Sun Hung Kai Properties facts for kids
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Headquarters at Sun Hung Kai Centre
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| 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 very large company in Hong Kong. It is one of the biggest companies that builds and manages properties. SHKP sells and rents out buildings. They also run hotels, telecommunications companies like SmarTone, and even transport services. The Kwok family largely controls this company.
Company History
Starting the Company
The company began in 1963 as Sun Hung Kai Enterprises Co., Ltd. It was started by three people: Kwok Tak-seng, Fung King-hey, and Lee Shau Kee. The company we know today, Sun Hung Kai Properties Limited, officially started on July 14, 1972. It became a public company on the Hong Kong Stock Exchange on August 23, 1972.
In 1973, SHKP bought Hong Yip Service Company Limited. This company helps manage properties. In 1977, SHKP moved its main office to Connaught Centre in Central.
SHKP started Kai Shing Management Services Limited in 1978. This company also helps manage buildings. In the same year, SHKP sold its first large group of homes called Tsuen Wan Centre. SHKP also became one of the top 33 companies on the Hang Seng Index in 1978.
In 1979, SHKP created Sun Hung Kai Properties Insurance Limited. This company offered different types of insurance.
Growth in the 1980s and 1990s
In 1981, SHKP bought a part of Kowloon Motor Bus. This company provides public transport. In 1982, SHKP moved its main office to Sun Hung Kai Centre in Wan Chai.
SHKP bought Wilson Parking in 1991. This company manages parking lots.
In 1992, SHKP finished building Central Plaza in Wan Chai. It was the tallest building in Asia at that time. In the same year, the company started a mobile phone company called SmarTone. SmarTone is now one of Hong Kong's main mobile providers.
In 1993, SHKP bought the World Trade Centre in Causeway Bay. From the mid-1990s, the company built properties near the new airport railway. This included areas around the Airport Express Hong Kong Station.
Route 3 (Country Park Section) opened in 1998. In 1999, the Shanghai Central Plaza building was finished.
The 21st Century
In 2000, SHKP won the right to develop parts of Kowloon Station. This project became the International Commerce Centre (ICC) complex. The ICC was finished in 2010. It became the tallest building in Hong Kong when it was completed.
On March 17, 2000, SUNeVision Holdings Limited, a company owned by SHKP, became a public company.
In 2001, SHKP started Signature Homes. This part of the company focuses on renting out homes.
In 2002, SHKP set up the SHKP – Kwok's Foundation. This foundation helps with charity projects, especially in education and training.
In 2003, the first homes in YOHO Town in Yuen Long went on sale. That same year, the company made an agreement for the Shanghai IFC project.
SHKP opened APM in 2005. It was Hong Kong's first shopping center that stayed open late at night. In 2005, SHKP also 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's Xujiahui district.
In 2015, SHKP became a main sponsor for the first Hong Kong Cyclothon.
In 2016, SHKP gave land in Yuen Long to Hong Kong Sheng Kung Hui. This land was used to build a community service center.
In 2019, SHKP won the bid for a large commercial area above the West Kowloon High-Speed Rail Terminus. SHKP's offer of over HK$42 billion won the site. This area can be used for offices, shops, and hotels.
Leadership Changes
In 2012, there were investigations involving some people linked to SHKP. As a result, there were changes in the company's leadership. Raymond Kwok became the Chairman and Managing Director in 2014.
Leaders of the Company
- Kwok Tak-seng (1972–1990); 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, younger sons of Kwok Tak-seng
- Raymond Kwok (2014– ); the youngest son of Kwok Tak-seng
Company Business
SHKP is one of the biggest property companies in Hong Kong. It builds homes and business places for sale and for rent. The company has over 38,000 employees. They handle everything from buying land to building and managing properties. In the financial year 2018/19, the company earned HK$85,302 million. Most of its earnings came from selling and renting properties.
Land Holdings
As of June 30, 2019, SHKP owned a lot of land in Hong Kong. This included 32.9 million square feet of buildings that were already finished and rented out. They also had 25.1 million square feet of properties still being built.
On the mainland, SHKP held 65.4 million square feet of land. This included 50.6 million square feet of properties being built. They also had 14.8 million square feet of completed properties.
Credit Ratings
SHKP has always received very high credit ratings. This means that financial experts believe the company is very good at managing its money. Moody's gave the company an A1 rating, and Standard & Poor's gave it an A+ rating.
