Founded in 1886 as the 17th company registered in Hong Kong, The Wharf (Holdings) Limited (Stock Code: 0004) is a premier company with strong connection to the history of Hong Kong. As one of the 30 constituent stocks in the original Hang Seng Index from the 1960s, Wharf is backed by a long standing mission of “Building for Tomorrow” and a proven track record in management and execution.
After spinning off Wharf Real Estate Investment Company Limited as a separately-listed company (Stock Code: 1997) in 2017, the Group’s businesses currently comprise Investment Properties, Hotels and Development Properties in Hong Kong and Mainland China. Other businesses include Logistics Infrastructure through Modern Terminals and Hong Kong Air Cargo Terminals.
The Group’s exclusive Peak Portfolio, comprising a rare collection of unique properties, continues to feature the highest bespoke quality and craftsmanship catering to the demands of a discerning clientele that does not buy in “off plans” presale. The development profile is characterised by attention to details, generous development cost, long payback period and high capital intensity.
In Mainland Investment Properties, starting from a small nascent base some 20 years ago, the Group’s proactive efforts are beginning to bear fruit in order to realise plans to generate a proper return over the next 20 to 30 years remaining on the majority of the underlying land leases. However, market dynamics have changed and competition has significantly stiffened.
The Mainland Development Properties land bank at the end of June 2022 was 1.94 million square metres. Strict price control and other regulatory policies have depressed selling prices and increased investment risk. The Group has become more selective with new land acquisition. At the same time, the Group’s land bank has been marked to market, which is however still undergoing correction.
Wharf Hotels manages 16 hotels, with over 5,000 rooms and suites, in Mainland China, Hong Kong and the Philippines. Niccolo Suzhou, opened in April 2021, was the fifth addition to the luxury Niccolo Hotels brand, with the other 11 hotels under the foundation Marco Polo Hotels brand. The Group owns three of these hotels and a fourth through a 50/50 joint venture.
The Group also owns and operates Modern Terminals and is a founding partner in Hong Kong Air Cargo Terminals, key components in Hong Kong’s success as an international trade and transportation hub for decades.
“Building for Tomorrow” also extends to Wharf’s “Business-in-Community” (“BIC”) commitment. Flagship school improvement programme “Project WeCan” grows from strength to strength along with a series of BIC initiatives, with an aim of helping different segments of society in Hong Kong and the Mainland.
In 2021, the Group was recognised with a host of awards for its business achievements and contributions to the community, such as the 10 Year Plus Caring Company Logo from The Hong Kong Council of Social Service and Wharf IFS Limited was named the Responsible Brand in the 11th China Philanthropy Festival. The Group remains a constituent member of Hang Seng Corporate Sustainability Index, AA rating in HSI ESG, and accredited Hong Kong Quality Assurance Agency’s CSR Index Plus Mark.
To support Hong Kong’s fight against COVID-19, the Group donated HK$10 million via Wharf Emergency Relief Fund to support the financially-needy through the Community Chest and Project WeCan Foundation; in addition, Modern Terminals (both in Hong Kong and in Shenzhen) and Kowloon Godown (in Hong Kong) support the logistics of transporting and storing much needed medical supplies, foodstuffs and daily necessities to meet Hong Kong’s needs.