Hong Kong Business : Directory

The corporate site for Chinese Estates Holdings provides a background for the Group. Joseph Lau established the organization that would become Chinese Estates Holdings, an organization that primarily deals in property investment and development, property management, brokerages, securities investment, and money lending.

Danwei, a site about media, advertising, and urban life in China has published an article about Joseph Lau's purchase of Warhol's Mao. Lau paid 17.4 million USD for the painting at a New York auction.

The Standard, China's business newspaper, has published an article offering additional background information about Joseph Lau and his purchase of Warhol's Mao. The price Lau paid is the largest amount recorded for any of Warhol's works.

The corporate website for Lifestyle International provides information about Joseph Lau's educational and professional background. Lau serves as non-executive director for Lifestyle International, the retailer who also owns the department store SOGO.

The Standard reports that Joseph Lau's Chinese Estates Holdings has tapped the convertible bond market because interest rates are close to record lows. Chinese Estates Holdings plans to use the HK 1.5 billion, zero-coupon, five year bond arranged by Deutsch Bank capital for land grabs and real estate development.

The Standard reports that the HK 1.6 billion Macau apartment complex is starting to pay off for Chinese Estate Holdings, according to CEO Joseph Lau. Chinese Estates Holdings has already booked HK 1.9 billion in Hong Kong home sales as of January 11, 2006.

Chinese Estate Holdings plans to list a real estate investment trust (REIT) on the Hong Kong stock exchange. This REIT will consist of commercial properties, but details such as the number of properties or which properties are unavailable.

Macau Business reports that Chinese Estates Holdings, run by Joseph Lau, expects to raise HK 5 billion through a REIT, one holding anywhere from HK 8 billion to HK 15 billion of property. This REIT would provide investors with a potential yield as high as five percent annually, depending on interest rates.