Born in Hong Kong, Raymond came to Canada to attend University in 1966. After receiving his Bachelor of Commerce degree, he completed his graduate degrees in M.A (Economics) and M.Sc. (Urban Land Economics) from UBC in the early 1970’s.

He worked for Daon Development Corp. in the later part of the 1970’s. He founded Vanac Development Corp in 1982, and has been the company’s President ever since. Between 1998 and 2005, he also served as President and CEO of Madison Pacific Properties Inc., a public commercial real estate company based in Vancouver, B.C.

Raymond is a past member of the Real Estate Institute of BC. He has been engaged in the acquisition, development and management of commercial real estate for close to forty years.

In 2024, Raymond received Doctor of Laws, honoris causa, from Capilano University.

Raymond and his wife Terry Heung, are Trustees of the Y. P. Heung Foundation.