Artificial Intelligence
Builders Company
Developers/Nan Fung Group
NF
Nan Fung GroupHong Kong, Hong Kong SAR China · founded 1954 · 4 active markets
PRIVATE

Nan Fung Group develops and invests in residential, office, shopping-mall and mixed-use properties in Hong Kong, mainland China, the United States and United Kingdom. It also revitalizes heritage sites and builds life-sciences workplaces, serving residents, businesses, communities and innovation-led occupiers.

Years in business
72
founded 1954
LinkedIn headcount
513
employees, as shown on LinkedIn · size band 1,001–5,000
Portfolio value
GBP 11 billion net assets
2024
Assets under management
USD 15 billion assets
as published or estimated
Total projects
over 170
across the company’s whole history
Projects last researched October 12, 2026
Every figure on this card was read out of a document.

Overview

Investor tear sheet

a summary of the tabs that follow · no rating of our own

Company dossier

Legal name
Nan Fung International Holdings Limited1
Headquarters
2 Concorde Road1, Hong Kong1, Hong Kong
Founded
19541
Entity type
PRIVATE1
Business model
commercial1, mixed use1, other1
Markets
4 markets listed
What they build
Office (5 of 10) · Other (3 of 10) · Mixed use (3 of 10)
Full dossier in About →

Delivery record

7 date-assessed of 10 projects
Unverified by developer

AI-researched delivery record, not yet confirmed by the developer. Dates may be approximate; original sources are linked.

Completed projects from 2016-10-15 through 2026-10-15, with sufficient delivery-date evidence. Date assessment and developer profile verification do not mean an independent audit of every source. Original source links and available snippets are provided. May not represent the developer’s full portfolio. 0 undated and 0 boundary-uncertain completions are excluded. Delivery exceptions are listed separately under Projects.
Completed projects assessed
10
within the rolling ten-year window
Median delay
+10.0 mo
the middle of 7 scored projects
Average delay
+8.0 mo
the same projects, pulled by the worst
Average time to deliver
3.0 yrs
start to completion, over 7 delivered projects
Worst slip
+28.0 mo
1 Winthrop Square · +21.0 to +35.0
3
early or less than 6 months late
6 to 12 months late
3
yellow rows below
Over 12 months late
1
red rows below

Against other developers

7 date-assessed here · 9 developers, 48 date-assessed projects in Hong Kong SAR China
Median delay
Nan Fung Group·9 developers in Hong Kong SAR China
+10.0 mo vs 0.0 mo
this developer 10.0 mo worse
The typical project on each side.
Average delay
Nan Fung Group·9 developers in Hong Kong SAR China
+8.0 mo vs +2.0 mo
this developer 6.0 mo worse
Both pulled by their worst few.
On time
Nan Fung Group·9 developers in Hong Kong SAR China
43% vs 85%
this developer 42 pts worse
Share of date-assessed projects delivered early or less than 6 months after the original target. Exactly 6 months late is excluded.
Average time to deliver
Nan Fung Group·9 developers in Hong Kong SAR China
3.0 yrs vs 2.6 yrs
this developer 0.4 yrs slower
Start to completion, over 7 delivered here and 36 in the market.
Projects and timelines in Track Record →

Resident experience

5 of 10 buildings rated · scale 1–10

AI research over published reviews and resident comments. Scores are a model’s reading of opinion, not figures stated on a page, and nothing here feeds any number above it. The links under each block are the pages that research says it used. Based on available resident reviews of covered buildings. These are reported experiences, not independent building inspections, and may not represent all residents or properties.

Overall verdict
7.2/ 10
Weighted judgment across build and operations · from 5 of 5 rated buildings
Little structure evidence (1 of 5 buildings) — this rests mainly on whole-building and living reviews.
Structure & systems
5.0/ 10
Fabric, services, waterproofing, envelope · from 1 of 5 rated buildings
Management & living
6.8/ 10
Upkeep, response times, amenities, community · from 5 of 5 rated buildings

Against other developers

5 rated here · 9 developers, 47 rated buildings in Hong Kong SAR China
Overall rating
Nan Fung Group · 9 other developers in Hong Kong SAR China
7.2 vs 7.8
this developer 0.6 worse
The weighted verdict on each side. From 5 of 5 rated buildings here and 47 in the market.
Structure & systems
Nan Fung Group · 9 other developers in Hong Kong SAR China
— vs —
Too few buildings with this score here to compare (1 of 5)
Fabric and engineering only — fixed at handover. From 1 of 5 rated buildings here and 12 in the market.
Management & living
Nan Fung Group · 9 other developers in Hong Kong SAR China
6.8 vs 7.5
this developer 0.7 worse
Upkeep and response — belongs to whoever runs the building now. From 5 of 5 rated buildings here and 35 in the market.
The market here is Hong Kong SAR China: every other developer whose head office is in the same country, because the review platforms residents use, and the service norms they judge against, move together within one. It is not a city, a sector or a price band. Read structure and living together. A developer above the market on structure and below it on living builds well and runs buildings badly, which is a fixable problem and a different one from building badly. Higher ratings are better; differences use the displayed scores rounded to one decimal. Rated buildings only, on both sides, and a structure or living score with no stated basis — no review count and no notes or links — is left out of both.
Ratings by building →

