Victor Li and Richard Li, the sons of Hong Kong’s richest man Li Ka-shing, work together for first time on heritage project
- FWD, the insurance arm of Richard Li, acquired a lease for a part of the 1881 Heritage complex in Tsim Sha Tsui from CK Asset, which is chaired by his elder brother Victor Li
A newly refurbished heritage project in the tourist hotspot of Tsim Sha Tsui is the result of an unusual collaboration.
The revamp of 1881 Heritage, a historical building that housed the former Marine Police Headquarters, involved the two sons of Hong Kong’s richest man Li Ka-shing and their companies working together on a project for the first time.
Victor Li Tzar-kuoi, 54, and his younger brother Richard Li Tzar-kai, 52, on Wednesday co-hosted a ceremony with Chief Executive Carrie Lam Cheng Yuet-ngor for the opening of House 1881, which comprises a boutique hotel and five restaurants, located within the main building at 1881 Heritage.
Victor Li, who took over as chairman of CK Asset Holdings from his father last year after his retirement, has always worked at the property developer.
Richard Li worked at Hutchison Whampoa (the predecessor to CK Hutchison) but left the group in the 1990s and set up his own business. His telecommunication and financial conglomerate, Pacific Century Group, includes the life insurance arm FWD Group, which was involved in the project.