Hong Kong Central Harbourfront Site 3 links the Central business district and the Star Ferry piers, between IFC 2 tower and the Central Harbourfront Event Space. The 516, 312 sq ft site can be developed to a maximum of close to 1.6m sq ft, alongside at least 269,000 sq ft of public space. Unusually for Hong Kong, height restrictions mean no building will be more than 50m tall. Henderson said it will invest HK$63m in developing the site, which will be completed in two phases, by 2027 and 2032.

This might seem like the usual story for Hong Kong, with a big-name developer paying a huge price for a prime site, but, for the first time, the government insisted on a design-led approach, with all bidders having to submit design proposals as well as financial bids.

Simon Smith, head of Asia Pacific research & consultancy at Savills, says: “This is the most important development site to have emerged for a number of years and its high profile means that its successful execution will substantially enhance Hong Kong’s image. When completed, this development will be on every snapshot and postcard of the city.

“The Development Bureau has taken an important step in insisting on good design, walkability, sustainability and use of open space. These principles should be part of every development in Hong Kong, if the city is to remain one of the world’s most important business and leisure destinations.”

Henderson Land has committed to creating a “world-class iconic landmark” with a “vast amount of green and public space”. The developer said it would create more than 300,000 sq ft of public open space, which will be accessible at all times. It claims the project will set a new benchmark for sustainable development, “liveability, well-being, zero carbon, connection, and a sustainable community”.

Smith says: “Hong Kong needs more net zero carbon projects to meet its pledge for carbon neutrality by 2050, so there is an opportunity for this project to be a flagship in more than just scale and location. The city has face just criticism for developments which lack sustainability and liveability.

“Site 3 can set a benchmark for other new developments over the coming decade, but it is important that we don’t just say these standards are only for the largest and most prestigious projects. Every development can be part of a more liveable and sustainable city.”

Further reading:
Savills Hong Kong

Contact:
Simon Smith