Coporate Social Responsibility Of Leading Property Companies In Hong Kong

1647 words - 7 pages

Leading Property Companies in Hong Kong, such as San Hung Kai Properties and Henderson Land Development Comapny Ltd are one of the sectors that are most influencing and profitable in this city. Holding a majority of lands, buildings and much capital, these firms have been being a major concern of the public in regard of their influence on the society. In this essay, differnet views on the coporate social responsibility (CSR) are examinated and justified using the shareholders theory, stakeholders theory and Peter Drucker's view on CSR.

Background Information of Leading Property Companies

In general, the term leading property companies are often referred to the three largest proerty developers in Hong Kong, the San Hung Kai Properties (San Hung Kai) and Henderson Land Development Comapny Ltd (Henderson) and Chueng Kong Properties (Chueng Kong), which have seemingly achieved a dominance in both the property market and wealth rank among local enterprises. To be detail, San Hung Kai possess about
41.9 million undeveloped total gross floor area and 44 million developed or developing investment properties, while the those of Henderson are 19.8 million and 2.4 million. On the other hand, Cheung Kong holds 0.3 million developed investment propeties and unknown amount of undeveloped land. These three firms have made profits of HKD 11.5 billion, 8.94 billion and 26.478 billion respectively.

Companies' Actions Regarding CSR

Along with the huge profit gained recently, these firms have also recognized the recent trend of coporate social responsbility, and have taken related actions. For instance, San Hung Kai engages actively in green buildings, social well-being of its employees and sustaniable development. Specifically, it has established “Building Homes with Heart” Caring Initiative to provide assistance to household facing difficulties due to natural disasters. The other firm, Henderson, provide an immense support on the government's “Bless HK” Campaign by funding on various events of it. Moreover, it has initiated many projects of sustainable buildings, which have acieved excellent result in the HK BEAM award. On the other hand, Cheung Kong has been supporting numerous charities in Hong Kong, being the top3 donor Community Chest for 14 consecutive years. It also participates actively in
reducing energy use and carbon footprint for better environment.
Criticisms on These Companies Regarding CSR

Despite these social services in which the leading property companies participate, criticisms their commitment of coporatee social responsibility still rose. Instead of focusing on the environment and the underpreviledged as they have been doing, some people argue that these coporations have long ignored the needs of other citizens such as consumers of housing and shop units provided by these companies, and also developers of smaller size. One argues that they have indulged or even intetionally induced the rapid rise of shop rents and housing price,...

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