Awards & recognition

All awards →

Risks & source coverage

  • DELIVERY DELAY Original commitment published 10 May 2021; revised commitment published 12 May 2023. Nan Fung’s own 10 May 2021 announcement said AIRSIDE would open in Q4 2022, but its 10 May 2023 announcement revised the planned soft opening to Q3 2023; this documents a delay in the developer’s stated opening timetable, not a claim that the project was abandoned or that the revised date was missed.
  • PROJECT CANCELLED 2016-10-19 publication; sale agreement announced 2016-10-18; project reportedly stalled for nearly four years before the sale Nan Fung Group’s Wuxi Nanfeng Hui mixed-use project remained stalled for nearly four years after its 2012 groundbreaking, had not taken shape or obtained required construction approvals when the project company was sold in October 2016, and was transferred to a Green Land-linked buyer rather than completed by Nan Fung; this is a project-level finding and does not by itself establish wider parent liability.
  • PROJECT CANCELLED 2007 announcements; status reported retrospectively on 2023-07-14 Nan Fung China’s Beijing Xilai Plaza (One Square) project was announced as a major mixed-use development, but a 2023 retrospective reported that the project and the separately announced Beijing Financial Street No. 1 project stopped after their initial disclosures; the available evidence is historical and does not document a later restart or completion.
  • 1 more in Risk & Sources
Record status
active
Company sources
99 source entries across 99 fields
Projects tracked
10 · 10 completed in assessment
All flags and sources →

Track Record

Delivery record

7 date-assessed of 10 projects
Unverified by developer

AI-researched delivery record, not yet confirmed by the developer. Dates may be approximate; original sources are linked.

Completed projects from 2016-10-15 through 2026-10-15, with sufficient delivery-date evidence. Date assessment and developer profile verification do not mean an independent audit of every source. Original source links and available snippets are provided. May not represent the developer’s full portfolio. 0 undated and 0 boundary-uncertain completions are excluded. Delivery exceptions are listed separately under Projects.
Completed projects assessed
10
within the rolling ten-year window
Median delay
+10.0 mo
the middle of 7 scored projects
Average delay
+8.0 mo
the same projects, pulled by the worst
Average time to deliver
3.0 yrs
start to completion, over 7 delivered projects
Worst slip
+28.0 mo
1 Winthrop Square · +21.0 to +35.0
3
early or less than 6 months late
6 to 12 months late
3
yellow rows below
Over 12 months late
1
red rows below

Against other developers

7 date-assessed here · 9 developers, 48 date-assessed projects in Hong Kong SAR China
Median delay
Nan Fung Group·9 developers in Hong Kong SAR China
+10.0 mo vs 0.0 mo
this developer 10.0 mo worse
The typical project on each side.
Average delay
Nan Fung Group·9 developers in Hong Kong SAR China
+8.0 mo vs +2.0 mo
this developer 6.0 mo worse
Both pulled by their worst few.
On time
Nan Fung Group·9 developers in Hong Kong SAR China
43% vs 85%
this developer 42 pts worse
Share of date-assessed projects delivered early or less than 6 months after the original target. Exactly 6 months late is excluded.
Average time to deliver
Nan Fung Group·9 developers in Hong Kong SAR China
3.0 yrs vs 2.6 yrs
this developer 0.4 yrs slower
Start to completion, over 7 delivered here and 36 in the market.
The market here is Hong Kong SAR China: every other developer whose head office is in the same country, because planning regimes and reporting norms move together within one. It is not a city, a sector or a size band. Read the two delay figures together. A median close to the market with a much better average means no single disaster; the reverse means one project is carrying the record. Time to deliver runs from the earliest start we hold to the completion itself — a construction start where a source gave one, otherwise a sales launch, otherwise the launch year read as its January. A handover the sources place only inside a year is read as that December, so a duration is the widest the record allows rather than the flattering end of it. Only delivered projects dated at both ends count, so it is taken over fewer projects than the delay figures, and a long build is not a fault: a tower is not a villa run. Sourced figures only, both sides, and values taken from documents held on file are excluded here — a developer who shares their records should not score better than one who does not.

Construction start to handover

10 of 10 projects dated · 6 places
Based on covered projects with documented construction or launch dates and available handover dates. Timelines vary by project and may not represent the developer’s full portfolio.
Construction start, or the launchTarget completion (window)Completion or handover, as reportedCurrently statedLaunch year only, no date publishedEarly or ≤6 mo lateOver 6–12 mo lateOver 12 mo lateStalled
London, United Kingdom
Long Island City, United States
Shanghai, China
Hong Kong, Hong Kong SAR China
Boston, United States
New York, United States
201620172018201920202021202220232024202520262027todayLONDON, UNITED KINGDOMcompleted, no target publishedLONG ISLAND CITY, UNITED STATES+12 moestimatedSHANGHAI, CHINA+12 moverifiedHONG KONG, HONG KONG SAR CHINA+10 moverified−6 moverifiedon timeverifiedon timeverifiedBOSTON, UNITED STATES+28 moverified+20.5 moestimatedNEW YORK, UNITED STATES+12 moverified
Click a row in the chart to open a project, or a table row below to see its sources. The chart runs wider than the page where the record spans many years — scroll it sideways to follow a project to its handover. Every date we have is drawn. A hollow marker is only a launch year, not a date anyone published. No dates published means we looked and found none; dates not yet checked means we have not looked yet. Handing over is not finished — rows say which. A delay is shown when one source gives the promised date and another gives the real one, however rough: "2019" still counts, and the row shows how wide that is. Projects missing one of the two dates, or with sources that disagree, are left out of the figures. 2 turned out to be about something else — a phase, a neighbour, the wider masterplan — and are marked off-subject.

Building & Livability Ratings

Resident experience

5 of 10 buildings rated · scale 1–10

AI research over published reviews and resident comments. Scores are a model’s reading of opinion, not figures stated on a page, and nothing here feeds any number above it. The links under each block are the pages that research says it used. Based on available resident reviews of covered buildings. These are reported experiences, not independent building inspections, and may not represent all residents or properties.

