This shot actually captures the former Hong Kong cricket ground (closed in 1975) undergoing its transformation into the now rather bleak and overly-concreted Chater Garden, which I believe opened the following year in 1978. Sorry, but in my Western-oriented foreign-deviled mind I am forever destined to associate the word "garden" with things like grass and the colour green rather than a drab grey and a proliferation of concrete. In Hong Kong, as long as it was built using Li Ka-shing's "Green Island" cement than that is about as green as it needs to be.
Anyway, note the very elegant and still standing Hong Kong club in the background. That was to stick around fora few more years before its eventual redevelopment. You can also spot the lower floors of the Furama Hotel at the back. And a little further along the road (see below) we get to glance back and can see the Hilton Hotel as well as what looks like a newly constructed Murray Road car park on the right.