Development Projects Completed The following development projects were completed during this financial year: Group’s Interest Site Gross Gross Area Floor Area Floor Area Location (sq.ft.) (sq.ft.) Purpose (%) (sq.ft.) HONG KONG 1 Tai Po Town Lot No. 161 982,194 724,174 Residential 90.10 652,481 (The Beverly Hills – Phases 1 & 2) 2 933 King’s Road 16,744 138,373 Commercial/ 100.00 138,373 (Royal Terrace) Residential 3 Tseung Kwan O 359,883 2,932,813 Commercial/ 24.63 722,352 Town Lot Nos. 57 and 66 Residential (Park Central – Phases 1 & 2) 4 2 Kwun Tsing Road 456,964 1,249,560 Commercial/ 25.00 312,390 So Kwun Wat Residential Castle Peak Road (Aegean Coast) 5 198 Yee Kuk Street 5,218 39,113 Commercial/ 100.00 39,113 (City Regalia) Residential 6 99 Tai Tong Road (Note 1 below) 532,802 Residential 44.00 234,433 Yuen Long (Sereno Verde – Phase 2) (Blocks 13, 15 & 16) (La Pradera – Phases 3 & 4) 7 8 Fuk Lee Street (Note 2 below) 878,705 Residential 73.02 540,492 (Metro Harbour View – Phase 1) 8 8 Finance Street (Note 3 below) 1,951,621 Office 36.55 713,317 (Two International Finance Centre) 9 3 Kwong Wa Street 17,297 159,212 Commercial/ 100.00 159,212 (Paradise Square) Residential 3,512,163 Note 1: The site area for the whole of Sereno Verde is 380,335 sq.ft. Note 2: The site area for the whole of Metro Harbour View is 228,595 sq.ft. Note 3: The site area for the whole of Airport Railway Hong Kong Station Development is 614,700 sq.ft. Paradise Square, Mongkok This is one of the Urban Renewal Authority projects participated by private property developers which is developed into a 34-storey residential tower over a podium consisting of 4 levels of shops and 4 carparking levels with 72 carparking spaces. It was completed in June 2003 with a total gross floor area of approximately 160,000 sq.ft.. 18 HENDERSON LAND REVIEW OF OPERATIONS Projects under Sale The Group has commenced sale of the following completed development projects: Site Gross Group’s Area Floor Area Interest Location (sq.ft.) (sq.ft.) Purpose (%) HONG KONG 1 28 Lo Fai Road 283,200 226,561 Residential 100.00 Tai Po (Casa Marina I) 2 1 Lo Ping Road 228,154 182,545 Residential 100.00 Tai Po (Casa Marina II) 3 1-98 King’s Park Hill Road 168,392 241,113 Residential 62.14 (King’s Park Hill) 4 3 Seymour Road 17,636 185,295 Commercial/ 63.35 (Palatial Crest) Residential 5 8 Hung Lai Road 162,246 1,478,552 Residential 50.00 (Royal Peninsula) 6 99 Tai Tong Road 380,335 1,141,407 Residential 44.00 Yuen Long (Sereno Verde – Phases 1 & 2) (La Pradera – Phases 3 & 4) 7 8 Tung Chung Waterfront Road 228,896 1,195,817 Commercial/ 20.00 Tung Chung Residential (Seaview Crescent – Blocks 1 to 3 & 5) 8 933 King’s Road 16,744 138,373 Commercial/ 100.00 (Royal Terrace) Residential 9 Tseung Kwan O Town Lot 359,883 2,932,813 Commercial/ 24.63 Nos. 57 and 66 Residential (Park Central – Phases 1 & 2) 10 2 Kwun Tsing Road 456,964 1,249,560 Commercial/ 25.00 So Kwun Wat Residential Castle Peak Road (Aegean Coast) 11 8 Fuk Lee Street 228,595 1,714,463 Residential 73.02 (Metro Harbour View – Phases 1 & 2) 2003 ANNUAL REPORT 19 Projects under Sale (cont’d) Site Gross Group’s Area Floor Area Interest Location (sq.ft.) (sq.ft.) Purpose (%) THE PEOPLE’S REPUBLIC OF CHINA 1 Lot HR-2 256,549 1,236,127 Residential 65.45 Li Wan District Guangzhou (Metro Line One – Changshou Road Station) (Heng Bao Garden) 2 Phase VIII of 1,689,145 2,576,058 Retail/ 16.36 Lexi New City, Residential/ Shajiao Island, Carparks/ Panyu, Guangdong Club (Fanghua Garden – Luotao South Zone Villa) 3 Phase IX of 1,805,718 682,621 Residential/ 16.36 Lexi New City, Club Shajiao Island, Panyu, Guangdong (Green Island House ) During the financial year, the Group replenished its land bank in Hong Kong by acquiring the following development site: Group’s Interest Site Gross Gross Area Floor Area Floor Area Location (sq.ft.) (sq.ft.) Purpose (%) (sq.ft.) HONG KONG Residential portion of the 130,517 978,875 Residential 27.00 264,296 Development of the Remaining Portion of Kowloon Marine Lot No. 102 Royal Terrace, North Point This 100%-owned project of the Group was completed in August 2002 with a total G.F.A. of approx. 138,000 sq.ft.. It has a 31-storey residential tower being built over one level of shops and 3 storeys of carparking facility. 