver Honor in the Best Urban Regeneration Project category of MIPIM Asia Awards 2022 in Hong Kong on December 7.
The MIPIM Asia Awards commend APAC's most outstanding real estate projects and are a highly regarded benchmark for showcasing achievement in the property industry.
H.A.N.D.S. Shopping Centre in Tuen Mun was a standard community mall with a large but idle rooftop. Recognizing its potential, Gaw Capital transformed the 110,000 sq ft bland rooftop into Hong Kong's first "Sports Hub in the Sky" which includes a three-level roller sports ground, a football pitch, a run base and basketball courts. Joining hands with like-minded architects, corporates and charities, we constructed a creative urban regeneration project where sports and recreational activities are easily accessible, driving foot traffic to our tenants and local businesses.
To unleash the value of H.A.N.D.S., Gaw Capital has reshuffled the zoning of the mall and introduced a new wayfinding system to revive the neighbourhood. The team also leveraged on the indoor and outdoor space to position H.A.N.D.S. as an iconic and popular "Community Sports and Wellness Hub" while adding sports tenants to the mix. Gaw Capital also strives to apprehend H.A.N.D.S.' social value through creative retail and ESG initiatives that attract a wider spectrum of customers while keeping community needs and our fiduciary duties to investors in mind.
Kenneth Gaw, Managing Principal and President of Gaw Capital Partners, commented, "I would like to express my gratitude to the judging panel for recognizing our effort in revitalizing H.A.N.D.S. It is a testimony to our place-making effort in creating social value while revitalizing the community. The revamped H.A.N.D.S. Shopping Centre is now a hub shared by residents, visitors and sports enthusiasts with diverse retail and dining options along with well-designed sports facilities."
Alvin Lo, Managing Director, Asset Management of Gaw Capital, said, "We are deeply honored and grateful to receive the MIPIM Award. The Award emphasized our unwavering efforts to create value for the asset and our ability to reimagine previously underutilized retail and recreation areas into an uplifted and energized Community Sports and Wellness Hub. We would also like to take this opportunity to thank our team and tenants for their unceasing support that drives our vision forward."
The MIPIM Asia Awards considers wide-ranging projects throughout the APAC region of both completed and in-progress developments.
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About Gaw Capital Partners
Gaw Capital Partners is a uniquely positioned private equity fund management company focusing on real estate markets in Asia Pacific and other high barrier-to-entry markets globally.
Specializing in adding strategic value to under-utilized real estate through redesign and repositioning, Gaw Capital runs an integrated business model with its own in-house asset management operating platforms in commercial, hospitality, property development, logistics, IDC and education. The firm's investments span the entire spectrum of real estate sectors, including residential development, offices, retail malls, serviced apartments, hotels, logistics warehouses and IDC projects.
Gaw Capital has raised seven commingled funds targeting the Greater China and APAC regions since 2005. The firm also manages value-add/opportunistic funds in the US, a Pan-Asia Hospitality Fund, a European Hospitality Fund and a Growth Equity Fund, and it also provides services for credit investments and separate account direct investments globally.
Since 2005, Gaw Capital has commanded assets of US$33.6 billion under management as of Q3 2022.
