Far East Consortium on rapid expansion beyond Hong Kong
Q&AFar East Consortium International has expanded rapidly since Chris Hoong joined the companyin 2008, from having one site to 20 property projects and expanding beyond the city's shores
Chris Hoong Cheong Thard was an investment banker for more than 12 years and held senior positions at Deutsche Bank and UBS where he was responsible for corporate finance business in Asia. In 2008, he joined Far East Consortium International as managing director and was responsible for the formulation and implementation of the company's overall strategies for development. He brings with him a wealth of knowledge in corporate development and extensive experience in mergers and acquisitions as well as international capital markets.
Hoong, a member of the Institute of Chartered Accountants in England and Wales, is also a non-executive director of Far East Consortium's 73.97 per cent-owned hotel operator Dorsett Hospitality International. He has a degree in mechanical engineering from Imperial College, University of London.
Far East Consortium resumed buying land in Hong Kong two years ago after Chief Executive Leung Chun-ying increased land supply to cool the red-hot property market. It secured four small development sites amid fierce competition.
The company has not limited its investment in the city and has expanded its footprint beyond Hong Kong. Its strategy was proven right as it won a mega integrated development project in Australia in July.
In the past seven to eight years, we grew from one development site into 20 active residential property projects with total saleable floor area of about 5.8 million sq ft under various stages of development. They are in Hong Kong, Guangzhou, Shanghai, Melbourne, Perth and London.