Overall verdict
7.2/ 10
Weighted judgment across build and operations · from 5 of 5 rated buildings
Little structure evidence (1 of 5 buildings) — this rests mainly on whole-building and living reviews.
Structure & systems
5.0/ 10
Fabric, services, waterproofing, envelope · from 1 of 5 rated buildings
Management & living
6.8/ 10
Upkeep, response times, amenities, community · from 5 of 5 rated buildings

Against other developers

5 rated here · 9 developers, 47 rated buildings in Hong Kong SAR China
Overall rating
Nan Fung Group · 9 other developers in Hong Kong SAR China
7.2 vs 7.8
this developer 0.6 worse
The weighted verdict on each side. From 5 of 5 rated buildings here and 47 in the market.
Structure & systems
Nan Fung Group · 9 other developers in Hong Kong SAR China
— vs —
Too few buildings with this score here to compare (1 of 5)
Fabric and engineering only — fixed at handover. From 1 of 5 rated buildings here and 12 in the market.
Management & living
Nan Fung Group · 9 other developers in Hong Kong SAR China
6.8 vs 7.5
this developer 0.7 worse
Upkeep and response — belongs to whoever runs the building now. From 5 of 5 rated buildings here and 35 in the market.
The market here is Hong Kong SAR China: every other developer whose head office is in the same country, because the review platforms residents use, and the service norms they judge against, move together within one. It is not a city, a sector or a price band. Read structure and living together. A developer above the market on structure and below it on living builds well and runs buildings badly, which is a fixable problem and a different one from building badly. Higher ratings are better; differences use the displayed scores rounded to one decimal. Rated buildings only, on both sides, and a structure or living score with no stated basis — no review count and no notes or links — is left out of both.

By building

5 rated · 5 not rated · scale 1–10
ProjectOverallStructure & systemsManagement & living
AIRSIDEKai Tak Development Area, Hong Kong
8.5/ 10
—/ 10
7.7/ 10
Apple Maps 89/100 · 19 reviews · maps.apple.com
Apple Maps 90/100 · 20 reviews · maps.apple.com
Combined from 2 published figures on 1 platform, weighted by review count, adjusted for where resident ratings usually fall and weighted toward the 6.5 midpoint where reviews are few: 7.7.

Apple Maps provides the largest applicable aggregate found: 88% from 24 ratings, used as the anchor and converted to 8.8/10. Tripadvisor reports 4.4/5 from 16 guest reviews, which is directionally lower but not a resident aggregate; the final 8.5 reflects the smaller dissent and limited operational complaints without inventing a structural score.

− Reported lift sudden-drop incident− Confusing lift controls
+ Spacious modern design+ Rooftop garden and green spaces+ Direct MTR access+ Family-friendly facilities
− Confusing wayfinding− Limited retail mix− Perceived cafe-heavy tenant mix− Lift-control confusion

Published material does not provide a verified engineering condition assessment or a structural rating. A 2026 report relays an early-user allegation that a lift experienced a sudden drop and required staff to handle the matter for a long time; the same report says the white-lit buttons confused users, with one person calling the design 「反人類」. These are reported operational observations, not confirmation of a continuing structural defect.

Visitors commonly praised AIRSIDE as “nicely designed,” “spacious and modern,” with a “huge outdoor garden,” rooftop views and direct Kai Tak MTR access. The negative feedback focused on daily usability rather than staff attitude: reviewers and reported online comments described confusing signage, an unclear retail proposition and lift buttons that made users think their floor selection had not registered.

LP10Tseung Kwan O, Hong Kong893 units
7.6/ 10
—/ 10
6.4/ 10

Google’s building page supplies the largest clearly identifiable review base, 3.8/5 from 50, which converts to 6.4 on the requested curve and sets the level. The smaller OKAY.com aggregate is materially more positive but is less clearly resident-generated, while the available review text adds repeated praise for views without a qualifying recurring complaint theme; the resulting score is therefore 6.4.

− Uneven floors reported− Poor soundproofing reported
+ Waterfront views+ Pleasant sea view+ Luxury feel+ Nice interior design+ 24-hour security listed
− Drilling/noise complaints− Management response criticised− Long walk/poor station exit reported

One Google review reports “uneven floors” and “very poor sound proofing,” with outside and upstairs noise audible; this is a single resident report, not a verified building-wide defect. A 2022 inspection of one LP10 unit recorded a published score of 81/100, but also found a serious kitchen waste-pipe connection leak, exterior tile debonding/voids and unfinished external workmanship; the inspection score is not treated as a review-platform rating.

Reviews praise the views and setting: one calls LP10 a “prestigious and luxury living place,” while another says it has “beautiful scenery” and a “reasonably convenient” location. The principal operational complaint says management “does nothing to stop the constant drilling” and “simply don't care”; another review criticises the MTR exit and reports a one-hour walk from Tiu Keng Leng Station.

1 Winthrop SquareFinancial District, Boston
7.5/ 10
—/ 10
7.5/ 10

Apple Maps is the only applicable published review aggregate located and reports 100% from one rating; its nominal conversion is 10/10, but the anchor has fewer than 10 reviews, so the result is kept within one point of 6.5 as required. No recurring complaints or recurring praise were established, and no structure score is assigned because no review-based structural rating was found.

+ High ceilings and open floor plans+ 100% outside-air HVAC+ Centralized lab-waste pH neutralization+ Modernized 2023 lab/office conversion+ Secure bike storage
+ 24-hour staffed security+ On-site management+ Secure bike storage+ Adjacent Winthrop Square Park+ Walkable Financial District location

Published project material describes the building as a sturdy 1873 structure with high ceilings and open floor plans. A 2021 trade report said the conversion involved substantial piping and mechanical systems and noted that retrofitting a standing building makes the mechanicals “a little more challenging”; this is project commentary, not a resident complaint or review.

