Harbour Centre Development Limited (stock code: 51) is a listed subsidiary of The Wharf (Holdings) Limited (stock code: 4), with property and hotel development and investment in Hong Kong and the Mainland as its primary business.
The Group's total attributable land bank in China totalled 1.9 million square metres at the end of 2013, which comprised six projects in the prime areas of Changzhou, Chongqing, Shanghai and Suzhou representing 58% of the Group’s total business assets at a book value of HK$13.9 billion. These projects benefit from Wharf’s trusted brand in the development of quality and well-located residences. 2013 contribution from the Mainland reached 82% and 67% of Group revenue and operating profit.
In Suzhou, the 450-metre tall landmark Suzhou International Finance Square designed by the internationally renowned architect Kohn Pedersen Fox is targeted for completion by 2017 at an estimated cost of RMB5.3 billion. With a total GFA of 278,000 square metres, including 176,000 square metres of international Grade A offices, 73,000 square metres of luxurious apartments and a premium boutique sky hotel, it promises to be the leading tower in the emerging new CBD.
In Changzhou, the 31-suite The Mansion, a 271-room five-star hotel and 139-unit serviced apartments are scheduled for completion by 2014. The hotel is part of The Mansion complex with vast garden space for major events and weddings.
Flagship assets in Hong Kong include the Marco Polo Hongkong Hotel and the newly-acquired Murray Building. The former is strategically located in Harbour City in Canton Road with 665 hotel rooms. The latter is an interesting, prominent landmark building standing on a prime site in Central to be conserved and converted into a fashionable hotel, with target opening in 2017. Spurred by the thriving inbound tourism and strong hotel room demand, hotel and property investment in Hong Kong continued to deliver solid growth.