Hang Lung Properties

Hang Lung Properties (SEHK: 101, OTC Pink: HLPPY), formerly Amoy Properties and parented by Hang Lung Group, is a Hong Kong real estate company. It is a member of Hang Seng Index Constituent Stocks (blue chip) and is headquartered in the Standard Chartered Bank Building, Central, Hong Kong.

History

Hang Lung Properties Limited was incorporated in 1949 and was taken over by Hang Lung Group Limited in 1980. It became the property investment arm of Hang Lung Group Limited after the group re-organisation in 1987. The company is led by Ronnie Chan.

In November 2010, the company said it was aiming to raise up to HK$10.1 billion through a share placement to finance expansion on the mainland.

Properties

The company’s main properties include Standard Chartered Bank Building, Baskerville House, Hang Lung Centre in Causeway Bay, Kornhill Plaza, Grand Centre in Tsim Sha Tsui, as well as One and Two Grand Tower, Hollywood Plaza, and the Park-In Commercial Centre in Mong Kok.

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