The published building description lists “24-hour 7-day staffed security” and on-site management, while the current project site lists secure bike storage and the adjacent park. There is no resident review text establishing staff quality, management responsiveness, cleanliness, or day-to-day living experience; Apple Maps reports only “100% 1 rating.”

Island GardenShau Kei Wan, Hong Kong470 units
6.4/ 10
—/ 10
6.2/ 10

Google Reviews/Maps 對該大廈發布3.8/5,基於71則評論,按指定曲線轉為6.4,故成為錨點。所讀評論對保安、景觀及居住感受有正面評價,但交通、出入口及距離港鐵的負面意見較突出,因此作約0.2分的有限下調;驗樓報告的座廁及露台問題只影響結構觀察,沒有足夠公開評論證據建立結構分數。

+ 整體樓盤質素不錯
− 浴室座廁部件鬆脫及穩固性問題− 露台空磚可能谷起、爆裂及養水− 潛在滲漏風險
+ 保安良好+ 景觀佳+ 空氣好+ 會所及住客設施多元
− 位置及交通便利性評價不一− 車輛出入口迂迴− 部分評論認為不近港鐵

驗樓報告稱香島「樓盤質素整體不錯」,但指出浴室座廁不同部件有鬆脫及虛位,長期可能導致陶瓷爆裂及滲漏。報告亦指出露台空磚可能因日曬雨淋而谷起或爆裂,破壞表面保護並造成長期養水;這是驗樓觀察,不是多名住客的結構故障統計。

住客評論中有人寫「Great security and great view」、有人稱「Good condominium」,亦有評論指空氣好但「唔近港鐵站」。負面意見集中在交通及位置:有人寫「Very inconvenient location」,另有人指駕車離開時只能左轉並要大迴旋;這些是生活便利性抱怨,不是管理失誤。

LP6Tseung Kwan O, Hong Kong2,392 units
6.0/ 10
5.0/ 10
6.1/ 10

Google’s building-level aggregate of 3.7/5 from 142 reviews sets the level, converting to 6.1/10 under the specified curve. The reported severe leak is a material structural warning, while repeated praise for views and access provides a smaller positive offset; the result is 5.8/10 overall. Structure is held at 5.0 because the published evidence contains concrete leakage and inspection defects but no building-wide engineering assessment; living remains at the converted anchor level.

+ Modern/new apartments+ Sea views
− Severe rainwater ingress− Suspected failed waterproofing− Window leakage risk− Loose window lock− Rusting bathroom fittings
+ Sea and mountain views+ Quiet area+ Walking and cycling paths+ Large indoor and outdoor pools+ Well-equipped gym
− Incompetent management reported− Smoke nuisance reported− Narrow car-park roads− Low value-for-money complaint− Limited nearby supermarket and mall

Published inspection and complaint material reports a 78/100 inspection result for one LP6 unit, with tiling scoring zero and windows scoring 3/10; the inspector also found drainage and window-sealing concerns. A separate owner report described rainwater entering repeatedly, including “黑雨又漏到整個水簾洞,” while the source said the management side suspected façade ageing or waterproofing failure; the developer said the case was individual and that repairs were being followed up.

Resident-facing reviews describe a generally attractive daily setting: “quiet area,” good walking and biking paths, sea/mountain views, and a large pool with a reasonably equipped gym. The negative operational feedback is also direct: one reviewer reported “bottom of barrel employees” and “incompetent property management,” while another reported long-term frequent weed smoke in Tower 1; these are individual reports rather than recurring themes in the written sample.

Only buildings that have reached handover are rated. 5 of 10 projects carry no rating: a building still under construction is never asked about, one that has just been handed over may not have been reached yet, and the rest were asked about and no published resident commentary was found. Structure is fixed at handover and stays the developer's; management and living belongs to whoever runs the building now. The overall verdict weights both rather than averaging them. None of this is checked: a rating is what people published about a building, aggregated — it is not evidence, it cannot move a delay figure, and it is not part of the delivery record above.

About

Company dossier

Legal name
Nan Fung International Holdings Limited
Headquarters
2 Concorde Road, Hong Kong, Hong Kong
Kai Tak
Founded
1954
Hong Kong, Hong Kong
Entity type
PRIVATE
Revenue
USD 250 million annual revenue
Business model
commercial, mixed use, other

Offices

head office and 2 others
BostonLondon

Sources: office cities

COMPANYdate not shown in source

NF International Real Estate: Home

NF International Real Estate
NF International Real Estate is a Boston-based real estate investment and operating platform focused on developing and managing world-class life sciences and office properties across the U.S.
value seen: Boston
value paraphrased from this source
https://www.nfinternationalre.com/

Sources: office cities

COMPANY2024-08-01

Nan Fung Group to Unify Its Ownership in Endurance Land

Endurance Land
Endurance Land will continue to be under Nan Fung Group’s leadership, and continue to invest, develop and manage best-in-class commercial portfolio in Central London.
value seen: London
value paraphrased from this source
https://www.enduranceland.com/2024/nan-fung-group-to-unify-its-ownership-in-endurance-land/

Partners

4 partners
Endurance Land LLP
joint venture

Nan Fung announced it would acquire all remaining interests so Endurance Land would become a wholly owned platform, continuing to invest, develop and manage commercial property in Central London.

Multiplex
contractor

Endurance Land, a Nan Fung Group member, appointed Multiplex as main contractor for the 99 City Road commercial development in London.

Innovo Property Group
joint venture

IPG and Nan Fung Group formed an equity joint venture for the 24-02 49th Avenue property in Long Island City, New York.

MILL6 Foundation
partner

MILL6 manages and operates CHAT at The Mills; Nan Fung Group is its Main Donor.

