Hong Kong asset owners are integrating culture and curating experiences in order to keep the city’s major districts vibrant in a changing and challenging environment.

A panel of executives from the city’s biggest developers came together at the ULI Hong Kong conference held on October 23. In a discussion held under Chatham House rules, the developers spoke about taking a more holistic approach to building communities and delivering experiences.

Hong Kong’s biggest developers have an outsized influence over the city’s fortunes, as they each control large parcels of land and major mixed-use schemes which are a fulcrum for the life of the city.

With a sluggish Mainland China economy and lower visitor numbers holding Hong Kong back, a challenge for the city is to add new vitality through its built environment. As one panellist noted: “When I first came to Hong Kong, you felt the buzz like nowhere else. We’ve lost a little bit of that buzz, and so we need to get it back.”

Nonetheless, as one panellist pointed out, Hong Kong remains a key financial centre for China and the world, with a low tax rate, a large number of wealthy citizens and a vibrant history. Its challenge is to revitalise itself once more in response to changing demands.

Hong Kong developers are focused more than ever on a holistic view of development; in one recent major mixed-use project, approximately 15% of the total budget was spent on developing the public realm, including open space and pedestrian connections.

However, the developers agreed that more action was needed. One said there was “a lot more work” major landlords could do to improve the key Central district. Contrasting Central with areas such as Miami’s design district, “we really haven’t maximized the community feel and the streetscape of some of our key parts of the city,” he argued.

A challenge for the city and its landlords is integrating its high-rise spaces with lower-rise spaces and the street level. One developer said his company tried to build energy by linking low and high-rise buildings and by encouraging street level activity. “People don’t come to a city just to see another tall building,” he said. Instead they seek scenery and culture.

Developers have been making an effort to provide space and funding for arts and cultural activities, including giving up commercial space in favour of the arts uses. They often organise events to promote the arts and culture, as well as attracting more footfall to their developments. Weekend projects, from art shows to food markets, allow developers to extend the operating cycle of commercial assets and develop a 24/7 city.

The panel said they would like to see more events and more collaboration between landlords and support from government to allow bigger events to take place.

The focus on large mixed-use projects is a strong point for Hong Kong, as the residential, office, retail and hospitality elements all feed off each other. Developers stressed that projects needed diversity within uses too. For example, a diverse F&B offering, including diversity of price point, was important in making mixed-use developments inclusive.

Hong Kong’s retail sector has been negotiating changing shopping habits and lower visitor numbers, making it more competitive than ever. The panel agreed that an experiential element was needed to attract local visitors and tourists. “We need a retail offer that is vibrant, diverse and inclusive,” said one developer.” People need to be engaged,” said another.

A keyword for the session was “software” and its importance in the built environment. The panel agreed that the hardware, the buildings and infrastructure, is only part of what makes a city great. Landlords need to do more than simply create great buildings; they need to write the software for great experiences too.