20 HENDERSON LAND REVIEW OF OPERATIONS Progress of Major Development Projects HONG KONG 1 96-116 Hollywood Road/1-27 Bridges complex and approximately 140,000 sq.ft. of Street/15 Shing Wong Street open space. (Group’s interest – 100.00%) The site is planned to be developed into two The development is being implemented in residential towers with a total gross floor area phases. The Southern Site Development of approximately 277,000 sq.ft.. Foundation consists of the 38-storey One International work has been completed and the Finance Centre office tower of approximately development is expected to be completed in 780,000 sq.ft. of Grade A office space and the late 2005. IFC Mall consisting of approximately 131,000 sq.ft. of retail space. This first phase of the 2 14-16 Shipyard Lane development was completed in late 1998. The (Group’s interest – 75.00%) second phase, or Northern Site Development, The site is planned for a residential includes the 88-storey office tower which was development over two levels of shops and a completed in May 2003 accommodating 2-storey carpark, with a total gross floor area approximately 2,000,000 sq.ft. of Grade A of approximately 86,000 sq.ft. and 37 office space which has become a major carparking spaces. Foundation work has been landmark building on the new central completed and the development is expected waterfront and is the tallest building in Hong to be completed in 2004. Kong and the third tallest building in the world. The tower has been designed by world 3 19-21 Wong Chuk Hang Road renowned architect Cesar Pelli & Associates Inc (Group’s interest – 50.00%) in association with Rocco Design Limited. The The site is planned to be developed into office tower includes the 14 floors to be business usage. The development will have a purchased by Government for use by the Hong total gross floor area of approximately Kong Monetary Authority. The second phase 214,000 sq.ft.. of the retail complex in the Northern Site will be completed and opened in the last quarter 4 Airport Railway Hong Kong Station of 2003 and will result in a total retail gross Development (Group’s interest – 36.55%) floor area of approximately 640,000 sq.ft.. This is a major commercial development of approximately 4,477,000 sq.ft. and is located The hotel complex consists of a 31-storey 6 above the Airport Railway Hong Kong Station star hotel tower and a 39-storey suite hotel in the heart of the Central Business District. tower and will be operated by Four Seasons The development consists of two office Hotels & Resorts. Spectacular harbour and city towers, a 3 to 4 storey retail and entertainment views can be enjoyed from all rooms. The hotel complex, a 1,000 room six star and suite hotel complex is scheduled for completion in late 2004. 96-116 Hollywood Road, Sheung Wan This Group’s 100%-owned site is planned to be developed into two residential towers with a total gross floor area of approximately 277,000 sq.ft.. Foundation work has been completed and the development is expected to be completed in late 2005. 2003 ANNUAL REPORT 21 Progress of Major Development Projects (cont’d) The development will also provide 1,341 7 223-231 Wai Yip Street/ carparking spaces in the basement. The 39 King Yip Street Airport Railway Station and associated 450 (Group’s interest – 88.50%) carparking spaces are also provided in the The site is planned to be developed into two basement. The Airport Railway Station 19-storey and one 18-storey office towers over carparking spaces were opened in July 2002. a 2-level podium comprising commercial and The remaining carparking spaces will be office space and 2 basement carparking levels. opened with the office and retail The whole development will provide a total development in the second half of 2003. gross floor area of approximately 1,091,000 sq.ft. and 445 carparking spaces and the 5 Sai Wan Ho Ferry Concourse, Inland Lot Group’s attributable gross floor area is No.8955 (Group’s interest – 63.49%) approximately 966,000 sq.ft.. The site is planned to be developed into five residential towers with a total gross floor area 8 88 & 92 King Lam Street/ of approximately 1,410,000 sq.ft.. The 59 & 61 Wing Hong Street development will also provide 500 private (Group’s interest – 100.00%) carparking spaces approximately, as well as The site is planned to be developed into a 200 public carparking spaces. Superstructure hotel building with about 660 guest rooms. construction work is in progress and the The development will have a total gross floor development is expected to be completed in area of approximately 298,000 sq.ft.