Known as the largest landowner in Central, Hongkong Land owns a number of well-known commercial buildings in Hong Kong's core business district, including Exchange Square 1, 2nd and 3rd and Jardine House.


According to Hongkong Land's official website, the company is a reputable property owner, and pointed out that its properties are well located, of outstanding quality and extraordinary service. The company said it has 12 top-class commercial buildings connected by footbridges in Central, providing more than 484.45 million square feet (about <>,<> square meters) of Grade A office buildings and high-end retail stores.

The 12 properties include Jardine House, Landmark Midfield, Exchange Square Tower <>, <> and <>, Prince Building and Mandarin Oriental.

Leasing IncomeThe most important source of income for land acquisition. In the first half of the year, Hongkong Land generated US$5 million in income from investment properties and US$38 million from property development. However, the geographical contributions are not indicated separately.

The vacancy rate of its properties at the end of June was 6.6%

The company's first-half results briefing also pointed out that as of the end of June this year, the vacancy rate of office properties in Central District was 6.6%, and the overall office vacancy rate in Central District was 9.9% during the same period. The rent per square foot was $4, compared to $107 at the end of last year, and 111,50 square feet are expected to expire or need to be renewed in the second half of this year.

The company also pointed out that as at end-June this year, banking and other financial services were the largest tenants in Hong Kong's office portfolio, accounting for 6%, while legal and accounting accounted for 42% and 32% respectively. As for property trade, trading and other industries, they accounted for 8%, 5% and 2% respectively.

As for retail properties, the average square foot rent in the first half of this year was $204, compared to $181 at the end of last year, with a vacancy rate of 1.7%. Tenant sales grew 72% year-on-year. Strategic tenants accounted for 64% of the tenant mix, other retail brands accounted for 26%, and F&B accounted for 8%.

Exchange Square, sculpture by Zhu Ming. (Photo / Photo by Hong Kong 01 reporter Zheng Ning)

3 Exchange Squares in Central Offering $160 billion British Land: No plans to sell Central Property Land's largest investment in history Shanghai West Bund Financial City investment of US$80 billion Land development in three phases: Centricity Flex, a flexible office in Central, has a rental rate of over 90% Landmark: double-digit growth in digital technology investment every year