Hongkong Land Appoints Stuart Grant to Lead $8B Shanghai Commercial Project

Hongkong Land has appointed board member Stuart Grant as executive director and chief executive of the developer’s $8 billion Westbund Central commercial project in Shanghai.

A longtime Blackstone executive who spent his early career at Hongkong Land parent Jardine Matheson, Grant is tasked with leading all aspects of the 1.1 million square metre (11.8 million square foot) project in Xuhui district as a member of Hongkong Land’s executive management team, the company said Wednesday in a release.

Grant will step down from his non-executive director role on Hongkong Land’s board in May before starting the new job on 30 June and reporting to Hongkong Land CEO Michael Smith.

“Stuart brings a wealth of experience and a track record of creating value through exemplary asset management,” Smith said. “Stuart’s addition alongside the exceptional senior leadership team we have assembled will ensure Westbund Central fulfils its vision to be one of the world’s best ecosystems for lifestyle and business.”

Jardines Homecoming

Grant began his real estate investment career in 2000 in Blackstone’s London office. He held several senior executive positions during his 18 years at the private equity giant, including senior managing director based in Hong Kong, where he played a key role in building Blackstone’s Asia Pacific real estate business and oversaw more than $20 billion in investments across Greater China, India, Singapore, Japan, South Korea and Australia.

Grant returned to Britain in 2018 as managing director of Stanhope Plc to help grow the London-based developer before joining Canada’s Brookfield to build out the ARC science and innovation real estate platform. In 2020, he co-founded venture firm CoreLife Investors with Goldman Sachs alum Graham Stanley.

A graduate of the University of St Andrews, Grant worked for Jardine Matheson in Hong Kong throughout the 1990s before earning a master’s degree in real estate finance from New York University in 2000.

Now he will take charge of what Hongkong Land has called its largest-ever single investment, Westbund Central.

“It is a great privilege to join such a dynamic company and iconic project,” Grant said. “Together with the team, I look forward to working with our joint venture and local district partners as we create a thriving new hub for lifestyle, hospitality and business that will transform the experience of residents and visitors in the heart of Shanghai.”

China Flagship

Scheduled to be completed in phases until 2028, Westbund Central comprises 240,000 square metres of retail space, 650,000 square metres of Grade A offices and 160,000 square metres of waterfront luxury residences. The project also features two Mandarin Oriental hotels spanning 55,000 square metres and more than 50,000 square metres of culture and art venues.

Hongkong Land has designated Westbund Central as an “anchor gateway city project”, joining the builder’s portfolio of flagship commercial developments in Hong Kong’s Central district and Singapore’s Marina Bay area.

Westbund Central will also serve as a flagship of the company’s Central series of prime commercial projects, which in mainland China has seen a total investment of $11.5 billion across a 3 million square metre portfolio spanning a completed Beijing complex and pipeline projects in Nanjing, Chongqing and Suzhou.