Sep 24, 2020
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You Can Still Make Money In Real Estate In China: Hang Lung Chairman Ronnie Chan

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There s no shortage of skeptics on earth in regards to the outlook for China s real estate market. Yet the chairman of one of the most successful Hong Kong real developers inside the mainland ago twenty years says the rustic remains promising for long-term real estate investors. If you were to invite me today Where are the finest opportunities to make a good number of money? Hang Lung Group Chairman Ronnie Chan said I would say real estate in China


Chan made the remarks at the Real Estate Investment World China 2014 conference held in Shanghai earlier this month during a one-on-one keynote interview that I was invited to carry with him. Beyond his leadership of Hang Lung Chan is influential as the co-chairman of the Asia Society. Hang Lung entered the China real estate market in 1992 which Chan said was late relative to others


If we’ve any success it s not because we got in early. It s in spite of the undeniable fact that we didn t get in early. Hang Lung was founded in 1960 by Chan s father Chan Tseng-Hsi and profited from the former British colony s rise as a world trade and financial hub


Today its market capitalization at the Hong Kong Stock Exchange of $7. 2 billion is without doubt one of the largest among real estate developers whose shares trade there. The family ranked No. 17 at the 2014 Forbes Hong Kong Rich List with wealth of $2. 95 billion. Asked what lessons may be learned from Hang Lung s early success in China Chan said businesspeople should pay keen attention to the main points of the actual market they involved in


Very few people respect the market he said. China s real estate market differed greatly from Hong Kong s at the time Hang Lung first invested inside the mainland. As opposed to expanding into several cities as many Hong Kong developers did that point Hang Lung also tried to succeed only 1 place Shanghai


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— Follow me on Twitter @rflannerychina

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