About Rykadan Group

Group Profile

Rykadan began in 1986 as Sundart International, a leading fit-out contractor in Hong Kong and Macau. Achieving exceptional returns, we transitioned to project management, construction materials distribution, hospitality investment management and, finally, to real estate investment and development. Our legacy showcases in-depth knowledge and excellence in construction, property management and development—from the ground floor to the penthouse. This veteran experience gives us a competitive advantage in the market.

Rykadan is a leading international investment firm focused on sustainable, risk-adjusted returns that provide long-term capital growth for investors. With comprehensive real estate industry experience, we carefully execute underwriting, structuring and value-enhancing exit strategies with remunerative results. Our partner network has been meticulously cultivated for over a decade, allowing us to employ cost-effective and efficient property management and deal sourcing for our real estate investments. Our mission is to align our interests with yours by soundly investing capital into each vigilantly chosen fund that we steward.

Rykadan Capital Limited, through its affiliates, has two Real Estate Funds under management, launched in 2017 and 2018 respectively. In February 2020, Rykadan Capital Management Limited (RML) was granted Securities and Futures Commission (SFC) Asset management license (Type 4) and license (Type 9).

Our Core Competencies


Rykadan has undertaken 18 real estate development projects globally since 2010. Our portfolio includes multiple asset types, such as office, industrial, commercial and residential developments. The success of these projects has established us as industry leaders and reliable investment partners.


Rykadan has been the management partner for multiple successful investment funds. Our experience with a full range of asset management services relating to investment sourcing, acquisition structuring, disposition planning and entry and exit strategy has made us a force in the market.


Rykadan focuses its construction management expertise on creating value in property investments. With veteran talent and fastidious development tactics, we identify promising investment opportunities and manage and add value to these assets, resulting in high returns to stakeholders.

To broaden investor participation and fulfil our flexible investment strategies, we maintain and operate the Rykadan Real Estate Funds. Our private, closed-end funds accelerate our approach to realise investment opportunities. Rykadan currently manages two Real Estate Funds started in October 2017 and May 2018, respectively, with a total AUM of over USD $600M. These funds have focused on valuable redevelopment opportunities in Wong Chuk Hang (Hong Kong Island South) and Wan Chai.


Rykadan currently operates the Dhensa Boutique Resort in the heart of the tranquil Punakha Valley in Bhutan. Managed under Rykadan Hospitality Management, this sequestered property expands our portfolio into the lucrative luxury destination hospitality market.


Rykadan has invested in and exited several successful PE transactions, including seeding Kailong REI and buying a stake in a leading Italian composite stone company, Quarella S.p.A . (now Q.R.B.G. S.r.l.).


Rykadan Capital Limited was formerly known as Sundart International Holdings Limited, a leading, integrated fit-out contractor in Hong Kong and Macau.

Our Track Record


Chairman William Chan acquires Sundart, one of Hong Kong and Macau’s largest fitting-out contractors


The Main Board of The Hong Kong Stock Exchange lists Sundart (Stock Code: 2288)


Sundart acquires property located at Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong

Forms a strategic alliance with Kailong REI (Fund Management Business)


Introduces Secured Capital as a strategic partner and commences construction at Hoi Bun Road, Kwun Tong, Kowloon, Hong Kong (Rykadan Capital Tower)


Sundart is renamed Rykadan Capital Limited and transitions into an investment holding company

Sells majority stake in mature fitting-out business

Purchases land lot located at Kwun Chung Street, Tsim Sha Tsui, Kowloon, Hong Kong (The Paseo)

Acquires Kailong REI as a subsidiary

Acquires property located in Nanhui, Shanghai (Kailong Nanhui Business Park)


Rykadan acquires Dhensa Boutique Resorts in Bhutan

Completes Rykadan Capital Tower


Sells majority stake in Kailong REI

Initiates investments in US and UK development or refurbishment projects

Disposes remaining stake in fitting-out business


Pre-sale of first Hong Kong residential project, The Paseo

Acquires Maple Street Project (The Khora) & Wing Hong Street Project (The Agora)

Disposes of remaining stake in Kailong REI


Completes The Paseo, a 25-storey mixed real estate project

Pre-sale of The Agora


Rykadan’s first redevelopment fund, the Rykadan Real Estate Fund LP, closes at over USD 100 million.

Rykadan acquires Quarella, a leader in engineered stone manufacturing in Italy. This further exemplifies Rykadan’s visionary, synergistic investment approach.

Pre-sale of Khora


Completion of The Agora in Q4

Completion of The Khora in Q4

Launch of Rykadan’s Real Estate Prospect Fund LP


SFC Asset Management grants licenses (Type 4 & 9) to Rykadan Capital Management Limited.