Sources: name

PRESS2024-08-01

Nan Fung Group to Unify Its Ownership in Endurance Land

Endurance Land
Nan Fung Group announces today that it will acquire all remaining interests in Endurance Land LLP
value seen: Endurance Land LLP
https://www.enduranceland.com/2024/nan-fung-group-to-unify-its-ownership-in-endurance-land/

Sources: partner type

PRESS2024-08-01

Nan Fung Group to Unify Its Ownership in Endurance Land

Endurance Land
Nan Fung Group announces today that it will acquire all remaining interests in Endurance Land LLP, which will then become a wholly-owned platform under the Group upon completion of the buyout.
value seen: acquire all remaining interests
no listed category matches this wording, so it is shown as the source wrote it
held out of the figures · no listed category matches this wording
value paraphrased from this source
https://www.enduranceland.com/2024/nan-fung-group-to-unify-its-ownership-in-endurance-land/

Sources: summary

PRESS2024-08-01

Nan Fung Group to Unify Its Ownership in Endurance Land

Endurance Land
which will then become a wholly-owned platform under the Group upon completion of the buyout.
value seen: wholly-owned platform
https://www.enduranceland.com/2024/nan-fung-group-to-unify-its-ownership-in-endurance-land/

Sources: name

CONTRACTOR2026-08-10

Endurance Land and Multiplex Advance Landmark Tower, 99 City Road

Endurance Land
Endurance Land, a Member of Nan Fung Group, has formally appointed Multiplex as main contractor for their landmark scheme, 99 City Road, EC1.
value seen: Multiplex
https://www.enduranceland.com/2026/endurance-land-and-multiplex-advance-landmark-tower-99-city-road/

Sources: partner type

CONTRACTOR2026-08-10

Endurance Land and Multiplex Advance Landmark Tower, 99 City Road

Endurance Land
Endurance Land, a Member of Nan Fung Group, has formally appointed Multiplex as main contractor for their landmark scheme, 99 City Road, EC1.
value seen: main contractor
no listed category matches this wording, so it is shown as the source wrote it
held out of the figures · no listed category matches this wording
value paraphrased from this source
https://www.enduranceland.com/2026/endurance-land-and-multiplex-advance-landmark-tower-99-city-road/

Sources: summary

CONTRACTOR2026-08-10

Endurance Land and Multiplex Advance Landmark Tower, 99 City Road

Endurance Land
Endurance Land, a Member of Nan Fung Group, has formally appointed Multiplex as main contractor for their landmark scheme, 99 City Road, EC1.
value seen: 99 City Road
value paraphrased from this source
https://www.enduranceland.com/2026/endurance-land-and-multiplex-advance-landmark-tower-99-city-road/

Sources: name

PRESS2019-11-08

Innovo Property Group forms equity JV with Nan Fung Group

Institutional Real Estate, Inc.
Innovo Property Group (IPG), a New York City–based real estate investment and operating company founded by Andrew Chung and backed by Nan Fung Group, has announced the closing of a $438 million recapitalization
value seen: Innovo Property Group
https://irei.com/news/innovo-property-group-forms-equity-jv-nan-fung-group/

Sources: partner type

PRESS2019-11-08

Innovo Property Group forms equity JV with Nan Fung Group

Institutional Real Estate, Inc.
IPG previously owned the property with Westbrook Partners and recapitalized the asset through an equity joint venture with Nan Fung Group
value seen: equity joint venture
no listed category matches this wording, so it is shown as the source wrote it
held out of the figures · no listed category matches this wording
value paraphrased from this source
https://irei.com/news/innovo-property-group-forms-equity-jv-nan-fung-group/

Sources: summary

PRESS2019-11-08

Innovo Property Group forms equity JV with Nan Fung Group

Institutional Real Estate, Inc.
IPG previously owned the property with Westbrook Partners and recapitalized the asset through an equity joint venture with Nan Fung Group
value seen: 24-02 49th Ave.
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://irei.com/news/innovo-property-group-forms-equity-jv-nan-fung-group/

Sources: name

COMPANYdate not shown in source

The Mills - Nan Fung Group

Nan Fung Group
Founded in 2015, MILL6 Foundation (MILL6) is a non-profit arts and cultural organisation that manages and operates CHAT.
value seen: MILL6 Foundation
https://www.nanfung.com/en/our-business/the-mills/

Sources: partner type

COMPANYdate not shown in source

The Mills - Nan Fung Group

Nan Fung Group
The D. H. Chen Foundation is the Founding Donor and Nan Fung Group is the Main Donor.
value seen: Main Donor
no listed category matches this wording, so it is shown as the source wrote it
held out of the figures · no listed category matches this wording
value paraphrased from this source
https://www.nanfung.com/en/our-business/the-mills/

Sources: summary

COMPANYdate not shown in source

The Mills - Nan Fung Group

Nan Fung Group
MILL6 Foundation (MILL6) is a non-profit arts and cultural organisation that manages and operates CHAT.
value seen: manages and operates CHAT
https://www.nanfung.com/en/our-business/the-mills/

Registrations & licences

COMPANY NUMBER1665059
British Virgin Islands Registrar of Corporate Affairs · British Virgin Islands · active holding company
Jurisdiction-agnostic: a DLD number, a Companies House number and a state RERA registration all land in the same table.

Contact

Markets

4 countries
Hong Kong SAR Chinaactive 4 projects tracked
Chinaactive 1 project tracked
United Statesactive 4 projects tracked
United Kingdomactive 1 project tracked

What they build

6 types
Office5 of 10
Other3 of 10
Mixed use3 of 10
Residential, for sale3 of 10
Industrial2 of 10
Retail2 of 10
A project counts once under each type it carries, so the shares add to more than the project count.

