[photopress:Likashing.jpg,full,alignright]Hong Kong tycoon Li Ka-shing, who is the richest person in Hong Kong, expects revenues from mainland real estate projects to almost double in the next five years. The two companies concerned will be, primarily, Cheung Kong Holdings and also Hutchison Whampoa.
Over the years Li Ka-shing has built up a vast empire of residential, hotel and office property, the world’s biggest collection of container ports, retail chains with 6800 outlets, mobile telephone and internet businesses — mostly under his two listed corporate flagships, Cheung Kong Holdings and Hutchison Whampoa, which employ a total 210,000 people worldwide.
In an interview with Forbes magazine the entrepreneur said he foresaw revenue from China for both companies to climb from 8% to at least 15% in the next five years. He said that 10 to 12% of his property firm Cheung Kong’s revenue comes from China and that he expects that to climb to 20% in five years. Li Ka-shing said both his companies have invested a total of more than US$15 billion in China, and he is upbeat about China’s growth potential.
Source: China Knowledge