Published
November 26, 2025
Henderson Land Development, one of Hong Kong’s leading property developers, has unveiled plans for a pathbreaking new office, retail, and entertainment project named Central Yards.
Tom Andrews, director, head of leasing and operations and Jay Liu, head of marketing – Michael Huard
This 8 billion dollar project will be built on reclaimed land with a retail mix that will feature brands without any previous exposure to Hong Kong and Chinese consumers, in an architecturally revolutionary setting.
Designed to completely disrupt the retail scene in the port city, Central Yards will boast over 1.6 million square feet of gross floor area, creating a global harbourfront icon for Hong Kong. Its first phase will open in mid-2027.
“Central Yards is born from our commitment and love for the city we call home. As a vibrant hub where the treasures of life- nature, culture, joy, and ambition come together, Central Yards turns Hong Kong into the world’s grandest stage for future generations,” said Dr Martin Lee Ka Shing, chairman of the Group.
Central Yards’ goal is to redefine the urban landscape of Hong Kong, with an unprecedented scale of open space and biophilic urban design- like its massive sky garden, an approximately 300‑metre-long elevated bio-diverse landscape, housing 400 trees and 280 plant species.
“The luxury market in Hong Kong, in my view, is oversaturated. So, effectively what Hong Kong customers are looking out for is something new and dynamic,” said Tom Andrews, Central Yards’ director, head of leasing and operations, at a soirée inside Grand Palais Immersif in Paris to launch the concept on Tuesday night.
“Hong Kong customers are arguably the best travelled customers on earth. They go everywhere. So, we plan 100 retail spaces opening two years from today, where every single brand will be new to the Hong Kong market. A lot of them we’re speaking [of] are not even in Asia. For some, it will be their first retail space in the world,” said Andrews, before a video display of the massive Central Yards won multiple wows from the audience of 200 guests, who then sat down to dinner by French fusion star chef David Toutain.
The concept cooking mirrored Central Yards’ dockside architecture under a huge sky. Hence, the first three courses were entitled Sea, Land, and Sky, meaning scallop tartare with consommé; brussels sprouts treated with Douglas fir oil; and poultry with water cress. All washed down sublimely by Puligny Montrachet and Rauzan Ségla Margaux.
Asked for a few names from his dream team of brands, Andrews responded: “Aimé Leon Doré, Kith, Polène, Toteme, Jacquemus, Alaïa, Merci… Amazing brands that aren’t really present in Hong Kong, if not Asia.”
Architecturally, the project’s core will be “The Bridge,” a ground-scraper spanning 400 metres along Victoria Harbour on the reclaimed land, which alone cost 2 billion dollars. The new horizontal skyline was envisioned by Henderson in collaboration with an international collective of renowned design and architectural studios- including Hong Kong’s Lead8; London-based AL_A led by Amanda Levete; the Netherlands’ UNStudio; California’s Peter Walker and Partners; and London’s Speirs.
A flashy video, created by happening social events company Dirty Monitor, showed a hyper vibrant setting, anchored by 12 outdoor event spaces enlivened by popup kiosks, cultural markets, and seasonal festivals. Central Yards will also include Hong Kong’s one-and-only private Broadway‑calibre theatre. A high tech yet plush space offering seating for over 1,100 guests to stage world‑class
performances, global premieres, and flagship concerts.
Depending on the exact location, Central Yards expects to generate annual rents of between 2,000 to 5,000 dollars per square-foot per year, which is comparable to Madison Avenue, though a little less than via Montenapoleone.
Certain to help generate traffic will be numerous food and beverage options- at least one third of the space- all able to roll out into outdoor spaces or terraces. Perhaps including Hong Kong’s Café Leone, which Time Out just named World’s Best Bar, and which served cocktails like a Filthy Martini at the soirée.
“Effectively, what we’re doing is we’re giving each client four walls. Where they own a little building within a building. Where architects can do anything they want and be as expressive or artistic as possible. A good reference is probably Miami Design District,” enthuses Andrews, an Englishman whose mother hails from Killarney in the Republic of Ireland.
Hong Kong is not exactly short of shopping opportunities, with major malls like IFC, Time Square, and K11 Musea; and more Louis Vuitton boutiques than in Paris. So, Central Yards’ goal will be to capture the emerging consumer, and not the usual Taitai, local slang for rich wives over 70.
“I actually created a concept in Hong Kong before, specifically targeted younger people- 20 to 30- called Below Ground in the basement of landmark throughout. And what we found was the kids would love it, then bring their parents and then their parents would come by themselves. So actually, I don’t want to restrict us to any age group in Central Yards, but 60 to 70% of visitors will be 20 to 50 year-olds… There’s been a big transfer of wealth between the founders of many great firms in Hong Kong, to the next generation,” explains Andrews, mentioning the Chengs, Swire, and Henderson.
The Henderson group was founded in 1961 by Lee Shau-kee, a business magnate who, prior to the handover of Hong Kong in 1997, was the fourth richest person in the world. He passed away this March and was succeeded by two sons- Dr Martin Lee Ka Shing and Peter Lee Ka-Kit.
In addition to its core business in property, Henderson Group holds strategic investments in two listed subsidiaries (Miramar Hotel and Investment Company Limited and Henderson Investment Limited) and controls The Hong Kong and China Gas Company Limited, the sole provider of territory-wide town gas; and Hong Kong Ferry, a sprawling company that includes shipyards, hotels, and floating restaurants.
Next stop, the New Generation shopper.
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