Disposes of The Kailong Nanhui Business Park in Shanghai

Board of Director & Senior Management

Executive Directors

(Chairman & CEO)

Mr. Chan is the Executive Director, the Chief Executive Officer and Chairman of Rykadan Capital Limited. Mr. Chan also serves as the Chairman of the nomination committee. Mr. Chan joined the Group in 2008. He is primarily responsible for overall strategies, planning, business development and implementation of the strategies of the Group. He also holds other directorships in the Company’s subsidiaries. William graduated from the University of La Verne, California of the United States with a Bachelor of Business Administration degree in 2000 and a Masters of Business Administration degree in 2002. He was a director of the Tung Wah Group of Hospitals (2003/2004), a director of Yan Chai Hospital (35th Term Board of Directors (2002/2003)) and a committee member of the Central and Sai Ying Poon Area Committee of Home Affairs Department of the Hong Kong Government for two years ended 31 March 2006.

(Executive Director & CFO)

Mr. Lo is the Executive Director and Chief Financial Officer of Rykadan Capital Limited. Mr. Lo has joined us since 2012. He is responsible for overseeing the financial planning accounting, banking activities and compliance matters of the Group, managing new business unit growth and expanding different business. He also holds other directorships in the Company’s subsidiaries. Mr. Lo has over 15 years’ financial accounting experience in the field of building materials, property development and hospitality. Prior to joining us, he has worked in an international audit firm and held senior finance and management positions with a private company. Mr. Lo graduated from the University of Hong Kong with a Bachelor of Business Administration degree in 2005. He also graduated from The Hong Kong Polytechnic University in 2013 with a Masters of Corporate Finance. Mr. Lo is a member of the Hong Kong Institute of Certified Public Accountants.

Non- Executive Director

Mr. Ng is a non-executive Director of the Company. Mr. Ng graduated from the University of Calgary with a Bachelor of Science degree in civil engineering in 1978. Mr. Ng is currently an executive director and the Chief Executive Officer of Sundart Holdings Limited (stock code: 1568), the securities of which are listed on the main board of the Stock Exchange of Hong Kong.

Independent Non-Executive Directors

Mr. To was appointed as an Independent Non-executive Director of the Company in August 2009. Mr. To is also a member of the audit committee, nomination committee and the remuneration committee of the Company. He graduated from the University of London with a Bachelor of Laws degree in 1983. He has been a practicing solicitor of the High Court of Hong Kong since 1986. He is also qualified to practice law in England and Wales and Australia and is a China Appointed Attesting Officer. He is currently a partner of K.B. Chau & Co., a firm of solicitors in Hong Kong with his practice focusing on conveyancing, litigation and corporate finance. Mr. To is currently an independent non-executive director of Vision International Holdings Limited (stock code: 8107), the securities of which are listed on the GEM board of the Stock Exchange of Hong Kong.

Mr. Ho was appointed as an Independent Non-executive Director of the Company in February 2010. He also serves as the chairman of the audit committee and the remuneration committee and a member of the nomination committee of the Company. Mr. Ho has over 30 years of experience in accounting and auditing. Mr. Ho is a practicing certified public accountant in Hong Kong and is currently a director of Yong Zheng CPA Limited, Certified Public Accountants. Mr. Ho is also a director of the Hong Kong Commerce and Industry Associations Limited and the Hong Kong Shatin Industries and Commerce Association Limited. Mr. Ho is currently an independent non-executive director of each of Town Health International Medical Group Limited (stock code: 3886) and PuraPharm Corporation Limited (stock code: 1498), the securities of which are listed on the main board of the Stock Exchange of Hong Kong. Mr. Ho was also awarded the Medal of Honour on 1 July 2015 by the HKSAR.

Ms. Khan was appointed as an Independent Non-executive Director of the Company in August 2023. Ms. Khan is also a member of the audit committee and the remuneration committee of the Company. She has over 20 years of experience in finance and accounting. She currently serves as the Chief Financial Officer in a well-known appliances, electrical and electronic manufacturing company, Aurabeat Technology Limited, and as a financial consultant of Aptorum Group Limited, a clinical stage biopharmaceutical company listed on the NASDAQ (NASDAQ: APM). Ms. Khan was also the Chief Financial Officer and company secretary of Aptorum Group Limited from October 2017 to October 2022. Ms. Khan had worked in various international audit firms and held senior finance and management positions in various listed companies and private companies in different industries. Ms. Khan graduated from the University of Hong Kong in 2003 with a Bachelor of Business Administration degree in Accounting and Finance. She is a member of the Hong Kong Institute of Certified Public Accountant and was qualified as an Advanced China Certified Taxation Consultant in 2015.

