Letter from Chairman

This year will be remembered in history.

Year 2021 marks the centenary of the Communist Party of China (“CPC”) and the commencement of the 14^th Five-Year Plan (14^th FYP). What China has achieved in this year is more than just a conclusion to a century’s journey; more importantly, we have showcased to the world the character of a nation that emerges from hurdles and difficult times to stand tall and strong.

In February 2021, China announces the eradication of absolute poverty in the nation in fulfilment of the goal of “building a moderately prosperous society” according to the targeted timeline. At a time when the world was battling the COVID-19 pandemic and the economic fluctuations brought about thereby, China was rising on a solid foundation. We have experienced enormous changes over the years and forged through our way with immense effort. Our nation is not only leading the world in its pace of economic recovery to become an important engine driving global economic growth; as stated in the preamble to the 14^th FYP, China must ride the trend to achieve further progress ─ we should set sight on the future from a strategic long-term perspective, accommodating, seizing and directing the new normal economy to construct a new landscape for development. From quantitative growth to qualitative development, healthy structure and sustainability, the new development philosophy set out in the 14^th FYP has impressed international leaders across the globe. Today, China is on par with the international community thanks to our century-long fight in united effort under the leadership of the CPC.

This year, K. Wah Group has also achieved numerous milestones and emerged stronger amidst challenges. We celebrated the 10^th anniversary of Galaxy Macau™. GEG, as the operator of this world-class luxury integrated resort, witnessed the gradual transformation of Macau into a destination for tourism and leisure over the past decade. At this meaningful time, GEG shared the joyous occasion with the community stakeholders through a range of charity events, mindful of its duty to reward the society and in an active bid to fulfil its corporate social responsibility and commitment to the development and progress of Macau as a whole. The development of Cotai Phases III and IV is progressing well. With the introduction of Raffles at Galaxy Macau and Andaz Macau as well as the completion of Galaxy International Convention Centre in future, Galaxy Macau will add new driving force to Macau’s vision of becoming a World Centre of Tourism and Leisure, as it looks forward to another decade of splendour and magnificence.

KWIH, meanwhile, will celebrate the 30^th anniversary of its Mainland operations. Starting with the development in the 1990s of Parkview Palace, a revitalised neighbourhood in Yuexiu District, Guangzhou, KWIH has since established itself as one of the leading developers in the Mainland with a strong presence in the Yangtze River Delta and the Greater Bay Area regions on the back of its brand reputation for impeccable quality. We are developing a mega integrated project located at P20, Hexi New Town, Jianye District, Nanjing, comprising residential units, apartments, hotel, offices and commercial facilities, and foundation work for the residential site has commenced in September. Its epoch planning will drive transformation of the face and boundaries of Nanjing and hopefully provide a reference point to the city’s development in the next 30 years.

A nation is formed by families. As our nation embraces a whole new era with the 14^th FYP, K. Wah Group will be tracking in close tandem with national policies and procuring home improvements for tens of thousands of Chinese families by seizing opportunities in the Yangtze River Delta and GBA regions.

Dr Lui Che-woo GBS, MBE, JP, LLD, DSSc, DBA,
Chairman and Founder of K. Wah Group