Henderson Land Development
Henderson Land Development Co. Ltd. (HK stock code 0012) is a Hong Kong-based property company and constituent of the benchmark Hang Seng Index. Henderson Land focuses on property development and investment, project management, construction, hotel operation, department store operation, finance, investment holding and infrastructure.
Henderson seeks to do luxury development justice
In the interest of heritage education and preservation, developer Henderson Land and sister company Town Gas have jointly donated HK$100,000 to run more public open days for Victoria Prison, the Central Police Station and the Central Magistracy. But why the sudden philanthropy? Could it have anything to do with angry neighbours who are upset with Henderson's Centre Point development project in Staunton Street?
You see, the Urban Renewal Authority wants to redevelop the area, and flat owners, having lived for years in the rundown area, are finally seeing dollar signs. But naughty Henderson is fighting tooth and nail in court to exclude its luxury Centre Point site, which takes up a good portion of the land covered by the redevelopment plan, from being included in it.
If Henderson has its way, the authority might withdraw its plan, and that's why the flat owners are seeing red.
Henderson is planning to sell Centre Point flats for more than HK$10,000 per sq ft, though the site is still a construction wasteland. Any sales of uncompleted flats would further frustrate the authority because property rights would get even murkier. The authority, understandably, has not started buying properties in the area, pending the outcome of the court case.
Speaking to a Post colleague, Henderson general manager for sales Tony Tse Wai-chuen insisted the company had an excellent relationship with residents. 'Our relations are good,' he said. 'They have some safety concerns about the building site and about the redevelopment plan; so do we!'