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 1.2 million square metres in Changzhou, Chongqing, Shanghai and Suzhou at a book value of HK$11.2 billion as at 30 June 2015. These projects benefit from Wharf’s trusted brand in the development of quality and well-located residences.
The Group’s 80%-owned Suzhou International Finance Square (“IFS”), designed by Kohn Pedersen Fox, is a 450-metre commercial landmark comparable to the tallest building in Hong Kong. It is in the new CBD overlooking Jinji Lake and is adjacent to Xinghu Street MTR station (Line 1). The development, with a total GFA of 278,000 square metres, comprises Grade A offices, luxurious apartments and a premium boutique hotel. Construction is underway, with completion scheduled for 2017. Total investment 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 competitive advantages lie in its favourable location and premium quality.
In Changzhou, a 302-room five-star Marco Polo Hotel opened in the second half of 2014. Featuring a large garden for sophisticated events and weddings, the hotel defines a new luxury experience with unique facilities in this urban oasis.
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 prominent 50-year-old iconic landmark with majestic arches, is being converted into a unique urban chic hotel in Central by the Group. Its total investment amounted to over HK$7 billion. It will feature 336 luxury guestrooms overlooking the heart of Central. The Main Contract was awarded in May and hotel opening is targeted for the second half of 2017.