Latest news with #ChinachemGroup
South China Morning Post
3 days ago
- Business
- South China Morning Post
Donald Choi takes helm of Hong Kong's cash-strapped URA amid mounting challenges
A veteran property specialist with experience in leading major Hong Kong real estate groups has been appointed to steer the cash-strapped Urban Renewal Authority (URA). The government on Thursday announced the appointment of Donald Choi Wun-hing, the former CEO of Chinachem Group, as the authority's managing director from June 15, for three years, when the incumbent chief Wai Chi-sing is set to retire after his nine-year leadership. '[Choi] has a deep understanding of the local land and housing planning, the property market, conservation of historic buildings, green buildings and innovative construction techniques, among others, and is committed to creating quality and vibrant urban living in Hong Kong,' the Secretary for Development Bernadette Linn Hon-ho said. 'I am confident that Mr Choi will lead the URA management in furthering the important task of urban renewal, as well as effectively handling the challenges of building decay while maintaining the financial sustainability of the URA.' Choi, an architect by profession, was the CEO of Chinachem Group from 2018 to August 2024 before his retirement. He was also previously the managing director of Nan Fung Development and a director of the well-known architectural firm Foster and Partners. Choi has also served the industries as a former president of both the Hong Kong Institute of Architects and of the Hong Kong Institute of Urban Design. Since the 2022-23 financial year, the self-financing statutory body has been struggling with its deficit, which stood at HK$3.9 billion (US$497.5 million) in the 2023-24 financial year.
Yahoo
17-05-2025
- Business
- Yahoo
Hysan and Chinachem to develop mixed-use commercial project in Causeway Bay
Hysan Development Company and Chinachem Group (CCG) have joined hands to deliver Lee Garden Eight, a mixed-use commercial development in Causeway Bay, Hong Kong. The project is due for completion in the second quarter (Q2) of 2026. Lee Garden Eight, designed by UK-based architecture and design studio Foster + Partners, is set to be a community hub that offers more than 100,000ft² of retail space along with a focus on green, indoor-outdoor spaces. The development comprises 25 storeys in Towers 1 and 2 and 16 storeys in Tower 3, excluding five shared basement levels across all three towers, which house approximately 610 parking spaces equipped with electric vehicle charging facilities. The project will include 60,000ft² of green open space, which connects to the existing Lee Gardens area. The design promotes tree-lined streetscapes, an open market, and a cultural performance area. The development is also set to feature the largest commercial floor plate on Hong Kong Island. The design's green spine, with balconies at every level, is stated to ensure that the building's occupants are placed in a natural environment. The design is claimed to prioritise spatial flexibility, with floor plates reaching up to 39,000ft², allowing for entire organisations to occupy single floors. Lee Garden Eight incorporates a range of sustainable features, including 3.25m-high ceilings and 2.15m-wide electric operable windows to support natural ventilation. More than 50% of the space will receive at least four hours of natural light daily, stated Hysan. These measures are claimed to be part of a broader strategy aimed at reducing carbon emissions throughout the building's life cycle while also enhancing biophilic connections for occupants and promoting biodiversity in the surrounding landscape. Hysan executive director and COO Ricky Lui said: "Lee Garden Eight is the result of a close partnership between our team and Foster + Partners. From the very beginning, there has been a strong alignment in vision - both teams are committed to creating a place that is not only commercially successful but also meaningful to the city's fabric." Chinachem Group executive director and CFO Ricky Tsang said: "As a landmark commercial development in the vibrant heart of Causeway Bay, adhering to the highest green building standards, Lee Garden Eight underscores CCG's dedication to shaping a greener, more liveable Hong Kong for our future generations." "Hysan and Chinachem to develop mixed-use commercial project in Causeway Bay" was originally created and published by World Construction Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Zawya
24-04-2025
- Business
- Zawya
Chinachem Group Pioneers Asia's First Triple-Themed Syndicated Loan
Accelerating Green Buildings & Socially Inclusive Urban Development HONG KONG SAR - Media OutReach Newswire - 24 April 2025 - Chinachem Group ("CCG") announced today the successful closure of an HK$8 billion syndicated loan facility ("the Facility"), marking its debut syndicated loan and establishing a new benchmark for sustainable finance in Asia. As the region's first syndicated loan to combine green, social and sustainability-linked components, the Facility garnered exceptional market reception, with final commitments from 12 leading international, regional and local banks, oversubscribed by over 2.5 times the initial target. The overwhelming responses reflect CCG's exceptional financial position and strong corporate governance, which secure unwavering support and confidence from our banking partners despite the prevailing cautious market environments and geopolitical tension. With the new financing secured, CCG's