HKRI – Marking Their 40th Year Milestone
香港興業國際－40周年里程碑印記
The developers who created Discovery Bay look ahead to a brighter future. 愉景灣項目發展商邁向光輝的未來。
HKR International Limited (HKRI) is famed for creating Hong Kong's largest private residential complex—discovery Bay—40 years ago, and they have not slowed down since. Expanding into a host of other opportunities including real estate, hospitality, commercial property and even healthcare, the company seems on the path to reaching even farther heights.
This year, the Group celebrates its 40th anniversary, as well as the completion of its ambitious, nearly RMB 18 billion, HKRI Taikoo Hui project that is set to transform Shanghai's Jing'an district. Following our previous issue's discussion of the Group's journey thus far, we continue conversing with deputy chairman and managing director, Victor Cha Mou Zing, on HKRI'S vision for the future.
香港興業國際於40年前，建造了香港最大的私人住宅項目愉景灣，自此集團發展步伐一直沒有停下來。於住宅地產項目以外，香港興業先後進軍了酒店、商廈以至醫療保健業務，專心迎向未來更遠的路。
今年集團慶祝成立40周年，同時亦是集團總投資額接近180億元人民幣、必定為上海靜安區帶來翻天覆地變化的合營項目太古匯竣工之年，充分顯示集團的雄心。於這一期，我們將會繼續與香港興業副主席兼董事總經理查懋成，討論集團的未來願景。
What are your views on China's property market? 你對中國房地產市場的情況有何見解？
With a huge population of 1.4 billion and strong estimated GDP growth of over 6.5% in 2018, China's property market is still growing.
HKRI has a balanced portfolio of residential and commercial property, and geographically, we are pursuing a ‘onethird' strategy. That is, one-third for Hong Kong, one-third across the rest of Asia and one-third in mainland China, developing the Greater Yangtze River region. 中國內地擁有龐大的14億人口，預計2018年國內生產總值增長逾6.5%，其物業市場 亦欣欣向榮。
香港興業國際擁有涵蓋商住物業的平衡投資組合，又按地理實行「三份之一」策略，即三份之一投資在香港，三份之一在亞洲各地，而三份之一在中國內地，並集中在大長江三角洲地區發展。
The developers who created Discovery Bay look ahead to a brighter future.愉景灣項目發展商邁向光輝的未來。
What will HKRI bring to the mainland Chinese market?香港興業國際對中國內地市場會有甚麼貢獻呢?
Big things are happening on the mainland. Our flagship project is the new mixed-use development project called HKRI Taikoo Hui. Representing a total investment of nearly RMB 18 billion, it is a 50:50 joint venture with Swire Properties.
Located in a prime location, when it opened in November 2017, it already had an occupancy rate of 87% for office space and 96% for retail. With a total gross floor area of 323,000 square metres, it includes a mega shopping mall, two office towers, two hotels and a serviced apartment tower, as well as Cha House—a 100-year-old historic building that was originally the mansion of a wealthy family which later became a secondary school.
Cha House was originally located in the middle of the new development. Instead of demolishing it, we chose to make it an integral part of the ground plan.
That meant moving it some 57 metres across the site. That's a rare feat and not a typical consideration anywhere else in Asia's property sector.
As well as being a milestone in mixed-use projects, HKRI Taikoo Hui is a symbol of our vision and long-term commitment to mainland China's market. It demonstrates that we aren't only focused on property development but also investing in commercial and mixed-use properties for a diversified portfolio.
At the same time, we have a number of residential projects in the Yangtze River area, such as City One and Rivera One in Jaixing, the Oasis One in Hangzhou, and the Elite House in Shanghai. We acquired two sites in Jiaxing in late 2017 and early 2018, and we've won many awards for the quality of our projects.
