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 had an attributable land bank of 1.5 million square metres in Changzhou, Chongqing, Shanghai and Suzhou at a book value of HK$12.3 billion as at 31 December 2014. These projects benefit from Wharf’s trusted brand in the development of quality and well-located residences.
Suzhou International Finance Square (80% attributable to the Group) is a 450-metre landmark commercial development in the new CBD overlooking Jinji Lake, and will be comparable in height to the tallest building in Hong Kong. Designed by Kohn Pederson Fox, the development consists of Grade A office, luxurious apartments as well as a premium boutique hotel with full scenery of Suzhou. The development, with a total GFA of 278,000 square metres, will be directly connected to the future metro station. Construction is underway with completion scheduled for 2017. Total estimated cost amounted to RMB5.4 billion. Bundled with a larger and profitable development property project, Suzhou IFS will be held as investment property for recurrent income. Its favourable location and good quality will drive IFS to outperform the competition amidst a challenging market.
In Changzhou, a 271-room five-star Marco Polo Hotel and a 31-suite Mansion were completed in 2014. Initial phases have opened since August 2014. The opening of Marco Polo Changzhou, with a large garden for major events and weddings, defines a new luxury experience with unique facilities in this urban oasis. It marks an additional income stream for the Group and enriches the Group’s hospitality portfolio.
Flagship assets in Hong Kong include the Marco Polo Hongkong Hotel ("MPHK Hotel") and Murray Building. Both are distinguished not only in location, but also rich in history and superior in market position. Strategically located in Harbour City with 665 hotel rooms, MPHK Hotel continues to provide convenience for discerning travellers. Murray Building, a majestic building with towering arches, is a prominent landmark and part of Hong Kong’s heritage for nearly 50 years. Conveniently located on Cotton Tree Drive in Central, the building guards the intersection of traffic arteries in Central that run east-west and north-south and commands an open green view over Hong Kong Park. It is also well connected to other buildings in the neighbourhood, as well as to the Mass Transit Railway. The Group will convert this iconic property to an urban chic hotel for a total investment of over HK$7 billion. Site-preparation works have commenced, with target opening scheduled for 2017.