Chair & CEO Messages
Chair of Hang Lung Group and Hang Lung Properties, Mr. Ronnie C. Chan, shared his views on the Group’s development and its future in a recent video interview. Below is a summary of the interview. For details, please click the below links to view the videos.
Chair Ronnie C. Chan sees the history of the Group as two distinct phases of development, “In the first 30 years, we went from a high to a low; and in the second 30 years, we rebounded from a low to a high.” The first period actually began with a decade of growth – a brief golden era. “But the Group became more conservative after this, and our growth slowed down,” Ronnie says.
Hang Lung entered the Mainland market in the 1990s, and has successfully established a presence in Shanghai, Shenyang, Jinan, Wuxi, Tianjin, Dalian, Kunming, Wuhan and Hangzhou. “In our second 30 years, we mainly expanded into Mainland China, but that does not mean we’re neglecting Hong Kong,” Ronnie says. Hang Lung acquired a number of properties in Hong Kong for leasing purpose in the early 1990s, and also bought land for development in 2000. Between 2000 and 2010, Hang Lung had been “implementing a two-pronged approach, with business operations in both Hong Kong and Mainland China”.
Looking ahead, Ronnie says that if the Group can acquire a good plot every two years, it can be confident of continued strong growth. “I believe that China’s overall economy will continue to grow in the next 10, 15 or 20 years. Even without taking new projects into account, rent from our existing properties will go up when the economy prospers. Therefore, we can be sure about two things in the next decade – we should make use of the opportunity to buy land, and rental prices will continue to rise. As long as we do not overextend ourselves, the outlook will be very promising.”
Please click on the links to view the videos:
Part 1: Development of Hang Lung Group over 60 Years and Valuable Advice from Founder Mr. Chan Tseng-hsi
Part 2: Five Genes for the Development of Hang Lung, Business Outlook and Words for the Team
The 60th anniversary of the establishment of Hang Lung Group is a remarkable occasion, during which we all should take pride in the Group’s past achievements but also look ahead with confidence that even greater accomplishments lie ahead.
The Group’s first three decades marked its successful growth in Hong Kong. With great foresight from our Chairman to begin expansion into the Mainland market in the early 1990s, and with the tenacious effort of our management and staff, we have now developed 11 landmark commercial projects in nine Mainland cities, representing a balanced 54/46 leasing revenue split between the Mainland and Hong Kong portfolios. This two-pronged approach has given us an unparalleled advantage to achieve stronger business growth. Indeed, with 30 million-plus square feet of completed properties and 20 million square feet in the pipeline across the Mainland, we believe the sky is the limit for our business.
With 60 years of history, and with the support of our shareholders and stakeholders, I am confident that we together as a team will drive sustainable future for the Group and every community we serve in decades to come.