Hopewell Holdings
| Company type | Private (since 2019) |
|---|---|
| Industry | Property development, infrastructure, hospitality, catering, construction |
| Founded | October 17, 1972 in Hong Kong |
| Founder | Sir Gordon Wu |
| Headquarters | Hong Kong , Hong Kong |
Area served | Hong Kong, Guangdong |
Key people | Sir Gordon Wu (Chairman) |
| Products | Property development, infrastructure projects, property leasing, agency and management services, hospitality and dining operations, catering services, construction and project management |
| Website | www |
Hopewell Holdings Limited () stands as a leading property developer in Hong Kong since its inception in 1972, under the leadership of Sir Gordon Wu.
History
Founded on 17 October 1972, Hopewell Holdings was promptly listed on the Hong Kong stock exchange within the same year, before transitioning to a private company in 2019.
Functioning primarily as a holding company, Hopewell's portfolio includes investments across various sectors such as infrastructure development, property leasing, agency and management services, hospitality and dining operations, catering services, construction, and project oversight.
Its primary operational regions are Guangdong and Hong Kong. Notably, Hopewell was among the first foreign investors to engage in Chinese infrastructure projects and played a pioneering role in Asian infrastructure development. This includes involvement in the ill-fated Bangkok Elevated Road and Train System (BERTS) initiative.
Hopewell once possessed a 68% ownership stake in Hopewell Highway Infrastructure Ltd, which was separated and listed independently on the Hong Kong Stock Exchange in August 2003. This asset was later acquired by Shenzhen Expressway Corporation Limited on 11 January 2022 and subsequently renamed Shenzhen Investment Holdings Bay Area Development Company Limited.
Sir Gordon Wu, co-founder of Hopewell Holdings, held the position of managing director from the company's beginning until January 2002 and continues to serve as chairman.
Infrastructure
Hopewell has invested in five toll road ventures amounting to in Guangdong province’s Pearl River Delta. Of these, four are currently operational. Construction commenced in December 2001 on Phase I of the Guangzhou-Zhuhai West Superhighway, specifically the Guangzhou to Shunde segment. These projects are executed through joint ventures with partners based in mainland China.
- Guangzhou-Shenzhen Superhighway (Guangshen Expressway)
- Guangzhou East-South-West Ring Road
- Shunde Roads
- Shunde 105 Roads
- Guangzhou-Zhuhai West Superhighway
Thailand litigation
Hopewell served as the principal contractor for the Bangkok Elevated Road and Train System project initiated in 1990 but terminated by Thailand’s government in 1998 when only 13% of the work was completed. Responsibility for this outcome was disputed by both parties, resulting in extended legal proceedings. On 23 April 2019, Thailand’s Supreme Administrative Court confirmed an arbitration decision favoring Hopewell, mandating that the State Railway of Thailand (SRT) compensate with 11.88 billion baht plus annual interest at 7.5%. The total award, including interest amounting to approximately 13 billion baht, reached nearly 25 billion baht (around US$400 million), with payment required within 180 days. The Thai Transport Ministry is appealing this verdict, contending that the contract should have been declared void from inception, thereby absolving the government from any compensation obligations.