https://www.scmp.com/rss/71554/feed The latest news, analysis and opinion on Nan Fung. In-depth analysis, industry insights and expert opinion. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Mike Chan Mike Chan Ex-NBA star Yao Ming has taken his first foray into basketball investment in almost a decade, joining a host of global heavyweights in backing a fledgling regional college competition. The Asian University Basketball League (AUBL) concluded its Series A funding round, typically used to generate cash for development and expansion, on Thursday. Blue Pool Capital, the family office of Brooklyn Nets owner Joe Tsai, led the round, which built on the Alibaba co-founder’s seed investment last May.... https://www.scmp.com/sport/basketball/article/3349492/ex-nba-star-yao-ming-proud-support-asian-university-basketball-league-investment?utm_source=rss_feed https://www.scmp.com/sport/basketball/article/3349492/ex-nba-star-yao-ming-proud-support-asian-university-basketball-league-investment?utm_source=rss_feed Thu, 09 Apr 2026 13:00:09 +0000 Enoch Yiu Enoch Yiu Hong Kong’s rapidly greying population is creating both policy headaches and fresh business opportunities, from stronger demand for health insurance and retirement products to a growing market for medical services across the border, according to industry leaders. “The ageing population of Hong Kong brings challenges, but at the same time it also adds new business opportunities,” said Stephen Yiu Kin-wah, chairman of the Insurance Authority, at the Asian Insurance Forum on Monday. The government... https://www.scmp.com/business/article/3335637/ageing-hong-kong-opens-new-frontiers-insurers-pensions-and-cross-border-care?utm_source=rss_feed https://www.scmp.com/business/article/3335637/ageing-hong-kong-opens-new-frontiers-insurers-pensions-and-cross-border-care?utm_source=rss_feed Mon, 08 Dec 2025 23:30:08 +0000 Cheryl Arcibal,Salina Li Cheryl Arcibal,Salina Li Hong Kong developers are likely to report weak earnings this year and next despite recent stimulus measures, as the commercial market prepares for a supply glut and residents seek to splurge either on the mainland or overseas, according to ratings agency Moody’s. The forecast comes a week after Chief Executive John Lee Ka-chiu unveiled a more liberal mortgage-financing policy, which added to the optimism that was sparked by global central banks starting to raise interest rates. The less than... https://www.scmp.com/business/article/3283577/hong-kong-developers-ck-asset-sun-hung-kai-swire-feel-earnings-pain-moodys?utm_source=rss_feed https://www.scmp.com/business/article/3283577/hong-kong-developers-ck-asset-sun-hung-kai-swire-feel-earnings-pain-moodys?utm_source=rss_feed Thu, 24 Oct 2024 00:30:08 +0000 More than a quarter of Hong Kong companies want to reduce their office footprint this year amid macro uncertainties, but those in the insurance and legal services sectors are bucking the trend, according to a new survey by Colliers. Of the 358 Hong Kong companies surveyed by the property consultancy, 27 per cent said they intended to downsize their office space, an increase of 6 percentage points from last year. Around 91 per cent said price is the top factor when making rental... https://www.scmp.com/business/article/3268569/quarter-hong-kong-companies-plan-cuts-office-space-2023-says-colliers?utm_source=rss_feed https://www.scmp.com/business/article/3268569/quarter-hong-kong-companies-plan-cuts-office-space-2023-says-colliers?utm_source=rss_feed Sun, 30 Jun 2024 07:00:14 +0000 Hong Kong’s luxury property segment is showing signs of a revival, with mainland Chinese buyers returning to the market after an absence of a few years because of the pandemic. Market observers expect developers to ramp up the supply of luxury property amid increasing demand and likelihood of a potential decline in interest rates later this year. Two brand new properties totalling HK$1.2 billion (US$153.5 million) were bought by different mainland Chinese buyers last week, according to Eddie... https://www.scmp.com/business/article/3249229/mainland-chinese-buyers-return-hong-kongs-luxury-property-market-amid-signs-pickup-activity?utm_source=rss_feed https://www.scmp.com/business/article/3249229/mainland-chinese-buyers-return-hong-kongs-luxury-property-market-amid-signs-pickup-activity?utm_source=rss_feed Sun, 21 Jan 2024 07:51:35 +0000 Colorifix, a finalist for Prince William’s Earthshot prize, aims to bring its environmentally friendly fabric-dyeing solution to markets in China and Southeast Asia in 2025 to help tackle pollution in the garment manufacturing industry. The biotech start-up uses DNA sequences from nature and microorganisms to create pigments that can be fixed onto fabrics in a way that significantly reduces water and chemical usage, as well as the carbon footprint in the dyeing process. The UK firm will make