The Landmark building, hub of Hong Kong’s financial district and the retail heart of Central, will be the site of further major investment including a new luxury hotel

The London-listed company, a leading property and infrastructure investment, management and development group, will further enhance the Grade A office tower and luxury retail space currently provide at the complex.

Plans include conversion of the Edinburgh Tower at The Landmark into a 118-room luxury hotel to be managed by Mandarin Oriental Hotel Group. Executive director of Hongkong Land Raymond Chow said that as the number of hotel rooms in Central has diminished in recent years, "there is room for some additional room inventory''.

This major renovation reflects ongoing investment in The Landmark. A few years ago, its atrium was remodelled with the addition of a "spectral glass canopy'' created by American artist James Carpenter. The glass panels refract light and create a mosaic of colours.
 
In 1998, the retail podium of Prince's Building was renovated and development of the office and retail tower Chater House (topped out in 2001) undertaken. Upmarket Italian brand Giorgio Armani opened one of its largest stores in the world at Chater House last October. In March, Hong Kong Securities and Futures Commission leased office space in the tower.

Mr Chow said the planned improvements to The Landmark, developed in 1980, were "aimed at strengthening The Landmark and core Central as a luxury shopping area''. In addition to a new luxury hotel and office tower, the retail areas are being given a facelift including a luxury department store and two more retail floors to be added around the atrium. Pedestrian and vehicle access to and within the development will also be improved.

Mr Chow said the company has adopted a "positive medium-term outlook for Grade A space in core Central''. He foresees improving future demand for well-located, well-managed Grade A premises.

The London-listed company owns and manages about five million square feet of office and retail space in Central. The bulk of its tenants are banking and financial services firms. In terms of infrastructure, it has interests in the container port, water treatment and toll roads.

Work on the upgrade is expected to begin later this year. Most of the work is scheduled for completion between 2004 and 2005, with the office tower to be completed by end of 2006.

Related link:
Hongkong Land www.hkongland.com