Times Square is located on the former tram depot site in Causeway Bay.  It comprises two office towers, one 33 storeys and the other 26 storeys above a 14-storey retail podium with four cinemas and a six-storey basement.  The MTR Causeway Bay South concourse is linked to the fifth basement of Times Square through the tunnel underneath Percival Street.

The Building is setback from the corner of Russell Street and Matheson Street, creating a welcome open space in a highly congested area in Causeway Bay.  This open space is used for civic activities, exhibitions, performances, and is one of the selected locations for the new year countdown, like Times Square in New York.  Times Square has been a catalyst in rejuvenating this entire section of Causeway Bay into a popular shopping district and a must-see destination for tourists to Hong Kong.