Kowloon Development Company Limited () (SEHK: 0034) is a property development company based and listed in Hong Kong. It focuses on the property development and investment sector. Kowloon Development is also a stakeholder of Polytec Asset Holdings Limited (SEHK: 0208).
History
In January 1961, the main stakeholder of
Kowloon Motor Bus
The Kowloon Motor Bus Company (1933) Limited (KMB) is a bus company operating franchised services in Hong Kong. It is the largest bus company in Hong Kong by fleet size and number of bus routes. It is a subsidiary of Transport International.
...
, Ng Siu Chan (), as well as
William Sui-tak Louey
William Sui-tak Louey (; 7 July 1909 – 9 December 1962) was a Hong Kong businessman and the founder and Chief Manager of the Kowloon Motor Bus Company.
Early life and career
Louey was born in Melbourne on 7 July 1909 to the son of a Chinese Au ...
() and other businessmen, founded Kowloon Development Company. The company started as a local developer mainly focusing on property development in Hong Kong.
In 1982, the company founded a subsidiary, Golden Princess Amusement Co Ltd, in order to target a market segment in the local filming industry and open up its market and sales to public entertainment.
In 1995, the company was listed on the main board of the
Hong Kong Stock Exchange
The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is rep ...
, with the stock code 0034.
In 2002, the company was acquired by Polytec Macau, a company also owned by Or Wai Sheun. Later in 2005, the company acquired Polytec Asset, which was in heavy debt at that time. From 2010, the company started buying numerous lands through different methods, such as auctions and redevelopment enforced auctions of older buildings.
References
{{Reflist
Land developers of Hong Kong