Wong—who joined the company

               Wong—who joined the company in 1985 after graduating from Hong Kong Polytechnic University as a surveyor and rose through the ranks to become the CEO six years ago—has earned a reputation for seizing opportunities and staying the course amid a crisis. At the turn of the millennium, between the Asian financial crisis and the 2003 SARS outbreak, he started rebuilding from scratch Hongkong Land’s residential property business, which it had divested in the 1980s.

His first project, a redevelopment of an aging Hong Kong apartment complex called Lai Sing Court, had a bumpy start. After Wong spent more than two-and-a-half years persuading at least 90% of homeowners to agree to a collective sale and overcame objections from authorities to relax its height restriction, SARS crashed Hong Kong’s property market. Charles Ng, one of Lai Sing Court’s homeowners, recalls Wong still honored his commitments—even though he could have tried to renegotiate—and pressed ahead with the redevelopment despite an economic slump at the time making the project uneconomical. Hongkong Land eventually earned a profit of about $300 million from the complex, which was renamed Serenade.

Wong is once again confident that Hongkong Land’s investments in mainland China and measures to enhance the appeal of its Hong Kong portfolio amid the current market uncertainty will reap dividends. The company’s earnings and stock performance reflect his optimism. In the first half of 2022, revenue edged up 0.9% from a year earlier to $894 million despite a 69% drop in contracted sales on the mainland to $419 million, and it swung to a net profit of $292 million from a $865 million net loss in the year-ago period, Hongkong Land said in its latest earnings report.

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