Kowloon Development Company Limited (“KDC”) (Stock Code: 34), a member of the Polytec group, was established on 24 January 1961 and was listed on the main board of The Stock Exchange of Hong Kong Limited on 4 July 1995. Since its establishment, KDC has been engaged in property investment and investment holding with the operation of its business mainly in Hong Kong.
KDC has substantially broadened the areas of its business activity since the Polytec group gained the control of it in 2002. The Group is principally engaged in property development, property investment and property management in Hong Kong and Mainland China. It is determinedly committed to enhancing its competitive position, with its landbank amounting to approximately 3.2 million sq m of attributable gross floor area in Hong Kong and Mainland China as at 30 June 2024. The Group is also engaged in financial investments and investment holding.
The main focus of the Group has been residential development in Hong Kong and Mainland China. In Hong Kong, the Group continues to focus on the sale of the remaining units of Manor Hill in Tseung Kwan O. The foundation and geotechnical works for another wholly-owned project on Clear Water Bay Road are in full progress. For the Group’s 60%-owned residential and commercial development project located on High Street, the superstructure works are well underway. In Mainland China, the Group currently has development projects in Shenyang, Tianjin, Wuxi, Shanghai, Foshan, Huizhou, Shanxi and Zhuhai which are in various stages of planning and construction. In addition to the residential trading portfolio, the development project on Clear Water Bay Road contains significant retail development which is intended to be retained for long term investment purposes in order to grow the Group’s portfolio of recurrent income producing properties to complement the present principal investment asset of the Pioneer Centre in Mongkok, Hong Kong.
Besides expanding the existing landbank in an opportunistic manner and building out the present portfolio, the Group is focusing on building a strong brand as a thoughtful developer producing quality products. The Board and management wish to see a united team working together with passion and a drive for excellence in the products and services which the Group produces.
By realising the inherent value of the landbank under the corporate culture of KDC, the Board believes this will enable a great enterprise to be built and to last.
