Lee Shau Kee, the esteemed founder of Henderson Land Development Company, passed away on March 17, 2025, at the age of 97. The announcement came from the company’s official website, indicating he died peacefully at home surrounded by family. The family will later announce the details of the funeral arrangements.
Hong Kong’s Chief Executive, John Lee, expressed deep condolences, recognizing Lee Shau Kee as not only a remarkable business leader but also as someone who greatly contributed to the economic development and stability of Hong Kong. "Lee Shau Kee was a distinguished entrepreneur and philanthropist, known for his generous donations to educational institutions and his passionate support for the advancement of higher education," said Lee.
Born on February 20, 1928, in Daliang, Shunde, Guangdong, Lee Shau Kee moved to Hong Kong at the age of 20. He initially ventured to the territory alone, starting his business career by trading foreign exchange and gold. By 1958, he co-founded Yau Yue Company which innovatively introduced the "installment sales" model to the real estate market—a game-changer for ordinary Hong Kong residents aspiring to buy property.
Lee’s entrepreneurship surged when he formed Sun Hung Kai Properties with partners Kwok Tak Seng and Fung King Hey in 1963. The trio, known as the “Four Great Families of Hong Kong,” would revolutionize the real estate industry. After parting ways with his partners, Lee Shau Kee went on to establish Henderson Land Development Co., Ltd. in 1976, which has since become one of Hong Kong's top developers.
Throughout his tenure with Henderson Land, Lee pushed significant projects and spearheaded the company's public listing on the Hong Kong Exchange in 1988, accelerating its growth. He expanded the company’s reach to mainland China by initiating key developments such as the landmark Central Plaza project, executed with Li Ka-shing.
Remarkably, his leadership made him widely regarded as the "Asian Warren Buffett" and he was repeatedly recognized on the Forbes list as Asia's richest person from 1995 to 1997. His entrepreneurial efforts were acknowledged with several awards, including the prestigious Grand Bauhinia Medal from the Hong Kong government and the Asian Businessman Achievement Award.
Lee's impact transcended the world of real estate; he was deeply involved in the community and supported numerous charitable initiatives, particularly focused on education. He established the Lee Shau Kee Foundation, which has funded scholarships and educational programs across Hong Kong and the mainland, with contributions totaling billions over the decades.
Despite stepping back from the daily operations of his empire, Lee maintained influence until his retirement at 91, stepping down with plans to hand over the reins to his sons, Lee Ka-Ching and Lee Ka-Jet. His legacy is reflected not only through Henderson Land’s status as Hong Kong's largest developer but also through his philanthropic endeavors.
Over the years, Lee has also held numerous positions across various organizations, including chairman roles at Hong Kong and China Gas Company and Miramar Hotel Enterprise. His contributions to the businesses he was involved with and the broader Hong Kong community have been immeasurable.
Lee's passing marks the end of an era, leaving behind two sons, three daughters, and eleven grandchildren. He is remembered not just as a titan of industry, but as someone deeply committed to public welfare and the educational sector, standing as one of Hong Kong's luminary figures.
Even beyond his business acumen, Lee Shau Kee's public persona was often marked with involvement in Hong Kong's political dialogue, where he expressed views aligned with Hong Kong’s business elites. His comments during moments of civic unrest drew significant attention and criticism, particularly during the 2014 Umbrella Movement and the more recent anti-government protests.
His achievements are celebrated by many across the territory, underscoring the indelible mark he has left on Hong Kong's cultural and economic fabric. Lee Shau Kee will be remembered not only as the founder of Henderson Land but as one of the pioneers who helped shape modern Hong Kong.