Management

Principals & executives

6 names found
AL
Antony Leung Kam-chung
Antony Leung is Nan Fung Group’s Group Chairman and a senior finance and public-policy executive. His documented background includes Blackstone, Hong Kong’s Financial Secretary role, JPMorgan Chase and Citigroup, giving him substantial investment, banking and public-sector experience.
Current title
Group Chairman
Experience
no career length stated
Companies before
BlackstoneJPMorgan ChaseCitigroup
Education
The University of Hong KongBachelor of Social Sciences in economics and statistics
Harvard Business SchoolProgramme for Management Development and Advanced Management Program
Other boards
Group Chairman and Co-founder, New Frontier GroupSenior Advisor and member of International Advisory Board, BlackstoneNon-Executive Vice Chairman, China Merchants CapitalChairman, Harvard Business School Association of Hong KongChairman, Heifer International Hong KongChairman, Food Angel
Known for
Group Chairmanex-Blackstoneex-Financial Secretary of Hong Konginvestment banking

Sources: institution

OTHERdate not shown in source

Interview with Antony Leung

Yale School of Management · carried by som.yale.edu
Mr. Leung graduated from the University of Hong Kong in 1973
value seen: The University of Hong Kong
value paraphrased from this source
https://som.yale.edu/blog/interview-with-antony-leung

Sources: full name

COMPANY2024-09-30

sewit report 2023–24

Nan Fung Group
Antony Leung Group Chairman
value seen: Antony Leung
value paraphrased from this source
https://blob.nanfung.com/wordpress/2024/09/SEWIT-Report-2023-24.pdf

Sources: previous companies

OTHERdate not shown in source

Antony Leung

New Frontier
Prior to this, Antony was Senior Managing Director, Chairman of Greater China and a member of the Executive Committee of Blackstone.
value seen: Blackstone
value paraphrased from this source
https://www.new-frontier.com/en/nf-team/antony-leung/

Sources: title

COMPANYdate not shown in source

sewit report 2023–24

Nan Fung Group
Antony Leung Group Chairman
value seen: Group Chairman
value paraphrased from this source
https://blob.nanfung.com/wordpress/2024/09/SEWIT-Report-2023-24.pdf
VC
Vincent Cheung Sai-sing
Vincent Cheung is Group Chief Executive Officer, responsible for Nan Fung’s strategic development and overall operations. He joined in 2009 after financial-sector roles at Citigroup and Barclays, and also leads life-sciences investment and related ecosystem initiatives.
Current title
Group Chief Executive Officer
since 2021
Experience
no career length stated
Companies before
Barclays Capital Asia LimitedCitigroup Global Markets Asia Limited
Education
University of California, BerkeleyHonors degree in Molecular and Cell Biology
Other boards
Founder and Chairman, Hong Kong Life Sciences SocietyChairman, Pivotal Life SciencesTrustee, UC Berkeley FoundationMember, UC Berkeley Chancellor’s Asia CouncilCourt member, University of Hong KongBoard member, Hong Kong University Technology Transfer Office
Known for
Group CEOex-Barclaysex-CitigroupUC Berkeley honors graduatelife-sciences investor

Sources: full name

OTHERdate not shown in source

Mr Vincent CHEUNG

Our Hong Kong Foundation
Vincent Cheung
value seen: Vincent Cheung Sai-sing
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://ourhkfoundation.org.hk/en/profile/Mr-Vincent-CHEUNG

Sources: title

OTHERdate not shown in source

Mr Vincent CHEUNG

Our Hong Kong Foundation
Mr. Vincent Cheung is the Chief Executive Officer of the Nan Fung Group
value seen: Group Chief Executive Officer
held out of the figures · the quote does not carry this value
value paraphrased from this source
https://ourhkfoundation.org.hk/en/profile/Mr-Vincent-CHEUNG
VC
Vanessa Cheung Tih-lin
Vanessa Cheung is Group Managing Director and manages Nan Fung’s global real-estate development portfolio. She founded The Mills revitalisation project and leads the Group’s SEWIT framework; her background includes landscape design and teaching at the University of Hong Kong.
Current title
Group Managing Director; Founder of The Mills; Chairperson of the SEWIT Committee
Experience
no career length stated
Companies before
AECOM
Education
City University of Hong KongDoctor of Philosophy
Harvard UniversityMaster’s in Landscape Architecture
University of California, BerkeleyBachelor’s in Molecular and Cell Biology
Other boards
Dean’s Council, Harvard Graduate School of DesignBoard member, Hong Kong Tourism Board (appointed 2021)
Known for
Group Managing DirectorFounder of The Millsreal-estate developmentHarvard MLAPhD
https://linkedin.com/in/vanessa-cheung-8206b923
VC
Vivien Chen Wai-wai
Vivien Chen is Nan Fung Group’s Honorary Chairman and the founder’s daughter. Independent biographical sources describe her succession to the chair after assisting her father in the family business; as of the latest retrieved profile she also leads Vervain Group and the D. H. Chen Foundation.
Current title
Honorary Chairman
Experience
no career length stated
Companies before
none sourced
Education
not published
Other boards
Founder and Chairman, Vervain GroupChairman, The D. H. Chen FoundationBoard member, Hong Kong Eating Disorders AssociationTrustee, Shaw College, The Chinese University of Hong Kong
Known for
Honorary Chairmanfamily ownerreal-estate track recordphilanthropist

Sources: full name

OTHERdate not shown in source

Ms Vivien CHEN Wai-wai

Our Hong Kong Foundation
Ms Chen is the Honorary Chairman of Nan Fung Group which was founded by her father, Dr. Chen Din-hwa.
value seen: Vivien Chen Wai-wai
held out of the figures · the quote does not carry this value
https://web2.ourhkfoundation.org.hk/en/profile/Ms-Vivien-CHEN-Wai-wai

