London-based Zaha Hadid Architects (ZHA) has confirmed that it is working with Henderson Land Development to design an office block on Murray Road, on a site currently occupied by a multistorey car park.
The developer purchased the plot last year for HK$23.3 billion (£2.2 billion) – a record figure, according to numerous news outlets.
"ZHA is working with Henderson Land Development to bring forward a prestigious office scheme at No 2 Murray Road on Hong Kong Island," said the firm.
Zaha Hadid Architects will deliver tower by 2022
Henderson Land Development was granted permission from Hong Kong's Buildings Department back in March for a 35-storey tower.
According to ZHA, the project is due to complete "by the third quarter of 2022".
"It aims to be an iconic Grade A office building, targeting to be a 'green, smart and healthy' development, with the relevant highest international accreditations," said the firm.
The site on Hong Kong Island is on Murray Road in the financial district, directly opposite the Bank of China Tower designed by IM Pei, and close to Foster + Partners' HSBC Headquarters.
Site cost £764,000 per square metre
Henderson Land Development – which is majority owned by the second-wealthiest person in Hong Kong, Lee Shau Kee – purchased the 2,880 square metre (31,000 square foot) site at an auction in 2017.
This means that the developer paid £764,000 per square metre for the site, which equates to $95,000 per square foot.
It is reportedly the first plot of commercial land to have been sold by the government of Hong Kong since 1996, which could account for its high price.
The project will become Zaha Hadid Architects' second in the city, joining the 78-metre-high Jockey Club Innovation Tower on the Hong Kong Polytechnic University campus, which completed in 2014.
Ranked at seven in Dezeen Hot List 2017, Zaha Hadid Architects is currently designing numerous towers around the world, including the tallest residential building in Mexico City, and a pair of mixed-use towers in London.