Lee Shau Kee, a Hong Kong billionaire property developer who built one of the largest real estate empires in the region, has passed away at the age of 97.
His company announced that Lee died peacefully on Monday evening, surrounded by his family. No specific cause of death was provided.
Lee founded Henderson Land Development Co. Ltd. in 1976 and served as its chairman and managing director until 2019. His sons, Peter and Martin Lee, took over as the company’s chairpersons.
Forbes listed Lee as the second-richest person in Hong Kong, with a net worth of $29.2 billion in its most recent rankings.
Henderson Land developed iconic structures, including the International Finance Centre complex and ifc mall, both located in the Central district, a bustling commercial hub.
Born in Guangdong province, China, Lee moved to Hong Kong in 1948, where he became a prominent figure in the real estate sector.
Like many other prominent Hong Kong tycoons, Lee Shau Kee was also a major philanthropist who played a significant role in the development of both Hong Kong and mainland China. In 2007, the Hong Kong government honored him with the Grand Bauhinia Medal for his exceptional contributions to education and community service.
Hong Kong’s leader, John Lee, expressed his condolences following Lee’s passing and commended him as an outstanding business leader and entrepreneur. He acknowledged Lee’s substantial donations to universities in both Hong Kong and mainland China, as well as his support for fostering talent.
Lee Shau Kee is survived by his two sons and three daughters, whom he shared with his ex-wife.