Hang Lung’s new chairman sees turbulent property market as an opportunity to ‘learn and grow’
- The group is one of the biggest property companies in Hong Kong, with residential and commercial investments on both sides of the border
Adriel Chan, the new chairman of Hong Kong developer Hang Lung Properties, acknowledged the challenges facing the mainland China and Hong Kong property markets, but at the same time sees the turmoil as an opportunity to grow.
“Some may feel almost sorry [for me] for taking over the group in a turbulent economy, but I think it’s great and there’s nothing like a good crisis for you to learn and grow from,” the new chairman told the South China Morning Post in an interview.
“In the long term, I have complete confidence in the Chinese economy, otherwise, I wouldn’t be investing [in it] myself. My investments are big and they’re continuing, [they] haven’t slowed down and it’s still full speed ahead,” Chan said.
The company plans to continue investing HK$5 billion every year in the market. Asset prices in China have come down, which is an investment opportunity, he added.