Hang Lung Group

Hang Lung Group 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]

Hang Lung Group
恆隆集團有限公司
TypePublic
SEHK: 10
IndustryReal estate, car park, property management, dry cleaning
Founded13 September 1960
FounderT.H. Chan
Headquarters28/F Standard Chartered Bank Building, Hong Kong
Area served
Hong Kong
Mainland China
Key people
Ronnie Chan (Chairman)
SubsidiariesHang Lung Properties
WebsiteHang Lung Group

History

Hang Lung Group was founded by T.H. Chan on 13 September 1960, and is now one of Hong Kong's biggest real estate developers.[3] 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 and residential developments to industrial and office complexes.[3]

In 1988, it gained control of Parry Corporation in Australia.[4][5] 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 rapid economic growth. Its first step into the Mainland, in Shanghai in 1992, was with 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]

List of chairmen
  1. T.H. Chan (1960–1986); founder
  2. Thomas Chen Tseng-tao (1986–1991); brother of T.H. Chan
  3. Ronnie Chan (1991– ); son of T.H. Chan

See also

References
  1. "Hang Lung Group Ltd (0010.HK) Company Profile". Reuters. Retrieved 17 July 2018.
  2. "Hang Lung Group on the Forbes Global 2000 List". Forbes. Retrieved 17 July 2018.
  3. "Corporate Profile". Hang Lung Group Limited. Retrieved 2 April 2013.
  4. Hang Ling moves on Parry Corp Canberra Times 5 April 1988 page 13
  5. Hang Lung May Take a Bigger Slice of Parry Australian Financial Review 12 May 1988
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