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Hongkong Land Holdings, the largest landlord in the city’s Central business district, has appointed Mapletree Investments’ Michael Smith as CEO.
Smith, who is currently the regional chief executive for Europe and the United States at Singapore-based Mapletree, a global real estate development, investment, capital and property management company with more than US$55 billion in assets under management, will take over the role from April 1 next year, Hongkong Land said on Tuesday.
Smith will relocate from Singapore to Hong Kong with his wife and children.
“Michael brings a proven track record in real estate investment and capital allocation,” Ben Keswick, Hongkong Land’s chairman, said in a statement. “He has grown organisations by being an inspirational and caring people leader.
“Building on Hongkong Land’s pre-eminent capabilities, reputation and portfolio, I have every confidence Michael will evolve our business – ensuring we continue to invest, manage and develop prime commercial, retail and mixed-use assets, while at the same time, positioning the group for long-term sustainable growth in China and other key Asian markets.”
Hongkong Land is very closely linked to the Central business district, having lobbied Hong Kong’s former colonial government for the reclamation of 65 acres of seafront land from Victoria Harbour. Its “Central Reclamation” project gave the district its name.
Smith will succeed Robert Wong, who has been Hongkong Land’s CEO since 2016.
“I would like to thank Robert for his over 38 years of outstanding services to Hongkong Land,” Keswick said. He “has been instrumental to the development and execution of Hongkong Land’s mainland China strategy since the early 1990s”.
Wong will stay on as a senior adviser to ensure a smooth leadership transition, the company said.
Hongkong Land was founded by Sir Paul Chater and James Keswick, two Hong Kong businessmen, and is half-owned by Hong Kong conglomerate Jardine Matheson Holdings. The company invests across Asia.
One of Hongkong Land’s most notable buildings in the city is the 52-storey Jardine House in Central. A 1971 grant to the developer stipulated that no building directly north of the project would ever obstruct its view of Victoria Harbour, as quid pro quo for pumping a record HK$258 million (US$33 million) into the then colonial coffers for a 75-year land lease.
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Split screen tour shows the pace of Hong Kong’s transformation over 45 years
Split screen tour shows the pace of Hong Kong’s transformation over 45 years
Hongkong Land’s Home Fund, which has invested close to HK$110 million into different community projects, is also marking its third anniversary.
The fund “was established with a vision of empowering less-privileged young people in Hong Kong by supporting their upwards mobility and tackling the needs of people with housing challenges”, Wong said.
“As a company with deep roots in Hong Kong, Hongkong Land is dedicated to delivering a long-lasting, positive impact for the community.”
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