- Business
- Hang Lung Group Limited (SEHK: 0010) is an investment holding company and one of Hong Kong's most established property developers with over 60 years of experience, primarily operating through its flagship subsidiary Hang Lung Properties Limited (SEHK: 00101); the group engages in property leasing, sales, hotel operations, and related services including property management, car parks, financial services, and dry cleaning across Hong Kong and mainland China, where its portfolio features large-scale mixed-use developments under the "66" brand such as Plaza 66 and Grand Gateway 66 in Shanghai (retail malls, Grade A offices, serviced apartments); Palace 66 and Forum 66 in Shenyang (malls, offices, Conrad Shenyang hotel); Parc 66 in Jinan (mall); Center 66 in Wuxi (mall, offices); Riverside 66 in Tianjin (mall); Olympia 66 in Dalian (mall); Spring City 66 in Kunming (mall, offices, Grand Hyatt Kunming hotel); Heartland 66 in Wuhan (mall, offices); and Westlake 66 in Hangzhou (under development with retail, offices, Mandarin Oriental hotel), alongside Hong Kong assets including the Central portfolio (Standard Chartered Bank Building, 1 Duddell Street, Printing House, Baskerville House), Causeway Bay portfolio (Fashion Walk, Hang Lung Centre), Peak Galleria, Hong Kong East portfolio (Kornhill Plaza, Kornhill Apartments, 228 Electric Road), Mongkok portfolio (Gala Place, Grand Plaza), and Amoy Plaza, targeting high-end retail, office, residential, and hospitality customers in prime urban locations. Founded in 1960 and headquartered at 28/F Standard Chartered Bank Building, 4 Des Voeux Road Central, Hong Kong, the group reported total revenue of HK$5,202 million for the first half of 2025, with property leasing contributing HK$4,912 million (including HK$3,363 million from mainland China malls like Plaza 66 at 98% occupancy, Grand Gateway 66 at 99%, and offices), property sales HK$161 million, and hotels HK$129 million from Conrad Shenyang and Grand Hyatt Kunming. Recent developments include the January 2025 completion of acquiring all units at 8-12A Wilson Road in Hong Kong Island for redevelopment into luxury houses (scheme approved May 2025), a HK$10 billion five-year syndicated term loan and revolving credit facility signed in January 2025 to extend debt maturity, the opening of Grand Hyatt Kunming in August 2024 with a connecting bridge to Spring City 66 in March 2025, ongoing Phase Two of Center 66 in Wuxi (Center Residences presale Q3 2025, Curio Collection by Hilton H2 2025), Pavilion Extension at Plaza 66 in Shanghai (completion 2026 adding 3,080 sqm retail), Kimpton Xujiahui Shanghai at Grand Gateway 66 (opening 2027), Westlake 66 in Hangzhou obtaining completion certificate in July 2025 with hotel opening H2 2026, nationwide 65th anniversary marketing campaigns via HOUSE 66 CRM boosting foot traffic, launch of NET- WORK coworking in Hong Kong's Standard Chartered Bank Building, and disposal of a duplex unit at Summit at The Peak for a HK$27 million gain.