financial and liquidity position is further bolstered, enabling it to continue investing, driving growth, and delivering sustainable long-term value. Adding to the enhanced financial strength, the innovative financing structure of the Facility also reinforces CCG's position at the forefront of responsible development while creating a replicable model for aligning financial instruments with sustainable urban transformation. Peter Brien, Chairman and Independent Non-Executive Director of Chinachem Group Holdings Limited, says, "This triple-themed Facility exemplifies our vision of building sustainable legacies – where environmental stewardship, social responsibility and financial performance converge. It directly accelerates our CCG 3050+ carbon reduction roadmap, which commits by 2030 to reduce carbon intensity by at least 51.8% from our 2020 baseline. By aligning financing with measurable sustainability outcomes, we're institutionalising responsible development at every level of our business." Andy Cheung, Executive Director and Chief Executive Officer of Chinachem Group, says, "The overwhelming support from our banking partners demonstrates our shared commitment to future-proofing Hong Kong's development. The Facility provides both the capital and accountability framework we need to deliver lasting value – for our stakeholders, our communities and our urban environment." The Facility operates under CCG's enhanced Sustainable Finance Framework, fully aligned with the "Hong Kong Taxonomy for Sustainable Finance" published by the Hong Kong Monetary Authority. The Facility is backed by: Mandated Lead Arrangers and Bookrunners 1. Bank of China (Hong Kong) Limited 2. DBS Bank Hong Kong 3. Hang Seng Bank Limited 4. The Hongkong and Shanghai Banking Corporation Limited Mandated Lead Arrangers 5. Fubon Financial Holding Co., Ltd. 6. Bank of Communications (Hong Kong) Limited 7. Industrial Bank Co., Ltd., Hong Kong Branch Lead Arranger 8. OCBC Bank (Hong Kong) Limited Arrangers 9. Bank of East Asia 10. China Everbright Bank Co., Ltd., Hong Kong Branch 11. Chiyu Banking Corporation Limited 12. Nanyang Commercial Bank, Limited Facility Agent Hang Seng Bank Limited Sole ESG Coordinator The Hongkong and Shanghai Banking Corporation Limited Hashtag: #ChinachemGroup The issuer is solely responsible for the content of this announcement. About Chinachem Group Founded in 1960, Chinachem Group ("CCG") is a leading private real estate company in Hong Kong. CCG manages a diverse portfolio of investment and development properties with a footprint of over 9 million square feet. Leveraging its extensive expertise in real estate development, CCG delivers high-quality residential spaces and maintains a robust pipeline of commercial projects, while its property services business creates value by managing assets for sustainable, long-term growth. CCG is also a hotel owner and operator, managing and operating properties under the Nina Hotels and Lodgewood by Nina Hospitality brands. The acquisition of Pine Care Group marks CCG's expansion into elderly care services, underscoring its commitment to delivering pristine care for the elderly. With a workforce of over 4,000 employees, CCG is dedicated to making better places to live, work and raise future generations in Hong Kong and beyond. Please visit Chinachem Group
Malay Mail
24-04-2025
- Business
- Malay Mail
Chinachem Group Pioneers Asia's First Triple-Themed Syndicated Loan
Accelerating Green Buildings & Socially Inclusive Urban Development Chinachem Group seals a key financial partnership with Bank of China (Hong Kong) Limited, DBS Bank Hong Kong, Hang Seng Bank Limited, and The Hongkong and Shanghai Banking Corporation Limited at the Signing Ceremony of the HK$8,000,000,000 Green, Social and Sustainability-Linked Syndicated Loan in Hong Kong on 24 April 2025. Mandated Lead Arrangers and Bookrunners Mandated Lead Arrangers Lead Arranger Arrangers Facility Agent Sole ESG Coordinator HONG KONG SAR - Media OutReach Newswire - 24 April 2025 - Chinachem Group ("CCG") announced today the successful closure of an HK$8 billion syndicated loan facility ("the Facility"), marking its debut syndicated loan and establishing a new benchmark for sustainable finance in Asia. As the region's first syndicated loan to combine green, social and sustainability-linked components, the Facility garnered exceptional market reception, with final commitments from 12 leading international, regional and local banks, oversubscribed by over 2.5 times the initial overwhelming responses reflect CCG's exceptional financial position and strong corporate governance, which secure unwavering support and confidence from our banking partners despite the prevailing cautious market environments and geopolitical tension. With the new financing secured, CCG's financial and liquidity position is further bolstered, enabling it to continue investing, driving growth, and delivering sustainable long-term to the enhanced financial strength, the innovative financing structure of the Facility also reinforces CCG's position at the forefront of responsible development while creating a replicable model for aligning financial instruments with sustainable urban Brien, Chairman and Independent Non-Executive Director of Chinachem Group Holdings Limited, says, "This triple-themed Facility exemplifies our vision of building sustainable legacies – where environmental stewardship, social responsibility and financial performance converge. It directly accelerates our CCG 3050+ carbon reduction roadmap, which