Sun Hung Kai Properties Limited (SHKP; ) is a listed corporation and the largest property developer in Hong Kong as of 2019. The company is controlled by the Kwok family trust, largely the Kwok brothers. The Kwok family trust was set up by Kwok Tak-seng, who co-founded the company.
History
Early years
The group was one of many non-British owned companies that overtook the British trading companies or 'hongs' that dominated the financial order in Hong Kong prior to 1997. The predecessor of the group, Sun Hung Kai Enterprises Co., Ltd. (), was founded in 1963 by Kwok Tak-seng, together with Fung King-hey and Lee Shau Kee. The current legal person of the holding company of the group, Sun Hung Kai Properties Limited, was incorporated on 14 July 1972 and was listed on the Hong Kong stock exchanges on 23 August 1972.
In 1973, SHKP acquired Hong Yip Service Company Limited. In 1977, SHKP moved its head office to Connaught Centre, Central (now known as Jardine House).
In 1978, SHKP established Kai Shing Management Services Limited (啟勝管理服務), a property manager.
In 1978, SHKP put on sale the first multi-block residential estate, Tsuen Wan Centre (first phase). Also in 1978, SHKP became one of the 33 constituent stocks listed on the Hang Seng Index.
In 1979, SHKP established Sun Hung Kai Properties Insurance Limited, which was a provider of general insurance.
1980s and 1990s
In 1981, SHKP acquired an interest in Kowloon Motor Bus, a public transport provider. The corporation moved its headquarters to Sun Hung Kai Centre, on an area of newly reclaimed land in Wan Chai, in 1982.
In 1991, SHKP acquired Wilson Parking.
In 1992, SHKP finished the construction of Central Plaza in Wan Chai, the tallest building in Asia at the time of completion. In the same year the company diversified into mobile telephony with the establishment of SmarTone, now one of Hong Kong's dominant mobile providers. This subsidiary was listed in Hong Kong in 1996.
In 1993, SHKP acquired World Trade Centre, Causeway Bay. From the mid-1990s the company undertook property development related to the new airport railway, including sites at the Airport Express Hong Kong Station.
In 1998, Route 3 (Country Park Section) opened.
In 1999, Shanghai Central Plaza commercial building was completed.
21st century
In 2000, SHKP won tender for Kowloon Station Development Packages 5, 6 & 7 – now the International Commerce Centre (ICC) complex. The complex was finished in 2010. The main building became the tallest building in Hong Kong at the time of completion.
On 17 March 2000, SUNeVision Holdings Limited, a subsidiary of SHKP, was listed on the Growth Enterprise Market of the Stock Exchange of Hong Kong.
In 2001, SHKP established the residential leasing division Signature Homes.
In 2002, SHKP set up SHKP – Kwok's Foundation to provide financial support to financially disadvantaged but academically outstanding students, enabling them to pursue university education or to participate in overseas exchange programs.
In 2003, the first phases of YOHO Town in Yuen Long went on sale. The same year, the company signed a land-use transfer agreement with Shanghai Lujiazui Finance and Trade Zone Development Company for Shanghai IFC project.
In 2005, SHKP opened APM, Hong Kong's first late-night retail centre.
In 2005, SHKP acquired Seiyu (Sha Tin) Company Limited.
In 2009, Ma Wan Park Noah's Ark opened, the first Christian theme park in Hong Kong.
In 2013, SHKP acquired a commercial site with 7.6 million square feet of gross floor area in the Shanghai Xujiahui district.
In 2015, SHKP became Title and Charity Sponsor of the first Hong Kong Cyclothon.
In 2016, SHKP donated land in Yuen Long to Hong Kong Sheng Kung Hui for the construction of an integrated service centre.
In 2019, SHKP won the tender for the commercial site atop the West Kowloon high-speed rail terminus. SHKP's bid of more than HK$42 billion won the 60,000 square metre site, which could be used for office, shopping and hotel developments. The Kwoks family invested HK$9.4 billion (US$1.2 billion) for a 25% stake in the office towers.