Henderson Land Development Company Ltd. | Introduction
Introduction
6/F World-Wide House, 19 Des Voe
Hong Kong
Hong Kong
Telephone: +852 2908 8888
Fax: +852 2908 8838
Web site: http://www/hld.com
Public Company
Incorporated: 1976
Employees: 4,900
Sales: HKD 6.72 billion ($860 million) (2003)
Stock Exchanges: Hong Kong
Ticker Symbol: HLDC
NAIC: 531210 Offices of Real Estate Agents and Brokers; 551112 Offices of Other Holding Companies; 236116 New Multi-Family Housing Construction (Except Operative Builders); 237210 Land Subdivision; 523999 Miscellaneous Financial Investment Activities; 531120 Lessors of Nonresidential Buildings (Except Miniwarehouses); 541512 Computer Systems Design Services; 721110 Hotels (Except Casino Hotels) and Motels
Henderson Land Development Company Ltd. is one of Hong Kong's leading real estate development companies. Henderson's primary operations include property development, property investment, and management of the group's land bank—including a portfolio of some 21 million square feet of total attributable floor area, encompassing the company's developments, hotels, investments, and subsidiary properties. In addition, Henderson controls 23 million square feet of agricultural land, a majority of which is slated for conversion toward property development in the early part of the century. Henderson is committed to maintaining a large land bank, and replenishes its holdings as it completes developments. Less than 25 percent of the group's properties is located in the city of Hong Kong. Instead the group has focused the majority of its portfolio on the Kowloon market, which accounts for 36 percent of Henderson's land bank, and especially the fast-growing New Territories, representing 41 percent of the group's portfolio. Through publicly listed subsidiary Henderson China Holdings, Henderson has ventured onto the Chinese mainland as well. While Henderson Land remains a pure-play development group, it controls 75 percent of Henderson Investment Limited, also a publicly listed company. Henderson Investment was developed as the holding company for Henderson's diversified investments, which include the development and management of two hotels in Kowloon, the five-store chain of Citistore department stores, control of the Hong Kong Ferry, Miramar, and The Hong Kong and China Gas Company Limited. Henderson itself, listed on the Hong Kong Stock Exchange, remains controlled at more than 65 percent by founder Lee Shau Kee, who generally features near the top of the world's wealthiest people. Lee has surrounded himself with family members, including his two sons, at Henderson, many of whom occupy top-level management positions with the company. Day-to-day operations are carried out under the direction of deputy chairman and Lee protegé Colin Lam.