Hong Kong-listed $41 billion mega developer Sun Hung Kai...

Hong Kong-listed $41 billion mega developer Sun Hung Kai Properties has increased its property development footprint in Australia after Australian-listed PBD Developments, of which it owns 33 per cent, announced a new project in Sydney's west.
PBD has entered a binding agreement to participate in a mixed-use development in Parramatta.
PBD, which will operate as Tian An Australia from April 14, has agreed to pay $7 million to undertake exclusive due diligence on the project, currently owned by a local private developer.
The identity of the developer, said to be "experienced" in a note to the ASX, remains confidential.
Sun Hung Kai, which owns the landmark Hong Kong International Finance Centre, is said to be actively seeking out assets in Australia, particularly in Sydney, to bolster its current residential development portfolio held through Tian An.
Current projects
Tian An has two existing projects in Sydney – mixed-used development Burwood Square in the inner west, due for completion this year and fully sold, and Bridgeview, a townhouse development at Annandale which is nearly all sold.
In Victoria, the company has commenced the settlement of housing lots in SeaSpray, a residential subdivision at Point Cook.
It also has a 66-apartment boutique apartment project, Oceanique, in Mandurah, Western Australia, and a mixed-use project, The Milton, in Milton, Queensland which has reached 85 per cent in pre-sales. One of the largest developers in Asia, Sun Hung Kai's property development resume is impressive.
Aside from the IFC tower and mall in Hong Kong, the group has residential developments all over Hong Kong and mainland China, including Shanghai and Guangzhou.
The group owns over 10.7 million square feet of retail space in Hong Kong, with an extensive network of shopping malls in prime areas.
In Singapore, it co-owns the eye-catching Orchard Road landmark, the ION Orchard mall and luxury Orchard Residences, with CapitaLand.
The diversified group also owns hotels, property management, insurance and construction companies in Asia and dabbles in telecommunications.
Notably, brothers Raymond and Thomas Kwok, who run Sun Hung Kai, also own Australian's largest car park operator, Wilson Parking. The brothers are worth about $US14.9 billion ($19.4 billion).
Tian An is a listed Hong Kong company set up in 1986 as a holding company to invest and develop properties in China. Sun Hung Kai owns 15 per cent of Tian An in Hong Kong.

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