commits by 2030 to reduce carbon intensity by at least 51.8% from our 2020 baseline. By aligning financing with measurable sustainability outcomes, we're institutionalising responsible development at every level of our business."Andy Cheung, Executive Director and Chief Executive Officer of Chinachem Group, says, "The overwhelming support from our banking partners demonstrates our shared commitment to future-proofing Hong Kong's development. The Facility provides both the capital and accountability framework we need to deliver lasting value – for our stakeholders, our communities and our urban environment."The Facility operates under CCG's enhanced Sustainable Finance Framework, fully aligned with the "Hong Kong Taxonomy for Sustainable Finance" published by the Hong Kong Monetary Facility is backed by:1. Bank of China (Hong Kong) Limited2. DBS Bank Hong Kong3. Hang Seng Bank Limited4. The Hongkong and Shanghai Banking Corporation Limited5. Fubon Financial Holding Co., Ltd.6. Bank of Communications (Hong Kong) Limited7. Industrial Bank Co., Ltd., Hong Kong Branch8. OCBC Bank (Hong Kong) Limited9. Bank of East Asia10. China Everbright Bank Co., Ltd., Hong Kong Branch11. Chiyu Banking Corporation Limited12. Nanyang Commercial Bank, LimitedHang Seng Bank LimitedThe Hongkong and Shanghai Banking Corporation LimitedHashtag: #ChinachemGroup The issuer is solely responsible for the content of this announcement. About Chinachem Group Founded in 1960, Chinachem Group ("CCG") is a leading private real estate company in Hong Kong. CCG manages a diverse portfolio of investment and development properties with a footprint of over 9 million square feet. Leveraging its extensive expertise in real estate development, CCG delivers high-quality residential spaces and maintains a robust pipeline of commercial projects, while its property services business creates value by managing assets for sustainable, long-term growth. CCG is also a hotel owner and operator, managing and operating properties under the Nina Hotels and Lodgewood by Nina Hospitality brands. The acquisition of Pine Care Group marks CCG's expansion into elderly care services, underscoring its commitment to delivering pristine care for the elderly. With a workforce of over 4,000 employees, CCG is dedicated to making better places to live, work and raise future generations in Hong Kong and beyond. Please visit
The Sun
24-04-2025
- Business
- The Sun
Chinachem Group Pioneers Asia's First Triple-Themed Syndicated Loan
HONG KONG SAR - Media OutReach Newswire - 24 April 2025 - Chinachem Group ('CCG') announced today the successful closure of an HK$8 billion syndicated loan facility ('the Facility'), marking its debut syndicated loan and establishing a new benchmark for sustainable finance in Asia. As the region's first syndicated loan to combine green, social and sustainability-linked components, the Facility garnered exceptional market reception, with final commitments from 12 leading international, regional and local banks, oversubscribed by over 2.5 times the initial target. The overwhelming responses reflect CCG's exceptional financial position and strong corporate governance, which secure unwavering support and confidence from our banking partners despite the prevailing cautious market environments and geopolitical tension. With the new financing secured, CCG's financial and liquidity position is further bolstered, enabling it to continue investing, driving growth, and delivering sustainable long-term value. Adding to the enhanced financial strength, the innovative financing structure of the Facility also reinforces CCG's position at the forefront of responsible development while creating a replicable model for aligning financial instruments with sustainable urban transformation. Peter Brien, Chairman and Independent Non-Executive Director of Chinachem Group Holdings Limited, says, 'This triple-themed Facility exemplifies our vision of building sustainable legacies – where environmental stewardship, social responsibility and financial performance converge. It directly accelerates our CCG 3050+ carbon reduction roadmap, which commits by 2030 to reduce carbon intensity by at least 51.8% from our 2020 baseline. By aligning financing with measurable sustainability outcomes, we're institutionalising responsible development at every level of our business.' Andy Cheung, Executive Director and Chief Executive Officer of Chinachem Group, says, 'The overwhelming support from our banking partners demonstrates our shared commitment to future-proofing Hong Kong's development. The Facility provides both the capital and accountability framework we need to deliver lasting value – for our stakeholders, our communities and our urban environment.' The Facility operates under CCG's enhanced Sustainable Finance Framework, fully aligned with the 'Hong Kong Taxonomy for Sustainable Finance' published by the Hong Kong Monetary Authority. The Facility is backed by: Mandated Lead Arrangers and Bookrunners 1. Bank of China (Hong Kong) Limited 2. DBS Bank Hong Kong 3. Hang Seng Bank Limited 4. The Hongkong and Shanghai Banking Corporation Limited Mandated Lead Arrangers 5. Fubon Financial Holding Co., Ltd. 6. Bank of Communications (Hong Kong) Limited 7. Industrial Bank Co., Ltd., Hong Kong Branch Lead Arranger 8. OCBC Bank (Hong Kong) Limited Arrangers 9. Bank of East Asia 10. China Everbright Bank Co., Ltd., Hong Kong Branch 11. Chiyu Banking Corporation Limited 12. Nanyang Commercial Bank, Limited Facility Agent Hang Seng Bank Limited Sole ESG Coordinator
