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.
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.
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.
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 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.