Legendary Hong Kong Real Estate Tycoon Lee Shau-Kee Passes Away at 97

Lee Shau-kee, a prominent Hong Kong real estate tycoon, passed away on March 18, 2025, at the age of 97. His death was confirmed by Henderson Land Development, the company he founded, although details regarding the location and cause were not disclosed.

Lee Shau-kee was a significant figure in Hong Kong’s real estate market, known for building thousands of apartments for middle-class families. He started his career as a gold and currency dealer and transitioned into real estate, focusing on affordable properties in the New Territories. His foresight in investing in less expensive land proved lucrative as property values soared due to the influx of refugees from mainland China.

Under his leadership, Henderson Land Development expanded significantly. By 2019, when he stepped down, the company employed around 10,000 people and diversified into various sectors, including hotels and natural gas distribution. Forbes estimated his net worth at $29.2 billion, positioning him as the 63rd wealthiest individual worldwide.

Lee’s investment strategies earned him comparisons to Warren Buffett, particularly as he continued to grow his wealth well into his 70s. His approach of purchasing agricultural land in developing areas set him apart from other developers who focused on more expensive plots. This strategic vision allowed him to capitalize on the growing demand for housing in Hong Kong.

Lee Shau-kee’s legacy in real estate and investment will be remembered as a testament to his ability to foresee market Trends and adapt to changing economic landscapes. His contributions significantly shaped the housing market in Hong Kong, providing homes for countless families.

In summary, Lee Shau-kee’s passing marks the end of an era for Hong Kong’s real estate industry. His innovative approach and significant contributions have left a lasting impact on the market and the lives of many residents.