Lui Che-woo, chairman of KWah Group, has been named this year's Business Person of the Year in the DHL/SCMP Hong Kong Business Awards held at the Grand Hyatt.
His latest triumph is the culmination of a series of important business deals - spearheaded by Dr Lui - which has earned the group significant profits this year compared to previous years.
For the first six months of the year, ending June30, the company's gross profits soared to HK$471.78million compared to HK$93.82million last year.
The group's property developing arm, KWah International Holdings, made headlines in October after it teamed up with property developers Sino Land and Nan Fung Development to outbid several leading rivals for the 68,922 sqft building site in Aberdeen at a record breaking price of HK$5.71billion for Hong Kong Island, except Island South and The PeaK The site is slated for the development of luxury residential flats, managed solely by KWah, and covering project management, finance and architectural designs.
KWah is keen to form partnerships to outbid larger competitors. 'As a medium-sized property developer in Hong Kong, we look for property sites that are valued somewhere between HK$4billion and HK$5billion,' Dr Lui said.
'I think KWah is quite fortunate to have come this far, even though the company is not as large as some other property developers. I believe we have a strong foundation in the property market and the experience to continue to build on the fundamentals in the long term.'
