BRIEF: Hong Kong property tycoon Lee Shau Kee dies at 97

Lee Shau Kee, founder of Henderson Land Development Co. Ltd. (0012.HK), died on Monday at the age of 97. Lee moved from his hometown of Shunde in South China’s Guangdong province to Hong Kong in his youth, co-founding Sun Hung Kai Properties with Kwok Tak Seng and Fung King Hey in the 1960s. After the trio parted ways in the 1970s, Lee established Henderson Land, which went public in 1981.

Lee later acquired Hong Kong and China Gas (0003.HK) and Hong Kong Ferry (0050.HK). His 1993 purchase of Miramar Group (0071.HK) briefly made him the world’s wealthiest ethnic Chinese. In early 2000, he launched his Shau Kee Finance private investment vehicle, focusing on Chinese stocks. At its peak, Shau Kee Finance’s assets surpassed HK$200 billion ($25.7 billion), earning Lee the moniker of “Asia’s Stock King.”

Lee mastered the art of acquiring aging Hong Kong buildings for redevelopment, scaling up through projects like City One Shatin in the 1980s. His portfolio expanded to include major residential complexes such as Sai Kung’s Marina Cove, Ma On Shan’s Sunshine City, Tseung Kwan O’s Metro Town and Tai Po’s Beverly Hills.

After the turn of the millennium, Lee aggressively developed Grade-A office towers in Hong Kong, including Central’s International Finance Centre (IFC) and Admiralty’s The Henderson. His HK$50.8 billion acquisition of the highly coveted Tamar Site in Hong Kong’s Central business district cemented his commercial empire in the city’s financial heartland.

By Lau Chi Hang

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