Hongkong Land says to open 10 retail developments in 5 yrs in China
09/06/2023 09:25
HONG KONG, June 9 (Reuters) - Hongkong Land Holdings
HKLD.SI said it plans to open 10 retail developments in the
next five years in seven cities across China, bringing the total
number of commercial projects in the country to 17.
The cities will be Chongqing, Chengdu, Wuhan, Shanghai,
Nanjing, Hangzhou and Suzhou, it said in a statement on
Thursday, adding the new developments will add 280,000 square
meters of retail floor space to its China portfolio
Hongkong Land also said it will complete the $8 billion West
Bund Financial Hub development in Shanghai in three phases
through 2027, and start selling the high-end waterfront
apartments later this year.
The West Bund Orbit, a landmark public art centre, will also
be launched by the end of 2023, it added.
Acquired in 2020 with a joint-venture partner, the West Bund
Financial Hub is built on a 23.1-hectare mixed-use site located
in Xuhui district, where the local government plans to create a
new international financial centre.
The development is the firm's largest ever single project
investment and twice the size of its Central Portfolio in Hong
Kong.
(Reporting by Clare Jim; editing by Jason Neely)
((clare.jim@thomsonreuters.com;))