its... https://www.scmp.com/business/commodities/article/3240784/uk-based-colorifix-aims-bring-environmentally-friendly-fabric-dyeing-solution-china-and-southeast?utm_source=rss_feed https://www.scmp.com/business/commodities/article/3240784/uk-based-colorifix-aims-bring-environmentally-friendly-fabric-dyeing-solution-china-and-southeast?utm_source=rss_feed Wed, 08 Nov 2023 10:30:30 +0000 Hongkong Land, the biggest landlord in Hong Kong’s Central business district, has launched a new sustainability scheme to help its office tenants reduce their carbon footprints. It is the latest developer to launch an initiative that forms part of an industry-wide decarbonisation push to reach the city’s climate targets. Through its Tenant Sustainability Partnership Programme (TSPP) launched on Tuesday, the developer aims to improve both its own and its tenants’ environmental performance by... https://www.scmp.com/business/companies/article/3233450/climate-change-hongkong-land-joins-push-make-citys-buildings-greener-scheme-cut-office-tenants?utm_source=rss_feed https://www.scmp.com/business/companies/article/3233450/climate-change-hongkong-land-joins-push-make-citys-buildings-greener-scheme-cut-office-tenants?utm_source=rss_feed Tue, 05 Sep 2023 08:15:12 +0000 A portfolio company of Nan Fung Group’s sustainable fashion and technology innovation platform The Mills Fabrica has launched a clothing collection with retail giant Zara that is made using recycled textile waste. Nan Fung is a joint developer of Mount Nicholson on The Peak, one of the most expensive property projects in Hong Kong and Asia. The clothing range relies on a technology from US-based circular-textile company Circ that recycles so-called polycotton materials – fabrics that blend... https://www.scmp.com/business/banking-finance/article/3221919/circular-economy-zara-debuts-collection-relying-nan-fung-supported-start-ups-innovation-recycles?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3221919/circular-economy-zara-debuts-collection-relying-nan-fung-supported-start-ups-innovation-recycles?utm_source=rss_feed Fri, 26 May 2023 08:30:17 +0000 The buyer of Asia’s most expensive flat in the ultra-luxury Mount Nicholson project on The Peak is Lau Chauin, according to a source close to the deal. Lau, the daughter of Lau Chi-keung, the chairman of Heungkong Group, which has interests ranging from logistics and finance to health care and property development on the mainland, bought flats 16C and 16D in phase three of the exclusive project for a combined HK$1.2 billion (US$154 million) last month. Flat 16D, measuring 4,544 sq ft and three... https://www.scmp.com/business/article/3159653/who-buyer-us82-million-property-peak-asias-most-expensive-flat?utm_source=rss_feed https://www.scmp.com/business/article/3159653/who-buyer-us82-million-property-peak-asias-most-expensive-flat?utm_source=rss_feed Tue, 14 Dec 2021 07:54:02 +0000 Private flats to be built under a plan to tap Hong Kong developers’ land reserves will not necessarily cost more and is a “win-win” solution for all stakeholders, even though most of the land is earmarked for public housing under the proposal, according to Ricky Wong Kwong-yiu, managing director of Wheelock Properties. Under the Land Sharing Pilot Scheme initiated in May last year, owners of farmland can apply to the government to increase the development density of their sites, but they must... https://www.scmp.com/business/article/3149456/wheelock-says-its-proposal-build-homes-under-land-sharing-scheme-win-win?utm_source=rss_feed https://www.scmp.com/business/article/3149456/wheelock-says-its-proposal-build-homes-under-land-sharing-scheme-win-win?utm_source=rss_feed Mon, 20 Sep 2021 23:30:39 +0000 Victoria Finlay Victoria Finlay As I walk up York Way beside King’s Cross railway station, towards one of Hong Kong’s most recent London business openings – and a promising new champion for sustainable innovation – I think of two things. The first is how when I was young, this area was dangerous, with cars crawling the kerbs after dark and the blackened walls of the derelict industrial buildings hiding many indiscretions. And how it now seems bright and safe, with space and glass (and recently cleaned up bricks). The second is... https://www.scmp.com/lifestyle/arts-culture/article/3148781/granddaughter-hong-kongs-king-cotton-yarn-opens-start?utm_source=rss_feed https://www.scmp.com/lifestyle/arts-culture/article/3148781/granddaughter-hong-kongs-king-cotton-yarn-opens-start?utm_source=rss_feed Fri, 17 Sep 2021 04:45:20 +0000 From the site of its historic textile mills dating back to the 1960s, Nan Fung Group’s innovation hub is aiming to transform the fashion industry by nurturing start-ups that reduce waste along the supply chain. The Mills Fabrica, based in the Hong Kong conglomerate’s revitalised project in Tsuen Wan, has been helping to grow start-ups that use new technologies to drive sustainability in the apparel sector. “The mission is to accelerate