ebulletin

July 12, 2024
LANDMARK announced HK$7.8 billion upgrade plan

Hongkong Land recently announced “Tomorrow’s CENTRAL”, its upcoming plan to invest over HK$3.1 billion to expand and upgrade its LANDMARK retail portfolio over a three-year period, with phase one commencing in the third quarter of 2024. Additional capital investments of an estimated HK$4.7 billion will be made by Hongkong Land’s retail tenants across the LANDMARK portfolio in the design and creation of new offerings. As part of the transformation project, 10 world-class, multi-storey Maison destinations will be created.

Hongkong Land is making this strategic investment to meet its luxury tenants’ demand for significant additional retail space and enhanced brand representation in the heart of Central, Hong Kong. The Maison destinations will be some of the largest anywhere in the world, providing exceptional services and amenities to LANDMARK’s deep pool of discerning clients.

Three unique Maison destinations of between two and eight storeys will be created in each of LANDMARK ATRIUM, LANDMARK ALEXANDRA, and LANDMARK PRINCE’S, while one will be developed in LANDMARK CHATER, doubling the retail areas of the 10 luxury brands to over 21,000 sq m.

The enlarged spaces will enable brands to showcase the widest assortment of products and create highly personalised services for their Very Important Customers (‘VIC’) including haute couture, private dining concepts, outdoor terraces and double-heighted VIC salons. The eye-catching, extensive upgrades of building facades will transform Central’s cityscape.

To accommodate the growth of retail areas, the Group is converting the lowest two levels of office space in Prince’s Building and Gloucester Tower as well as relocating the bar and lobby of The Landmark Mandarin Oriental, Hong Kong.

Exceptional experiences and enriched ecosystem

LANDMARK’s retail podiums will be reconfigured to meet customers’ demand for high-quality, diverse lifestyle options and to elevate experiences through improved circulation and connectivity.

The project will further integrate the Group’s assets with the Central Portfolio ecosystem through additional pedestrian access at the basement floor of LANDMARK ATRIUM, which will provide multi-level connectivity, and an elevated office lobby experience for Edinburgh Tower and Gloucester Tower on the third floor.

Sustainability leadership

The Group has set specific sustainability ambitions for the transformation project with extensive use of green building materials, including employing 100% low-carbon concrete, 100% green rebar and 100% sustainable timber. Additionally, 80% of construction plants and equipment used in the project will be electric to reduce carbon emissions.

Upon completion, LANDMARK aims to secure several of the highest environmental, health and safety and wellbeing certifications including BEAM Plus Interiors, LEED Commercial Interiors and WELL, making it one of the greenest property upgrades in Hong Kong.