Hysan Development

[6]: 141 East Point in colonial times contained mostly residential areas, with some offices dedicated to a British trading company.

It was reported that 74–86 Kennedy Road was the former location of the Lee family mansion, for which a building plan for another potential re-development was approved in 2017.

[16] The company also acquired some properties in Yun Ping Road [zh][17] and re-developed it into Lee Garden Two (called Caroline Centre at that time) in the early 1990s.

[citation needed] In 1991, Hysan Development announced they were negotiating to sell their residential portfolio Garden Terrace in the Mid-Levels.

[22] At the same time, they also developed Tanner Garden in North Point as a for-sale portfolio,[18] as well as owning 5% shares of Hong Kong flag carrier Cathay Pacific Airways as an investment.

[citation needed] Hysan Place achieved pre-certification[clarification needed] at the Platinum level for the United States Green Building Council's Leadership in Energy and Environmental Design (USGBC LEED),[24] and the Hong Kong Building Environmental Assessment Method (HK BEAM) standard.

[25] The re-development also caused a minor controversy; Sunning Plaza, which was set to be demolished in 2013 to make way for Lee Garden Three, was designed by architect I. M. Pei and was considered an oasis in the business district by some citizens.

[27] In 2016, Hysan partnered with HKR International to form a joint venture called Strongbod Limited, which won a tender to buy two neighbouring residential land leases in Tai Po from the government.

[citation needed] In addition, Hysan Development has a sponsored listing of their American Depositary Receipts (ADR)[3] in the OTC Markets Group.

Except Lee Garden Two, which Hysan owned 65.36%, they are wholly owned by the company as leasing floor area: Hysan Place opened in 2012[30] and was the site of Hennessy Centre[31] and Mitsukoshi department store[24] Six of the complexes were partially or entirely on a land-lease called Inland Lot No.29,[3]: 185  despite being broken into several sub-leases.

Despite the height of the building structure above sea level, which was not restricted by the terms in the land lease but by plot ratio, the Town Planning Board introduced new height restrictions in their draft Outline Zoning Plans (OZPs) of the Wan Chai and Causeway Bay areas, causing a potential decrease in re-development values of the area.

[35][36] This policy was officially mentioned in 2009–10 Policy Agenda of the government as "beautifying the coasts of the Victoria Harbour" and "continuing to stipulate in all outline zoning plans clear development restrictions on plot ratio/gross floor area, site coverage and/or building height where justified to improve the living environment" respectively.

[39] Hysan sued the government, quoting clause in the Hong Kong Basic Law on protecting private property rights as rationale, and after losing the case in the High Court, the company appealed the result at the Court of Final Appeal, which referred the case back to the Town Planning Board in 2016.

Despite being a family business,[47] as of 1981, the company also had non-Lee directors such as Kwok Tak-seng of Sun Hung Kai Properties, Geoffrey Yeh of Hsin Chong, Chan Pun of Tai Cheung Holdings and Hu Fa-kuang on the board.