11-12 Headland Road

Review of Operations – Business in Hong Kong • Land Bank
(III) Property sales
programme
In 2011, the Group plans to embark on the
sales launch of a number of residential
developments including The Gloucester in
Wanchai, 58-66 Boundary Street in
Mongkok and La Verte in Fanling.
Together with the completed stocks and
other projects pending sales, a total of over
1.69 million square feet in attributable
residential gross area will be available for
sale. Meanwhile, significant portions of
the attributable GFA of 1.78 million square
feet from the above 23 urban redevelopment
projects of old buildings in which entire or
majority ownership is already held, and of
the total attributable GFA of 2.69 million
square feet from the projects at Wu Kai
Sha, Ma On Shan and Tai Tong Road,
Yuen Long, are expected to be ready for
pre-sale at the earliest in 2012 and 2013. In
addition to the above newly-acquired
urban redevelopment projects of old
buildings, the Group had a total of 9
existing projects under redevelopment or
conversion into other purposes which
would provide about 1.84 million square
feet in attributable gross floor area for
commercial and residential use in the
urban areas as noted below:
Expected year of sales launch
(million sq.ft.)
2011 2012 2013 2014 or
onwards
Total
(million sq.ft.)
1 Stocks and other projects pending sales 1.69 – – – 1.69
2 Newly acquired urban redevelopment projects of
old buildings (Note)
3 Existing urban redevelopment projects of old
buildings
4 Wu Kai Sha development project converted from
agricultural land
5 Tai Tong Road development project converted
from agricultural land
0.07 0.56 1.04 0.11 1.78
– – – 1.84 1.84
– 0.44 1.23 – 1.67
– 1.02 – – 1.02
6 Wo Shang Wai – – – 0.89 0.89
Total: 1.76 2.02 2.27 2.84 8.89
Note:
Completion of a redevelopment is expected to occur, on average, in the second year after the year in which the redevelopment is to be launched for pre-sale.
Henderson Land Development Company Limited
Annual Report 2010 49