Hong Kong billionaire Payson Cha, the developer behind the residential community at Discovery Bay and a handful of theme parks, died over the weekend after a long fight with pancreatic cancer.
The 77-year old chairperson of Mingly Corporation, HKR International and Hanison Construction died in California on Nov. 6, according to a statement made by HKR International on Monday.
"[He made] tremendous contributions to the development of tourism and the economy in Hong Kong over the years," city leader Carrie Lam said Monday, noting that Cha served as chairperson of Ocean Park, a nautical-themed amusement park in Hong Kong, and also oversaw the development of the city's DisneyLand Resort.
The tycoon comes from an entrepreneurial family. Fleeing Shanghai at the end of World War Two, Cha's father settled in Hong Kong and opened a textile business before branching out into real estate development.
In the 1970s, father and son bought up tracts of barren land on a small island located a 30-minute ferry ride from the city's central business district - the island now boasts a resort-style development known as Discovery Bay with more than 20,000 residents.
The Cha family was valued at more than $2 billion as of 2018, earning a spot on Forbes' Rich List that year, but for the most part maintains a low profile.
Other prominent family members include Cha's brother Victor and sister-in-law Laura, who serve as deputy chairperson at HKR International and chairperson of the Hong Kong Stock Exchange, respectively.
Cha maintained close ties to the Chinese Communist Party throughout his life and served on the country's Political Consultative Conference for two decades.
