This old Banyan Tree (Latin name: Ficus retusa) was preserved by Swire Properties Ltd. During the construction of Pacific Place, the tree is believed to have been planted in about 1870 as part of the British Military Forces Victoria Barracks which occupied this site until 1979.

Preservation of this tree required the construction of a cylindrical structure with a diameter of 18 meters and depth of 10 meters in order to contain the roots. The total cost was HK$23,890,227 and this believed to be the most expensively preserved tree in the world.

The Banyan tree is a common sighting in Hong Kong. The Banyan Tree is a prominent and significant figure in several Asian cultures and mythology. For instance, in Hong Kong, the famous Lam Tsuen Wishing Tree where it is very popular with locals who come to worship, hoping their wishes come true.