Hongkong Land Opens Westbund Central Phase Two
Analysis based on 6 articles · First reported May 04, 2026 · Last updated May 04, 2026
The opening of Phase Two of Westbund Central by Hongkong Land is expected to have a positive impact on the real estate market in China — Shanghai, increasing the supply of premium commercial, retail, and residential spaces. This development could also boost the retail and hospitality sectors in China — Shanghai by attracting international brands and visitors, potentially leading to increased revenue for Hongkong Land and its tenants.
Hongkong Land has officially opened Phase Two of its Westbund Central project in China — Shanghai's Xuhui District. This US$8 billion ultra-premium integrated commercial property is Hongkong Land's largest single investment, with a total gross floor area exceeding 1.7 million square metres. Phase Two introduces a diverse mix of global first stores, designer labels, and flagship concepts, including Issey Miyake, Leica Store & Gallery, House of Läderach, HAY, and Paulmann. The development also features 650,000 square metres of premium Grade A offices, which will house companies like Adidas and Lululemon. The project, scheduled for completion in phases until 2028, aims to establish Westbund Central as a new downtown in China — Shanghai, reinforcing the city's role as a dynamic environment for work, living, and leisure. Michael J. Smith, Group Chief Executive of Hongkong Land, and Stuart Grant, Chief Executive of Westbund Central, highlighted the project's strategic importance and its potential to deliver sustained long-term value.
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