George Hongchoy to Step Down as CEO of Asia’s Largest REIT After 16 Years
George Hongchoy, the head of Link Asset Management Ltd., the manager of Asia’s largest real estate investment trust, plans to retire after a successful 16-year tenure. During his leadership, the LINK REIT has more than doubled the Hang Seng Index, returning 10.2% annually including dividends.
ReitReal EstateGeorge HongchoyLink Asset ManagementLink ReitReal Estate NewsJul 22, 2025
Hongchoy, a former investment banker, joined Link in 2009 as the Chief Financial Officer (CFO) and moved to the top job the following year. Under his leadership, Link REIT has managed to grow its assets to HK$226 billion ($29 billion), spanning retail, office, and logistics sectors, according to the company’s website.
During his tenure, the LINK REIT has significantly outperformed the market, returning 10.2% annually, including dividends, compared to a 5% annual gain for the Hang Seng Index. This performance highlights the robust growth and strategic direction Hongchoy has provided to the company.
One of the key achievements under Hongchoy’s leadership has been the diversification of Link’s portfolio. Initially, the portfolio primarily consisted of low-end neighborhood malls in Hong Kong. However, it has now expanded to include office buildings and shopping malls in mainland China, Australia, Singapore, and the UK. This diversification has not only increased the company’s resilience but also enhanced its market position.
Hongchoy has been one of the highest-paid executives in Hong Kong, with an annual pay of HK$70 million. His compensation reflects the significant value he has brought to the company and its stakeholders.
In addition to expanding the REIT’s portfolio, Link has also ventured into fund management. The company hired John Saunders, the former head of Asia-Pacific real estate at BlackRock Inc., last year to lead the operation known as Link Real Estate Partners. This move underscores the company’s commitment to growing and diversifying its investment platform.
Duncan Owen, the chair of Link, commented on Hongchoy’s retirement, stating, 'In a challenging market, Link’s continued resilience shows the underlying strength of the business. We have good momentum in our efforts to grow and diversify our investment platform with the recent launch of Link Real Estate Partners.'
Link Asset Management Ltd. is a prominent player in the real estate sector, known for its strategic investments and strong financial performance. The company’s success under Hongchoy’s leadership has set a high standard for its future direction and growth.
As the search for a new CEO begins, the company is well-positioned to continue its trajectory of success and innovation in the real estate market.
Frequently Asked Questions
Who is George Hongchoy?
George Hongchoy is the head of Link Asset Management Ltd., the manager of Asia’s largest real estate investment trust. He is a former investment banker who joined Link in 2009 as CFO and became CEO in 2010.
What is Link REIT?
Link REIT is Asia’s largest real estate investment trust, managed by Link Asset Management Ltd. It has a portfolio of assets valued at HK$226 billion, spanning retail, office, and logistics sectors.
What are some key achievements of George Hongchoy during his tenure?
Under George Hongchoy’s leadership, Link REIT has more than doubled the Hang Seng Index, returning 10.2% annually including dividends. He also diversified the portfolio to include properties in mainland China, Australia, Singapore, and the UK.
What is Link Real Estate Partners?
Link Real Estate Partners is a fund management operation launched by Link Asset Management Ltd. It is led by John Saunders, the former head of Asia-Pacific real estate at BlackRock Inc.
What is the future outlook for Link Asset Management Ltd.?
The future outlook for Link Asset Management Ltd. is positive, with a focus on continued growth and diversification. The company plans to build on the momentum established under George Hongchoy’s leadership.
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