Hang Lung Group

Hang Lung Group
恆隆集團有限公司
Public
Traded as SEHK: 10
Industry Real estate, car park, property management, dry cleaning
Founded 1960
Headquarters Victoria City, Hong Kong
Area served
 Hong Kong
Key people
 Chairman Ronnie Chan
Subsidiaries Hang Lung Properties
Website Hang Lung Group

Hang Lung Group, established in 1960, is an investment holding company that engages in property development for sales and leasing, as well as management of car parks, properties, and dry cleaning businesses.[1] Its subsidiary Hang Lung Properties is one of the largest property developers in Hong Kong, and also invests in the Mainland China market. As of 2018, Hang Lung Group ranked number 1501 in the Forbes Global 2000 list.[2]

History

Hang Lung Group Limited was founded by Chan Tseng-Hsi on 13 September 1960,[3] 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. [3]

On 1 January 1991, Ronnie Chan took over as the Group's chairman.[3] 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.[3]

See Also

References

  1. ↑ "Hang Lung Group Ltd (0010.HK) Company Profile". Reuters. Retrieved 2018-07-17.
  2. ↑ "Hang Lung Group on the Forbes Global 2000 List". Forbes. Retrieved 2018-07-17.
  3. 1 2 3 4 "Corporate Profile". Hang Lung Group Limited. Retrieved 2 April 2013.
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