Overview
Henderson Land Development is a Hong Kong-listed property group founded in 1976. It focuses on Hong Kong and Chinese Mainland, with property development and property investment as its core businesses. The group also holds interests in listed businesses spanning hotels, utilities and energy, transportation and real estate investment.[1][2]
The company describes sustainability, green building and community initiatives as long-term priorities. Its 2030 Sustainability Vision is organised around the environment, innovation, people and community.[3][4] Revenue from the company and its subsidiaries was HK$25.7 billion in 2025.[5] [1][2][3][4][5]
Products & services
Henderson Land develops residential properties for sale, including mixed-use projects with ground-floor retail space. Belgravia Place, for example, is a two-phase residential-and-commercial development: Phase 1 comprises approximately 240,000 square feet of residential gross floor area and 54,000 square feet of retail space, while Phase 2 comprises approximately 110,000 and 14,000 square feet, respectively.[6]
The company also leases office and retail properties. The Henderson is a 465,000-square-foot Grade-A commercial building offering smart-office features; its other property services include construction, project management and property management.[7][8] Additional offerings include hotel rooms, serviced apartments, department stores and supermarket-cum-stores. Through its substantial holding in The Hong Kong and China Gas Company, Henderson Land also has exposure to gas production and distribution in Hong Kong and mainland China.[9][10][11]
In 2024, property development accounted for approximately 29% of combined revenue, property leasing 13%, and utility and energy 48%. These proportions use combined revenue, which includes the company’s share of associates and joint ventures; they are not a breakdown of revenue from products sold solely by Henderson Land.[10] [6][7][8][9][10][10][11][10][10][10][10]
Geographic presence
Henderson Land Development’s principal property markets are Hong Kong and the Chinese Mainland. Its Hong Kong development landbank includes substantial holdings in the New Territories, while its Mainland activities include development and commercial investment properties across multiple cities, including Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu and Xi’an.[1][12][13][14]
In 2025, combined property-development revenue, including the share of associates and joint ventures, was HK$15,523 million in Hong Kong and HK$3,426 million in the Chinese Mainland. Combined property-leasing revenue was HK$7,289 million and HK$1,848 million, respectively. Across these two property segments, Hong Kong accounted for approximately 81% of combined revenue and the Chinese Mainland for 19%; this is not a geographic breakdown of total group revenue.[15]
The company’s registered office and principal place of business are in Central, Hong Kong.[16] [1][12][13][14][15][15][15][15][16]
Business segments
Henderson Land reports six business segments: property development (developing and selling properties); property leasing; department stores and supermarket-cum-stores operations; hotel room operation; other businesses; and utility and energy. Other businesses includes construction, finance, property and project management, hotel management outside room operations, and related services. Utility and energy covers gas supply and related services, water and waste treatment, renewable energy and advanced fuels. Property development and leasing are also reported separately for Hong Kong and the Chinese Mainland.[17][18][15]
On a 2025 *combined revenue* basis, utility and energy contributed approximately 51% of the HK$68.2 billion total, property development 28%, property leasing 13%, other businesses 4%, department stores and supermarket-cum-stores 2%, and hotel room operation 1%. Combined revenue includes Henderson Land’s share of associates’ and joint ventures’ revenue: the utility and energy amount is entirely attributable to those interests, rather than revenue consolidated from subsidiaries. Within property development, Hong Kong accounted for about 82% of combined segment revenue; within property leasing, it accounted for about 80%.[15] [17][18][15][15][15][15][15][15][15][15][15][15][15][19]
Company history
Henderson Land Development was founded in 1976 by Lee Shau Kee and listed in Hong Kong in 1981. Lee served as its chairman and managing director from its founding.[20][21][22]
Lee Ka Kit joined the company in 1985 and took primary responsibility for developing its business in mainland China. In May 2019, Lee Shau Kee retired as chairman and managing director, and Lee Ka Kit and Lee Ka Shing were appointed joint chairmen and managing directors.[23][22][24] [20][21][22][23][24]
Sources
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