Hang Lung Properties
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| Company type | Public company |
|---|---|
| |
| Industry | Real estate, Car park |
| Founded | 1960 |
| Headquarters | 28/F, Standard Chartered Bank Building, Central, Hong Kong |
Area served | Hong Kong Mainland China |
Key people | Ronnie Chan (Chairman) |
| Parent | Hang Lung Group |
| Website | hanglung |
| Hang Lung Properties | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Traditional Chinese | 恒隆地產 | ||||||||||
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Hang Lung Properties, formerly Amoy Properties and currently subsidiary of Hang Lung Group, is a property developer in Hong Kong. It is a member of Hang Seng Index Constituent Stocks (blue chip) and is headquartered in the Standard Chartered Bank Building in Central, Hong Kong.[1]
History
[edit]Hang Lung Properties Limited was incorporated in 1949 and was taken over by Hang Lung Group Limited in 1980. It became the property investment arm of Hang Lung Group Limited after the group re-organisation in 1987. The company is led by Ronnie Chan.
In November 2010, the company said it was aiming to raise up to HK$10.1 billion through a share placement to finance expansion on the mainland.[2]
Properties
[edit]The company's main properties include Standard Chartered Bank Building, Baskerville House, Hang Lung Centre in Causeway Bay, Kornhill Plaza, Grand Centre in Tsim Sha Tsui, as well as One and Two Grand Tower, Hollywood Plaza (Hong Kong), and the Park-In Commercial Centre in Mong Kok.[3]
On 1 January 1991, Ronnie Chan took over as the group's chairman. He saw the opportunity to invest in mainland China market due to its economic growth, and thus the company began to venture into the mainland market under Chan's leadership. Its first step into the mainland came in 1992 with two landmark properties in Shanghai, Plaza 66 and Grand Gateway 66. Following the success of these projects, the company continued to expand into others parts of mainland China such as Wuxi, Shenyang, Jinan, Tianjin, Dalian, Kunming and Wuhan.[4]
Hang Lung Properties in September 2020 bought the real estate assets in Hong Kong of the United States government.[5]
Management Board
[edit]The board has eleven members, with five executive directors and six non-executive directors to ensure sufficient independence.[6]
- Chairman: Ronnie Chan
- CEO: Weber Wai Pak Lo
- CFO: Hau Cheong Ho
- Executive Director: Adriel Wenbwo Chan
Non-executive directors:
- Ronald Joseph Arculli
- Philip Nan Lok Chen
- Dominic Chiu Fai Ho
- Nelson Wai Leung Yuen
- Andrew Ka Ching Chan
- Prof. Hsin Kang Chang
- Anita Yuen Mei Fung
References
[edit]- ^ "Hang Lung Properties Ltd (0101.HK)". Reuters. Retrieved 25 March 2013.
- ^ "Hang Lung set to seek $10.12b". The Standard. Archived from the original on 11 November 2010. Retrieved 16 November 2010.
- ^ "hang lung properties ltd (101:Hong Kong)". Bloomberg BusinessWeek. Archived from the original on 17 June 2013. Retrieved 4 April 2013.
- ^ "Corporate Profile". Hang Lung Group Limited. Archived from the original on 10 March 2015. Retrieved 17 July 2018.
- ^ "Hang Lung picks up US government's Hong Kong assets for HK$2.56 billion, a 20 per cent discount to market valuation". South China Morning Post. Retrieved 30 December 2021.
- ^ "Board of Directors". Hang Lung Properties Limited. Retrieved 17 July 2018.
External links
[edit]- Business data for Hang Lung Properties:
