Hong Kong's Central Yards Takes Shape: HK$63 Billion Harbourfront Icon to Debut in 2027

Henderson Land Development Company Limited has officially announced Central Yards, a 1.6 million square foot mixed-use development on the New Central Harbourfront that aims to transform Hong Kong's commercial and cultural landscape. Construction is well underway at the harbourfront site, with the massive structure now dominating the Central waterfront skyline.​

Record-Breaking Investment and Design

The project sits on 516,316 square feet of prime harbourfront land adjacent to the International Finance Centre, which Henderson Land secured in November 2021 for HK$50.8 billion in a government tender—marking the highest land bid in Hong Kong's history. The total development cost is estimated at approximately HK$63 billion.​

During a recent visit to Central this week, the scale of the construction becomes immediately apparent. Green safety netting wraps around the emerging structure, while tower cranes work steadily above, signaling the ambitious timeline toward the 2027 Phase 1 opening. The development's distinctive "groundscraper" design concept spans approximately 400 meters along Victoria Harbour, creating what will be Central's longest architectural structure and a new horizontal skyline.​

The project brings together an international consortium of acclaimed architects, including Hong Kong's Lead8, London-based AL_A led by Amanda Levete, the Netherlands' UNStudio, and California's PWP Landscape Architecture.​

Commercial and Cultural Components

The development will deliver over 700,000 square feet of premium office and ancillary space, featuring the largest office floorplate in Hong Kong's Central Business District. More than 70% of Phase 1 office space has already been leased, with multinational companies showing strong interest in the remaining areas.

Central Yards will introduce Hong Kong's first private Broadway-caliber theatre, a state-of-the-art venue with seating for over 1,100 guests. The theatre is designed to international specifications and will host world-class performances ranging from global premieres to immersive productions.

The retail component spans over 300,000 square feet in Phase 1, adopting a "street-first, promenade-led environment" that blends indoor and outdoor spaces. Twelve outdoor event spaces will host pop-up kiosks, cultural markets, and seasonal festivals, creating a 24-hour hub of activity along the harbourfront.​

Sustainability and Green Innovation

At the project's heart lies Central's largest sky garden—an approximately 300-meter elevated landscape covering over 160,000 square feet. The development will feature more than 400 trees and 280 plant species across 300,000 square feet of multi-level open green space. Innovative "Urban Windows" are designed to optimize the microclimate by channeling fresh air and daylight through the structure.

Central Yards has secured or registered for nine of the world's most respected green and smart building certifications, including BEAM Plus, LEED, WELL, SITES, and WiredScore. The development incorporates smart facade systems offering 30% higher energy efficiency compared to other Grade A offices, along with eco-friendly recycled materials and advanced energy storage technology.​

Dr. Martin Lee Ka Shing, Chairman of Henderson Land, stated that the project represents "our vision of how global cities must evolve—placing people, sustainability, and innovation at heart". He described Central Yards as Hong Kong's "expanded horizon to the world, shaping Hong Kong's new chapter".​

A New Chapter for Central

As the construction progresses at the heart of Hong Kong's financial district, Central Yards promises to redefine the city's relationship with its harbourfront. The development's emphasis on accessibility, sustainability, and cultural programming suggests a shift in how Hong Kong envisions its urban core—not merely as a business hub, but as a vibrant, people-centered destination where commerce, culture, and lifestyle converge. With its 2027 opening on the horizon, the question now is whether Central Yards will deliver on its ambitious vision to become Hong Kong's most sustainable and dynamic waterfront district, setting a new benchmark for urban development in Asia's world cities.

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