宏福 (Hóngfú) is a proper noun, commonly appearing as part of place names such as housing estates or buildings in Hong Kong and mainland China. The characters mean "great fortune" or "vast blessings." It is used as a name rather than carrying its literal meaning in most contexts.
我们约在宏福广场门口见面吧。
Wǒmen yuē zài Hóngfú Guǎngchǎng ménkǒu jiànmiàn ba.
Let's meet at the entrance of Hongfu Plaza.
宏福花园的房子最近涨价了不少。
Hóngfú Huāyuán de fángzi zuìjìn zhǎng jià le bù shǎo.
The houses in Hongfu Garden have gone up in price quite a bit recently.
他住在宏福大厦,离地铁站很近。
Tā zhù zài Hóngfú Dàshà, lí dìtiě zhàn hěn jìn.
He lives in Hongfu Tower, very close to the subway station.