innovation for sustainability,” said Alexander Chan,... https://www.scmp.com/business/companies/article/3139432/hong-kong-fashion-tech-incubator-looking-make-industry-green?utm_source=rss_feed https://www.scmp.com/business/companies/article/3139432/hong-kong-fashion-tech-incubator-looking-make-industry-green?utm_source=rss_feed Fri, 02 Jul 2021 03:12:52 +0000 An influx of mainland Chinese buyers into Hong Kong’s super-deluxe developments since early this year could further fuel home prices in the world’s most expensive property market, and the trend will become more obvious once the border open. Buyers who settled in Hong Kong from mainland China, dubbed “new Hongkongers” unlike locally born residents, have already made their presence felt in the local real estate market. They bought 38 per cent of Hong Kong’s luxury homes – each priced more than... https://www.scmp.com/business/article/3138256/coronavirus-hong-kong-luxury-property-awaits-shenzhen-border-opening-next?utm_source=rss_feed https://www.scmp.com/business/article/3138256/coronavirus-hong-kong-luxury-property-awaits-shenzhen-border-opening-next?utm_source=rss_feed Tue, 22 Jun 2021 23:30:00 +0000 A car parking bay at the exclusive Mount Nicholson development on The Peak sold for more than HK$10 million (US$1.3 million), smashing a world record set in 2019, according to a source familiar with the sale. The developers Wharf (Holdings) and Nan Fung Group sold 29 parking spaces in phase two and three of the luxury project through a closed tender to homeowners last month, with one of the spots selling for over HK$10 million, the source said. With a standard parking space measuring around... https://www.scmp.com/business/article/3135936/parking-spot-mount-nicholson-peak-hong-kongs-priciest-address-sells-world?utm_source=rss_feed https://www.scmp.com/business/article/3135936/parking-spot-mount-nicholson-peak-hong-kongs-priciest-address-sells-world?utm_source=rss_feed Thu, 03 Jun 2021 10:26:18 +0000 The head of a Hong Kong-listed digital asset platform has paid HK$56 million (US$7.2 million) for a property in the upper-income neighbourhood of Happy Valley. Cryptocurrency veterans have made millions from the explosive development of blockchain technology and sharp increase in the value of digital assets. Bitcoin, Ether and Dogecoin – a tongue-in-cheek, meme-ified version of bitcoin launched in 2013 with a Shiba Inu as its mascot – have hit record highs. Hugh Douglas Madden, CEO of BC Tech... https://www.scmp.com/property/hong-kong-china/article/3121058/chief-executive-hong-kong-listed-digital-asset-platform?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3121058/chief-executive-hong-kong-listed-digital-asset-platform?utm_source=rss_feed Tue, 09 Feb 2021 04:00:22 +0000 Hong Kong’s homebuyers returned to the market, snapping up 83 per cent of the 460 new flats put on sale at two locations in the city’s biggest property sales weekend this year. The city’s subway operator MTR and its real estate partner Nan Fung Group sold 142 of the 179 flats on offer at the third batch of their LP10 project at Lohas Park in Tseung Kwan O as at 8:00pm, scoring a hat trick over three successful weekends of sales. Over at Tuen Mun in the New Territories, Hong Kong Ferry (Holdings)... https://www.scmp.com/business/companies/article/3120838/hong-kongs-developers-score-hat-trick-citys-biggest-home-sales?utm_source=rss_feed https://www.scmp.com/business/companies/article/3120838/hong-kongs-developers-score-hat-trick-citys-biggest-home-sales?utm_source=rss_feed Sat, 06 Feb 2021 09:23:56 +0000 Hong Kong’s homebuyers snapped up 206 new flats, or three of every four units put on the market on Saturday in one of the city’s biggest sales launches, as they sought to park their money in fixed assets amid low interest rates. Nan Fung Group and MTR Corporation sold 173 of the 218 flats on offer at their LP10 project at Lohas Park in Tseung Kwan O as of 5.30pm, as 19 buyers submitted bids for every available unit, according to agents. In Ma On Shan, Sino Land sold 33 of the 58 units of its... https://www.scmp.com/business/article/3119920/hong-kongs-home-buyers-return-droves-helping-nan-fung-and-sino-land-sell?utm_source=rss_feed https://www.scmp.com/business/article/3119920/hong-kongs-home-buyers-return-droves-helping-nan-fung-and-sino-land-sell?utm_source=rss_feed Sat, 30 Jan 2021 11:47:59 +0000 Hong Kong homebuyers gave a lukewarm response to Wheelock Properties’ Monaco residential project in Kai Tak on Friday evening, setting the tone for over 600 units that go on sale at four housing projects up to Sunday. Wheelock said it had sold nearly half of the 90 units. A market source, however, said buyers had only picked up 42 units. The 619 homes, which include eight offered through tender, are the most offered for sale over three consecutive days since September, when 720 units from