Hang Lung Group Limited (stock code: 10) is one of the most well-established listed companies in Hong Kong with more than 50 years of experience in the property development market. Through its subsidiary, Hang Lung Properties Limited (stock code: 101), the Group has built a high reputation as a top tier property developer in Hong Kong and for building, owning and managing world-class commercial complexes in key cities on the Mainland.
The Group was founded on September 13, 1960, by Mr. Chan Tseng-Hsi and soon progressed to become one of the largest real estate developers in Hong Kong. Since its founding, the Group has strictly adhered to the highest levels of corporate governance and is justly regarded as one of the best run companies in Hong Kong. In a study conducted in November 2009 by the Hong Kong Institute of Directors together with a local university on the governance of 146 publicly listed companies, the Group was the only real estate firm among the 10 best.
For its first 32 years, the Group operated almost exclusively in Hong Kong. It gained prominence by developing some of the biggest residential complexes along the Mass Transit Railway. In the early 1980s, the Hong Kong market temporarily collapsed over uncertainty surrounding the territory’s sovereignty. However thanks to prudent and sound management, Hang Lung weathered the storm, although, as the current Chairman would later point out, the Group had “gone to sleep” during this period. At present, the Group’s businesses in Hong Kong include property development for sale and lease, with a diversified portfolio of investment properties ranging from retail, office, residential and serviced apartment developments to industrial/office complexes, all in prominent locations.
On January 1, 1991, Mr. Ronnie C. Chan took over as Chairman of the Group and foresaw the golden opportunities presented by the Mainland’s dynamic economic growth. It was under his visionary leadership that the Group embarked upon its new direction by venturing into the Mainland market. With a judicious focus on commercial real estates and targeting “the best locations in major populated centers”, the Group took its first steps into the Mainland in Shanghai in 1992 with two landmark properties, Plaza 66 and Grand Gateway 66.
Riding on the success of the Shanghai projects, the Group embarked on its unique strategy of building and managing world-class commercial complexes by acquiring large sites in heavily populated urban areas, cooperating only with top architectural firms, incorporating the latest sustainable features and providing superb management. The Group’s footprint has expanded to Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming and now to Wuhan, following the successful acquisition of a prime site in that city in February 2013, with all the Mainland projects carrying the “66” brand. Subsequent to the grand openings of Parc 66 in Jinan as well as Palace 66 and Forum 66 in Shenyang over the past few years, Center 66, another world-class investment property in Wuxi, has also come into operation since September 2013. The “66” brand has become a household name across the nation, standing for an unparalleled array of international retail brands and an unmatched reputation as the shopping destination of choice for high-end consumers.
With its successful presence on the Mainland and upholding an appropriate corporate culture first established by its founder, allied with good corporate governance
under an excellent leadership of Board of Directors
and a superb and dedicated management team
, the Group is well-positioned to enter what Chairman Ronnie C. Chan describes as its “Golden Era” . It will continue to expand its presence with the goal of becoming the highly admired mega national commercial property enterprise in the market.