Hong Kong’s Richest Man Li Ka-shing Sells Hong Kong’s 5th Tallest Building for $5.15 Billion
Li Ka-shing, Chairman of CK Asset Holdings, has sold The Center Tower for $5.15 billion (HKD 40.2 billion). The building is a portfolio of CK Asset Holdings, is Hong Kong’s 5th tallest building and is located in the city’s Central district.
” Li Ka-shing sells The Center Tower for a Record $5.15 Billion “
The buyer is a BVI registered company, C.H.M.T. Peaceful Development Asia Property, that is owned by Beijing-based China Energy Reserve & Chemicals Group (CERCG) (55%) and a group of Hong Kong investors (45%) that includes David Chan Ping-chi, known as the city’s “King of Cassettes” and also chairman of Acme Group. Li Ka-shing is Hong Kong’s richest man and one of Asia’s wealthiest man in Asia.
About CK Asset Holdings
CK Asset Holdings Limited (“CK Asset” or “the Group”) is a leading multinational corporation committed to achieving long-term sustainable growth through continual strengthening of its existing property businesses, and steady enhancement of its recurring income base via prudent investment strategy. The Group has diverse capabilities with activities encompassing property development and investment, hotel and serviced suite operation, property and project management, aircraft leasing, and investment in energy and infrastructure assets that are household equipment services related.
As one of the largest property developers in Hong Kong, CK Asset has a leading market share in Hong Kong, an extensive portfolio in Mainland China, and a significant presence in Singapore and the United Kingdom. With its long history of property development expertise, the Group has built many of Hong Kong’s most notable landmark buildings and complexes, some of which form part of its core asset holdings.
In addition to the property businesses, CK Asset has diversified globally through quality investments with stable recurring revenue on a worldwide basis. It has extended its reach to the energy and infrastructure sector, as well as aircraft leasing, with investments and operations now spanning continental Europe, Australia, Canada and the United Kingdom.
Visit: CK Asset Holdings
Mr. Li Ka-shing is the Chairman of CK Asset Holdings Limited and CK Hutchison Holdings Limited.
Mr. Li was born in 1928 in Chiu Chow, a coastal city in the southeastern part of China. Mr. Li was forced to quit school when he was 12 and fled to Hong Kong with his family to avoid the perils of war. Shortly thereafter, his father suffered from tuberculosis and passed away in Hong Kong. Before he was 15, Mr. Li had to shoulder the responsibility of providing for his family and found a job in a plastics trading company where he labored 16 hours a day. By 1950, his hard work, prudence and his pursuit of excellence had enabled him to start his own company, Cheung Kong Industries. From manufacturing plastics, Mr. Li led and developed his company into a leading real estate investment company in Hong Kong that was listed on the Hong Kong Stock Exchange in 1972. Cheung Kong continued to expand by acquiring Hutchison Whampoa and Hongkong Electric Holdings Limited (renamed Power Assets Holdings Limited) in 1979 and 1985 respectively.
With roots in Hong Kong, the CK Group’s businesses now span the globe, encompassing such diverse areas as ports and related services, retail, infrastructure, energy, telecommunications, property development and investment, hotel and serviced suite operation, property and project management, aircraft leasing and life sciences. Mr. Li is a strong believer in synergy—the power of combined efforts. This belief is reflected in his naming his company Cheung Kong after the Yangtze River that flows through China, a great river that aggregates countless streams and tributaries. The Times in the United Kingdom and Ernst & Young UK jointly named Mr. Li as the Entrepreneur of the Millennium at the turn of the century.
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