Nan Fung Group

What Nan Fung Group does

Nan Fung Group is a privately-held Hong Kong conglomerate founded in 1954, originally as Nan Fung Textile Limited, and now operating as a diversified property and investment group with over 65 years of operating history. The company manages 165+ projects spanning residential, commercial, retail, and mixed-use developments across Hong Kong, mainland China, the United Kingdom, and the United States, with 1,001-5,000 employees globally. Its core operations are organized into seven business segments: Property Development (flagship projects include AIRSIDE, a 1.9 million sq ft mixed-use development with HK$32 billion total investment), The Mills (a techstyle and cultural revitalization hub), Nan Fung Life Sciences (investment platform for therapeutics, medical devices, and diagnostics), Nan Fung Trinity (financial investments), Property Management (1,800+ staff managing 80+ projects and 32,000+ units), Property Construction (via Chun Yip and Bordon Construction), and Shipping (9 large oil tankers).

The company serves a diverse customer base including high-net-worth individuals seeking luxury residential properties (Mount Nicholson, 8 Deep Water Bay Drive), multinational corporations leasing Grade A office space (AIRSIDE, Nan Fung Tower, The Quayside with Link REIT), retail tenants, and life sciences companies. Revenue is generated through multiple streams: one-time property sales, recurring commercial leasing income, property management fees, construction services fees, life sciences investment returns, and shipping revenue. The business model is vertically integrated, with in-house construction capabilities, property management subsidiaries, and direct sales offices in Hong Kong. International expansion is executed through subsidiary platforms: Endurance Land (UK, acquired 2018) and NF International Real Estate (US, established 2019), plus the Innovo Property Group partnership for New York operations.

Technology utilization centers on Building Information Modeling (BIM) for design and construction management, smart building management systems in flagship developments, and sustainability features including LEED and WELL certifications. The company has differentiated through its SEWIT sustainability framework, generating HK$52.2 million in social value for FY2024/25 with a target of HK$100 million by 2030, making it the first Hong Kong property developer to set such a target. Capital is accessed through internal cash flows, bank financing (including a HK$1.5 billion sustainability-linked loan from DBS), and bond markets (USD 500 million sustainability bond issued 2026).

Name

Nan Fung Group

Legal name

Nan Fung International Holdings Limited

Website

https://nanfung.com

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Nan Fung Group is a privately-held Hong Kong conglomerate founded in 1954 that develops, owns, and manages residential, commercial, and mixed-use real estate across Hong Kong, China, UK, and US. It serves high-net-worth buyers, multinational corporate tenants, and life sciences investors through vertically integrated property, construction, and investment operations.

Ownership category

akta.pro rank

Headquarters

HQ city

Central

HQ country

Hong Kong SAR China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Infrastructure, Personnel, Supply Chain, Operations, Marketing or Sales, Technology or R&D

Revenue model

1. Property Development Sales: Primary revenue stream from selling residential, commercial and mixed-use developments. Revenue recognized upon property sales transactions. Major projects include residential developments (LP6, LP10, Mount Nicholson) and commercial properties (AIRSIDE, Nan Fung Place).
2. Commercial Property Leasing: Rental income from commercial properties including office towers, shopping malls and retail spaces. Includes properties in Hong Kong, China and internationally. Recurring revenue stream from long-term tenant leases.
3. Property Management Services: Property management services through subsidiaries including New Brook (C-381994), Man Leung (C-314914), Han Hing (C-024549), and Million Treasure Property Management (C-590461). Services include facilities management, maintenance, landscaping, sanitation, clubhouse management and security services.
4. Life Sciences Investment Platform: Investment returns from life sciences portfolio including therapeutics, medical devices and diagnostics across all development stages. Includes development of life sciences real estate facilities.
5. Construction Services: Construction services through licensed building companies including Chun Yip Construction (established 1985) and Bordon Construction. Services for residential, industrial/commercial projects.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Nan Fung Group is a vertically-integrated Hong Kong property conglomerate that develops, owns, and manages residential, commercial, retail, and mixed-use real estate across Hong Kong, mainland China, the UK, and the US. It also operates a life sciences investment platform, a financial investment management arm (Nan Fung Trinity), property management and construction services subsidiaries, and a shipping business with nine oil tankers. The group sells ultra-luxury residential units to high-net-worth buyers and leases Grade A office and retail space to corporate and institutional tenants.

