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The Cheng Yu-tung Family refers to a wealthy Hong Kong–based family best known for controlling Chow Tai Fook, via which it also owns New World Development and Rosewood Hotel Group, among other businesses.[1]
The businesses are currently being led by Adrian Cheng, the third-generation, and has been called by Citigroup research as being "brave and innovative" among other scions in Hong Kong.[2]
Notable family members
edit- Cheng Yu-tung (1925–2018); founder of Chow Tai Fook
- Henry Cheng (b. 1946); chairman of New World Development
- Adrian Cheng (b. 1979); CEO of New World Development
- Sonia Cheng (b. 1980); CEO of Rosewood Hotel Group
- Brian Cheng (b. 1982); co-CEO of NWS Holdings
- Christopher Cheng (b. 1989); CEO of NWS Modern Logistics Limited
- Peter Cheng (b. 1952)
- Conroy Cheng (b. 1977)
- Conrad Cheng (b. 1979)
- Henry Cheng (b. 1946); chairman of New World Development
Charity
editSince 2019, New World has been involved in donating land to build public housing in Hong Kong.[3]
Businesses
edit- Chow Tai Fook
- New World Development
- NWS Holdings
- Rosewood Hotel Group (parent company of Rosewood Hotels & Resorts)
References
edit- ^ Shih, Toh Han (20 March 2015). "Third generation moving up at New World Development". SCMP. Retrieved 2 October 2021.
- ^ Sito, Peggy (14 November 2020). "New World's Harvard-educated scion upends Hong Kong developers' 'build and sell' business model as city sits at crossroads". SCMP.
- ^ Lam, Ka-sing (25 September 2019). "New World donates almost a fifth of its farmland reserves towards building public homes to ease Hong Kong's housing woes". SCMP.