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Hongkong Land

From Alfawiki
Hongkong Land Holdings Ltd
Company typePublic company
IndustryProperty investment, management, and development
FoundedMarch 2, 1889; 137 years ago (1889-03-02)
FounderSir Paul Chater, James Johnstone Keswick
Headquarters
Hong Kong
,
Hong Kong
Area served
Asia (Hong Kong, Singapore, Greater China, Southeast Asia)
Key people
Vernon Roberts (former Group Chief Executive)
ProductsCommercial and residential properties
OwnerJardine Matheson Holdings (50%)
Websitewww.hongkongland.com

Hongkong Land (HKL) operates as a property investment, management, and development enterprise with a diverse portfolio of commercial and residential assets throughout Asia. The group controls and administers close to 850,000 square meters of office and retail properties, predominantly located in Hong Kong and Singapore. Its holdings in Hong Kong, totaling around 450,000 square meters, position it as the foremost landlord within Central, Hong Kong. In Singapore, it possesses approximately 165,000 square meters of office space, mainly acquired through joint ventures. The residential development arm is managed by its subsidiary MCL Land. Additionally, Hongkong Land owns a 50% interest in World Trade Center Jakarta, in partnership with the Murdaya family’s Central Cipta Murdaya Group, and is engaged in various residential and mixed-use projects across Greater China and Southeast Asia, including the upscale retail complex WF CENTRAL in Beijing.

Established in 1889, Hongkong Land Holdings Ltd is incorporated in Bermuda with its primary stock exchange listing on the London Stock Exchange and secondary listings in Bermuda and Singapore. The group’s assets and investments are administered from Hong Kong via Hongkong Land Limited. Ownership is shared equally with Jardine Matheson Holdings, which holds a 50% stake.

Operations in Hong Kong

As the dominant landlord in Central, Hong Kong, Hongkong Land has concentrated on modernizing its commercial properties in the area over recent decades. Notable projects include the redevelopment of Swire House into Chater House completed in 2003 and the refurbishment of the Prince's Building. The Landmark underwent redevelopment to incorporate the Landmark Mandarin Oriental Hotel alongside York House. The Forum within Exchange Square was converted into a five-story office building, now fully occupied by Standard Chartered Hong Kong.

In 2012, the company introduced the "LANDMARK" brand, uniting its four flagship shopping destinations: The Landmark, Alexandra House, Chater House, and Prince's Building—all interconnected by the Central Elevated Walkway. This rebranding initiative featured a new emblem "L," representing luxury retail.

On the residential front, Hongkong Land has delivered three premium developments on Hong Kong Island: Serenade, The Sail at Victoria, and Ivy on Belcher's.

Since 2006, it has organized the annual CENTRAL Rat Race charity event held in Central, which by the end of 2015 had raised over HK$25 million to benefit mental health organizations across Hong Kong and mainland China.

Expansion across Asia

Hongkong Land has broadened its footprint throughout Asia through strategic joint ventures with local developers such as Singapore’s Keppel Group, Shanghai’s CIFI Group, along with Chongqing’s Longfor and China Merchants.

In Singapore, it holds an attributable interest amounting to roughly 1.8 million square feet of commercial real estate including prominent projects like One Raffles Link and One Raffles Quay located in Marina Bay. It owns one-third of the Marina Bay Financial Centre, finalized in 2012. In Indonesia, it maintains a 50% shareholding in Jakarta Land, responsible for expanding the World Trade Center Jakarta complex. Other commercial assets include Gaysorn Village in Bangkok; the WF CENTRAL shopping mall in Beijing; Exchange Square in Phnom Penh; and office properties in Hanoi. In Macau, Hongkong Land partnered with Shun Tak Holdings to develop One Central Macau, an extensive mixed-use waterfront project featuring luxury residences alongside the Mandarin Oriental Macau hotel. Ongoing developments encompass a former British Embassy site redevelopment with Central Group in Bangkok; a commercial complex located at Xinjiekou, Nanjing; and a mixed-use waterfront project within Shanghai’s Xuhui district.

