Keith Kerr, the former chairman and chief executive of Swire Properties, yesterday replaced ailing casino magnate Stanley Ho Hung-sun as president of the Real Estate Developers Association.
Kerr, who becomes the third leader of the 46-year-old association, was elected to a two-year term.
Ho, 89, was made honorary life president after more than 25 years in the job. His health has declined since a fall at his home in July 2009 that required surgery to remove a blood clot from his brain.
Kerr, who joined Swire Properties in 1975 and has more than three decades of experience in the real estate industry, said: 'Under his [Ho's] leadership, REDA has become an effective voice representing the real estate industry in Hong Kong. In recognition and appreciation of his long-standing contribution, we have unanimously invited Stanley to become our honorary life president.'
Founded by late tycoon Henry Fok Ying-tung under the Societies Ordinance, REDA has more than 500 individual and 300 corporate members. It regulates the business practices of members and considers, investigates and inquires into matters and questions related to real estate and allied business in the city.
Thomas Kwok Ping-kwong was re-elected as the executive vice-president for a two-year term.