中國內地有許多重要的事情在發生，我們在內地的全新旗艦綜合用途發展項目是興業太古匯，總投資額達180億人民幣，是我們與太古地產合資項目，各出資一半。
位處優越地段的興業太古匯，總建築面積達323,000平方米，包括一個大型商場、兩幢寫字樓、兩家酒店及一幢服務式住宅大樓，以及具百年歷史的查公館，公館原屬於一個富裕家庭，後改建為中學。
查公館原本位處項目正中心，我們選擇將其納入發展計劃之中，而不是把它拆卸，我們把公館移到約57米外，這實在是一項壯舉，亞洲房地產界很少會作出這樣的決定。
興業太古匯不單是一項綜合用途項目，更代表我們對中國內地市場的願景和長遠的承諾，展示我們並非只集中住房項目，更會投資在商業及綜合用途物業，以達致多元化的投資組合。
同時，我們在長江流域一帶也有不少住宅項目，包括位於嘉興市的御緹灣和璟頤灣、杭州的耦園，以及上海的中山學林苑，更在2017年底至2018年初購入嘉興市的兩幅用地。我們的項目亦曾贏過無數獎項。
The Chinese government is going to develop the Greater Bay Area. Is this an opportunity for HKRI to grow the business? 中國政府正推動大灣區發展。香港興業國際業務有沒有增長的機會呢？
There is definitely a lot of excitement surrounding the Greater Bay Area and for very good reasons. In a report exploring the opportunities it will bring for local enterprises and residents, PWC pointed out that the total GDP of Guangdong, Hong Kong and Macau was equivalent to approximately 14% of the national economy. That makes the region “as rich as a country” in terms of economic size and population.
Discovery Bay is located in the northeastern part of Lantau Island, very close to where the Guangdong-hong Kong-macao Bridge comes ashore. It will undoubtedly benefit from closer connections with mainland China and Macau but so will the rest of Hong Kong. That includes the CDW Building in Tsuen Wan, which is well positioned to tap into this huge infrastructure project, and will enjoy even better connectivity with the Pearl River Delta and Macao when the bridge opens.
PWC also noted that the Greater Bay Area has a prosperous hospitality and tourism industry, healthcare, insurance, finance and real estate development sectors, and automobile and home appliance manufacturing. These are all excellent indicators for success and maps closely onto HKRI'S business footprint. We will closely monitor the situation and look for ways to blend our projects into the way the area develops.
環繞大灣區的發展實在令人感到興奮，普華永道在一項研究大灣區對當地企業和居民開創機遇的報告中指出，廣東、香港和澳門地區的國內生產總值已相等於全國國民經濟約14%，令大灣區的經濟規模和人口像「一個國家般富裕」。
愉景灣座落於大嶼山東北部，非常靠近港珠澳大橋上岸的地點，毫無疑問當大橋啟用時，愉景灣將會受惠於與中國內地及澳門的緊密連繫，而且整個香港亦會受惠，包括位於荃灣的中國染廠大廈，其地理位置正好利用這龐大的基建設施，加強與珠三角及澳門地區的連繫。
普華永道的報告亦指出，大灣區的酒店及服務式住宅、旅遊、醫療保健、保險、金融、房地產發展、汽車、家電製造業等發展蓬勃，這些都是成功的上佳指標，並與香港興業國際足跡緊密相連。所以我們會密切注意其發展，並尋求方案將我們的項目融入大灣區的發展模式。
What is your advice on running a successful property business? Could you share some trade secrets with us?對經營一盤成功的地產生意，你有甚麼建議呢？可以跟我們分享當中的竅門嗎？
The property industry is certainly challenging. My father, Dr. Cha, famously said, “Our family has been in textile and agriculture. One year running a textile plant is like five years in the fields.” Now, with us moving on to property development, one year running the business is like five years running a factory.
HKRI has never been a property developer in the traditional sense. What we do is ‘Create a Lifestyle'. Today, the HKRI brand has come to embody high-quality, stylish living that embraces comfortable accommodation, smart working, fine dining and most important of all, good health.
It is our goal to bring positive changes to the communities in the places where we operate, both for the short- and longterm. Indeed, with Discovery Bay, we had pioneered many concepts that are now commonplace in Hong Kong residential complexes.
The last 40 years have been a remarkable journey, filled with excitement and satisfaction, and more than a few difficult moments. With respect and a passion for innovation—shown clearly in projects such as Discovery Bay and HKRI Taikoo Hui—we overcame it all by always working as a team and embracing change, becoming stronger and wiser in the process.
