Sun Hung Kai Properties facts for kids
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Headquarters at Sun Hung Kai Centre
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| Public | |||||||||||
| Traded as |
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| ISIN | ISIN: [https://isin.toolforge.org/?language=en&isin=HK0016000132 HK0016000132] | ||||||||||
| Industry | Real estate | ||||||||||
| Predecessor | Sun Hung Kai Enterprises | ||||||||||
| Founded |
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| Founder |
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| Headquarters | Sun Hung Kai Centre,
Wan Chai
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Key people
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Raymond Kwok, Chairman and Managing Director | ||||||||||
| Products | Property development, property investment, property management, hotels, telecommunications, information technology and infrastructure | ||||||||||
| Revenue |  HK$85.26 billion (2021) |
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Operating income
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HK$36.67 billion (2021) |
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| HK$27.44 billion (2021) |
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| Total assets |  HK$796.42 billion (2021) |
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| Total equity | HK$599.63 billion (2021) |
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Number of employees
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About 38,000 | ||||||||||
| Chinese name | |||||||||||
| Traditional Chinese | 新鴻基地產發展有限公司 | ||||||||||
| Simplified Chinese | 新鸿基地产发展有限公司 | ||||||||||
| Literal meaning | Sun Hung Kai real estate development limited company | ||||||||||
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| short name | |||||||||||
| Traditional Chinese | 新鴻基地產 | ||||||||||
| Simplified Chinese | 新鸿基地产 | ||||||||||
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Sun Hung Kai Properties Limited (SHKP) is a big company in Hong Kong that builds and manages properties. It's one of the largest property developers there. The company does many things, like selling and renting out buildings, running hotels, and even providing phone services through SmarTone. They also work with technology and help build important city structures. The Kwok family largely controls the company.
History of SHKP
How it Started
The company began in 1963 as Sun Hung Kai Enterprises Co., Ltd. It was founded by three people: Kwok Tak-seng, Fung King-hey, and Lee Shau-kee. The company we know today, Sun Hung Kai Properties Limited, was officially formed in 1972. It then became listed on the Hong Kong Stock Exchange in August 1972, which means its shares can be bought and sold by the public.
In 1973, SHKP bought Hong Yip Service Company Limited, a company that helps manage properties. In 1977, SHKP moved its main office to a new building in Central, Hong Kong.
In 1978, SHKP created Kai Shing Management Services Limited, another company focused on managing buildings. That same year, SHKP started selling homes in its first large housing project, Tsuen Wan Centre. Also in 1978, SHKP became one of the important companies included in the Hang Seng Index, which tracks top companies in Hong Kong.
In 1979, SHKP started Sun Hung Kai Properties Insurance Limited, which offered different types of insurance.
Growth in the 1980s and 1990s
In 1981, SHKP bought a share in Kowloon Motor Bus, a company that runs public buses. In 1982, the company moved its main office to Sun Hung Kai Centre in Wan Chai, which was built on new land.
In 1991, SHKP bought Wilson Parking, a company that manages car parks.
In 1992, SHKP finished building Central Plaza in Wan Chai. At that time, it was the tallest building in Asia! In the same year, the company started a mobile phone service called SmarTone, which is now one of the biggest in Hong Kong. SmarTone became a public company in 1996.
In 1993, SHKP bought the World Trade Centre in Causeway Bay. From the mid-1990s, the company also started building properties near the new airport railway, including areas around the Airport Express Hong Kong Station.
In 1998, a new road called Route 3 (Country Park Section) was opened. In 1999, the Shanghai Central Plaza commercial building was completed in China.
The 21st Century
In 2000, SHKP won the chance to develop a huge project at Kowloon Station. This project became the International Commerce Centre (ICC) complex, which was finished in 2010. The main building of the ICC became the tallest building in Hong Kong when it was completed.
Also in 2000, SUNeVision Holdings Limited, a company owned by SHKP, became listed on the Hong Kong Stock Exchange.
In 2001, SHKP started Signature Homes, a division that rents out homes. In 2002, SHKP set up the SHKP – Kwok's Foundation. This foundation helps with charity projects, especially those focused on education and training.
In 2003, the first homes in YOHO Town in Yuen Long went on sale. That same year, the company made a deal for the Shanghai IFC project in China.
In 2005, SHKP opened APM, which was Hong Kong's first shopping mall that stayed open late at night. Also in 2005, SHKP bought Seiyu (Sha Tin) Company Limited.
In 2009, Ma Wan Park Noah's Ark opened. It was the first Christian theme park in Hong Kong.
In 2013, SHKP bought a large commercial area in Shanghai, China. In 2015, SHKP became a main sponsor for the first Hong Kong Cyclothon, a big cycling event.
In 2016, SHKP gave land in Yuen Long to a charity group to build a community service center. In 2019, SHKP won a bid to develop a commercial site above the West Kowloon high-speed rail station. This large area can be used for offices, shops, and hotels.
Leaders of SHKP
Here are the people who have led Sun Hung Kai Properties:
- Kwok Tak-seng (1972–1990); he was the founder.
- Walter Kwok (1990–2008); the oldest son of Kwok Tak-seng.
- Kwong Siu-hing (2008–2011); the wife of Kwok Tak-seng.
