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Hong Kong parking spot sells for R17.6 million, setting record


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Hong Kong s property market is breaking yet another record. Wharf Holdings and Nan Fung Group sold a parking space for $1.3 million (around R17.6 million) at the luxury Mount Nicholson residential project, according to a person familiar with the matter who asked not be named discussing private deals. The price beat the previous record of R13.2 million for a spot in an office tower set in 2019.
A Wharf representative said the company didn t have further information to provide on the sale. Hong Kong Economic Times reported on the sale of the parking spot earlier.
Hong Kong s luxury home market has seen record-breaking transactions as buyers confidence comes back. A house on the Peak, a luxury residential area on Hong Kong Island which overlooks the city, rented for a record R2.8 million a month in May. ....

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How a Chinese billionaire family is quietly expanding its empire in HK


How a Chinese billionaire family is quietly expanding its empire in HK
Apr 11, 2021 – 4.55pm
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A mainland Chinese property family is quietly building a presence in Hong Kong by snapping up land plots and even a prominent newspaper.
Shenzhen-based Kaisa Group Holdings’ Kwok Yung Shing has become one of the most active Chinese tycoons in Hong Kong with a flurry of new purchases. His moves underscore Chinese elites’ growing influence in the former British colony as its status as a global financial hub shows signs of waning.
Kwok Ying Shing, chairman and co-founder of Kaisa Group Holdings, in Hong Kong in 2019.  ....

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