five... https://www.scmp.com/business/money/article/3119854/wheelocks-monaco-project-kai-tak-receives-lukewarm-response?utm_source=rss_feed https://www.scmp.com/business/money/article/3119854/wheelocks-monaco-project-kai-tak-receives-lukewarm-response?utm_source=rss_feed Fri, 29 Jan 2021 14:42:38 +0000 Hong Kong’s homebuyers piled into the real estate market and ignored a raging coronavirus outbreak in the Kowloon side of the city as they almost cleared out the second new launch of property projects this year. Nan Fung Group and MTR Corporation sold 176 of the 179 flats at the LP10 project at Lohas Park in Tseung Kwan O, receiving more than 5,100 registrations of interest, or 27 bids for every available flat, according to sales agents. The developers, who reported HK$1.6 billion (US$206... https://www.scmp.com/business/article/3118972/hong-kongs-homebuyers-pile-back-real-estate-market-snapping-nan-fungs-lp10?utm_source=rss_feed https://www.scmp.com/business/article/3118972/hong-kongs-homebuyers-pile-back-real-estate-market-snapping-nan-fungs-lp10?utm_source=rss_feed Sat, 23 Jan 2021 09:22:13 +0000 In the first signs of a slowdown in Hong Kong’s office property market, the government withdrew this year’s largest commercial site from tender, while Nan Fung Development lowered the asking rent for a grade A office tower under construction at Kai Tak by up to 20 per cent. Bids for the site in Tung Chung, close to Hong Kong International Airport, were received from Sun Hung Kai Properties, CK Asset Holdings and a joint venture of Sino Land and Kerry Properties. About 90 per cent of the... https://www.scmp.com/business/article/3106516/worlds-costliest-office-market-shows-first-signs-weakness-hong-kong?utm_source=rss_feed https://www.scmp.com/business/article/3106516/worlds-costliest-office-market-shows-first-signs-weakness-hong-kong?utm_source=rss_feed Wed, 21 Oct 2020 11:59:12 +0000 Hong Kong-based property developer Nan Fung deepened its diversification into health care with the announcement on Friday of a joint venture that will produce and sell in mainland China biosimilar versions of medicines used to treat arthritis and cancers. Shanghai-based Vcell Healthcare Limited, set up in collaboration with South Korean biopharmaceutical company Celltrion, will own the rights to develop, manufacture and commercialise three of Celltrion’s major biosimilars – Remsima, Truxima and... https://www.scmp.com/business/article/3019369/hong-kong-developer-nan-fung-launches-arthritis-and-cancer-biosimilars?utm_source=rss_feed https://www.scmp.com/business/article/3019369/hong-kong-developer-nan-fung-launches-arthritis-and-cancer-biosimilars?utm_source=rss_feed Fri, 19 Jul 2019 11:36:19 +0000 Property developers are preparing to accelerate the marketing of new projects, taking advantage of brightening market sentiment after an apparent warming in relations between the US and China following weekend talks at the Group of 20 summit in Japan. At last weekend’s sales, buyers snapped up almost 700 flats at projects that included Wheelock Properties’ Grand Montara in Tseung Kwan O and Wing Tai Properties’ Oma Oma in Tuen Mun. Agents attributed the buoyant reception to improved prospects... https://www.scmp.com/property/hong-kong-china/article/3016944/hong-kong-developers-ramp-sales-buyers-cheer-signs-easing?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3016944/hong-kong-developers-ramp-sales-buyers-cheer-signs-easing?utm_source=rss_feed Wed, 03 Jul 2019 01:00:07 +0000 Last week marked the end of one era and the start of another. The retirement of Hong Kong’s second-richest man, Lee Shau-kee, as chairman of Henderson Land Development means that the so-called Big Four property developers have all officially handed over the reins to the second or even third generation of their respective families. As the old guard of these powerful companies recede from the stage, the new generation of family tycoons should seize the opportunity to chart their own paths and take... https://www.scmp.com/comment/opinion/article/3013069/new-generation-hong-kong-property-tycoons-faces-greater?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3013069/new-generation-hong-kong-property-tycoons-faces-greater?utm_source=rss_feed Wed, 05 Jun 2019 03:30:06 +0000 Hong Kong’s property buyers are back in droves, as commercial banks kept the city’s mortgage rates unchanged amid a dovish policy stance by the local monetary authority. Across the city, four property projects with 607 flats in total were offered for sale in Lohas Park, To Kwa Wan, Yau Tong and West Kowloon in the biggest weekend launch in a year. As of 8pm, 496 of the total offering, or nearly 82 per cent, had been sold, according to sales agents. “The purchasing power accumulated from months... https://www.scmp.com/property/hong-kong-china/article/3002988/hong-kongs-home-buyers-return-droves-banks-kept-mortgage?