房地產業充滿挑戰，家父查博士曾經說過：「我們的家族曾經從事紡織業及農業，在紡織廠工作一年相等於在田裡工作五年。」現時，香港興業進軍地產業，經營一年彷彿等於經營了五年紡織廠。
香港興業國際並非是傳統的物業發展商，我們是在「創造獨特的生活方式」。今天，香港興業國際這個品牌已是優質的代表，涵蓋舒適居停、高效工作模式、高級餐飲，最重要的是以健康為本的時尚生活。
我們的宗旨是為我們營運的社區帶來積極的改變，不論是短期還是長期。事實上，我們在愉景灣推出許多新概念，現在已普遍地應用在香港的大型住宅項目之中。
過去40年是一段十分精彩的旅程，滿載興奮和成功感，亦有不少困難時刻。我們尊重創意，力求創新，這兩點都體現在愉景灣和興業太古匯項目之中，所以我們團隊能上下一心，跨越障礙，擁抱改變，在這過程中我們變得愈來愈強大及明智。
HKRI is celebrating its 40th anniversary. Which project or development has been the most successful for the company and why?香港興業國際慶祝40周年。你認為眾多發展項目中哪一個最成功呢？原因何在？
That's like asking a parent which child is their favourite! Seriously, every project is important to us, and that approach has produced many successes and built an excellent reputation for HKRI in the market.
Having said that, I can tell you that Discovery Bay has certainly been one of the highlights. Within 40 years, we have created a unique and vibrant community virtually from scratch. Another high point is definitely HKRI Taikoo Hui—an RMB 18 billion mixed-use project in the heart of Shanghai which is closely tied to the economic development and lives of local citizens.
We also have some luxury projects in Hong Kong. One of these is La Cresta in Sha Tin, with one unit comprising of two apartments and a portion of the roof selling for over HK$100 million. Another great project in the making is our development on Lo Fai Road in Tai Po which is now underway.
這是在問父母喜歡他們哪一個孩子！說認真的，對我們來說，每個項目都是重要的，正因如此，我們打造了無數成功的項目，令香港興業國際成為業界的翹楚。
儘管這是事實，但我還是要說愉景灣是我們最具特色的項目，在40年間，我們從零開始，打造了一個獨特而又活力充沛的社區；另一個高峰，相信是在上海心臟地帶耗資180億人民幣興建的興業太古匯綜合用途項目，這個項目與當地經濟發展及民生緊密相連。
我們在香港也有一些豪宅項目，其中一項是位於沙田的尚珩，一個單位等於兩家公寓加上部份天台面積，售價逾1億港元；另一個正在進行的發展項目是位於大埔的露輝路。
What is HKRI'S plan for the coming five to ten years?在未來5至10年，香港興業國際會有甚麼發展大計呢？
Simply put, our plan for the next decade is to maintain a balanced portfolio of residential and commercial property—short-term sales and long-term investment. In terms of geography, the mix will be one third in Hong Kong, one third in China and one third across the rest of Asia.
In mainland China, that means maintaining a focus and sourcing good locations in the Greater Shanghai region, where we already have a strong brand and reputation. We have strategically diversified our portfolio and built land banks across Asia. At the same time, we are continuously exploring opportunities in markets with fewer restrictions that offer more flexibility and possibilities.
We also have a good foothold in other Asian property markets, such as Thailand and Japan, which we intend to leverage for future success. Last but not least, we aim to deepen our diversification into the hospitality and healthcare industries in line with our motto—'we Create a Lifestyle'.
簡單地說，我們下一個10年計劃無論是短期或長線投資，重點都是在於維持商住業務這個平衡的投資組合。至於地域方面，仍然是三份之一在香港，三份之一在中國內地，以及三份之一在亞洲其他地方。
在中國內地，我們仍然會集中在大上海區物色合適的地點，因為我們的品牌在該區十分有名，而且信譽良好。我們有策略地分散投資和在亞洲建立土地儲備，同時，我們繼續發掘限制較少、更富彈性及更具可塑性的市場所提供的機會。
我們亦立足於亞洲其他地產市場如泰國及日本等，未來亦打算繼續利用這些市場延續我們成功的投資策略。最後，我們會繼續作多元化的發展，以我們的格言－ 「締造獨樹風格的生活」－ 拓展酒店及服務式住宅和醫療保健業務。