Staff reporter
Hongkong Land will invest US$8 billion (HK$62.4 billion) in West Bund Central in Shanghai, the developer's largest ever single investment and the first flagship project of its Central Series in the mainland.
The development located at the heart of Shanghai spans a total gross floor plan of 1.1 million square meters to provide a huge array of infrastructure for the people there.
The project includes residential development The Central Residences West Bund providing a total of 992 apartments before early 2025.
Grade A office space there will cover a total of 650,000 square meters.
Hongkong Land also cooperates with Mandarin Oriental Hotel Group to operate 300 serviced apartments, in addition to the two hotels owned by Mandarin Oriental.
A retail center with a total gross floor area of 10,000 square meters is to be built next to the residential development, and will include a Waterfront Mansion destination featuring Asia's first Landmark Retail Avenue.
"West Bund Central is the latest chapter in our 27-year history of developing the finest quality residences, offices, hotels and retail in the Chinese mainland," said Michael Smith, the chief executive of Hongkong Land.
"It also epitomizes our strategic pivot to focus on developing ultra-premium integrated properties in Asia's gateway cities.
"We are confident that it will become an extraordinary, globally renowned ecosystem for lifestyle and business, connecting and inspiring people for generations to come," he said.