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/3002988/hong-kongs-home-buyers-return-droves-banks-kept-mortgage?utm_source=rss_feed Sat, 23 Mar 2019 09:30:08 +0000 Sales of newly completed flats flopped for a second consecutive weekend in Hong Kong, as a stock market rout, rising mortgages and the worsening US-China trade war deterred buyers from two newly completed apartment projects in the city. Nan Fung managed to sell only 100 units, or 20 per cent of the 491 flats offered, at its LP6 project at Lohas Park in Tseung Kwan O as of 5:30pm on Saturday, even after discounting the offers by 19.5 per cent, for an average price of HK$16,006 per square foot. At... https://www.scmp.com/property/hong-kong-china/article/2168445/hong-kongs-home-sales-flop-market-rout-higher-mortgages?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2168445/hong-kongs-home-sales-flop-market-rout-higher-mortgages?utm_source=rss_feed Sat, 13 Oct 2018 12:37:08 +0000 Thousands of Hong Kong homebuyers took advantage of Saturday’s calm before a pending super typhoon to get their hands on the second batch of Nan Fung Development’s LP6 flats in Tseung Kwan O, casting aside any concern of rising mortgage rates, or the city’s first bear market in stocks since 2015. The developer sold 464 apartments, or about 95 per cent of the 488 units on offer, for a total sales value of HK$4.28 billion (US$540 million) as of 9pm Saturday, while Super Typhoon Mangkhut was 528... https://www.scmp.com/property/hong-kong-china/article/2164401/thousand-hongkongers-snapped-new-flats-during-calm?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2164401/thousand-hongkongers-snapped-new-flats-during-calm?utm_source=rss_feed Sun, 16 Sep 2018 03:41:23 +0000 Thousands of Hong Kong homebuyers defied a thunderstorm to vie for apartments in the city’s biggest property sale in six months, attracted by developers’ discounts as they slash prices ahead of additional supplies coming on stream. Nan Fung Development sold 460 units of its LP6 project in Lohas Park, or 95 per cent of the 487 units on offer, as of 8:15pm on Saturday. A total of 8,145 people registered for the sale, or 17 buyers vying for every unit, lured by the average discounts of 19.5 per... https://www.scmp.com/property/hong-kong-china/article/2163370/thousands-defy-thunderstorm-snap-nan-fungs-lp6-flats-lohas?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2163370/thousands-defy-thunderstorm-snap-nan-fungs-lp6-flats-lohas?utm_source=rss_feed Sat, 08 Sep 2018 11:00:15 +0000 Nan Fung Development has become the second Hong Kong developer to sell new homes below market price as the property market in the world’s least affordable city starts to feel the effects of rising interest rates, cooling measures and a slowing Chinese economy. Housing policies announced by the city’s Chief Executive Carrie Lam Cheng Yuet-ngor in late June, including a tax on new flats that remain vacant, had played a part in weakening developers’ aggression when pricing homes, according to... https://www.scmp.com/property/hong-kong-china/article/2161078/nan-fung-prices-new-flats-below-market-rate-cooling?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2161078/nan-fung-prices-new-flats-below-market-rate-cooling?utm_source=rss_feed Fri, 24 Aug 2018 00:17:46 +0000 Hong Kong’s developers are racing to exploit a loophole in the vacancy tax announced on June 29 for increasing housing supply, before the city’s Legislative Council mends the gap when it gets around to passing the bill for enacting the levy. The tax, announced by Chief Executive Carrie Lam Cheng Yuet-ngor, would make completed homes that are left vacant for more than six months after receiving the occupation permit liable to a levy equivalent to about 5 per cent of the property value. The policy... https://www.scmp.com/property/hong-kong-china/article/2158239/developers-race-exploit-loophole-hong-kongs-vacancy-tax?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2158239/developers-race-exploit-loophole-hong-kongs-vacancy-tax?utm_source=rss_feed Sat, 04 Aug 2018 02:00:15 +0000 From the outside, 41 Pak Tin Par Street in Tsuen Wan looks like just another old factory building receiving the last rites before the first swing of the wrecking ball. The half-century-old low-rise owned by Nan Fung Group, a Hong Kong property developer, is a dinosaur in an era when luxury flat and office blocks are taking over the city’s old industrial districts. Once deemed by middle-class families as inconveniently located at the end of the red MTR line, Tsuen Wan is now beyond... https://www.scmp.com/culture/arts-entertainment/article/2112837/inside-hong-kong-cotton-mills-being-transformed-old?utm_source=rss_feed https://www.scmp.com/culture/arts-entertainment/article/2112837/inside-hong-kong-cotton-mills-being-transformed-old?utm_source=rss_feed Tue, 26 Sep 2017 09:45:15 +0000 Growing up the youngest of three children, and a member of the third generation of the family that controls the Nan Fung Group, a Hong Kong property developer, Vanessa