Sources: other boards

OTHERdate not shown in source

Ms Vivien CHEN Wai-wai

Our Hong Kong Foundation
Ms Chen is also the Founder and the Chairman of the Vervain Group of companies with diversified activities and investments in many parts of the world.
value seen: Founder and Chairman, Vervain Group
held out of the figures · the quote does not carry this value
https://web2.ourhkfoundation.org.hk/en/profile/Ms-Vivien-CHEN-Wai-wai

Sources: title

OTHERdate not shown in source

Ms Vivien CHEN Wai-wai

Our Hong Kong Foundation
Ms Chen is the Honorary Chairman of Nan Fung Group which was founded by her father, Dr. Chen Din-hwa.
value seen: Honorary Chairman
https://web2.ourhkfoundation.org.hk/en/profile/Ms-Vivien-CHEN-Wai-wai
BH
Billy Hui
Billy Hui is an executive property leader overseeing Nan Fung’s Hong Kong property division and reporting to the Group’s senior leadership. The Mills Fabrica describes him as also overseeing The Mills and focusing on the Group’s global real-estate businesses and financial investments; before Nan Fung he worked at Morgan Stanley.
Current title
Executive Director, Hong Kong Property Division; Director, Group CEO’s Office
since Dec 2013
Experience
no career length stated
Companies before
Morgan Stanley
Education
not published
Other boards
Director, The Mills
Known for
Executive DirectorHong Kong Propertyex-Morgan StanleyThe Mills directorreal-estate operations
https://linkedin.com/in/billy-hui-4b8098181

Sources: full name

OTHERdate not shown in source

Our Team

The Mills Fabrica
Billy Hui Deputy Head of Property Division – Nan Fung Group Director – The Mills
value seen: Billy Hui
https://www.themillsfabrica.com/about-us/our-team/

Sources: previous companies

OTHERdate not shown in source

Our Team

The Mills Fabrica
Prior to joining the Group in 2013, he worked in Morgan Stanley
value seen: Morgan Stanley
https://www.themillsfabrica.com/about-us/our-team/

Sources: title

SOCIALdate not shown in source

Billy Hui

LinkedIn
Executive Director - Hong Kong Property & Director - Group CEO’s Office
value seen: Executive Director, Hong Kong Property Division; Director, Group CEO’s Office
held out of the figures · the quote does not carry this value
https://linkedin.com/in/billy-hui-4b8098181
NT
Nelson Tang
Nelson Tang is identified as Nan Fung Group’s Group CFO and as executive assistant to the Group Chairman. His public professional profile describes him as an experienced CFO with exposure to real estate, financial institutions and investments, with Wharton training.
Current title
Group Chief Financial Officer; Executive Assistant to Group Chairman
since Jan 2017
Experience
no career length stated
Companies before
none sourced
Education
The Wharton School of the University of Pennsylvania
Other boards
none sourced
Known for
Group CFOfinancereal estate financeWharton
https://linkedin.com/in/nelson-t-6198a21

Sources: institution

SOCIALdate not shown in source

Nelson T.

LinkedIn
Strong finance professional graduated from the Wharton School of University of Pennsylvania
value seen: The Wharton School of the University of Pennsylvania
held out of the figures · the quote does not carry this value
https://linkedin.com/in/nelson-t-6198a21

Sources: full name

COMPANYdate not shown in source

Nan Fung Group Issues First Sustainability Bond Under Updated Sustainable Finance Framework

Nan Fung Group
Nelson Tang, Group Chief Financial Officer of Nan Fung Group
value seen: Nelson Tang
https://www.nanfung.com/en/about-us/announcement/nan-fung-group-issues-first-sustainability-bond-under-updated-sustainable-finance-framework/

Sources: linkedin page

SOCIALdate not shown in source

Nelson T.

LinkedIn
Group CFO at Nan Fung Group
value seen: https://linkedin.com/in/nelson-t-6198a21
https://linkedin.com/in/nelson-t-6198a21

Sources: title

SOCIALdate not shown in source

Nelson T.

LinkedIn
Group Chief Financial Officer; Executive Assistant to Group Chairman
value seen: Group Chief Financial Officer; Executive Assistant to Group Chairman
https://linkedin.com/in/nelson-t-6198a21

Projects

Assessment coverage

Completed projects: 2016-10-15 through 2026-10-15. Initial research is capped at 10 completed projects and a separate delivery-risk search capped at 7 findings. Risk findings are not project assessment counts. Absence is not proof of a complete portfolio or no failures. Month-level dates overlapping a boundary are excluded from figures.

0 undated completions and 0 boundary-uncertain completions are retained but excluded from figures.

Stalled, cancelled & overdue projects

0 evidenced cases
The capped delivery-risk search ran; no project-level exception cases are recorded here. Risk findings are listed under Risks and are separate from assessed projects. This does not establish that the developer has no delivery failures.

