The Asia-Pacific region dominates the list of the world’s real estate billionaires. As the region’s property industries have gone from strength to strength, Asia Pacific is now home to 96 of 157 global real estate billionaires. In COUNTRY, the richest person in real estate is XX, who made his/her wealth in XX.
Global real estate network Bproperty takes a closer look at the property portfolios of the region’s top five property billionaires.
Lee Shau Kee, Hong Kong
Net worth: $US24.8 billion
A pioneer of Hong Kong’s real estate industry, Lee Shau Kee is the world’s richest person in real estate. He founded the property firm Henderson Land Development and was an investor in Hong Kong’s landmark office tower and shopping mall development, the International Financial Centre (IFC). He has also invested in various projects in mainland China, including the Henderson Metropolitan, a mall in Shanghai.
Wang Jianlin, China
Net worth: $24.2 billion
As China’s richest man, Wang Jianlin is founder and chairman of the Dalian Wanda Group. The company is considered China’s biggest property developer and is also the world’s largest cinema chain operator, owning AMC Entertainment which runs movie theaters in the US and China. In 2014, the company’s assets totaled 534.1 billion yuan ($US 85.6 billion). As of January this year, its assets included 109 Wanda Plazas across China, 71 five star and luxury five star hotels, and 99 department stores.
Thomas and Raymond Kwok, Hong Kong
Net worth: $15.9 billion
The Kwok brothers inherited Sun Hung Kai Properties, Hong Kong’s largest property developer, in 1990 after their father’s death. With a land bank of 49.5 million square feet, the company is one of Hong Kong’s largest landowners. The group has developed some of the city’s most iconic residential, commercial and industrial properties, including the International Commerce Centre in West Kowloon, International Finance Centre in Central, and Central Plaza in Wan Chai. Raymond is now the sole chairman of the company, with Thomas stepping down in 2014 following a bribery scandal.
Cheng Yu-tung, Hong Kong
Net worth: $14.4 billion
Cheng Yu-tung owns Chow Tai Fook Enterprises, a company with diverse interests including property development, hotels, casinos and jewelry. Through the firm New World Development, Cheng has developed landmark residential projects and key retail and mall sites, including the K11 in Tsim Tsha Tsui, Hong Kong’s first art mall. The group also owns Chow Tai Fook, one of Asia’s leading jewelry retailers.
Joseph Lau, Hong Kong
Net worth: $10.9 billion
Hong Kong-based real estate investor Joseph Lau owns three-quarters of Chinese Estates Holdings. The leading property company is involved in developing, selling and leasing properties in Hong Kong, Macau and mainland China. Its property development portfolio includes residential developments such as 55 Conduit Road and the No.12 Shiu Fai Terrace redevelopment in Hong Kong, and commercial projects such as Chinese Estates Plaza in Chengdu, China.