Cheung has big boots to fill. But her boots weren’t made for walking – at least not in the beginning. As with many Hong Kong children, education was the focus of Cheung’s childhood. Aside from swimming and skipping every day – her mother said it would make her taller – she and her classmates didn’t learn about fitness or body... https://www.scmp.com/lifestyle/health-beauty/article/2083722/she-wants-rope-more-hongkongers-fitness-so-whats-vanessa?utm_source=rss_feed https://www.scmp.com/lifestyle/health-beauty/article/2083722/she-wants-rope-more-hongkongers-fitness-so-whats-vanessa?utm_source=rss_feed Fri, 31 Mar 2017 04:30:30 +0000 Edwin Leong Siu-hung, the founder of Tai Hung Fai Enterprise and Hong Kong’s 17th-wealthiest businessman of 2016, has been confirmed as the buyer of Asia’s most expensive residential property. Leong and a family member paid a total of HK$1.22 billion (US$157.3 million) for three units of the exclusive Mount Nicholson apartments at The Peak on November 8. Leong bought a 4,566 sq ft unit on the seventh floor for HK$312 million, or HK$68,481 per square foot, while a relative bought two adjoining... https://www.scmp.com/property/hong-kong-china/article/2048337/hong-kongs-king-shops-edwin-leong-adds-asias-priciest?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/2048337/hong-kongs-king-shops-edwin-leong-adds-asias-priciest?utm_source=rss_feed Tue, 22 Nov 2016 11:30:45 +0000 A Hong Kong biotechnology start-up using fish embryos to test for toxic substances in food or cosmetics has raised investment from Nan Fung Group led by chief executive Antony Leung Kam-chung, the former financial secretary of the city’s government. Vitargent (International) Biotechnology announced on Thursday it has raised an undisclosed sum in a Series B round led by property developer Nan Fung Group, with Leung to chair the company’s Business Advisory Committee. Vitargent will use the... https://www.scmp.com/tech/article/1955811/hong-kong-biotech-start-raises-funds-nan-fung-group?utm_source=rss_feed https://www.scmp.com/tech/article/1955811/hong-kong-biotech-start-raises-funds-nan-fung-group?utm_source=rss_feed Thu, 26 May 2016 12:38:14 +0000 Privately run Nan Fung Development has teamed up with Shanghai Industrial Urban Development Group (SIUD) to buy the majority owner of trade exhibitions venue Shanghaimart for US$579.3 million. The deal marked the Hong Kong-based developer's major investment in Shanghai and the group said it planned to enlarge its investment portfolio on the mainland, even though the market has been weighed by rising housing inventory and sluggish sales. SIUD is a subsidiary of Shanghai Industrial Holdings, the... https://www.scmp.com/business/china-business/article/1600808/nan-fung-eyes-expansion-property-portfolio-china?utm_source=rss_feed https://www.scmp.com/business/china-business/article/1600808/nan-fung-eyes-expansion-property-portfolio-china?utm_source=rss_feed Fri, 26 Sep 2014 04:43:17 +0000 Guessing how Cheung Kong will price City Point, the housing estate in Tsuen Wan it plans to launch with Nan Fung soon, has been a popular game recently for property agents such as Eva Tse. "The project has more than 1,700 units. The developer will probably offer a big price range for various potential buyers. But I believe they will not undercut secondary home prices," said Tse, assistant sales director of Centaline Property Agency's Tsuen Wan and Belvedere branch. "This is the first large-scale... https://www.scmp.com/property/hong-kong-china/article/1505769/city-point-pricing-wont-undercut-secondary-market-property?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/1505769/city-point-pricing-wont-undercut-secondary-market-property?utm_source=rss_feed Tue, 06 May 2014 07:15:30 +0000 Donald Choi Wun-hing worked in the well-known architecture firm Foster and Partners for eight years before he joined Nan Fung Development, where he is managing director. As an architect, he is familiar with the various aspects of property development, from town planning and design to construction. It has helped him lead the company in overcoming the challenges in the property market. The late Chen Din-hwa founded Nan Fung Textiles in 1954 and expanded into the property market in the 1960s. Now... https://www.scmp.com/property/hong-kong-china/article/1461669/you-dont-need-own-flat-improve-your-living-environment?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/1461669/you-dont-need-own-flat-improve-your-living-environment?utm_source=rss_feed Tue, 01 Apr 2014 06:45:30 +0000 Facing soaring construction costs and falling property prices, Nan Fung Development has had to adopt new strategies to maintain its profit margins. Donald Choi Wun-hing, the company's managing director, said: "Construction costs have surged from HK$1,000 to at least HK$3,000 to HK$4,000 per square foot over the past few years. "About 50 per cent of construction cost is wages for labour. Unless there is a policy to solve the problem of labour shortage, construction costs will continue to... https://www.scmp.com/property/hong-kong-china/article/1459223/nan-fung-finds-ways-reduce-construction-costs?