Building Projects
Homes in Hong Kong
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SHKP has built many residential projects in Hong Kong. Some of these include:
- The Arch
- The Belcher's
- Castello
- Chelsea Court
- City One
- The Cullinan
- East Point City
- Harbour Green
- Harbour Place
- Larvotto
- The Latitude
- The Leighton Hill
- Les Saisons
- Manhattan Hill
- Mayfair Gardens
- Oscar by the Sea
- Park Central
- Park Island
- Pristine Villa
- Royal Ascot
- Royal Peninsula
- Sham Wan Towers
- Villa Esplanada
- Woodland Crest
- YOHO Town
Commercial Buildings in Hong Kong
International Commerce Centre (ICC)
The International Commerce Centre (ICC) in West Kowloon is the tallest building in Hong Kong. It is 490 meters tall and has 118 floors. This building was chosen as one of the world's most important architectural works.
The ICC opened in 2011. Most of the building is used for offices. The ICC also has the Sky100 Hong Kong Observation Deck on the 100th floor. From here, you can see a 360-degree view of Victoria Harbour. There are also restaurants on the 101st floor. The Ritz-Carlton hotel is on floors 102 to 118. The world's highest swimming pool is on the top floor, as part of the hotel.
The building has LED lights on its outside for a light show. This show set a Guinness World Record for the "largest light and sound show on a single building." The show happens twice every night. You can see it from both sides of Victoria Harbour.
SHKP also hosts an annual charity run at the ICC called the SHKP Vertical Run for Charity.
International Finance Centre (IFC)
The International Finance Centre is a large group of commercial buildings. It includes the second tallest building in Hong Kong, after the ICC. It is located above the Hong Kong MTR station. SHKP was one of the companies that developed this project. The IFC project was finished in September 2006. It has over 4 million square feet of space. It includes two office towers, the Four Seasons Hotel Hong Kong, and the IFC mall. The Hong Kong Monetary Authority owns 14 floors in Two IFC.
The ifc mall has four floors of luxury shops and restaurants. Hong Kong's first Apple retail store is also located here.
Millennium City
Millennium City is a group of towers built along Kwun Tong Road. By 2016, many parts of this project were finished.
Millennium City 1 was the first part to be completed. It has two 30-story towers. These two towers together provide 1,230,000 square feet of office space.
New Town Plaza
New Town Plaza is a large SHKP project in Sha Tin, Hong Kong. It was built in three stages. Phase 1 is a 9-story shopping mall. Phase 2 is the Royal Park Hotel. Phase 3 has private homes and a 3-story shopping mall. New Town Plaza was the biggest project of its kind in the New Territories when it was finished in the 1980s.
The Royal Park Hotel is connected to the metro station and the New Town Plaza mall. It is also close to places like Che Kung Temple and the Hong Kong Heritage Museum. The Royal Park Hotel hosted athletes during the Beijing 2008 Summer Olympic Games.
apm Shopping Mall
Opened in March 2005, apm is a large shopping mall for younger people. The name APM comes from AM and PM. This shows that the shops in the mall stay open late. This lets people shop even when most other stores are closed. APM has many shops, restaurants, and fun activities. Most of them are open until at least midnight.
APM has many brands that are popular with a younger crowd. It also has a cinema, a game zone, and a karaoke bar.
Transitional Housing Project - United Court
SHKP announced that it would rent three pieces of land to non-profit groups for 8 years. They rented the land for a very small fee of HK$1. This donation will create about 2,000 homes for families with low incomes. These families are waiting for public housing. The company is working with the Hong Kong Sheng Kung Hui Welfare Council for the biggest project, called United Court. When finished in 2022, United Court will provide homes for 1,600 families. It will help about 5,000 families in total.
Other Businesses
SHKP also has other businesses that support its property work. These include:
- Hotels
- Property management
- Telecommunications
- Information technology
- Infrastructure and other businesses
Building and Project Management
Sanfield (Management) Limited is a company owned by SHKP. It is the main company that manages construction projects for SHKP's buildings. Sanfield was started in 1974. Its main office is at Sun Hung Kai Centre. The company mostly builds homes, office towers, and large mixed-use developments for SHKP. In 2020, it had about 3,000 employees.
Sanfield offers many services to SHKP and other companies. These include landscaping, electrical systems, and fire prevention systems. They also rent out construction equipment. The company also provides concrete and precast concrete parts. Sanfield is approved to give construction safety training and engineering training.
Some of its 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)
Property Management Services
Hong Yip Service Company Limited and Kai Shing Management Services Limited are two main property management companies owned by SHKP in Hong Kong. They help manage many of the buildings SHKP develops.
