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Pearl Liu

Victor Li Tzar-kuoi, the new chairman of CK Hutchison Holdings and CK Asset Holdings, who recently took over from his father and Hong Kong’s richest man Li Ka-shing, on Thursday urged the government to boost house and land supplies as a long-term strategy even as property prices continued to rise for the 25th straight month in the city.
CK Asset Holdings is one of the largest listed developers in Hong Kong.
“Houses are for living besides investment,” said Li at the opening of A S Watson Group’s new retail concept store CKC18, his first public appearance as chairman since taking over the reins.
Victor Li finally emerges from the shadow of his Superman father Li Ka-shing
Li said that although there is no crystal ball to predict the trend of Hong Kong’s property prices because house “supplies are currently still at a low level, the property market will remain bullish.”
Li’s statement came after the government’s data on Thursday showed that Hong Kong’s home prices have risen for 25 straight months, the longest stretch for a property bull market in a quarter century, making the city the world’s costliest urban centre to live and work in.




An index of secondary market home prices climbed 1.84 per cent to 375.9 in April, according to data released by the Rating and Valuation Department.
Li said that the opening of CKC18, which is at Cheung Kong Center, the headquarters of the group, has been warmly welcomed by office goers for offering convenient dining and shopping options.
The store, spread over 26,000 square feet, consists of four sections – food, alcohol, beauty care and tech products.
The innovative retail store, supporting electronic payments and unmanned checkout counters, is another move by A S Watson, the retail unit of Li’s flagship conglomerate CK Hutchison, to embrace new technologies in the face of fierce competition from online stores.
For example, customers can checkout by placing their shopping baskets on checkout counters that automatically scan and tally up the total. Customers can also use an augmented reality-enabled app to try different make-up services.


“We will test the response [of CKC18] and will open more [such stores] if customers like this feature,”said Dominic Lai, group managing director of A S Watson Group. “To make stores stand out, we have accelerated digital transformation and have introduced the latest retail technologies to provide the best shopping experience.”
Currently more than 180 Watsons stores and 60 ParknShop, the group’s supermarket chain, have self-check out counters.
Retail giant A.S.Watson promises to stick with stores, and spend US$160m on tech and logistics to keep pace with changing mobile world
“We hope to implement self-check out counters in all our stores as soon as possible,” said Lai.
With over 14,000 stores in 24 markets, mainly in Asia and Europe, Watsons says it records four billion store visits a year, selling 30 million items per day worldwide. It plans to open 1,300 new stores around the world this year or one every seven hours.
In addition to health and beauty shops, A S Watson operates supermarkets, food and wine, and electronics retail chains.


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Victor Li ‘intends’ to set up family office as Hong Kong draws US$1.3 bn from investors

Li Ka-shing’s ParknShop imports more goods from mainland China as Hongkongers flock to Shenzhen for cheaper goods

Victor Li

Victor Li urges government to boost land, flat supplies as property prices show no signs of slowing down

Victor Li Tzar-kuoi, chairman of CK Hutchison Holdings, attends the launch of A S Watson Group’s new concept store, CKC18, at Cheung Kong Center, the group’s headquarters in Central. Photo: Edmond So

Victor Li finally emerges from the shadow of his Superman father Li Ka-shing

Victor Li, son of Hong Kong’s richest man Li Ka-shing, speaks during a press conference in Hong Kong on Friday. Li Ka-shing announced he was stepping down as chairman of his flagship company CK Hutchison, and will hand over the reins to Victor. Photo: AFP

Hong Kong tycoon Li Ka-shing, right, chairman of CK Hutchison Holdings company, chats with his son, co-managing directors Victor Li attend a press conference to announce the company's annual results in Hong Kong, Friday, March 16, 2018. Hong Kong billionaire Li said Friday he is retiring as chairman of his sprawling conglomerate and handing control to his eldest son. (AP Photo/Kin Cheung)

Hong Kong's Victor Li, son of 'Superman', has hard act to follow

Victor Li Tzar-kuoi, left, with father Li Ka-shing, right,  at a Cheung Kong Holdings Limited news conference on May 25, 2012. Photo: SCMP

Victor Li Tzar-kuoi (L), son of Cheung Kong Holdings chairman Li Ka-shing (R), attends a press conference with his father. Photo: Felix Wong/SCMP

Richard Li Tzar Kai, younger son of Hong Kong tycoon Li Ka-shing.

Center deal a 'painful experience' for Victor Li

Cheung Kong Holdings vice-chairman Victor Li (left), who gave a rare glimpse of his practices at the High Court yesterday. Photo: K.Y. Cheng