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Hongkong Land and luxury retail tenants to invest more than US$1 billion (HK$7.8 billion) in LANDMARK, Hong Kong

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2 years ago

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LANDMARK

Hongkong Land’s strategic investment of US$400 million (HK$3.1 billion) in LANDMARK reinforces Central, Hong Kong as a world-class destination for luxury retail, lifestyle and business
Hongkong Land estimates an additional US$600 million (HK$4.7 billion) capital investment from retail tenants across the LANDMARK retail portfolio
Cartier, CHANEL, Dior, Hermès, Louis Vuitton, Prada, Saint Laurent, Sotheby’s, Tiffany & Co., and Van Cleef & Arpels have committed to create world-class destinations

HONG KONG SAR – Media OutReach Newswire – 26 June 2024 – Hongkong Land today announced “Tomorrow’s CENTRAL”, its upcoming plan to invest over US$400 million (HK$3.1 billion) to expand and upgrade its LANDMARK retail portfolio over a three-year period, with phase one commencing in the third quarter of 2024. Additional capital investments of an estimated US$600 million (HK$4.7 billion) will be made by Hongkong Land’s retail tenants across the LANDMARK portfolio in the design and creation of new offerings. As part of the transformation project, 10 world-class, multi-storey Maison destinations will be created, establishing a unique luxury retail proposition, both in Hong Kong and globally.

John Witt, Group Managing Director of Jardine Matheson, welcomes Hongkong Land’s transformative project, which will cement Central’s status as a world-class retail, dining and business hub. The project aligns with Jardines’ long held drive to grow our businesses alongside our communities, with the vision to capture long-term opportunity.

Hongkong Land is making this strategic investment to meet its luxury tenants’ demand for significant additional retail space and enhanced brand representation in the heart of Central, Hong Kong. The Maison destinations will be some of the largest anywhere in the world, providing exceptional services and amenities to LANDMARK’s deep pool of loyal and discerning clients. The Group’s investment and the substantial investment from its strategic retail tenants underscores LANDMARK’s, Central’s and Hong Kong’s continuing status as one of the world’s leading luxury destinations.

Alexander Li, Chief Retail Officer, Commercial Property, Hong Kong & Macau, Hongkong Land; Michael Smith, Chief Executive, Hongkong Land; The Hon Michael WONG Wai-lun, GBS, JP, Deputy Financial Secretary of the Government of the Hong Kong Special Administrative Region; John Witt, Group Managing Director, Jardine Matheson; and Alvin Kong, Executive Director, Hongkong Land (from left to right) attend the announcement event of Hongkong Land’s strategic investment in LANDMARK and the Central Portfolio. This move aims to reinforce the Group’s leadership in luxury retail, support the global expansion of its esteemed global brand partners and capitalise on the growing demand for luxury goods.

The milestone project will expand Hongkong Land’s regional market share and leadership in the luxury goods segment. It will also heighten the attractiveness of its Central Portfolio ecosystem to tenants and clients through enhanced lifestyle, dining and retail concepts, connectivity, circulation and convenience. LANDMARK will remain open and activated throughout the transformation period while the project is completed in phases.

Mr Michael Smith, Chief Executive of Hongkong Land, said: “The considerable investments Hongkong Land and its strategic partners are making are not only a powerful endorsement of Central’s enduring role as the city’s iconic business and lifestyle hub but also demonstrate our shared, unwavering confidence in Hong Kong’s future as a global financial centre.”

“Our transformation of LANDMARK will reinforce the Central Portfolio’s position as one of the world’s most desirable locations to live and work,” he added.

Hongkong Land’s capital expenditure will be funded over three years and will be underpinned by the Group’s strong financial position. As at 31st March 2024, gearing was 16% and committed liquidity (cash and unused borrowing facilities) was US$3.1 billion (HK$24.2 billion). While there will be a temporary and moderate reduction of rental income during the upgrade period, the Group expects this investment to deliver stronger growth in tenant sales and retail income thereafter.

“Tomorrow’s CENTRAL”, Hongkong Land’s three-year strategic plan to transform LANDMARK is set to create 10 world-class, multi-storey Maison destinations that will offer exceptional experiences and reinforce Central as a global destination for luxury retail, lifestyle and business.

Expanded global Maison spaces and diversified retail

Three unique Maison destinations of between two and eight storeys will be created in each of LANDMARK ATRIUM, LANDMARK ALEXANDRA, and LANDMARK PRINCE’S, while one will be developed in LANDMARK CHATER, doubling the retail areas of the 10 luxury brands to over 220,000 sq. ft. (21,000 sq. m.).

