Howard Hughes Holdings Inc.的动态

Transcript

Hi, I'm David O'Reilly, CEO of Howard Hughes and this is our quarterly spotlight. In 2010, the company embarked on a significant redevelopment initiative for Ward Village, our 60 acre master planned community located along the shores of the Pacific Ocean in Honolulu, HI. First envisioned by Victoria Ward is a central gathering place and natural sanctuary where the community could come together and celebrate the culture and beauty of Oahu. Ward Village has unique heritage. Through our master plan, we've embraced her legacy. Meticulously designed to sustainable and thriving urban island neighborhood with premier condo towers, best in class retail offerings, extensive parts and lush streetscapes. Our success to date includes seven Premier Condo towers encompassing more than 3000 residences, which have generated combined revenue of nearly $4 billion. Ward Village has been recognized as a lead Platinum Certified neighborhood, a benchmark for sustainable development, as well as the best planned community in the United States by Architectural Digest. In the fourth quarter, we completed Victoria Place, our 7th condominium tower in Ward Village and we recognize record condo sales revenue totaling nearly $780 million with exceptional gross margins. With the prime front row location across from Kuala Harbor and the Pacific Ocean, Victoria Place stands 40 stories tall and offers its residents some of the best panoramic views in Honolulu. Designed by internationally renowned architects, landscape and interior designers, Victoria Place reflects the lifestyle of a traditional. Why you state Uniquely blended with modern design, residents enjoy 2 levels of luxurious amenities, including lush gardens, laughing Infinity pools, a premier spa and fitness center, and upscale gathering places. Victoria Places further enhanced by its location directly adjacent to Victoria Ward Park, which encompasses 3 1/2 acres of new green space devoted to health, Wellness and community connectivity. This land will be a centerpiece of the community and a gathering place for all residents, ensuring Vic. Towards original vision for this land is fostered for many generations to come. With strong demand for new housing in Oahu, the pace of sales for new residential units at Ward Village continues to exceed our expectations. We have an extensive pipeline of new developments underway or in pre sales which will bring more than 2000 additional residences to Ward Village over the next few years. Our next hour Ulana will bring much needed workforce housing to Honolulu. This project is sold out with delivery expected. In late 2025. The Park Ward Village in Kalai, which are both more than 90% pre sold are under construction and expected to be delivered in 2026 and 2027 respectively. And finally, pre sales for allow new has continued at a solid pace with nearly 60% of its units already pre sold. We hope to start construction on this project later in 2025 upon completion of our current entitlements, which we expect will include three additional condo towers. Ward Village will encompass 14 condo towers nearly 6000. Homes and approximately 900,000 square feet of retail. Also as a result of recent amendments to local development rules in areas including Ward Village, we estimate that we have the potential to gain an incremental 2 1/2 to three and a half million gross square feet of residential entitlements, which would provide much needed additional housing for Honolulu and support additional redevelopment in the neighborhood for many years to come. Looking back at 2024, we are extremely pleased with our record setting results across all of our business. Going forward, our expansive portfolio of assets and the unmatched scale of our land bank provide us the opportunity to continue development of next generation communities which create value and meaningfully improve the lives of our residents and tenants. As we build on the legacy of our visionary founders, we remain steadfast in our commitment to thoughtfully planning and building innovative, sustainable and world class communities in the decades to come.