- Business
- Pacific Century Premium Developments Limited Pacific Century Premium Developments Limited (SEHK: 00432), a Bermuda-incorporated company headquartered in Hong Kong and founded in 1996, principally engages in the development, management, and investment of premium-grade property and infrastructure projects across the Asia-Pacific region; PCCW Limited (SEHK: 00008) serves as its single largest shareholder. The company develops and manages luxury residential projects such as Residence Bel-Air and ONE Pacific Heights in Hong Kong, Pacific Century Place office buildings in Beijing and a Grade A tower in Jakarta's Sudirman CBD serving multinational corporations and financial institutions, all-season resort destinations including Niseko Hanazono Resort in Hokkaido Japan with Park Hyatt Niseko Hanazono hotel, skiing facilities, ski school, zipflight, rafting, e-bikes, golfing, and art exhibitions, and Aquella villas and Golf and Country Club in Phang Nga Thailand; it also invests in premium properties, provides property and asset management services for various premises, and offers ancillary services including property leasing, sale agency, financing, travel agency, trademark registration, and hotel management. Operations span key markets in Hong Kong, Japan, Indonesia, Thailand, and previously Beijing, targeting high-net-worth individuals, tourists, and corporate tenants with a focus on sustainable luxury living and infrastructure. In recent developments, the company commenced superstructure construction in April 2024 on its luxury residential project at 3-6 Glenealy in Hong Kong Central with completion targeted for early 2026, reported robust 2024 financial results with revenue up 10% to HK$901 million driven by record tourism boosting Park Hyatt Niseko occupancy and revenue to HK$349 million alongside recreation operations at HK$206 million, achieved 85% office commitment at Pacific Century Place Jakarta, advanced sales of 33% of phase 1A villas in Phang Nga amid Thailand's tourism rebound, entered new term loan facilities including HK$500 million in December 2024 maturing 2028 and amended a HK$780 million facility in July 2024, and renewed its insurance services agreement with FWD until 2027 while maintaining no dividend recommendation for 2024.