Product overview

Nan Fung Group is a privately-held Hong Kong conglomerate with over 65 years of history, operating as a diversified property developer and investment group. The company offers a multi-segment portfolio spanning Property Development (residential, commercial, retail, and mixed-use properties across Hong Kong, mainland China, the UK, and US), Life Sciences investments, Financial Investments (via NF Trinity), Property Management services, Property Construction, and Shipping. Key products include flagship developments like AIRSIDE and The Mills revitalization project, the Nan Fung Life Sciences investment platform, and NF Trinity's investment management services. The group manages over 165 projects globally with operations in Hong Kong, China, UK, and US.

Differentiator

Problem solved

Functional benefit

Brands

• The Mills: A landmark revitalization project transforming former cotton mills into a techstyle, cultural and learning hub in Hong Kong, comprising The Mills, The Mills Fabrica (business incubator), and The Mills Shopfloor (experiential retail)
• Nan Fung Life Sciences
• Nan Fung Trinity
• Nan Fung Property Management
• Endurance Land
• NF International Real Estate
• AIRSIDE
• Nan Fung Shipping

Products and services

• AIRSIDE A flagship 1.9 million sq ft mixed-use commercial development in Hong Kong's Kai Tak Development Area (CBD 2.0) featuring 32-storey Grade A office space, 700,000 sq ft retail complex, and underground shopping street. Total investment of HKD 32 billion.
• The Mills A landmark revitalization of former cotton mills into a techstyle, cultural and learning hub in Hong Kong, comprising The Mills Fabrica (incubator/fund/space), The Mills Shopfloor (retail/maker culture), and the historic mill buildings.
• SH Waigaoqiao Nanfung Innovation Hub A 23,000 sq m life science R&D and manufacturing complex in Shanghai Free Trade Zone comprising three high-standard buildings with shared R&D platform 'NF Biotech Innovation Hive', targeting near-zero energy consumption.
• Nan Fung Life Sciences Investment platform covering therapeutics, medical devices and diagnostics across all development stages, uniting scientists, entrepreneurs, corporations and investors globally.
• Nan Fung Trinity (NF Trinity) Nan Fung Trinity (HK) Limited is the financial investment management arm focusing on listed securities, structured products, private direct investments, and private equity fund portfolios.
• Yi Fung Place A 90,000 sq m urban complex in Shanghai's Changning District integrating 50,000 sq m super-grade A office space with 6,000 sq m contemporary art exhibition space, achieving LEED & WELL double gold pre-certification.
• Nan Fung Property Management Professional property and facilities management services managing 80+ projects, 32,000+ units, 3 million+ sq ft gross floor area, and 1,800+ employees across residential, commercial, and industrial properties.
• Nan Fung Construction Licensed construction companies (Chun Yip Construction and Bordon Construction) with 33+ years of experience providing design-driven, quality-certified construction services using BIM technology.
• Nan Fung Shipping Nan Fung Shipping Limited operates 9 large oil tankers with 30+ years of experience in energy transportation, established in 1978.
• The Quayside Grade A office development in joint venture with Link Asset Management (Link REIT) comprising 2 Grade A office towers and retail podium in Kowloon Bay. Project embodies 'Smart City' concept with sustainable design, 3-metre ceilings, flexible floor plates, EV charging facilities, and state-of-the-art fittings.

