In addition, 10 of the Landmark’s long-standing luxury tenants will stump up another US$600 million to more than double their footprints within this development, which is HKL’s largest property in Hong Kong, creating so-called “Maison destinations”. These brands include Cartier, Chanel, Dior, Louis Vuitton, Prada, Saint Laurent, Sotheby’s, Tiffany & Co and Van Cleef & Arpels, as they aim to continue growing sales within this mall even after a record 2023.
While Hongkong Land (HKL) is known for its portfolio of prime commercial properties in Hong Kong, it is also active in mainland China and Singapore. Through its subsidiary MCL Land, it has a strong track record in residential development, and HKL also holds stakes in key office assets such as the Marina Bay Financial Centre.
In recent years, the company has faced pressure due to political unrest in Hong Kong and the pandemic, with its share price dropping to a third of its peak. There are signs that HKL is positioned for a recovery. Last June, the company announced plans to spend US$400 million ($547 million) to transform Landmark, a mixed-development commercial complex in Hong Kong’s Central, with retail, office and hospitality offerings.
