Several experts attended the Hong Kong Laureate Forum 2023, where they saw Zaha Hadid's latest skyscraper project, The Henderson.
Unveiling AI-Powered Elevators
This Hong Kong-based 36-story building is set to introduce innovative AI-powered, self-sustaining elevators. Transforming an old car park, Interesting Engineering reported that The Henderson aims to be an urban oasis adorned with gardens featuring a variety of plants and trees. Accessing these gardens will be facilitated by the next-generation AI-powered lifts.
Henderson Properties revealed to Baba that each user will have a dedicated AI-powered lift in the future, eliminating long wait times on the ground or specific floors. The advanced AI system will efficiently coordinate lift movements based on user demand and final destinations.
In the discussion, Sam KS Li, the assistant general manager of leasing at Henderson, shared that the elevators are furnished with AI cameras capable of detecting the number of individuals at the lobby and estimating their weight as the doors open.
Within the elevator, additional cameras track passengers' exit points and consistently assess available space for potential entrants. Li emphasized that the elevators operate at speeds ranging from 13 to 16 feet (four to six meters per second), a deliberate choice to prioritize passenger comfort over the faster pace of some other elevators in Hong Kong.
In response to inquiries about the energy output of the elevators, Li did not provide a specific answer. Nevertheless, given the substantial height of the building at 623 feet (190 meters), it is anticipated that a considerable amount of electricity will be necessary to facilitate vertical transportation over such distances.
Henderson Land Development
One of Hong Kong's prominent real estate players, Henderson Land Development is behind the development of the new structure. In 2021, Chairman Martin Lee Ka-shing articulated the vision for the project, describing it as not only a world-class commercial building but also a work of art contributing to the enhancement of Hong Kong's urban landscape.
In a significant move, Christie's announced its plans to relocate its Asia-Pacific headquarters to The Henderson, occupying a space approximately four times larger than its current headquarters. Despite these ambitious plans, the building has faced challenges in attracting major tenants, especially in the context of a decline in office demand.
Henderson Land reports that just under 50% of the building's capacity has been occupied thus far. Market observers are closely monitoring developments to ascertain whether the remaining space will be leased before the building's opening.
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Hong Kong's economy faces the impact of China's gradual post-pandemic economic rebound and a lackluster performance in the stock market, as reported by Nikkei Asia.
The vacancy rate for Grade A offices in Hong Kong surged to 17.7% in September, marking the highest level since 2004, a period marked by the severe acute respiratory syndrome (SARS) epidemic, as reported by real estate services firm Cushman & Wakefield.
The Henderson is among several sizable office buildings scheduled for opening in Hong Kong in the late stages of 2023 and early 2024. This influx of new office spaces has the potential to further elevate the vacancy rate, consequently exerting downward pressure on rental rates.
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