Quantifiable outcome

• HK$52.2 million social value generated for FY2024/25
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• NF International Real EstatecoreOthers · 1 January 2026Subsidiary founded in 2019, headquartered in Boston, focused on acquiring, developing and managing life sciences-related properties in US innovation markets. Projects include 51 Sleeper Street (life sciences lab conversion) and 1 Winthrop Square.
• Endurance LandcoreChannel Partner/ Reseller/ Distributor · 1 January 2018Nan Fung acquired majority stake in Endurance Land in 2018 to enhance development capabilities and expand UK real estate business. Endurance Land specializes in refurbishment and redevelopment of buildings primarily in Greater London.
• Innovo Property Group (IPG)coreChannel Partner/ Reseller/ Distributor · 1 January 2015Partnership since 2015 for real estate investment and operations platform targeting Greater New York area. IPG team has 90+ years of combined real estate industry experience with strong relationships with local landowners, operators, brokers and capital partners.
• Shanghai Industrial Urban Development GroupcoreStrategic or Co-development Partner · 1 September 2014Joint venture partner for Shanghai Mart acquisition in September 2014, where Nan Fung acquired 49% of the project company. Shanghai Mart is the first permanent international trade mart in PRC and largest of its kind in Asia.
• Link Asset Management (Link REIT)coreStrategic or Co-development PartnerJoint venture with Link for The Quayside development - comprises 2 Grade A office towers and retail podium in Kowloon Bay. The project embodies 'Smart City' concept with sustainable design and EV charging facilities.
• Soho House Hong KongcoreStrategic or Co-development PartnerExclusive collaboration for Des Voeux West commercial project, integrating Soho House's premium facilities, private dining and events spaces across a 28-storey tower, including Soho Active gym and upcoming Soho Works co-working space.
• HKR InternationalminorStrategic or Co-development PartnerCo-development partner for La Cresta luxury residential project in Sha Tin Kau To, comprising 48 apartments and 13 garden houses.
• WPPcoreChannel Partner/ Reseller/ DistributorWPP Campus in Shanghai is a Grade A office building with 73,000 sq m occupied by WPP and subsidiaries as tenant. Located at Hengfeng Road in Jing An district, close to Shanghai railway station.

Scale indicators10 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Sun Hung Kai Properties: Hong Kong's largest property developer with diversified residential, commercial, and hotel portfolio. Most directly comparable peer given shared HK-centric focus, luxury residential positioning, and large-scale mixed-use development track record.
• New World Development: Hong Kong-headquartered diversified conglomerate with major property development, infrastructure, and services businesses. Comparable to Nan Fung in scale, vertical integration approach, and HK luxury residential positioning.
• Henderson Land Development: Major Hong Kong property developer focused on residential and commercial real estate. Comparable on HK luxury residential and Grade A office markets with significant land bank and development pipeline.
• Sino Group: Private Hong Kong property conglomerate (founded 1971) with luxury residential, commercial, and hospitality assets. Highly comparable given private family ownership structure and HK-centric luxury development focus.
• Swire Properties: Hong Kong-based property arm of Swire Group with premium Grade A office (Pacific Place, Taikoo Place) and luxury retail portfolios. Comparable on large-scale mixed-use development and long-term hold investment strategy.
• Hang Lung Properties: Hong Kong and mainland China luxury commercial and residential developer. Comparable in HK luxury positioning and dual HK/China geographic focus.
• Wheelock and Company: Hong Kong conglomerate with substantial property interests through Wharf Real Estate and other subsidiaries. Comparable diversified property conglomerate with HK focus.
• Hongkong Land: Major Asian commercial property investor and developer with HK Central portfolio and pan-Asia luxury retail/commercial exposure. Comparable on Grade A office investment and HK/Asia commercial real estate.
• Wharf Real Estate Investment Company: Hong Kong real estate investment company focused on investment property (Harbour City, Times Square). Comparable on Grade A commercial property ownership and long-term hold strategy.

Regional players

• CapitaLand: Singapore-based regional real estate group with diversified portfolio across Asia. Comparable diversified property developer/investor but primarily operates in different geographic markets (Singapore, China, India).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/nan-fung-property-management
• Xx.com/nanfunggroup

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries11 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments11 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nan Fung Group