Chan joined Hang Lung Group in 1972, becoming Chairman in 1991. He also serves as Chairman of Hang Lung Properties Limited, the Group’s major publicly listed subsidiary. Mr Chan is Vice-President of The Real Estate Developers Association of Hong Kong, Co-Chair of the Asia Society and Chairman of its Hong Kong Center. He also acts as an advisor to the China Development Research Foundation
Mr Chan sits on the governing or advisory bodies of several think-tanks and universities, including the Hong Kong University of Science and Technology, the University of Southern California, USA, where he received his MBA, and Tsinghua University in Beijing.
Barclays Plc joined UBS AG and Bank of America Corp. in forecasting a Hong Kong property slump, predicting home prices will fall at least 30 percent by the end of 2015 as income growth stalls and supply increases.
Hang Lung Properties Ltd. Chairman Ronnie Chan said some big developers in China are struggling to get funds and smaller ones may go out of business, spurring opportunities for financially stronger companies.
Home prices near an area that Shanghai has designated as a free-trade zone have surged 30 percent amid expectations the development will boost housing values, according to China’s second-biggest property brokerage.
Land prices in China may drop further and it is still too early to buy land in the country, said Ronnie Chan, Chairman of Hang Lung Properties Ltd., the Hong Kong developer investing at least $8.5 billion in Chinese real estate.
Hang Lung Properties Ltd., the Hong Kong developer that’s investing as much as HK$50 billion ($6.4 billion) building shopping malls in other parts of China, said it’s “financially capable” of doubling that investment.
Hang Lung Properties Ltd., the Hong Kong developer of shopping malls in other parts of China, said half-year underlying profit rose 29 percent after reporting higher rents from its Shanghai properties. The stock surged.
Ronnie Chan , chairman of Hong Kong- based developer Hang Lung Properties Ltd. , said “humongous demand” from consumers and action by the central government reduce the chance that China’s property market will collapse.
Chinese landlords are forgoing rent and paying to outfit stores for mass-market fashion brands including Zara and H&M, a bid to blunt the impact of a boom in shopping-mall construction that threatens to push up vacancies.