To maximize the potential of Belvedere Square, the Manager planned for asset enhancement initiatives in Phase 3 of Belvedere Square, involving 130,000 s.f. of retail space. The entire ground floor was fully upgraded with a more efficient shopping layout through reconfiguring retail spaces and a revitalised wet market. With the enhanced offerings, Belvedere Square successfully attracts shoppers beyond its immediate catchment from further away along Castle Peak Road. The renovation was commenced in September 2014 and completed in phases in 2015. With an investment of approximately HK$80 million, return on investment of the project is 20.3%.