Major developer buys more than 200 lots at Lai Chi Chong in Sai Kung Country Park

lai chi chong
Lai Chi Chong old village    Photo: Google

From 2010, chairman and substantial shareholder Wong Chun Hong  of Top Spring International (3688), a property and development company, invested at least $44 million in buying more than 200 lots of land at Lai Chi Chong in Sai Kung Country Park.
According to Ming Pao newspaper, who investigated at the Land Registry, most of the above-mentioned land titles or partial titles of the land in Lai Chi Chong Village were resold to a private company Green Home Development Co., Ltd. from 2010 to 2015. The company was registered in 2010 and founded by Top Spring company chairman and concurrent chief executive officer Wong Chun Hong holding 99% equity, and another shareholder Wong Yi Ning holding 1% equity, this giving Wong control. At present, Wong Chun Hong has at least 247 sites in the area.
lai chi capture
Map: Google Maps

Lai Chi Chong is small village at the western end of the country park and located on the southeastern shore of Tolo Channel. It is reached by boat from a small pier. Caritas Jockey Club Siu Tong  have a small camp site nearby. The village can also be reached by footpath from Hoi Ha Road, passing through the beautiful Hakka village of Pak Sha O, and the village of Nam Shan Tung.

lai chi chong pier
View from Lai Chi Chong Pier                    Photo: Google

In recent years, Top Spring has actively bought properties in Hong Kong. Since 2005, the company has bought Yuen Long and Sheung Shui agricultural land, and in March 2018 they spent $480 million to purchase 60% equity in a low-density residential project at  Waterloo Road in Kowloon Tong from Asia United Infrastructure (711).
wong chi cong
Top Spring Chairman and Major Shareholder Wong Chun Hong

According to Reuters, Wong Chun Hong is Executive Chairman of the Board, Chief Executive Officer of Top Spring International Holdings Ltd. Wong is the Founder of the Group. He is also a director of various subsidiaries within the Group. In addition, he is also the second largest shareholder and vice chairman of the board of directors of Rainbow Department Store Co., Ltd. (“Rainbow”), a company listed on the Shenzhen Stock Exchange. He has over two decades of experience in the real estate business in the PRC and Hong Kong. From 1993 to 1996, Wong was the deputy managing director and the second largest shareholder of Top Glory International Holdings Limited (“TGI”) (formerly known as World Trade Center Group Limited), a company which was listed on the Stock Exchange and is now privatised and was the vice chairman of China Foods Limited (formerly known as China Foods Holdings Limited), a company listed on the Stock Exchange (“China Foods”). From 1996 to 2001, Wong was a major shareholder, chairman and chief executive officer of ITC Properties Group Limited (formerly known as Cheung Tai Hong Holdings Limited), a company listed on the Stock Exchange (“ITC”).
Wong was awarded 2010 (2010 Person of the Year) by China Real Estate Information Corporation (Sina House), 2011 the Most Influencial Person in China and 2012 the Most Influential Person in real estate sector in China in the 11th and 12th Boao Real Estate Forum respectively and 2011 CEIBS Alumni Award Programme by China Europe International Business School. Wong also attended the Global CEO Programme for China in 2007 which was co-organised by IESE Business School and Harvard Business School. He is a member of Guangzhou Chinese People’s Political Consultative Conference and the chairman of Hong Kong Federation of Guangzhou Associates Limited.

Facebook Comments

1 Comment