Senior Management

(Financial Controller & Company Secretary)

Mr. Lui is the Financial Controller and the Company Secretary of Rykadan Capital Limited. Mr. Lui has joined us since 2014. He is responsible for overseeing the financial and accounting activities of the group. Mr. Lui has over 15 years of financial accounting and auditing experience. Prior to joining the Group, he had worked in an international audit firm. Mr. Lui holds a Bachelor of Commerce degree in Accounting and Finance from the Curtin University in 2004 and a Masters of Laws degree in International and Commercial Law from the University of Greenwich in 2009. He is also a member of the Hong Kong Institute of Certified Public Accountants and the Association of Chartered Certified Accountants.

(Director, Head of the Asset Management)

Mr. Leung is the Director of Investments and Head of Asset Management. He is responsible for management of the group’s investments including its sourcing, execution, and management. Mr. Leung has more than 17 years of experience in capital markets and asset management. Prior to joining Rykadan, he was a Vice President with Credit Suisse Japan in the Real Estate Finance & Securitization Group, first as the trader and financial engineer for the Commercial Mortgage Back Securities program and, later, as Asia head for the Wind Down Group. He began his career at Goldman Sachs in New York as an analyst and manager in Foreign Exchange Operations supporting the FX trading desk and later in Hong Kong, as an Executive Director in the Asia Special Situations Group which managed GS’s Asia Distressed Debt Fund and also the Fixed Income Division’s proprietary debt investments. He graduated from the University at Albany with a Bachelor of Science in Economics and a minor in Asian Studies.


(Managing Director, Investment)

Mr. Chan is the Responsible Officer and Managing Director of Rykadan Capital Management Limited (a Licensed Corporation of SFC) based in Hong Kong. Mr. Chan possesses over 30 years of experience in investment banking and asset management while covering Asia, United Kingdom and North America. Mr. Chan has managed product and industry groups for bulge-bracket, investment banks in Hong Kong and the United States focusing on technology and real estate M&A, acquisition financing, high-yield financing and loan syndication/acquisition. As a real estate private equity investor, Mr. Chan focused on equity and debt investments into commercial and residential projects in North America and the United Kingdom as well as distressed and special situation opportunities. Mr. Chan earned a B.A. in Economics with a minor in Finance from the University of Southern California. He is a member of the (ACAMS) Association of Certified Anti-Money Laundering Specialists, (ACFE) Association of Certified Fraud Examiners and (EAA) Estate Agents Authority.

Social Responsibility

“We believe that our social responsibility practices have benefited not only society, but also our group with respect to reducing our operational costs.”

“Social responsibility lifts society, enabling progress in so many facets of the world and its interlinked socio-economic streams. When we help others, we help ourselves, as the long-term effects of social investments have been proven to reduce long-term costs for large companies.”



Employees are, by far, the most valuable aspect of our company. We care about their development and growth with a sincere devotion to their health, happiness and well-being. To help our team to keep pace with accelerated learning and professional development demands of the modern workforce, we have maintained our Education Sponsorship and Allowance Program which ensures each employee is entitled to an annual sponsorship for their approved continued learning. We believe that through this educational program, our employees will equip themselves with the skills they need to perform their duties well, while increasing their own personal horizons with the best education available. Their education also contributes to the company’s success as a whole, and we are proud to encourage this culture of continued learning.

“Health is wellness of the mind, body and emotional state. We encourage and support health from all angles as it benefits everyone. By keeping our team happy, productive and strong—we make our company productive and strong too.

To ensure our employees’ physical, mental and emotional wellbeing remain paramount, we organise social events regularly. This promotes our belief in work-life balance, giving everyone an opportunity to relax, communicate and genuinely enjoy each other’s company. In addition, we ensure the office is meticulously cleaned and enhanced with the latest technology to keep everyone comfortable in their work stetting.



“The world is not a limitless resource. Conserving it benefits everyone.”

Over the past year, we have diligently pursued energy conservation and emission reductions in both our office and development practices. Our group is committed to maintaining sustainable working routines that ensure all resources are efficiently utilized. Our employees have also been encouraged to make recommendations to the company on ways to reduce waste and energy consumption. Green office practices are encouraged in the operation of our business, and include double-sided printing and copying, electronic document preference and switching off idle lighting and electrical appliances.



“Community is the cornerstone of resiliency.”

Giving back to the community is a cornerstone of our company philosophy. Over the past year, we have participated in numerous charitable activities and have provided aid to those in need. To support our chosen charitable organizations, we encourage and support our employees when they participate in charitable events.

Our team has

(i) participated in Seniors Day in support of Hope Worldwide to serve the elderly living in public housing

(ii) donated to and participated in the Go Fun FD Charity Run at Pak Shek Kok Promenade of Hong Kong Network for the Promotion of Inclusive Society Limited for the benefit of disabled people

(iii) made donations to Heep Hong Society for helping children with diverse needs.