- Raymond Kwok and Thomas Kwok (2011–2014); they were joint chairmen and younger sons of Kwok Tak-seng.
- Raymond Kwok (2014–present); the youngest son of Kwok Tak-seng.
What SHKP Does
SHKP is a big company that builds homes and business places for sale and for rent. They have over 38,000 employees. Their work includes finding land, designing buildings, constructing them, and managing properties. Most of their money comes from selling and renting out properties.
Amazing Buildings and Projects
In 1996, SHKP was the main company that won the right to build Hong Kong's second-tallest building, the International Finance Centre (IFC). SHKP also built the International Commerce Centre (ICC), which is the tallest building in Hong Kong.
International Commerce Centre (ICC)
The ICC in West Kowloon is the tallest building in Hong Kong. It stands 490 meters tall and has 118 floors. This amazing building was even chosen as one of the world's top 125 most important buildings by a famous architecture magazine!
The ICC opened in 2011. Most of the building is used for offices. It also has the Sky100 Hong Kong Observation Deck on the 100th floor, where you can see a 360-degree view of Victoria Harbour. There are also restaurants on the 101st floor. The Ritz-Carlton hotel is located on floors 102 to 118, and it has the world's highest swimming pool on its top floor!
The building has LED lights on its outside that create a light show. This show even set a Guinness World Record for the "largest light and sound show on a single building." You can watch the show twice every night from both sides of Victoria Harbour.
Since 2012, SHKP has hosted an annual event called the SHKP Vertical Run for Charity at the ICC, where people race up the stairs for a good cause.
International Finance Centre (IFC)
The IFC is a large group of buildings that includes the second tallest building in Hong Kong, right after the ICC. It's built above the Hong Kong MTR station. The IFC project was finished in 2006. It has two office towers (One IFC and Two IFC), the Four Seasons Hotel Hong Kong, and the IFC mall. The Hong Kong Monetary Authority, which is like Hong Kong's central bank, bought 14 floors in Two IFC in 2001.
The ifc mall has four floors of fancy shops and restaurants. It's also where Hong Kong's very first Apple retail store opened!
Millennium City
Millennium City is a group of tall buildings built along Kwun Tong Road. Many parts of it have been completed. Millennium City 1, which was the first and largest part, has two 30-story towers that offer a lot of space for businesses.
New Town Plaza
New Town Plaza is a large SHKP project in Sha Tin, Hong Kong. It was built in three parts, including a nine-story shopping mall, the Royal Park Hotel, and homes with another shopping mall. When it was finished in the 1980s, New Town Plaza was the biggest development of its kind in the New Territories.
The Royal Park Hotel is connected to the metro station and the New Town Plaza mall. It's also close to places like Che Kung Temple and the Hong Kong Heritage Museum. The Royal Park Hotel even hosted athletes during the Beijing 2008 Summer Olympic Games for their horse riding events.
apm Shopping Mall
Opened in 2005, apm is a big shopping mall designed for younger people. The name "apm" comes from "AM" and "PM" because its shops stay open late, letting people shop even when most other stores are closed. APM has many shops, restaurants, and fun things to do, and most of them are open until at least midnight.
APM has stores that are popular with a younger crowd. You can also find a cinema, a game zone, and a karaoke bar there.
Helping Families with Homes
SHKP has also helped with a project called United Court. They announced that they would rent three pieces of land to non-profit groups for eight years for a very small fee. This donation will help create about 2,000 homes for low-income families who are waiting for public housing. The company is working with the Hong Kong Sheng Kung Hui Welfare Council on the United Court project. When it's finished in 2022, United Court will provide homes for 1,600 families and help about 5,000 families in total.
Other Things SHKP Does
Besides building and managing properties, SHKP also has other businesses that help support its main work:
- Hotels: They own and operate hotels.
- Property Management: They manage many different types of buildings.
- Telecommunications: They provide phone and internet services.
- Information Technology: They work with technology.
- Infrastructure: They help build important city structures like roads.
Building and Project Management
Sanfield (Management) Limited is a company owned by SHKP that manages most of the construction projects for SHKP's buildings. Started in 1974, Sanfield's main office is in the Sun Hung Kai Centre. This company mainly helps SHKP build homes, office towers, and large mixed-use developments. In 2020, it had about 3,000 employees.
Sanfield offers many services, including landscaping, installing electrical and fire safety systems, and renting out construction equipment. They also provide concrete and precast concrete parts for buildings. The company is approved to provide safety and engineering training in Hong Kong.
Some of their major projects include:
- Sun Hung Kai Centre (1981)
- Two International Finance Centre (2003)
- The Arch (2006)
- The Cullinan (2009)
- International Commerce Centre (2010)
- Millennium City (1998-2022)
- YOHO Series Development (2004-2023)
- Sai Sha Road Expansion Project (2023)
Managing Properties
Hong Yip Service Company Limited and Kai Shing Management Services Limited are two of the main companies owned by SHKP that manage properties in Hong Kong. They make sure buildings are well-maintained and run smoothly.
Images for kids
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The Leighton Hill
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Larvotto
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The Arch
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Royal Peninsula
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Oscar by the Sea
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Pristine Villa
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