Hong Kong's Kerry Logistics Network (KLN) is looking to convert one of warehouses in Chi Wan to a columbarium, a facility with niches to house ashes of human remains in urns, on the eastern end of Hong Kong Island, which may provide accommodation for 100,000 reports Hong Kong's Apple Daily.

"With a lack of space in Hong Kong, we understand the demand for such facilities, but believe the government approval and local opposition could stall such a project's completion," reports Citi Transportation Research.

Kerry would reportedly invest as much as HK$2 billion (US$250,000) and could receive an average sales price of over HK$70,000 per niche similar to that obtained in Sha Tin and a site in Macau, said the Citi report.