ebulletin

March 18, 2026
Hongkong Land's "Tomorrow's CENTRAL" Plan Reshapes Landmark District

Hongkong Land has launched a major refurbishment and repositioning program for its flagship commercial properties in the Central district of Hong Kong under the "Tomorrow’s CENTRAL" initiative. The plan primarily targets the LANDMARK retail complex and associated Central Portfolio assets, which form one of the largest premium office-retail ecosystems in the district. Below is a structured update covering scope, scale, timeline, and cost.

Overall Project: "Tomorrow’s CENTRAL"

Developer: Hongkong Land

Location: Central business district of Hong Kong

Main assets involved: the LANDMARK retail portfolio integrated with several Central office towers.

Key objective:

Upgrade and expand luxury retail space and enhance the overall Central Portfolio ecosystem to maintain leadership in the high-end retail and office market.

The refurbishment is expected to strengthen Central’s position as a global luxury retail hub and attract higher-spending customers and international brands.

Scope of the Refurbishment

Properties included:

The revamp focuses mainly on LANDMARK retail areas within Hongkong Land’s Central Portfolio, including:

LANDMARK Atrium

LANDMARK Alexandra

LANDMARK Prince’s

LANDMARK Chater

These retail podiums are integrated with office buildings such as:

Alexandra House

Chater House

Key refurbishment components

Creation of “Maison destinations”

Up to 10 multi-storey flagship luxury brand spaces (“Maisons”).

Each Maison ranges from 2 to 8 storeys.

Expansion of luxury retail space

Doubling of space allocated to certain flagship brands.

Total new flagship brand space exceeding ~220,000 sq ft (≈21,000 m²).

Tenant repositioning

Luxury brands redesigning their retail environments.

Additional experiential retail and VIP customer services.

Lifestyle and F&B enhancement

Total F&B space across the Central portfolio to reach about 260,000 sq ft.

More than 100 dining outlets, including Michelin-starred restaurants.

Infrastructure and circulation upgrades

Improved internal connectivity between office towers and retail podiums.

Modernized layouts to support luxury retail concepts.

Size and Portfolio Context

Hongkong Land’s Central Portfolio is one of the largest office-retail clusters in the district.

Approximate characteristics:

~12 office towers and multiple retail podiums in Central.

Integrated pedestrian connectivity through elevated walkways and underground malls.

One of Asia’s highest-rent office districts.

The refurbishment focuses mainly on retail podiums within this office ecosystem, rather than full reconstruction of office towers.

Timeline / Revamp Period

Start: Phase 1 began Q3 2024.

Implementation: phased refurbishment while buildings remain operational.

Expected duration: about 3 years.

Completion target: around 2027 for the full program.

During this period:

retail tenants will relocate temporarily within the portfolio,

rental income may dip due to disruption but is expected to recover afterward.

Investment / Costs

Developer investment

HK$3.1 billion (~US$400 million) by Hongkong Land.

Tenant investment

~US$600 million by luxury brand tenants redesigning their flagship stores.

Total combined investment

More than US$1 billion (≈HK$7.8 billion) across the portfolio.

Expected Commercial Impact

Hongkong Land expects the refurbishment to:

Increase retail rents by ~20–25% once upgraded spaces open.

Strengthen Central’s luxury positioning globally.

Support long-term tenant retention and premium brand clustering.

However, short-term rental income is temporarily reduced due to tenant movements and renovation works.

(Reported by Building.hk)

(Photo: Hongkong Land)