Since it was founded in the 1970s, the Henry Group – named after founder Henry Ng Chun For – has grown and diversified its property development and investment portfolio in Hong Kong.
In 2013, after a rebranding the group re-emerged as H Development Holdings Ltd, and today manages a portfolio of commercial buildings, retailers and residential properties. It also has a focus on “Ginza-style” developments – which follow the Japanese trend of having restaurants, bars and shops throughout the higher floors of the building.
“We are committed to adhering to the cornerstones of excellence, integrity, creativity and partnership that Henry Ng Chun For first laid out for us more than half a century ago”, said Chairman Eric Ng.
The outbreak of Covid-19 has put a damper on much of the global economy, but the real estate sector has held up reasonably well throughout the pandemic. Of the different sub-sectors within the property sphere, the residential sector has performed the best, owing much of its success to low interest rates and the continuing strong demand for housing in Hong Kong.
Ng said that with the improving Covid-19 situation and the development of the Greater Bay Area, he is optimistic for the prospects for the city’s economy.
“We believe the Hong Kong real estate markets will continue to improve, particularly in the commercial sectors and the residential markets due to their strong demand,” he said.
This confidence in the commercial real estate market led the group to launch a new project, Park Aura – an F&B focused Ginza-style mall in Tin Hau – in early December 2020, as the city was experiencing its fourth wave of Covid cases.
The company had to think of new ways of operating amid the pandemic uncertainty. As finding qualified tenants to fill the ground and first floor of the shopping centre would prove to be a difficult task due to the pandemic restrictions, the group decided to introduce the concept of a “Food Loft” in the space instead.
The idea proved to be a success, as the two floors are now filled with 13 different food and beverage outlets for diners to indulge in a variety of local and international cuisines.
The second floor hosts a “Feast Market” offering everything from local artisan ice cream to imported frozen meat. Meanwhile, the 22nd floor functions as a rental space for private and corporate events, cooking classes, dining functions and other occasions.
Looking to the future, H Development Holdings aims to focus on developing more commercial properties in the core business districts in Hong Kong. For example, a new commercial project, Health Aura, located next to St Paul’s Hospital in Causeway Bay, is set to be completed in April 2022, Ng explained.
“We are also developing a mixed-use commercial complex in the heart of Tsim Sha Tsui, and our target completion will be in April 2023,” he added.
With its sights firmly set on Hong Kong’s recovery, H Development Holdings decided to join HKGCC to build relationships with our members, who are “strong corporations, from multinationals to SMEs as well as local and international senior officials,” said Ng. “We believe HKGCC is able to help us expand our network and bring new business opportunities to our group by participating in the Chamber’s different events.”
Company : H Development Holdings Ltd
HKGCC Membership No. : HKH0933
Established : 2013
Website : www.hdevelopmentholdings.com