Kowloon Development Company Limited (“KDC”) (stock code: 34), a member of the Polytec Group, was established on 24 January 1961 and was listed on the main board of The Stock Exchange of Hong Kong Limited on 4 July 1995. Since its establishment, the Company has engaged in property investment and investment holding with the operation of its business mainly in Hong Kong in the early years.

In 2002, the Polytec Group gained control of the Company and has substantially broadened the areas of activity. The Group has been pursuing a three-tier development strategy with exposure in the three major property markets in the Greater China region, Hong Kong, Macau and Mainland China. Over the past ten years, it has built a sizeable and quality development landbank across these three markets, at a relatively competitive cost, with the gross floor area attributable to the Group of approximately 4.5 million square meters as of 30 June 2017.

The successful implementation of this change in strategy has laid the foundation for the Group’s significant growth both within its home base of Hong Kong and beyond its borders.

The major focus of the Group to date has been residential development for sale with several Hong Kong projects. In Hong Kong, the Group has recently launched the presale of 63 Pokfulam on Pok Fu Lam Road and continued to promote the sale of the remaining residential units of its three development projects respectively in Mongkok (MacPherson Residence), Hung Hom (Upper East) and Aberdeen (South Coast). Three other wholly-owned projects under development are respectively located in Lei Yue Mun, Tseung Kwan O and Clear Water Bay Road. In Macau, the Group’s two mega luxury residential and commercial development projects in the Orient Pearl district are held through its 73.4% owned listed subsidiary, Polytec Asset Holdings Limited (stock code: 208). In Mainland China, the Group currently has development projects in Shenyang, Tianjin, Wuxi, Huizhou and Foshan which are in various stages of planning and construction. In addition to the residential trading portfolio, the Group’s landbank contains significant retail developments in Hong Kong, Macau, Wuxi and Tianjin which is intended to retain for long term investment purposes in order to grow the Group’s portfolio of recurrent income producing properties to complement the present principal investment asset of the Pioneer Centre in Mongkok, Hong Kong.

Besides expanding the existing landbank in an opportunistic manner and building out the present portfolio, the Company is focusing on building a strong brand as a thoughtful developer producing quality products. The Board and management wish to see a united team working together with passion and a drive for excellence in the products and services which the Company produces.

By realising the inherent value of the landbank under this spirit, the Board believes this will enable a great enterprise to be built and to last.