See the original photo on Flickr.
The photo shows the waterfront (Des Voeux Road Central) from c. 1888-89.
The following building from the east (left) are visible:
Dent & Co. (West - Praya and Pedder) / Melcher's Building - ML 7 Sec C [1863-1889]
Pedder's Wharf (3rd generation) [1886-1894]
Duddell's / Hunt & Co. / Jardine, Matheson & Co.- ML 100 [1855-1907]
20 Des Voeux Road Central [????-????]
P & O Building (3rd generation) [1887-????]
Crosby's Store / Lane Crawford (1st location) [????-1901]
26 Des Voeux Road Central [????-????]
28 Des Voeux Road Central [????-????]
30-32, Des Voeux Road Central (first generation) [c.1865-c.1889]
34-46 Des Voeux Road Central [????-????] (under contruction)
Victoria Hotel, DVRC [????-c.1895]
Uphill is the Roman Catholic Cathedral (2nd & current location) [1888- ].