With Swire Properties' redevelopment of industrial buildings into an office tower cluster at Taikoo Place, Quarry Bay has gradually become an extensive commercial area, accelerating the area's transformation in recent years. The Company has been redeveloping the previous Cornwall House, Somerset House and Warwick House into One and Two Taikoo Place, providing a total of 2 million sq ft of premium commercial space. It also intends to redevelop Zung Fu Industrial Building and the adjacent Wah Ha Factory Building, upon successful bid in the relevant compulsory sale, into office buildings and other commercial uses with an aggregate gross floor area of approximately 779,000 sq ft, further expanding its footprint in Island East.