Type Public company Website Hang Lung Group Founded 1960 | Key people Chairman Ronnie Chan Headquarters Hong Kong | |
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Industry Real estate, car park, property management, dry cleaning Area served Hong Kong
People's Republic of China Stock price 0010 (HKG) HK$ 31.80 -0.10 (-0.31%)15 Mar, 4:08 PM GMT+8 - Disclaimer Subsidiaries Hang Lung Properties, Believecity Limited | ||
Managing director of hang lung group dr philip chen speaks at shun hing college high table dinner
Hang Lung Group (SEHK: 10), established in 1960, is listed in Hong Kong, engaging in property development for sales and leasing, car park management, property management, and dry cleaning businesses. Its subsidiary Hang Lung Properties is one of the largest property developers in Hong Kong, which also invests in the Mainland China market.
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History
Hang Lung Group Limited was founded by Chan Tseng-Hsi on 13 September 1960, and is now one of Hong Kong's biggest real estate developers. For the first 32 years, the Group operated its business mainly in Hong Kong. It became well known by developing the largest residential complexes along the Mass Transit Railway. The Hong Kong market suffered from a temporary collapse during the early 1980s due to uncertainty surrounding the territory's return to China, but Hang Lung survived the turmoil. The Group operates businesses in property development for sale and lease in Hong Kong. Its investment properties are diversified, ranging from retail, office, residential and serviced apartment developments to industrial and office complexes.
On 1 January 1991, Ronnie Chan took over as the Group's chairman. He foresaw the opportunity to invest in the Mainland China market due to its prosperous economic growth. The Group then turned to its new direction and venture into the Mainland market under Chan's leadership. Its first step into the Mainland, in Shanghai in 1992, was two landmark properties, Plaza 66 and Grand Gateway 66. Following the success of its Shanghai projects, the Group continued to expand its business to others parts of the mainland such as Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming and Wuhan.