Hongkong Land’s CEO, Michael Smith, recently outlined the company’s strategic objective to recycle up to $10 billion in capital over the next decade. This ambitious plan coincides with the airing of a new program titled “The China Connection,” which will broadcast Monday to Friday from 10:00 to 11:00 Singapore/Hong Kong time, or 04:00 to 05:00 Central European Time (CET).
Michael Smith underscored how the City needed to revitalize capital market activity in Hong Kong. This economic revival is important to strengthening the real estate industry as well. Looking ahead, he said, increasing economic changes and an evolving marketplace are creating challenges but open doors for property management companies.
In a trail-blazing development, Hongkong Land has finally managed to sell the office and retail spaces in One Exchange Square. Hong Kong Exchanges & Clearing So who’s the buyer of this prime Manhattan real estate? This organization—one of the nation’s eight federal spaces of their kind—has become a driving force behind the region’s thriving economic landscape. This transaction is further evidence of robust confidence in the property market. It strengthens Hongkong Land’s long-term strategy to enhance its asset mix.
Smith explained that the proceeds from the sale could now be used as initial capital, or a “catalyst fund” for investments and development. The firm is passionate about recycling capital. This approach will help it to reinvest in the most promising projects and sharpen its competitive edge in an increasingly market-oriented environment.
The China Connection — the East-West Center’s long-running, award-winning resource for smart, concise analysis of economic trends, business developments and market opportunities coming out of China and the Asia-Pacific region. The program seeks to engage audiences by delivering timely information that can influence investment decisions and business strategies.