One of the most high-profile figures in Asia's real estate and investment world is standing down from his chairmanship and managing director roles.

One of the most renowned figures in Asia’s investment world, Lee Shau-kee, has stepped down as the chairman and managing director of Henderson Investment. His younger son, Martin Lee-Ka-shing, has taken up the roles he vacates, media reports said.

Martin Lee, a billionaire, was previously vice chairman of the group; he took over as chairman of Miramar Hotel and Investment last year.