Hong Kong’s property tycoons finally unlocking value

A new generation of tycoons is unlocking value in Hong Kong’s conglomerates: good news for investors

When his grandfather died last September and then his father went on sick leave earlier this year, 37-year-old Adrian Cheng stepped up as heir apparent to the family business a $25 billion property-to-jewellery empire.

Adrian has worked with other family members to revitalise the group’s flagship companies property firm New World Development NWD and the world’s largest jewellery chain, Chow Tai Fook Jewellery.

Together they have opened shopping malls merged with art galleries, paid out special dividends, snapped up Australia’s Alinta Energy for $3.1 billion, and are opening jewellery shops in global hot spots for Chinese tourists.

Adrian represents a new generation in...

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