Hongkong Land has announced a new strategy on its website, stating that it will shift away from investing in built-for-sale residential projects in Asia and instead focus on developing mixed-use commercial properties in major Asian cities. This strategic direction aims to leverage the growth potential and resilience of top-tier commercial and retail real estate markets in Asia, generating diversified income streams. This shift follows the appointment of Michael Smith as CEO on April 1, 2024. Hongkong Land also plans to increase investment in its core flagship projects in markets like Hong Kong, Singapore, and Shanghai, with selective expansion into other key Asian cities.