Regarding residential markets across Southeast Asia, MCL Land—fully owned by Hongkong Land—is actively involved in Singapore and Malaysia while also pursuing developments in Indonesia, the Philippines, Vietnam, and Thailand.

Within mainland China, residential projects under Hongkong Land’s portfolio include Central Park and Maple Place in Beijing; more than ten developments such as Yorkville and Landmark Riverside situated in Chongqing; WE City mixed-use development located in Chengdu; as well as Parkville within Pudong, Shanghai. Recently entered markets include Nanjing, Hangzhou, and Wuhan, focusing on both residential and mixed-use schemes.

Founding

Hongkong Land was created on 2 March 1889 under the name The Hongkong Land Investment and Agency Company Limited by Sir Paul Chater and James Johnstone Keswick. Chater, recognized for his involvement in brokerage and bullion, had long promoted a land reclamation initiative in Victoria District, Central Hong Kong. Just six days after the company's inception, the government authorized the reclamation project, which generated approximately 65 acres of new waterfront property along what would become Chater Road. This "Central Reclamation" played a pivotal role in shaping Hong Kong's commercial hub between Des Voeux Road Central and Connaught Road Central, encompassing areas such as Statue Square.

The New Oriental Building, completed in 1898 on Marine Lot 278 at No. 2 Connaught Road, was the first commercial structure erected on this reclaimed land. It was demolished in the early 1960s, and its location is now occupied by AIA Central. This reclamation effort established Hongkong Land’s integral contribution to developing Central as the financial heart of Hong Kong.

Early years

Between 1904 and 1905, Central witnessed the emergence of five prominent buildings regarded as Hong Kong's initial 'skyscrapers,' among them the Alexandra Building (1904), situated where today's Alexandra House stands.

By 1941, Hongkong Land held ownership of 13 properties in Central, including notable landmarks such as Marina House, Alexandra Building, Holland House, Queen's Building, and Prince's Building.

Business activities were suspended for nearly four years during World War II. When operations recommenced in September 1945, the company found its office buildings structurally intact.

Post-war redevelopment commenced in 1947 with an extension of three floors added to Marina House. The transformation of 11 and 13 Queen's Road Central into the nine-storey Edinburgh House was finished by 1950; these sites correspond to what are now Edinburgh Tower and York House. At the same time, Alexandra Building, Royal Building, and Chung Tin Building were demolished to make way for the construction of a 13-storey Alexandra House on a triangular plot bordered by Des Voeux Road, Chater Road, and Ice House Street.

1960s and 1970s

By the mid-1960s, Hongkong Land’s portfolio included nine office buildings, the Prince's Building shopping centre, and The Mandarin Hotel. These properties were interconnected by Hong Kong’s first pedestrian bridge system, creating a cohesive commercial complex.

During the 1970s, the company broadened its international footprint by acquiring real estate assets across Australia, Hawaii, Indonesia, Malaysia, Singapore, and Thailand.

Under the leadership of Group Chief Executive Vernon Roberts, Hongkong Land secured a central reclamation site for HK$258 million in 1970. Completed in 1973, the resulting Connaught Centre stood as Hong Kong’s largest and most technologically advanced office tower at that time; it was renamed Jardine House in 1989.

The decade also featured extensive redevelopment within its Central holdings. This included the completion of a new 36-storey Alexandra House in 1976, which was connected via elevated walkways to Prince's Building, Swire House, The Mandarin Hotel, and Connaught Centre—forming an integrated pedestrian bridge network.

Residential projects during this period encompassed May Tower (1974), Branksome (1976), and the expansive Chi Fu Fa Yuen estate in Pok Fu Lam. The latter comprises twenty towers offering a total of 4,258 flats along with retail outlets and recreational amenities.

1980s and 1990s

During the 1980s, Hongkong Land broadened its portfolio by acquiring substantial shares in Hong Kong Telephone Company Ltd and Hong Kong Electric Holdings Ltd.

