Media Centre

Chinachem Group (“the Group”) said today it was delighted that Noble Vantage Ltd., a member company of the Group, had been chosen by the Urban Renewal Authority (“URA”) as the main operator of the Revitalisation Project of Central Market, a Grade 3 historic building in the heart of the city’s Central District.

The Group’s winning proposal for the site, promoted as a “Playground for All”, envisages the transformation of the former Central Market, operated from 1939 to 2003 and later preserved and revitalised by the URA, into a vibrant, bustling place where people of all walks of life can meet, mingle and socialise.  The Group will join hands with the URA to make this historical site with collective memory “approachable, energetic and gregarious” and return maximum benefit to the community. The first phase of operation is targeted to commence in the third quarter of this year.

Executive Director and CEO Donald Choi said the Group’s plan involved far more than simply the revitalisation of Central Market or the creation of a new shopping mall. “We want to make full use of the building’s heritage, legacy and collective memory, in particular its sense of ‘community’, to bring together the older residents, their new neighbours, working professionals in the area and visitors to Hong Kong,” he explained.

“We believe that the project can not only unveil the history of the past through the building characteristics, but actually showcase and lead the future as well. By adopting a flexible and interactive design, we aim to make it a ‘21st Century Marketplace’ which will support local brands and start-ups, serve as a gathering point to connect the neighbourhood, and become a next-generation landmark which can reflect cultural and lifestyle challenges,” Mr Choi added.  “This accords with the Group’s vision of creating a more liveable city, and our ‘Triple Bottom Line’ approach which puts emphasis on bringing simultaneous benefits to the city’s economy, community and environment – or ‘People, Prosperity and Planet’.”

The Group celebrated its 60^th anniversary last year, repositioned itself as a developer that creates “Places with Heart”, committed to making positive impacts on society through its core businesses and its efforts to create shared value. Being independent from public or family ownership, the Group enjoys the freedom to place social and environmental values on an equal footing to profit.