Frank Gehry's first residential project in Asia is set to break the record for the highest rent in Hong Kong. The new residential building labelled Opus Hong Kong is 12-storeys high and features 12 units.

Martin Cubbon chief executive of Swire properties said that the new residential building would break record high costs.

"We haven't set the price yet, but it is fare to assume it to be the highest in Hong Kong- record breaking, " Mr Cubbon said.

The Opus Hong Kong is located at 53 Stubbs Road in the city's peak area, one of the most expensive neighbourhoods in Hong Kong.

The location on Stubbs Road, was previously owned by Swire Properties for nearly 60 years and it was also home to one of the senior executives in Swire.

Swire properties first approached Mr. Gehry with the project in 2004; its design was unveiled in 2009, and it is currently scheduled for completion in the second quarter of 2012.

In an interview, with the Wall Street Journal Mr. Gehry said that Hong Kong is "a city which I've come to love." He added: "The building kind of designed itself because of the beautiful site. You could almost just put a platform with glass around it as the views from inside are spectacular."

Prospective tenants at the Opus would include business executives, entertainers and diplomats.

Many people have expressed interest in buying apartment units but Swire plans to hold on to the residences stopping extraordinary offers.

Swire properties have not released any prices for the apartment units and they haven't commented on how much money the construction costs.

Source: Propery Report