Kowloon Development Company

Kowloon Development Company Limited (Chinese: 九龍建業有限公司) (SEHK: 0034) is a property development company based and listed in Hong Kong. It focuses on the property development and investment sector. Kowloon Development is also a stakeholder of Polytec Asset Holdings Limited (SEHK: 0208).[1]

Kowloon Development Company Limited
TypePublic
IndustryProperty Development, Property Investment
FoundedJanuary 24, 1961 (1961-01-24)
FounderOr Wai Shuen
Headquarters
Hong Kong
,
China
Area served
Hong Kong, Mainland China, Macau
Key people
  • Or Wai Shuen - Chairman and Executive Director
  • LaI Ka Fai - Executive Director
  • Or Kui Kwan - Executive Director
  • Lam Yung Hei - Executive Director
Products
  • 63 Pok Fu Lam
  • Times Square
Number of employees
864
Websitehttp://www.kdc.com.hk/en/home/index.php

History

In January 1961, the main stakeholder of Kowloon Motor Bus, Ng Siu Chan (Chinese: 伍兆燦),[2] as well as William Sui-tak Louey (Chinese: 雷瑞德) and other businessmen, founded Kowloon Development Company.[3] The company started as a local developer mainly focusing on property development in Hong Kong.

In 1982, the company founded a subsidiary, Golden Princess Amusement Co Ltd, in order to target a market segment in the local filming industry and open up its market and sales to public entertainment.[4]

In 1995, the company was listed on the main board of Hong Kong Stock Exchange, with the stock code 0034.[5][6]

In 2002, the company was acquired by Polytec Macau, a company also owned by Or Wai Sheun.[7] Later in 2005, the company acquired Polytec Asset, which was in heavy debt at that time. From 2010, the company started buying numerous lands through different methods, such as auctions and redevelopment enforced auctions of older buildings.[8][9][10]

References
  1. NIU Weijun (April 2007). The Effect of Fair Value Accounting in HKAS 40 on Real estate companies Listed in Hong Kong (PDF) (Thesis). Hong Kong Baptist University.
  2. "Director Profile Hong Kong Stock Exchange" (PDF). Hong Kong Stock Exchange Newsroom.
  3. "疑涉合併家族信託控股 雷氏成九巴第二大股東 - 20170926 -". 明報財經網. Retrieved 2020-02-21.
  4. 吳滌非 (2019-01-01). 新世紀的風景:當代華語電影散論 (in Chinese). 北京時代華文書局有限公司. ISBN 978-7-5699-2774-0.
  5. "信報即時新聞 -- 【價值工房】九龍建業盈利紮實價值靜待釋放". 信報即時新聞. Retrieved 2020-02-21.
  6. 財華社_財華網_財華社集團. "九龍建業(00034-HK)收購宜居顧問服務7.9%股權". 財華網(財華社) (in Chinese (Taiwan)). Retrieved 2020-02-21.
  7. "堪稱「Macao李嘉誠」：地產大鱷香港保利達主席柯為湘的左膀右臂" (in Chinese (Hong Kong)). Retrieved 2020-02-21.
  8. "Kowloon Development in HK$1.16b placement". South China Morning Post. Retrieved 2020-02-21.
  9. "九建兩貨尾盤轉賣為租". Apple Daily 蘋果日報 (in Chinese). Archived from the original on 2020-02-21. Retrieved 2020-02-21.
  10. "地產新聞及樓市分析 | 地產站 Property Station". ps.hket.com. Retrieved 2020-02-21.
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