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Hong Kong property
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Hong Kong developer Chinachem names former Link Reit executive as next CEO as Donald Choi sets retirement

  • Andy Cheung has been an independent non-executive director since 2022 and before that was an executive with Link Reit
  • Choi, who will step down on September 1, describes ‘transformation’ of Chinachem during his six-year tenure as ‘the privilege of a lifetime’

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Donald Choi Wun-hing, CEO of Chinachem Group, speaks an event in Admiralty on June 29, 2023. Photo: Xiaomei Chen
Yulu Ao
Hong Kong real estate tycoon Donald Choi Wun-hing will retire and step down as CEO of property developer Chinachem Group after more than six years on September 1, passing his role to Andy Cheung Lee-ming, currently an independent non-executive director, the company said.
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Choi, 66, joined the privately owned developer in 2018, filling a two-year vacancy at CEO after the dismissal of Sunny Yeung. A seasoned architect with more than three decades of experience, Choi led a transformation of the 64-year-old developer’s brand and mission, including a policy to no longer build tiny flats smaller than 200 sq ft.

Cheung has been an independent non-executive director since 2022, the company said. Before that he was an executive director and chief operating officer of Link Reit, one of Asia’s biggest real estate investment trusts.

“Driving the transformation of Chinachem has been the privilege of a lifetime,” Choi said in a statement. “Despite the unprecedented difficulties due to the Covid-19 epidemic and the structural changes of the Hong Kong economy, we have performed well and grown our businesses to create value for our stakeholders and empower a more liveable and sustainable community.”

The company under Choi focused on being more “community-oriented”. It rebranded with a heart-shaped logo and placed emphasis on building community in Hong Kong while balancing business success with sustainability.

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Chinachem owns a total gross floor area of 7.53 million sq ft of office, retail, residential and industrial spaces. It has developed more than 180 property projects and generated HK$38.4 billion (US$4.9 billion) in sales between 2018 and 2022, according to its website.

“I am sure that Chinachem under the leadership of [Cheung] will continue to shine and reach new heights,” Choi said, adding that the search for a successor began soon after he announced his intention to retire in July.

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