IVAN KO - Chairman
Ivan Ko is currently the Chairman of RECAS. He was the Founding Chairman and Chairman of China Real Estate Chamber of Commerce Hong Kong and International Chapter 2012 - 2018. He is the Co-Chairman of Burrell-RECAS Asia Limited LLC, a joint-venture set up with a US family office for development of projects in the US. Ivan was a member of the Advisory Committee of the Grand China Fund, which was a pioneer of private equity real estate fund in the Mainland China. He is also a Fellow Member of Royal Institute of Chartered Surveyors.
He has 25 years of real estate development and real estate finance experience in Hong Kong, China, Macau, US and UK. In the 90s, Ivan worked in a Hong Kong developer and managed several real estate development and land development projects in Beijing, among others, two office developments in Beijing Finance Street and a land development project on 2nd Ring Road East. Subsequently, Ivan was the Group Deputy General Manager of a listed Hong Kong developer Hing Kong Holdings Limited in charge of a portfolio of development projects and rental income properties in Hong Kong, a large residential development project in Beijing and a residential development project in Dalian.
Ivan was the Chairman and CEO of a mortgage service company – Advantage China Limited, he set up in JV with the International Finance Corporation (The World Bank), Deutsche Bank, Netherlands Development Finance Company (FMO) and another institutional investor. During that period, he helped the newly set up China Banking Regulatory Commission (CBRC) in standardization of residential mortgage application and underwriting process. Also, he was appointed by CBRC to draft the first “Real Estate Lending Guidelines for Commercial Banks” and was promulgated. He has made significant contributions to the policy exploration of asset securitization in China during that time.
Ivan also involved in establishing several real estate funds including the early stage of China Real Estate Elite Fund. He was later appointed the Managing Director and Head of Real Estate Asset Management of two listed financial institutions - SW Kingsway Capital Holdings Limited and Value Convergence Holdings Limited, in which, he set up real estate fund for the China and Macau market. These include a 50:50 JV with one of the most reputable Japanese Groups - Marubeni to co-own and co-asset manage a serviced apartment in Beijing and a 50:50 GP JV with Macqurie Capital for the Macau Property Development Fund in 2007-2008 .
Ivan set up his real estate service company in 2004 – Real Estate Capital Asset Services Limited which was later renamed as RECAS in 2009.
On public services, in the first few years of 2000, he was a Director of the Hong Kong Policy Research Institute for several years, a member of the Personal Data (Privacy) Advisory Committee in Hong Kong.
Ivan was the Founding Chairman of China Real Estate Chamber of Commerce Hong Kong and International Chapter 2002-2004 and was re-elected in 2012 and served as Chairman till 2018. He is now a member of the Board of a NGO Walk DVRC Ltd and a member of its Steering Committee. Ivan is also a Walking Expert of a Hong Kong think tank Civic Exchange.
Ivan started his real estate career with marketing of Beijing projects several years after he graduated with a business degree from Chinese University of Hong Kong. He later studied the Real Estate Development Master Degree course in University of Hong Kong. He also attended the Real Estate Finance Program of the Wharton School of University of Pennsylvania and a mortgage service course in the School of Mortgage Banking of America.
DANIEL LAM - Executive Director
Mr. Daniel Lam is currently an Executive Director of RECAS Strategic Development Investment Management Limited. He is an expert in property development and construction, specialized in urban renewal and developments above railway stations and depots, and is a practicing arbitrator.
Daniel’s experience extends beyond Hong Kong. For a considerable period of time he had also been responsible for projects in major overseas cities and countries including London, Tokyo, New York, Paris, Frankfurt, Malaysia, Singapore, Indonesia. Daniel started his work at the Hong Kong Land Group, then Hong Kong Government, the Hong Kong Bank (HSBC) Group, the Sime Darby Group and China Light & Power Group, before setting up his own practice, DCL Consultants Ltd. in 1993, until 2000 when he left to join Kowloon-Canton Railway Corporation.
Owing to Mr. Lam’s involvement with the World Bank and as the Executive Director of Tian An China Investment Company Limited (1993-1996) , he is familiar with project development issue in Mainland China. In 1997-2015 Daniel was appointed an independent non-executive director to the Hong Kong publicly listed Minmetals Land Limited of China’s Minmetals Group. He is also the overseas consultant to the Shanghai City Development Law Firm. In 2000, Daniel joined the Kowloon-Canton Railway Corporation as its Director, to plan and direct all property development projects, as well as operating a sizeable leasing, licensing, advertising and property management portfolio. The total gross development value of projects then is HK$190 Billion (US$24.4 Billion), and the total value of the managed investments is HK$11.3 Billion (US$1.45 Billion), as at the end of May 2007. He left the Corporation in December 2007. In 2008-2015, he was appointed an Independent Non-Executive Director of the Hong Kong Urban Renewal Authority. In 2015-2016 he was appointed the Managing Director, responsible for a portfolio of an asset value of $30 billion plus an ambitious program of urban renewal projects.
