“Triple Bottom Line” Concept and Spirit of Making “Places with Heart” to Underpin the Group’s Business Strategies
HONG KONG SAR – 24 November 2020 – In celebration of its 60th Anniversary, Chinachem Group (the “Group”) today announced its rejuvenated branding, including a new corporate logo. The new branding reflects the Group’s repositioning as a developer of “Places with Heart” — one that is committed to making positive impacts on people, the community and the environment through its core businesses and its efforts in creating shared value (“CSV”).
New Logo Conveying “Triple Bottom Line” Concept
At today’s press conference held at L’hotel Nina et Convention Centre, the Group announced a wide-ranging programme of upcoming business and CSV initiatives. The Group’s new logo and website also made their first public appearance. The intertwined hearts in the logo manifest the Group’s brand DNA “Places with Heart” and represent the Group’s “Triple Bottom Line” which has been adopted as an overarching premise for its operational and decision-making processes, namely a commitment to bringing positive impacts on People, Prosperity and Planet. The forest green symbolises its integrity and trustworthiness; the warm gold colour depicts the warmth of humanity.
Chinachem Group Executive Director and CEO Donald Choi explained that the Group had stood alongside Hong Kong for six decades during which it had become one of the city’s most important developers with a portfolio covering real estate, hospitality and entertainment businesses, all closely related to residents’ everyday lives. The Group is independent from public or family ownership. The Group, under its “Triple Bottom Line” principles, is now going beyond profit-making to give back to society — making the city a better place by improving the quality of life, delivering excellent services and accumulating resources for charitable and public benefit. By doing so, the Group is committed to creating value shared by different stakeholders.
“Embracing the brand DNA ‘Places with Heart’, the Group is embarking on its next 60 years by bringing tradition and innovation together,” Mr Choi said. “We exist to bring positive impacts to people, communities and the environment, as well as to enhance the quality of life for Hong Kong people and make this a more liveable city. We will strive to embed our brand values — Purpose-driven, People-centric and Quality-led — into every detail and every process in our core businesses.”
To a New Era, a Community for All Ages
Elaborating on the Group’s endeavours in green building and age-friendly development, along with its efforts in creating shared value in the promotion of arts and culture, education and social inclusion, Mr Choi said its Anderson Road Project to be launched later this year or early next year would be a project for all ages, reflecting the Group’s rejuvenated brand values. It was designed to provide elderly people and those in need with convenient, comfortable, state-of-art and barrier-free residential units and related facilities. Additionally, in view of the city’s ageing population trend, the Group and CUHK Jockey Club Institute of Ageing were collaborating on a five-year project to study how to develop a Community for All Ages. The final output was expected to provide a set of residential housing guidelines towards building an All-age Community for Hong Kong. The Group hoped that the guidelines would serve as a reference in the field.
Property Development and Investment
At today’s press conference, Managing Director, Real Estate Dennis Au said the Group planned to roll out the Ho Man Tin Station Package Two property development next year. In the planning stage were the Tonkin Street/Fuk Wing Street project jointly developed by the Group and the Urban Redevelopment Authority as well as the Ho Chung low-density house project in Sai Kung, which would provide total floor areas of 104,049 sq ft and 57,000 sq ft respectively.
In recognition of the importance of technology and innovation, the Group had set up a Digital Transformation Division last year to push forward the application of new technologies in its business processes, Mr Au added. The Group was looking to use Modular Integrated Construction in the Tonkin Street project, yet another move to demonstrate the Group’s commitment to promoting PropTech.
Moving forward, the Group is stepping up its investment in innovation, hoping to explore new technological opportunities. The Group has formed Great Bay Area (“GBA”) Smart City Technology Venture Investment to support innovation projects in partnership with four GBA-focused venture capital funds. Its targets are innovators who are developing businesses catering for the Hong Kong market or new technologies relating to construction. In addition, the Group has teamed up with ParticleX, a venture capital partner and the Hong Kong Science and Technology Park (HKSTP) to host the PropTech Global Challenge 2020, a virtual competition which creates a platform connecting enterprises in Hong Kong, GBA and the Pacific region with potential start-up partners. Entrants in the competition will have a chance to win a grant as well as incubation support from the HKSTP.
As regards sustainability and the environment, it is noted that the Group had set specific goals: reducing carbon emissions by 38 percent by 2030, and ensuring that all upcoming major projects developed by the Group would be able to acquire well-recognised green building certification, including Beam Plus Gold and the WELL Building Standard.
The Group’s investment portfolio boasts a total gross floor area of 7.53 million sq. ft of office, retail, residential and industrial space, as well as 6,000 parking lots. To date, the Group has developed more than 180 property projects, with revenue from property sales reaching HKD32 billion in the past five years. Total floor area from ongoing projects and those in the pipeline amounts to 3.89 million sq ft. The Group owns/manages eight hotels and serviced apartments, which together offer over 2,900 rooms or flats; it also owns and operates a cinema. In the property management area, the Group currently manages some 200 properties in more than 80 developments through six subsidiary companies, delivering quality-assured professional property management services.
L’hotel Group, which receives two million guests per year, will shortly relaunch its brand along with a new business strategy. L’hotel Nina et Convention Centre, with more than 1,600 rooms, has the largest number of guest rooms of any single venue in the local market while its ballroom, after a renovation, will boost its capacity to 100 tables or events for 1,600 guests. L’hotel Island South and L’hotel elan are the only two UNESCO Geopark Hotels in the city.
60th Anniversary Exhibition
A series of public events has been planned for the Group’s anniversary celebrations. One of the highlights is the 60th Anniversary Exhibition, an innovative and interactive event that will showcase Chinachem Group’s 60-year journey and the progress it has made alongside the local community.
Nina Park, a wood fossil park located at Nina Tower, Tsuen Wan, is undergoing revitalisation. It is expected to be reopened in 2022 as a new landmark in western Tsuen Wan and a museum-grade venue for ‘edutainment’.
As a way to contribute to the community and the environment, The Group has allocated some 10,000 sq ft of floor area in NINA MALL (The Moment) for art exhibitions and space for creative activities.
The elderly, education, poverty alleviation, healthcare and social inclusion are key areas the Group is addressing through its community care initiatives. In the months to come, it will partner with the Senior Citizen Home Safety Association to organise cross-generational cohesion programmes benefiting elderly people. Throughout the Covid-19 pandemic, the Group has been proactively responding to those in need by making donations of face masks and hygiene products to underprivileged families and ethnic minority groups; giving computers to students from low-income families who could not otherwise be equipped for online learning from home; and helping social enterprises and social service organisations subscribe to long-lasting disinfectant coating services for their shelters and day care centres. Moreover, the Group has offered a batch of units at World Fair Court in Pok Fu Lam to the Community Housing Movement, and special shop rental rates to not-for-profit organisations.
Mr Choi closed the press conference with a thankful note. “Chinachem has been standing strong over the years, thanks to our like-minded members of the management team and staff who share the common goal and work relentlessly with the Group. We’re prepared to set off towards the new direction and to reach new heights.”
Since 1960, Chinachem Group has been a leading property developer in Hong Kong, with a portfolio covering residential, commercial, retail and industrial buildings for sales and investment, in addition to operating hotels and property management services. The Group actively seeks to make a positive contribution to society through its adherence to the “Triple Bottom Line”, a commitment that its activities will benefit People, bring Prosperity to the community and preserve the Planet.