The enlarged spaces will enable brands to showcase the widest assortment of products and create highly personalised services for their Very Important Customers (‘VIC’) including haute couture, private dining concepts, outdoor terraces and double-heighted VIC salons. The eye-catching, extensive upgrades of building facades will transform Central’s cityscape.

On completion, LANDMARK will house some of the best expressions of these 10 brands anywhere in the world, within less than half a square kilometre. Hongkong Land is also partnering with international auction house Sotheby’s to turn art appreciation into true immersion as Sotheby’s 24,000 sq. ft. (2,230 sq. m.) state-of-the-art exhibition space opens in LANDMARK CHATER from July 2024.

To accommodate the growth of retail areas, the Group is converting the lowest two levels of office space in Prince’s Building and Gloucester Tower as well as relocating the bar and lobby of The Landmark Mandarin Oriental, Hong Kong. All affected office tenants are expected to be relocated within the Central Portfolio. This allows the Group to implement the full potential of this project while bringing exciting new concepts to our office community.

Upholding its holistic vision and the uniqueness of Central, LANDMARK will have a diversified retail offering of over 200 tenants, which includes upcoming and legacy brands that have been long-term partners of Hongkong Land, some of whom are exclusive to LANDMARK in Hong Kong.

“This collaboration with strategic tenants will shape the future of Central for many years to come,” said Mr Alvin Kong, Executive Director, Hongkong Land.

“Our investment will elevate and enrich our Central Portfolio ecosystem and provide our community of international and local business leaders and discerning shoppers with an unrivalled luxury retail and dining offer,” he added.

Exceptional experiences and enriched ecosystem

LANDMARK’s retail podiums will be reconfigured to meet customers’ demand for high-quality, diverse lifestyle options and to elevate experiences through improved circulation and connectivity.

After the completion of the transformation project, the Central Portfolio will have a total of approximately 260,000 sq. ft. (24,000 sq. m.) of F&B space and over 30 new and refreshed F&B concepts including two new restaurants overlooking Statue Square at LANDMARK PRINCE’S, two new concepts in The Landmark Mandarin Oriental, Hong Kong and new al fresco offerings at LANDMARK ATRIUM. In total, LANDMARK will house more than 100 F&B offerings, including its existing 15 Michelin Stars and 1 Michelin Green Star.

The project will further integrate the Group’s assets with the Central Portfolio ecosystem through additional pedestrian access at the basement floor of LANDMARK ATRIUM, which will provide multi-level connectivity, and an elevated office lobby experience for Edinburgh Tower and Gloucester Tower on the third floor.

Model for CENTRAL Series

LANDMARK is the home of Hongkong Land’s CENTRAL Series and underpins its expertise and reputation in delivering exceptional luxury and lifestyle experiences that are recognised across the world.

In the next four years, the Group will launch four new properties under the CENTRAL Series, adding net retail lettable area of approximately 3,703,000 sq. ft. (344,000 sq. m.) The Shanghai West Bund Financial Hub project will join LANDMARK as part of the Group’s GLOBAL CENTRAL developments, which are characterised by prestigious locations in internationally recognised lifestyle destinations that will serve as global best-in-class retail developments.

Sustainability leadership

The Group has set specific sustainability ambitions for the transformation project with extensive use of green building materials, including employing 100% low-carbon concrete, 100% green rebar and 100% sustainable timber. Additionally, 80% of construction plants and equipment used in the project will be electric to reduce carbon emissions.

Upon completion, LANDMARK aims to secure several of the highest environmental, health and safety and wellbeing certifications including BEAM Plus Interiors, LEED Commercial Interiors and WELL, making it one of the greenest property upgrades in Hong Kong.

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Novum Studio Secures New Funding to Launch Ahoy Project, an AI-Native Enterprise Transformation Platform, Building on Its 20-Million-User Gen Z App Frog

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3 days ago

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July 24, 2026

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Novum Studio
  • Novum Studio has raised a new round of funding to launch Ahoy Project, its enterprise AI solution, with internal testing scheduled for July 2026.
  • Ahoy Project is positioned as the infrastructure for AI-native enterprise transformation – an AI-native communication platform serving as the underlying system, delivered as an end-to-end tailored solution.
  • The launch expands the company beyond Frog, its Gen Z consumer social app that has reached 20 million users across the U.S. and Europe.
  • Novum Studio said it is applying lessons from operating high-frequency social platforms at scale to workplace communication and knowledge systems.

