The total land bank of Henderson Land in Hong Kong amounts to approximately 24.1 million sq.ft. in total attributable gross floor area as of 31 Dec 2016. This includes our interests in development sites, investment properties, hotel properties as well as the property interests in our three listed associates.
We also hold around 44.8 million sq.ft. of agricultural land spread widely over various districts in the New Territories as of 31 Dec 2016. This is the largest agricultural land bank among all property developers in Hong Kong and it provides an important and integral source of developable sites for the Group's ongoing project development portfolio.
Our strategy is to acquire sites with good potential for future value enhancement through development density intensification, land usage conversion, as well as sites that will benefit from the Government's infrastructure and public transportation improvement programmes.
Over the years we have made significant acquisitions of agricultural land with high development potential and proceeded to apply to the Government for land-use conversion of these land lots at a reasonable premium. We also acquire quality development sites through land auctions, public tenders and by private treaty.