According to documents from the Urban Planning Committee, the Hotel Oceanus is located at 8 Hung Luen Road and falls under the "Commercial (2)" zone. The site has an area of ​​approximately 219,200 square feet, with proposed development not exceeding a plot ratio of 5 times. It is planned to be redeveloped into 5 residential buildings, each 22 stories high, including podiums, providing a total of 1,665 residential units. The total gross floor area of ​​the project is estimated to be approximately 2.3594 million square feet, with an additional 21,800 square feet of non-residential floor area. The ground floor will feature retail shops and dining facilities.

The Hotel Oceanus has been in operation since 2007, offering 1,662 rooms ranging from 647 to 724 square feet. The rooms are configured as 2 or 3 bedrooms, with some units enjoying views of Victoria Harbour. According to the redevelopment plan, the new residential units will slightly exceed the number of original hotel rooms.

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It's worth mentioning that in 2019, the hotel was granted approval by the Buildings Department to be rebuilt as two commercial towers, each approximately 15 stories high, with a total gross floor area of ​​about 1.1565 million square feet. However, after review, decision-makers concluded that redevelopment into a residential project better aligns with market demand and regional planning.

Several hotel sites under Cheung Kong Property Holdings have been approved or have applied for redevelopment into residential projects, totaling 4,914 residential units. Among them, the Ma On Shan Sea Crest Hotel (758 units) and the Tin Shui Wai Park Island Sea View Hotel (1,102 units) received redevelopment approval in 2022.

In addition to the Hung Hom Bay Hotel Oceanus, Cheung Kong Property also submitted plans last August to redevelop the adjacent Sea Melody Hotel Oceanus. According to the plan, Sea Melody will be redeveloped into approximately 1,375 residential units and 546 hotel rooms. This means that the two hotel redevelopment projects in the Hung Hom area alone will bring a total of 3,040 new residential units.

The approval of these hotel redevelopment projects will help meet the growing demand for housing in the area and inject new vitality into urban development. Cheung Kong Property's efforts will further promote economic development and social progress in the region.