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Hutchison Whampoa Limited and the Cheung Kong Center  
 
Product Ref: 03/154C Company: Hutchison Whampoa Limited

Product Type: Case Industry: Real Estate

Related Product(s): Teaching Note
In mid-1993, Hutchison Whampoa Limited ("HWL"), a respected company based in Hong Kong, was planning to demolish the Hilton Hotel to make way for a highly lucrative new office building. Located at 2 Queen's Road Central, the Hilton Hotel was one of the territory's oldest and best-known landmarks and was wholly owned by HWL. To proceed with the redevelopment plan, HWL proposed to compensate the Hilton Group for an early termination of its 50-year management contract. The cost for compensation was estimated to be around US$125 million. Before approaching the Hilton Group for the buy-out, the Chief Development Executive of HWL hoped to convince the directors that the deal was necessary, and that the redevelopment plan would be beneficial to both the Group and its shareholders. This case explains the background to the Grade A office rental market in Hong Kong, and provides statistics to illustrate the major trends in the market over the past 20 years. Major trends in economic structures and regional implications (particularly the Hong Kong office market) are presented.
Functional Area : Finance & Investments
Strategy & General Management

Issues: real estate market analysis, marketing of real estate
Length: 17 pages Country: Hong Kong SAR

Pub. Year: 2003 Level of Difficulty: 2
         
This product type is available in the following language(s):      English
         
Related Information: N/A
 
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Case (03/154C) HK$58 / US$7.5
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