Hongkong Land and Luxury Retail Tenants to Invest Over $1 Billion in LANDMARK, Hong Kong

Hongkong Land has announced a significant investment of over $400 million to upgrade its LANDMARK retail portfolio in Central, Hong Kong. This is part of a broader plan that anticipates an additional $600 million investment from luxury retail tenants such as Cartier, CHANEL, Dior, Hermès, Louis Vuitton, and others.

The transformation project, "Tomorrow's CENTRAL," aims to create 10 world-class multi-storey Maison destinations by expanding and enhancing retail spaces. The project will begin in the third quarter of 2024 and conclude in phases over three years. During this period, LANDMARK will remain operational.

Hongkong Land's Group Managing Director, John Witt, expressed that this investment will secure Central's position as a premier retail, dining, and business hub. Michael Smith, Chief Executive of Hongkong Land, highlighted that the project would bolster tenant sales and retail income in the long term.

Key luxury brands have shown strong support for the project. Robert Calzadilla of Louis Vuitton and Jean-Baptiste Debains of Dior emphasized the importance of LANDMARK in their retail strategies. Additionally, the transformation aims for high environmental standards, employing sustainable materials and electric construction equipment.

Upon completion, LANDMARK will feature extensive luxury retail spaces, refined dining options, and enhanced connectivity within Central Hong Kong, making it a global leader in luxury shopping and lifestyle experiences.