China Overseas Building Development Company Limited, a wholly owned subsidiary of China State Construction Engineering Corporation, was incorporated in Hong Kong in 1979. Its office was located in Fung Lok Building, Sheung Wan.

Hong Lok Yuen Phase I is the 1st private residential project the Company obtained in Hong Kong.

In 1981, the Company obtained 5 most high grade construction licences in Hong Kong, which created favorable condition for bidding for large-scale government projects in future.

During this period, the Company received a project from Hong Kong Housing Authority (HKHA) for the first time, Tai Wo Hau Estate Phase II. Besides, the Company also participated in the first batch of "Private Sector Participation Scheme" (PSPS) of HKHA and successfully won the contract of Tai Wai Holford Garden.

For civil projects, the Company was awarded Muk Wu - Tai Lam Chung Aqueduct project by Public Works Bureau, which supplied 70% of Hong Kong's daily water consumption . A "Renowned Far and Near" banner was presented to the Company by the Water Supplies Department (WSD).

At this beginning stage, the Company was in the groping period when both management and operation style were not mature enough to compete in Local market. 25 building projects were completed in 7 years' time, with contract value amounting HK$ 1,490 million. 14 civil projects with the contract value of HK$ 790 million were undertaken.