NEW YORK, USA – Media OutReach Newswire – 24 July 2026 – Novum Studio, the company behind Frog – a Gen Z social app often described as a “new-generation Snapchat” – said it has raised a new round of funding and will use the proceeds to launch Ahoy Project, an AI-native enterprise communication and collaboration platform, with internal testing scheduled for July 2026.

The Novum Studio team at London Tech Week 2025.

Unlike conventional workplace software, Ahoy Project will not be sold as a standalone software subscription, the company said. Novum Studio provides the infrastructure and a full tailored solution for enterprises undergoing AI-native transformation, with the communication platform serving as the underlying system on which that transformation is built.

Founded as a consumer social company, Novum Studio has reached more than 20 million users across the U.S. and Europe. Frog gained traction among younger users through spontaneous, real-time sharing designed around authenticity and low-pressure interaction. The company said its experience building large-scale social “spaces” – where millions of people communicate, form groups and coordinate in real time — directly informs its approach to enterprise collaboration.

The new funding will support the launch and international expansion of the enterprise business as artificial intelligence reshapes how organizations communicate, collaborate and operate, the company said.

Novum Studio was founded by Anna Danyi, who graduated from the London School of Economics and Political Science (LSE) in 2018 and began her career in consulting and technology. Before founding Novum Studio, she built multiple consumer applications and exited through an acquisition. In 2025, Forbes China recognized her among the Top 100 most influential global Chinese figures in AI digital products area.

“We spent years understanding how millions of users communicate online,” Anna Danyi said. “In the AI era, communication itself is becoming intelligent. We believe the next generation of platforms will not only connect people — they will understand workflows, collaboration and organizational behavior.”

From Consumer Social to Enterprise AI

Modern organizations face growing challenges as critical knowledge, decisions and workflows become fragmented across chats, meetings and disconnected tools, the company said. Ahoy Project addresses this as a conversation-driven, AI-native collaboration layer: it captures context from day-to-day communication to build a searchable enterprise knowledge base and support workflow coordination.

Core capabilities include conversation-based knowledge organization, AI-assisted collaboration and workflow support integrated directly into team communication. Because the platform sits at the layer where work is discussed and decided, it can serve as the foundation for a broader AI-native operating model – with Novum Studio designing and delivering the surrounding transformation solution for each enterprise client.

Ahoy (Popeye AI) turns everyday team conversations into a searchable enterprise knowledge base.

A New Direction for Social Technology

Novum Studio said its expansion reflects a broader shift across the technology industry. Platforms such as TikTok and Instagram defined how content was distributed and consumed in the mobile social era; as AI becomes embedded in digital products, the company believes the next stage will center less on feeds and more on intelligent systems that understand communication and coordination.

“We are no longer just building products where people post content,” Anna Danyi said. “We are building systems that understand how humans communicate and operate together.”
 

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Energy

Venezuela Energy Week to Host Houston Industry Showcase, Unlocking United States (U.S.) Commercial Engagement Ahead of October Summit

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3 days ago

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July 24, 2026

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African Energy Chamber

Ahead of Venezuela Energy Week 2026, U.S. exploration companies, independent operators, oilfield service providers and investors are invited to explore commercial opportunities across Venezuela’s upstream sector at the Houston Industry Showcase next month

HOUSTON, United States of America, July 23, 2026/APO Group/ –Venezuela Energy Week will host an Industry Showcase in Houston on August 18, 2026: a targeted industry roadshow designed to engage U.S. energy stakeholders ahead of the October summit. Held at The Post Oak Hotel, the showcase will convene senior representatives from across the U.S. upstream ecosystem – including exploration and production companies, Texas-based independents, oilfield service companies, engineering and technology firms, commercial banks, private equity firms and family offices – to assess commercial pathways for participation in Venezuela’s energy sector.

 

As Venezuela looks to expand production, U.S. companies remain well positioned to contribute technical expertise, capital and operational capabilities across the upstream value chain. Chevron’s longstanding presence in the country highlights the continued importance of U.S. industry participation, while the scale of Venezuela’s resource base continues to attract interest from major international energy companies, including ExxonMobil and ConocoPhillips. Opportunities extend across exploration, field development, production optimization, infrastructure rehabilitation and digital modernization as Venezuela seeks to strengthen its energy sector.

