The British merchant firm Taikoo (Butterfield & Swire) had a lot to do with the development of the district around Quarry Bay, Sai Wan Ho, Mount Parker, Braemar and Kornhill. In the past Kornhill was a hill neighbouring Taikoo Dockyard at Quarry Bay, with two British-style redbrick mansions at the summit. Very catchy indeed!

Quarry Bay was a small shallow bay with cliffs on the side. The name came by because, early before the British takeover, villagers of Wong Kok Tsui and Shui Tseng Wan had already begun quarrying granite at the site. In 1881, Taikoo acquired the coastal area and, after reclamation, established the Taikoo Sugar Refinery on the formation. The Taikoo Reservoir (aka Braemar Reservoir) was also built on the abutting hill to supply water for the refinery. In 1902, land was again reclaimed near the refinery, on which the Taikoo Dockyard was constructed. The entire complex turned Quarry Bay into the largest industrial district of Hong Kong at that time. To accommodate its huge army of staffs, which amounted to nearly ten thousand, the company set up a dormitory zone at Sai Wan Ho east of the Dockyard, giving rise to a network of six streets begin with “Tai”: Tai On, Tai Ning, Tai Hong, Tai Foo, Tai Cheong and Tai Kat.