In 1982, the company secured the final major site in Central for HK$4.7 billion and initiated the construction of Exchange Square—then recognized as the largest and most advanced commercial complex in terms of technology.

After the property market collapsed in 1982, causing rents to drop by half within two years, Hongkong Land encountered financial difficulties. The firm responded by restructuring, which involved divesting international properties and non-core holdings such as telecommunications and electric utilities, while maintaining its primary assets in Central.

With the property market rebounding by 1984, Hongkong Land completed One and Two Exchange Square by late 1985. The concluding section of Exchange Square, along with The Forum, was launched in 1988.

The Landmark project was finalized in two phases (1980 and 1983), comprising two office towers each rising 47 floors—Gloucester Tower and Edinburgh Tower—and a five-level retail podium.

Throughout the 1990s, Hongkong Land expanded its office portfolio in Hong Kong and increased investments across Asia. To address the growing supply of office space in Central during the late 1990s, the company redeveloped Swire House into Chater House, establishing a premier office location.

In Singapore, it delivered One Raffles Link—one of the early environmentally sustainable office buildings completed in 2000.

Investment Properties

Hongkong Land stands as a prominent landlord within the Central Business Districts across Hong Kong, Singapore, Jakarta, and other Asian metropolitan areas, including:

Hong Kong
Macau
  • One Central Macau
  • The Residences and Apartments at Mandarin Oriental
Singapore
Jakarta

World Trade Center Jakarta

Hanoi
  • Central Building
  • 63 Ly Thai To
Phnom Penh
  • EXCHANGE SQUARE (formerly The Embassy Site)
Bangkok
Beijing
Shanghai

West Bund Site, Xuhui, Shanghai

In addition to these properties, Hongkong Land holds hospitality interests such as The Landmark Mandarin Oriental Hotel, Mandarin Oriental Wangfujing Beijing, and Hyatt Centric The Ring Chengdu (scheduled for 2025).

Development Properties

Hongkong Land oversees an extensive residential development portfolio throughout Asia, focusing on upscale and luxury segments through wholly owned projects or partnerships. Recent developments include:

Hong Kong

  • The Serenade
  • The Sail at Victoria
  • Ivy on Belcher's
  • Chi Fu Fa Yuen
  • Chi Lok Fa Yuen
  • Eightland Garden
  • Luk Yeung Sun Chuen
  • Westlands Gardens
  • May Tower One
  • Tregunter Towers
  • Oriental Gardens

Beijing

  • Central Park
  • Maple Place at Beijing Riviera

Chengdu

  • WE City
  • Artisan Bay

Chongqing

  • Bamboo Grove
  • Central Avenue
  • Landmark Riverside
  • Yorkville South and North
  • River One
  • Harbour Tale
  • Hillview
  • The Pinnacle

Hangzhou

  • Hangzhou Bay

Nanjing

  • Yue City
  • JL CENTRAL
  • River and City

Shanghai

  • Park Mansion

Shenyang

  • One Capitol
  • One Island

Macau

  • One Central Residences

Wuhan

  • Dreamland

Indonesia

  • Anandamaya Residences
  • Nava Park
  • Asya
  • Arumaya

The Philippines

  • Mandani Bay
  • Northern Pine Land developments including Greenwoods Village, Wind Crest, Kahaya Place, Forest Ridge, South Hampton, Kohana Grove
  • One Roxas Triangle and Two Roxas Triangle

Singapore

  • Marina Bay Residences
  • Marina Bay Suites
  • MCL Land projects such as Parvis, Hillcrest Villa, Fernhill, Calrose, Metz, Waterfall Gardens, Sol Acres, LakeVille, Hallmark Residences, Palms @ Sixth Avenue
  • Margret Ville
  • Parc Esta
  • Leedon Green

Vietnam

  • The Nassim
  • The Marq

Thailand

  • The Esse Sukhumvit 36
  • Lake Legend, Cheangwattana

External links

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