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/1459223/nan-fung-finds-ways-reduce-construction-costs?utm_source=rss_feed Tue, 01 Apr 2014 06:45:00 +0000 Nan Fung Development managing director Donald Choi Wun-hing has poured cold water on rising speculation that the firm is preparing the city's first major real estate share listing since 2012. Market talk has swirled about a possible HK$100 billion listing for Nan Fung since it was revealed in November that former financial secretary, Antony Leung Kam-chung, had been hired as chief executive of the privately led property developer. "We don't have a schedule for a public offering. We don't need to... https://www.scmp.com/property/hong-kong-china/article/1446898/nan-fung-denies-new-chief-antony-leung-hired-gear-relisting?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/1446898/nan-fung-denies-new-chief-antony-leung-hired-gear-relisting?utm_source=rss_feed Wed, 12 Mar 2014 02:15:00 +0000 Fat profit margins may soon be a thing of the past for Hong Kong developers as they get squeezed by falling home prices on one hand and soaring construction costs on the other, coupled with increased competition from mainland rivals that bid up land prices. Most analysts see home prices in the city falling 10-15 per cent this year, inflicting more pain on developers as they build new projects on land they have been buying at premium prices since 2010. Hong Kong developers enjoyed gross profit... https://www.scmp.com/property/hong-kong-china/article/1441672/hong-kong-developers-profit-margins-squeezed?utm_source=rss_feed https://www.scmp.com/property/hong-kong-china/article/1441672/hong-kong-developers-profit-margins-squeezed?utm_source=rss_feed Thu, 06 Mar 2014 03:25:10 +0000 The late founder of property developer Nan Fung Group died of dementia and prostate cancer last year, the Coroner's Court ruled yesterday. Chen Din-hwa, 89, died of natural causes, a jury concluded unanimously after a half-day hearing before Coroner Michael Chan Pik-kiu. The inquest was required because Chen was under a guardianship order from the Social Welfare Department when he died on June 17. His family is in dispute over his multibillion-dollar estate. Chen was suffering from final-stage... https://www.scmp.com/news/hong-kong/article/1238476/nan-fung-founder-chen-din-hwa-died-natural-causes-inquest-rules?utm_source=rss_feed https://www.scmp.com/news/hong-kong/article/1238476/nan-fung-founder-chen-din-hwa-died-natural-causes-inquest-rules?utm_source=rss_feed Wed, 15 May 2013 16:00:00 +0000 The former wife of Chen Din-hwa, late founder of the Nan Fung Group, has sued her daughter over properties worth "substantially" more than HK$1.5 billion, court papers show. Yang Foo-oi, 88, sued her daughter Vivien Chen Wai-wai as early as 2010, but the details were revealed only yesterday in a High Court judgment over another of the family's lawsuits. Chen Din-hwa, dubbed the "King of Cotton Yarn", died in June at the age of 89. According to court documents, under an arrangement the father... https://www.scmp.com/news/hong-kong/article/1186745/nan-fung-family-embroiled-lawsuit-over-billion-dollar-inheritance?utm_source=rss_feed https://www.scmp.com/news/hong-kong/article/1186745/nan-fung-family-embroiled-lawsuit-over-billion-dollar-inheritance?utm_source=rss_feed Fri, 08 Mar 2013 16:00:00 +0000 Nan Fung Shipping is mulling its options over two massive oil tankers it owns and has on charter to Sanko Steamship, Japan's fourth-largest shipping company which filed for bankruptcy protection on July 2. Several shipbrokers and tanker operators had already been in contact with Nan Fung Shipping to discuss possible deals, a source close to the company said. 'We are looking at options supposing Sanko allows us to take back the vessels,' the source said, adding that while the company was... https://www.scmp.com/article/1007608/nan-fung-mulls-options-after-sanko-debacle?utm_source=rss_feed https://www.scmp.com/article/1007608/nan-fung-mulls-options-after-sanko-debacle?utm_source=rss_feed Mon, 23 Jul 2012 16:00:00 +0000 Security guards keep the public at bay at the private funeral service for Chen Din-hwa, founder of the Nan Fung Group, at the Hong Kong Funeral Home in Quarry Bay yesterday. Chen's elder daughter, Angela Chen, and her husband, Tang Man-fai, arrived at the parlour in the morning. Other guests refused to exit their cars until guards and parlour staff rolled down a garage door to protect their identities. At one point, police were called to ensure no journalists had entered the funeral home. ... https://www.scmp.com/article/1004730/last-line-defence?utm_source=rss_feed https://www.scmp.com/article/1004730/last-line-defence?utm_source=rss_feed Fri, 22 Jun 2012 16:00:00 +0000 In 2009 Vivien Chen Wai-wai took over the reins at the Nan Fung Group in an impatient mood. She wanted to maintain the expansion pace set by her father, Chen Din-hwa, who founded the now-unlisted Nan Fung business empire in 1954. 