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’
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.
“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.
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.
