Developer and heir to Hong Kong’s largest fortune on how to cool property prices

Victor Li Tzar-Kuoi made the comments during his first public appearance

Jun.June 03, 2018 04:01 PM

(Credit from left: Pixabay, Cheung Kong Infrastructure Holdings Limited)

UPDATED Jan. 12, 2019, 6:17 p.m.: The new chairman of one of Hong Kong’s biggest developers has some big ideas.

Victor Li Tzar-Kuoi, in his first public appearance since assuming his father’s role as chairman of CK Hutchison Holdings and CK Asset Holdings, weighed in on how Hong Kong’s property prices could be dampened, saying that the city needs to keep building, according to the South China Morning Post.

“Supplies are currently still at a low level,” he said in his statements late last week, so “the property market will remain bullish.” Hong Kong’s government data reports that this is the 25th month that prices in the metropolis have risen, despite the government’s interventions.

Li steps into the public spotlight after his father, property tycoon Li Ka-shing, who is nicknamed “Superman” and is Hong Kong’s richest man, announced his retirement in March. [SCMP]Erin Hudson

CORRECTION: This story was updated to reflect the correct month Li Ka-shing retired.

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