A New Era at Prince's Building, Central

HONG KONG, 7th August 1999 -- Prince's Building, one of Central's most popular retail locations, is unveiling its new look with the completion of an extensive HK$172 million refurbishment project in June.

The renovated retail podium has an impressive new limestone fade with double-height glass shop fronts. The interior is equally contemporary with wider corridors, improved escalators, new shop fronts and improved lighting. Prince's Building sees the opening of numerous new and existing brand names, including tow-storey flagship stores Brooks Brothers, Ralph Lauren, Cartier, Chanel, Alfred Dunhill and Hugo Boss. Other new comers include Chopard, Piaget, Seeger and Godiva. A unmber of popular high-end names, such as Escada, have also committed to the Building and will open in the summer.

Upstairs, popular delicatessen Oliver's expands to over 7,000 square feet and a cosmopolitan new caf?and restaurant named the Mezz Bar & Caf?and a take-away eatery named Can-teen will open on the mezzanine floor in July. Many of the Building's popular local jewellers and tailors have re-opened on the first floor.

Hongkong Land's Executive Director, Ian Hawksworth, says "the new retail podium is a major investment to enhance the shopping environment in Central. Prince's Building now offers a unique shopping experience for local and overseas customers with its mix of flagship stores, and a wide variety of specialty shops, which encompass both major international brand names and local popular retailers.

"The choice by international retailers to open flagship stores in Prince's Building has demonstrated the premium location and quality of the Building, and also the strength of Central as the pre-eminent shopping and financial destination in the region," says Mr. Hawksworth.

The refurbishment project is part of a three-year programme to remodel Hongkong Land's buildings and facilities in Central, and assure they continue to deliver the highest standards to businesses, retailers and shoppers. Upon completion of the overall project late next year, Hongkong Land expects Central to be unparalleled in Asia for international brand name shopping and as the first-choice destination in Hong Kong for multinational corporations.

The Hongkong Land Group owns and manages some 5 million square feet of prime office and retail property in the Hong Kong's Central Business District. Some 10% of this space is currently being redeveloped. The Group is also building a portfolio of property and infrastructure projects in Asia and is active in Hong Kong SAR, Mainland China, Singapore, the Philippines, Vietnam and Indonesia.

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Issued on behalf of Hongkong Land by Caribiner International.

Issued on behalf of Hongkong Land by Caribiner International. For further information please contact:
Caribiner International Eunice Ku Tel: 2905 9979
Hongkong Land Helen Chiu Tel: 2842 8222