HKR International looks to deepen regional presence
HKR International, a Hong Kong property conglomerate which opened its flagship HKRI Taikoo Hui retail, office and hotel complex in Jing'an District in 2017, will remain committed to the Chinese mainland market as it continues to seek opportunities to deepen its presence in the Yangtze River Delta region.
First tapping the Chinese mainland property market in 2000, the Hong Kong-listed developer's current business on the Chinese mainland is particularly focused on Shanghai and Jiaxing, and Hangzhou in neighboring Zhejiang Province.
"Besides developing residential projects in Jiaxing and Hangzhou, we have been actively looking for opportunities to tap new markets in the region, including Suzhou, Nanjing and Ningbo," said Violet Lam, general manager of business development & marketing for HKRI's Chinese mainland operation. "Moreover, we are very much interested in acquisition opportunities for high-quality office and retail projects in top-grade Chinese cities such as Shanghai and Hangzhou, with the latter being the host city of the upcoming 2022 Asian Games."
HKR International became a household name in Shanghai about two years ago when the 17-billion-yuan (US$2.4 billion) HKRI Taikoo Hui was unveiled on Nanjing Road W. A 50-50 venture between HKR International and Swire Properties, the mixed-used project comprises a retail mall, two Grade-A office towers, two boutique hotels, one serviced apartment building and the "Cha House," a revitalized historic building.
In addition to HKRI Taikoo Hui, the company's local portfolio also includes Elite House, a luxury residential project near Zhongshan Park in Changning District. In Jiaxing, it has five residential development projects, including those under construction and in the pipeline. The company also has one residential development in Hangzhou and an office and retail project in Tianjin.