Completed projects

10 projects
ProjectLocationTypeUnitsFloorsAreaCostPayment planLaunchedConstruction startOriginal targetHandoverDelayConfidenceStatus
Jahn CourtLondon, United Kingdom
King’s Cross
office, other———GBP 89m
contract value
—202311 December 2023—May 2026—not scorablecompleted
The Borden ComplexLong Island City, United States
Queens
industrial, mixed use—Six-story—USD 435m
construction loan
—20222022Jan 2024 – Dec 2024Jan 2025 – Dec 2025+12.0 mo
(+1.0 to +23.0)
estimatedcompleted
Yi Fung PlaceShanghai, China
Changning District
office, retail, mixed use—20 floors above ground and 4 basement floors; second building 6 floors above ground and 1 basement floor89,000 m²——20202020年9月21日Jan 2023 – Dec 2023Jan 2024 – Dec 2024+12.0 mo
(+1.0 to +23.0)
sourcedcompleted
AIRSIDEHong Kong, Hong Kong SAR China
Kai Tak Development Area
mixed use, office, retail—47-storey1,900,000 sq ftHKD 32bn
investment announced
—202016 June 2020Oct 2022 – Dec 2022Sep 2023+10.0 mo
(+9.0 to +11.0)
sourcedcompleted
1 Winthrop SquareBoston, United States
Financial District
office, other—6112,000 sq ft——2020March 03, 2020Jan 2021 – Apr 2021Jan 2023 – Dec 2023+28.0 mo
(+21.0 to +35.0)
sourcedcompleted
51 Sleeper StreetBoston, United States
Boston Seaport District
office, other—————2020March 2, 2020Jan 2021 – Apr 2021Nov 2022+20.5 mo
(+19.0 to +22.0)
estimatedcompleted
2505 Bruckner BoulevardNew York, United States
The Bronx
industrial——1.07 sq ft——2019between July and SeptemberJan 2021 – Dec 2021Jan 2022 – Dec 2022+12.0 mo
(+1.0 to +23.0)
sourcedcompleted
LP10Hong Kong, Hong Kong SAR China
Tseung Kwan O
residential for sale89312 residential blocks——5% + 5% + 90%1202122/01/2021Jul 2022Jan 2022−6.0 mo
(−6.0 to −6.0)
sourcedcompleted
LP6Hong Kong, Hong Kong SAR China
Tseung Kwan O
residential for sale2,392163——5%/5%/90%120188 September 2018Jan 2020 – Dec 2020Jan 2020 – Dec 20200.0 mo
(−11.0 to +11.0)
sourcedcompleted
Island GardenHong Kong, Hong Kong SAR China
Shau Kei Wan
residential for sale4701Towers 1, 2 and 3: 26 floors; Tower 5: 24 floors——5/5/901201627 Sep 2016Jul 2018Jul 20180.0 mo
(0.0 to 0.0)
sourcedcompleted
Click any row for the sources behind it. Cost basis matters: an estimated cost, a construction loan and a sale price are different numbers. Each row states which one it is, so they are never averaged together.

Awards

Awards & recognition

4 found
SUSTAINABILITY Winner Reported June 16, 2023
Sustainable Development of the Year – Hong Kong · AIRSIDE
Nan Fung Group won the Hong Kong category for the sustainable-development performance of its mixed-use commercial development AIRSIDE.
SUSTAINABILITY Winner May 10, 2024
Shared Value Program of the Year
Nan Fung Development Ltd won for its Net Positive Lease initiative, which uses tenant-landlord collaboration, incentives and carbon tracking to support tenants’ ESG objectives and reduce Scope 3 emissions.
Shared Value Awards / Shared Value Initiative Hong Kong · https://sharedvaluehk.org/annoucing-the-winners-of-shared-value-awards-2024/
RECOGNITION Winner October 29, 2024
Making Core Award
Nan Fung Group won the Making Core category for embedding social value into its culture, governance and business value chains.
SUSTAINABILITY Winner November 3, 2023
Green Building Award 2023 – Grand Award, New Buildings: Completed Projects – Commercial · AIRSIDE
AIRSIDE received the Grand Award in the commercial completed-projects category; Nan Fung’s awards record identifies AIRSIDE as its project and Nan Fung Development Limited as the developer associated with the recognition.
Hong Kong Green Building Council and Professional Green Building Council · https://gba2023.hkgbc.org.hk/winners

Risks

Auditor & credit ratings

2 agencies
AuditorPricewaterhouseCoopers
Moody’sBaa3
Standard & Poor’sBBB-

Risk flags

4 found
DELIVERY DELAY Original commitment published 10 May 2021; revised commitment published 12 May 2023.
Nan Fung’s own 10 May 2021 announcement said AIRSIDE would open in Q4 2022, but its 10 May 2023 announcement revised the planned soft opening to Q3 2023; this documents a delay in the developer’s stated opening timetable, not a claim that the project was abandoned or that the revised date was missed.
PROJECT CANCELLED 2016-10-19 publication; sale agreement announced 2016-10-18; project reportedly stalled for nearly four years before the sale
Nan Fung Group’s Wuxi Nanfeng Hui mixed-use project remained stalled for nearly four years after its 2012 groundbreaking, had not taken shape or obtained required construction approvals when the project company was sold in October 2016, and was transferred to a Green Land-linked buyer rather than completed by Nan Fung; this is a project-level finding and does not by itself establish wider parent liability.
PROJECT CANCELLED 2007 announcements; status reported retrospectively on 2023-07-14
Nan Fung China’s Beijing Xilai Plaza (One Square) project was announced as a major mixed-use development, but a 2023 retrospective reported that the project and the separately announced Beijing Financial Street No. 1 project stopped after their initial disclosures; the available evidence is historical and does not document a later restart or completion.
DELIVERY DELAY Expected completion: 2025 Q2; Nan Fung project page published 2024-11-19; research date 2026-10-12
Nan Fung Group’s Shanghai Waigaoqiao Nanfung Innovation Hub was publicly stated by Nan Fung to be expected to complete in 2025 Q2, but the available current-facing material retrieved for this review still describes the completion as an expectation and does not document actual completion; whether this constitutes a continuing delay as of 2026-10-12 remains uncertain because no authoritative completion or non-completion record was found.

Record status

active
Coverageactive
Tracked sinceOctober 11, 2026
Last checkedOctober 12, 2026 this month
Profile last researchedOctober 12, 2026
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For informational purposes only. This information is not investment, financial or credit advice and should not be relied on for investment, lending or credit decisions. Records may be incomplete or outdated. Verify information independently and seek qualified advice before making a decision.