Prime Central Harbourfront Plot Awarded To Henderson

Henderson Land Development has won a prime commercial plot by the Central harbourfront, paying a record HK$50.8 billion for the site.

Analysts had expected the parcel, dubbed “land king”, to fetch between HK$37 billion and HK$55 billion. It attracted six bids, including from developers CK Asset, New World Development, and Sun Hung Kai Properties.

The government said only two bidders managed to pass its vetting criteria under a “double-envelope” approach, with the developers’ design proposals also taken into consideration.

The Development Bureau said the winning proposal was based on the idea of a bridge, and aimed to create a “world-class iconic landmark in Hong Kong, enhance the connectivity between the hinterland and harbourfront in Central, and create a vast amount of green and public spaces.”

Henderson Land proposed erecting three buildings, with the block closest to Victoria Harbour being multi-functional and the other two designated for offices.

The government says a green roof-level platform will connect the three buildings. This “urban forest” will provide a lawn, jogging routes and an outdoor space for public use.

The public open space in the plan will exceed the minimum requirement of 269,098 square feet, according to the government.

Henderson Land has also proposed building a pedestrian network linking existing routes in Central and the MTR.

The government said the whole project is required to be completed by December 2032.