MTR‑linked asset positioned to capture incremental demand from Sai Sha development
Hong Kong, 2 July 2026 – JLL has been appointed by the vendor as sole agent for the sale of Lake Silver Shopping Centre, located at No. 599 Sai Sha Road, Wu Kai Sha, by tender. The property represents a rare opportunity to acquire a mature neighbourhood retail centre in the district and will be offered on an “as-is” basis, subject to existing tenancies. It carries a market valuation of approximately HKD1 billion.
Lake Silver Shopping Centre has a total gross floor area of approximately 52,293 sq ft, spanning the ground and first floors. The property benefits from generous floor-to-ceiling heights, 4.6 metres on the ground floor and 4.25 metres on the first floor, and includes 20 commercial parking spaces. With its well-proportioned layout, the asset is well positioned to support a diverse mix of retail and service tenants.
The property is situated directly above Wu Kai Sha Station on the MTR Tuen Ma Line, offering seamless connectivity to the station concourse and adjacent public transport interchange. Its direct integration with the MTR network supports a stable and recurring flow of commuters, students and local residents, underpinning consistent footfall. The surrounding catchment is well established, supported by multiple large-scale residential developments with a population exceeding 33,400. The core customer base comprises middle-income households and professionals, providing a stable and resilient demand profile.
Additionally, the area offers strong growth potential. The project is supported by public transport connectivity, including shuttle buses and minibuses, providing access to the adjacent Sai Sha residential project, one of the largest residential developments in the East New Territories in the past 25 years. The project will deliver approximately 9,700 units and is expected to introduce a population of over 20,000 residents. The initial phase has been progressively occupied since December 2025, which is anticipated to further underpin retail demand in the area.
The shopping centre is currently fully leased, providing stable and recurring rental income. The asset offers strong income visibility and stability. The tenant mix is anchored in daily-needs and high-frequency spending categories, including established lifestyle supermarket, F&B operators, wet market, lifestyle services and well-known international kindergarten, well aligned with the requirements of the surrounding community.
Oscar Chan, Head of Capital Markets at JLL in Hong Kong, said “Ma On Shan continues to see limited supply of sizable, high-quality neighbourhood retail centres. Leveraging its prime location atop MTR Wu Kai Sha Station, full occupancy and well-established tenant mix, Lake Silver Shopping Centre offers investors immediate and stable rental income, alongside potential for long-term capital appreciation. As the Sai Sha development is progressively completed and the local population expands, underlying consumption is expected to strengthen, providing further support for the asset’s long-term performance.”
Eunice Tang, Senior Director, Capital Markets at JLL, added: “Positioned as a neighbourhood retail centre anchored in daily consumption, the property benefits from a resilient and well-diversified tenant mix, enhancing its appeal in the current market environment. Coupled with sustained population growth in the surrounding area and its location at a key transport hub, the asset is well placed to support consistent footfall. Amid rising investor demand for stable income and defensive assets, we expect strong interest from local, mainland and overseas investors who are looking for long-term investment.” For more details, please contact Oscar Chan at 5348 0312 and Eunice Tang at 9520-8669.
