most technologically sophisticated. The year 1982 saw the property market in Hong Kong plunge dramatically, and in the following two years, rentals halved. This was a period of financial difficulty for Hongkong Land as it looked to reorganise itself and reduce its debt burden through asset disposals and restructuring measures. Hongkong Land sold its international properties as well as its non-core assets in Hong Kong, including its interests in Hong Kong Telephone and Hong Kong Electric. But its core assets in the heart of Central were left untouched. In 1984 the property market began to look up again and in late 1985, Hongkong Land completed and opened the first phase of its new flagship property, One and Two Exchange Square. In 1988, the final third phase of Exchange Square was completed and The Forum was opened. The Landmark was completed in two phases in 1980 and 1983. It comprised two 47-level office blocks, Gloucester Tower and Edinburgh Tower, and a large five-level shopping podium. During the 1990s, Hongkong Land continued to enhance its core commercial office portfolio in Hong Kong, while beginning to look at investment opportunities in other Asian cities. In Hong Kong, Central office space supply increased substantially in the late 1990s and in 1997 the company launched the redevelopment of Swire House, now named Chater House, as a world-class building in the heart of Central. In Singapore, the company began the construction of One Raffles Link, an office building in the centre of the city that was an early example of sustainable construction. The building was completed in 2000. Buildings Investment Properties Hongkong Land is a major landlord in the Central Business Districts of Hong Kong, Singapore, Jakarta and has a presence in other Asian cities, including: Hong Kong Alexandra House Chater House One, Two and Three Exchange Square The Forum Jardine House The Landmark Edinburgh Tower Gloucester Tower York House Prince's Building Macau One Central Macau The Residences and Apartments at Mandarin Oriental Singapore One Raffles Link CityLink Mall One Raffles Quay Marina Bay Financial Centre Marina Bay Link Mall Jakarta World Trade Center Jakarta World Trade Centre 1 World Trade Centre 2 World Trade Centre 3 (under development) World Trade Centre 5 (Wisma Metropolitan I) World Trade Centre 6 (Wisma Metropolitan II) Hanoi Central Building 63 Ly Thai To Phnom Penh EXCHANGE SQUARE (formerly The Embassy Site) Bangkok Gaysorn British Embassy Compound Beijing WF CENTRAL