'Previously, our marketing was not good enough. We should put more effort into that,' Chen told the South China Morning Post in June last year. 'We want people to know that Nan Fung is not a second- or third-tier developer. We want to strive so that people know Nan... https://www.scmp.com/article/1004404/driven-succeed-tycoons-daughter-has-big-ambitions?utm_source=rss_feed https://www.scmp.com/article/1004404/driven-succeed-tycoons-daughter-has-big-ambitions?utm_source=rss_feed Tue, 19 Jun 2012 16:00:00 +0000 Before the Chen family feud erupted onto the front pages of Hong Kong's newspapers two years ago, patriarch Chen Din-hwa and his kin were best known for being little known. Chen, one of the Hong Kong's wealthiest men who died at the weekend aged 89, rarely gave interviews and was seldom seen in public despite his privately run property empire Nan Fung Group being one of the city's major players. In a typically low-key announcement, granddaughter Karen Cheung said Chen had passed away after a... https://www.scmp.com/article/1004405/family-fraying-edges?utm_source=rss_feed https://www.scmp.com/article/1004405/family-fraying-edges?utm_source=rss_feed Tue, 19 Jun 2012 16:00:00 +0000 Competitive rents and a new business environment in Kowloon East, have ensured a rapid take-up of space in Nan Fung's new office project, Octa Tower in Kowloon Bay, the developer says. 'The take-up of space at Octa Tower has reached about 60 per cent. It will be fully let by the end of the year,' Nan Fung managing director Donald Choi Wun-hing said. Located in Lam Chak Street on the waterfront in Kowloon Bay, near the former Kai Tak Airport area, Octa Tower is a 30-storey grade-A office... https://www.scmp.com/article/1001719/low-rents-lure-big-clients-kowloon-east?utm_source=rss_feed https://www.scmp.com/article/1001719/low-rents-lure-big-clients-kowloon-east?utm_source=rss_feed Tue, 22 May 2012 16:00:00 +0000 Developers are releasing new flats at lower prices to woo buyers amid a lull in the market. Sun Hung Kai Properties yesterday released the price list of 86 more units at its development The Wings in Tseung Kwan O, with an average price of HK$7,193 per square foot. That is nearly 20 per cent lower than the average price of 49 units released last week. The latest batch of flats comprises two-bedroom units of between 692 and 697 sq ft. They range between HK$6,793 and HK$7,774 per sq ft, or... https://www.scmp.com/article/985785/hk-developers-cut-flat-prices-boost-sales?utm_source=rss_feed https://www.scmp.com/article/985785/hk-developers-cut-flat-prices-boost-sales?utm_source=rss_feed Wed, 23 Nov 2011 16:00:00 +0000 Nan Fung and Kerry Properties both plan to launch top-end properties in Happy Valley. Nan Fung will be launching Winfield Building in Ventris Road. The twin-tower project offers 84 units starting from 2,000 sqft. The project is a refurbishment of two 21-storeys of former senior civil servants' quarters. Kerry is marketing The Altitude, developed jointly with Peterson Group, in Shan Kwong Road. The Altitude offers 126 units of about 1,900 sqft each, with a lavish clubhouse. https://www.scmp.com/article/979130/new-valley?utm_source=rss_feed https://www.scmp.com/article/979130/new-valley?utm_source=rss_feed Thu, 15 Sep 2011 16:00:00 +0000 Developer Nan Fung reached an agreement to buy the Urban Renewal Authority's share in the remaining 87 units of their Queen's Cube project after failing to sell the flats. The price at which Nan Fung is buying the flats is based on the price offered to the public last year. The buyback comes about after only nine of the 96 flats at 239 Queen's Road East were sold since the project was launched nearly a year ago. The launch price of HK$17,000 per square foot on average raised eyebrows,... https://www.scmp.com/article/979106/nan-fung-buys-back-unsold-flats?utm_source=rss_feed https://www.scmp.com/article/979106/nan-fung-buys-back-unsold-flats?utm_source=rss_feed Wed, 14 Sep 2011 16:00:00 +0000 Nan Fung Development will launch a luxury residential project in Happy Valley for sale as early as this month, with rental and selling prices expected to set new highs for the area. 'Prices can challenge those in the district to set a new high,' Raymond Lai Hok-leung, deputy general manager of Nan Fung's property department, said in a press conference about the Winfield Building project on Ventris Road. Nan Fung bought two of three residential blocks in Winfield Building at 1, 3 and 5... https://www.scmp.com/article/977902/nan-fung-estate-may-set-price-records?utm_source=rss_feed https://www.scmp.com/article/977902/nan-fung-estate-may-set-price-records?utm_source=rss_feed Thu, 01 Sep 2011 16:00:00 +0000