(HONG KONG) - Hines, the global real estate investment, development, and property manager, announced today the official opening of “Dash Living on Prat,” its premier and innovative tech-driven co-living rental offering for young professionals in the heart of Tsim Sha Tsui (“TST”), Hong Kong.
Formerly “The Butterfly on Prat Hotel,” the 6,500-square-metre 158-key hotel was purchased in 2021 on behalf of Hines’s Pan-Asia fund, Hines Asia Property Partners (“HAPP”), in partnership with MindWorks Properties, a Hong Kong-based real estate and technology firm. The hotel was rebranded and significantly renovated to transform it into a premier co-living complex featuring design, amenities, and community lifestyle targeted at today’s young professionals.
“We are seeing an increase in demand for more co-living options across Greater China,” said Claire Cormier Thielke, senior managing director and country head of Greater China at Hines. “In markets with high prices like Hong Kong, this differentiated accommodation offering aims to allow tenants to share experiences, develop their network, form relationships and build on the Hines promise of providing high quality living.”
The new complex includes ground-floor retail and will serve as the co-living flagship for Dash Living, one of Hong Kong’s largest operators of urban professional housing. It is in a strategic location adjacent to parks and restaurants, is convenient to both Hong Kong metro and the China High-Speed Rail to the Mainland and provides unparalleled access to the Greater Bay Area.
“This is an exciting option for young professionals that provides them with independence, comfort, amenities and community,” commented Chiang Ling Ng, chief investment officer, Asia at Hines. “As we continue to invest across the living space, we continue to seek out similar residential opportunities in the region.”
Hines is a global real estate investment, development and property manager. The firm was founded by Gerald D. Hines in 1957 and now operates in 30 countries. We manage nearly $96B¹ in high-performing assets across residential, logistics, retail, office, and mixed-use strategies. Our local teams serve 685 properties totaling nearly 216 million square feet globally. We are committed to a net zero carbon target by 2040 without buying offsets. To learn more about Hines, visit www.hines.com and follow @Hines on social media.
¹Includes both the global Hines organization and RIA AUM as of December 31, 2022.
About MindWorks Properties
MindWorks Properties is a real estate investment and asset management firm founded in 2018 with a focus on non-traditional real estate sectors such as co-living & hospitality, logistics & storage, and data centers. MindWorks Properties is affiliated with MindWorks Capital, a venture capital firm established in 2013 which utilizes a Pan-Asia strategy to source direct investments in technology companies across both Greater China and Southeast Asia. MindWorks currently manages over US$1 billion in total net asset value across its funds and is a co-investment partner of the Innovation Technology Venture Fund initiated by the Hong Kong government. For further information, please visit www.mindworks.vc
About Dash Living
Dash Living is Asia Pacific’s leading provider of rental housing in Hong Kong, Singapore, Tokyo, and Sydney, backed by MindWorks, Grosvenor, Taronga Ventures, Chinachem and more. With 2,000+ rooms and 3,500+ tenant members currently in our portfolio, Dash creates a global accommodation community through sharing economies, tech, and unique tenant experiences, empowering living in a connected world. In 2022 alone, nearly US$500 Million in Gross Asset Value has been acquired by renown real estate asset managers to be managed by Dash Living.