Hong Kong Land Holdings To Open Multiple Retail Development Projects in China

Hongkong Land Holdings stated that it intends to launch 10 retail developments in seven cities across China during the following five years, raising the nation's total number of commercial projects to 17.

According to a statement released on Thursday, the cities will be Chongqing, Chengdu, Wuhan, Shanghai, Nanjing, Hangzhou, and Suzhou. The new developments will also add 280,000 square metres of retail floor space to its China portfolio.

Additionally, Hongkong Land announced that it would start selling the upscale waterfront apartments later this year after completing the $8 billion West Bund Financial Hub development in Shanghai in three parts through 2027.

By the end of 2023, The West Bund Orbit, a significant public art facility, will also open.

The West Bund Financial Hub, which was acquired in 2020 with a joint-venture partner, is situated on a 23.1-hectare mixed-use property in the Xuhui district, where the local government intends to establish a new global financial centre.

The development is double the size of the company's Central Portfolio in Hong Kong and is the firm's greatest single project investment to date.