In December 2016, he has been appointed as a Board Member of the Hospital Authority. Daniel was the President of the Hong Kong Institute of Surveyors in 1986-1987. Because of Mr. Lam’s professional knowledge and interest in arbitration, he has been appointed as arbitrator in a number of cases. He is a Council member of the Hong Kong International Arbitration Centre since 1993, Chairman of its Mediators Accreditation Committee (2002-2006); and the Founding Chairman of the Hong Kong Institute of Arbitrators (1997-2000). He is a Chartered Arbitrator, and listed on the London Panel of Arbitrators of the Chartered Institute of Arbitrators. He is also listed on similar panels in Hong Kong and Vcouver, and is appointed as Arbitrator to the China International Economic Trade Arbitration Commission, the Beijing Arbitration Commission (1998-2012) and the South China International Economic and Trade Arbitration Commission (2012-now).
His professional and public service include serving as a member of the Land & Building Advisory Committee (1986- 1990), Hong Kong Housing Authority (1993-2001) and Chairman of its Building Committee (1996-2001), and member of the Construction Industry Review Committee. During 1991- 1993, he was appointed as a consultant to the World Bank, Washington DC, and contributed to a report on China’s urban land policy.In 1995 Daniel was appointed as Non-Official Justice of Peace, in 2001 he was awarded the Bronze Bauhinia Star, and in 2016 awarded the Silver Bauhinia Star.
He was Chairman of the Surveying Department’s Advisory Committee of the University of Hong Kong (HKU) from 1986 -1991, External Examiner of HKU’s Real Estate & Construction Department from 1995-1998, and appointed as its Honorary Professor for the terms of 2006-2011. In July 2003, the HKU School of Professional and Continuing Education appointed Daniel as Adjunct Professor. He was appointed as member of the Department of Building and Construction Advisory Committee, City University of Hong Kong, in 1994 and the Chairman during 1997-1998.
SAMUEL LAI - Executive Director
Mr. Samuel Lai is an Executive Director of RECAS Strategic Development Investment Management Limited. Samuel has worked for Kowloon-Canton Railway Corporation (KCRC) for 23 years. From 2004-2006 he was the Chief Executive Officer (Acting) of KCRC. KCRC was a public corporation providing high quality mass transport services in Hong Kong, and through train services to and from Guangzhou, Shanghai and Beijing. KCRC also designed and built new railways, and was active in property development and related commercial property business. As the CEO, Samuel was the only Executive Director of the KCRC Board, and was responsible for managing every aspect of the KCRC business.
In 2006, under his management, there were 3 major rail lines running and a light-rail line, servicing over 1 million 500 hundred passengers per day, worth an equivalent of HK$88 billion in total asset and over 6000 employees. At that time, over 760,000 sq. m. of gross floor area of residential property had been developed, another 720,000 sq. m. of residential gross floor area was under development, and 13 development sites with a total site area of over 550,000 sq. m. were under planning. KCRC also owned and directly managed 158,000 sq. m. of commercial property.
Prior to becoming the CEO, Samuel was the Finance Director (1991-1995, 1997-1999), East Rail Director (1996), and Senior Director of Finance and Management (2000 to-2003). During his tenure as Finance Director, he managed to raise for the company more than HK$ 25 billion (equivalent) in loans and facilities, in overseas and local capital markets.
Samuel had also been involved in various community services. He was a Council Member of the Hong Kong Management Association and Chairman of its Membership Committee, Vice-Chairman of the International Association of Public Transport’s Asia Pacific Division, and a member of the Corruption Prevention Advisory Committee of Hong Kong’s Independent Commission Against Corruption.
He obtained a Bachelor degree in Industrial Engineering at Columbia University, New York, USA (1973), and a MBA degree at New York University (1977) and became a Certified General Accountant of Canada (1991). Currently, he is the Chairman of TRaiNX Charity Foundation in Hong Kong. He worked in United Nations Children’s Fund for five years before returning to Hong Kong in 1978.
Samuel’s specific experience included managing the planning, construction and commissioning of West Rail, Phase I, a 35 Km mass transit commuter rail system with 9 stations, costing HK$ 52 billion (US$6.7 billion equivalent). Above 8 of the stations and the Maintenance Centre were over 2 million sq. m. of gross floor area in real estate developments with major public transport interchanges. West Rail was completed and operational in December 2003.
He also managed the planning, construction and commissioning of Ma On Shan Rail, an 11 Km medium size passenger railway with 9 stations, costing HK$10 billion (US$1.3 billion equivalent). About 830,000 sq. m. of gross floor area were built on 4 sites along the line, 3 of them had public transport interchange. Ma On Shan Rail was operational in December 2004.
In addition, he managed the planning, construction and commissioning of the railway extension from Hung Hom Station to Tsim Sha Tsui Station. The HK$4 billion (US$510 million equivalent) extension began in 2001, and was open in October 2004. From 2002-2006, he managed the planning and construction of the 7 Km Lok Ma Chau Spur Line, which extends an existing line to a new border control point, which includes a four story terminal building with customs and immigration facility.