MENU

5 Things You Should Know About Hong Kong Land

HklandlogoThe final, Straits Times Index thoroughbred to gallop out of the Jardine Matheson stable is Hongkong Land Holdings (HK Land) (SGX: H78).

Founded in 1889, by prominent businessmen Sir Paul Chater and James Johnstone Keswick (then Tai-Pan of Jardines) the new development company was named The Hongkong Land Investment and Agency Company Limited.

Today, it’s known as HongKong Land and one of Asia’s longest established property investment, management and development groups with premium commercial and residential property interests in Hong Kong, Thailand, Vietnam, Indonesia and China, as well as Singapore and Malaysia, giving shareholders great geographical diversification.

It owns 450,000sq.m of commercial land in Hong Kong’s Central Business District with sister company, Jardine Strategic Holdings having a 50% stake in the company.

Looking closer to home, the company also owns MCL Land, a Singapore listed developer that works on mid to high-end business and residential projects in Singapore and Malaysia.

Together, they have developed One Raffles Link (and its retail component Citylink Mall) and One Raffles Quay and have a major interest in the Marina Bay Financial District, as well as the luxury residential projects of Marina Bay Residences and Marina Bay Suites.

But did you know…

  1. One of HK Land’s first undertakings was the Praya Reclamation Scheme in Colonial Hong Kong in 1890. One of the earliest and best-known land reclamation projects, it added 50-60 acres (240,000m2) of land to Hong Kong along a new waterfront road named “Chater Road” (which has since become a core element of Hong Kong’s Central district).

 

  1. In 1898, Jardines helped to establish Hong Kong’s famous Star Ferry Company.

 

  1. It’s said that in 1890, Sir Paul Chater, upon being convinced by a local councillor that Hong Kong should have electricity, secretly acquired a graveyard in Wan Chai and built one of the earliest power stations in the world. He was subsequently an informal member of the executive council of the Hong Kong Electric Company.

 

  1. In 1970, HK Land paid a record HK$258m at public auction for an important new reclamation site to build the 52 storey Connaught Centre, Hong Kong’s largest and most advanced office block. It was renamed Jardine House in 1989.

 

  1. Sir Paul Chater played for the Hong Kong Cricket Club first eleven, and was a thoroughbred horseracing enthusiast. He reportedly never missed the weekly races at Hong Kong’s Happy Valley Racecourse in 60 years.

What’s more, in addition to numerous projects in Malaysia, MCL Land is responsible for Singapore residences including: Parvis, Hillcrest Villa, Fernhill, Calrose, Metz and Waterfall Gardens.

Looking to the future, MCL Land has also recently completed its acquisition of land at the Jurong Gateway site, and won the tender at Jurong West Street 41, for further residential developments.

Click here now for your FREE subscription to Take Stock Singapore, The Motley Fool’s free investing newsletter. Written by David KuoTake Stock Singapore tells you exactly what’s happening in today’s markets, and shows how you can GROW your wealth in the years ahead.

Like us on Facebook  to keep up-to-date with our latest news and articles. The Motley Fool’s purpose is to help the world invest, better.

The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Alison Hunt doesn’t own shares in any companies mentioned.