 

Demand is also expected to grow for oilfield service companies, engineering firms, technology providers and financial institutions that can support upstream investment and project execution. Companies including SLB, Halliburton and Baker Hughes have been identified as potential partners in advancing production optimization and infrastructure rehabilitation, while commercial banks, private equity firms and family offices will play an important role in financing future investment opportunities.

 

Against this backdrop, the Houston Industry Showcase will provide a structured engagement platform at a time when select international operators continue to operate under U.S. Treasury-authorized frameworks, and where policy considerations in the U.S. continue to shape engagement parameters in Venezuela’s energy sector.

 

The event will enable U.S. exploration companies, independent operators, oilfield service providers and investors to assess technical and commercial pathways across exploration, field services, project delivery and broader supply chain opportunities, while supporting early-stage dialogue between international investors and Venezuela-focused stakeholders in a structured commercial environment ahead of the October summit.

 

To register for the Houston Industry Showcase on August 18, visit www.venezuelaenergyweek.com/rsvp-houston. To learn more about delegate, sponsorship and partnership opportunities for the showcase or to secure your place at Venezuela Energy Week 2026 in Caracas this October, contact info@venezuelaenergyweek.com.

 

Supporting Venezuela’s Earthquake Recovery

 

Our thoughts are with the people and communities affected by the recent earthquakes in Venezuela. As the country begins the long process of recovery, we encourage members of the global energy community to support relief and reconstruction efforts through the CAF Recovery and Reconstruction Fund for Venezuela, which channels contributions from individuals, companies and organizations to emergency assistance, essential services and long-term rebuilding efforts.

 

To learn more or make a contribution, please visit the CAF Recovery and Reconstruction Fund for Venezuela (https://apo-opa.co/4fM0rLr).

 

Distributed by APO Group on behalf of Energy Capital & Power.

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Business

Africa Trade Gateway Delivers US$5.3-Million Cross-Border Transaction in First Energy Sector Trade in Southern Africa

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3 days ago

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July 24, 2026

By

Afreximbank

The transaction represents an important milestone for both the participating institu-tions and the ATG ecosystem as it marked Innbucks Microbank’s first completed transaction through the platform and the ATG’s first recorded energy-sector transac-tion in Southern Africa

HARARE, Zimbabwe, July 23, 2026/APO Group/ –A US$5.3-million cross-border fuel (gasoil) trade transaction has been successfully completed with support of the Africa Trade Gateway (ATG), African Export-Import Bank’s (Afreximbank’s) (www.Afreximbank.com) flagship digital trade ecosystem, demonstrating the value and efficacy of the Gateway in powering African trade.

The transaction, which saw Zimbabwean fuel importer Witeva Trading source a gasoil shipment from a leading commodity trader and supplier in Switzerland, with Innbucks Microbank Ltd. participating as the local issuing financial institution and Afreximbank providing confirmation support under agreed trade finance structure, demonstrates how African businesses can leverage one connected ecosystem to identify opportunities, access finance and complete international trade more efficiently.

The ATG made it possible for the commercial opportunity to be connected to the right ecosystem participants, bringing together the buyer, supplier and participating financial institutions to support a successful execution of the transaction.

The transaction represents an important milestone for both the participating institutions and the ATG ecosystem as it marked Innbucks Microbank’s first completed transaction through the platform and the ATG’s first recorded energy-sector transaction in Southern Africa.

This transaction demonstrates the value of bringing African businesses and financial institutions together through one connected trade ecosystem

It also demonstrates how African Businesses can use a single digital ecosystem to identify commercial opportunities, connect with verified counterparties, access trade-finance support and execute cross-border transactions more efficiently.

Peter Olowononi, Director, Regional Operations, Southern Africa, at Afreximbank, said:

“This transaction demonstrates the value of bringing African businesses and financial institutions together through one connected trade ecosystem. By creating a digital ecosystem to expand access to trade finance, Afreximbank is enabling more businesses to participate easily in regional and international trade.”

Emeka Onyia, Director, Digital Business, at Afreximbank, added:

“The Africa Trade Gateway is more than a mere digital platform; it is the ecosystem that helps trade happen. We help businesses discover opportunities, connect with trusted buyers, suppliers and financial institutions, and facilitate the journey from commercial opportunity to completed transactions. Every successful deal strengthens the network, attracts new participants and creates more opportunities for African trade.”

“As more businesses, banks and trade partners join the ecosystem, every successful transaction expands the marketplace, strengthens trust across the network and increases opportunities for future trade,” Mr. Onyia added.

Distributed by APO Group on behalf of Afreximbank.

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