Family members and executives at Hong Kong property developer Great Eagle continue to snap up local residential units, as the city’s housing market sees improved investment sentiment amid market stabilisation.
Members of the family of Lo Ka-shui, chairman and managing director of Great Eagle, as well as executives of the company, jointly acquired six residential units on Hong Kong Island and in the New Territories this month for a combined total of HK$58.9 million (US$7.5 million).
Two units at Emperor Group’s MVP project in Mid-Levels were bought by Rising Dynamic and Rising Joyful for a total of HK$20.3 million, with the properties handed over on Wednesday, according to Land Registry records.
One of the properties, a 455 sq ft two-bedroom flat, sold for HK$10.2 million, or HK$22,508 per square foot.
Alexander Lo Chun-him, Kan Tak-kwong and Chiu Shik-pui appeared to be directors of both the buyer entities, according to the Companies Registry. All three are executive directors at Great Eagle, while Lo is also the son of Lo Ka-shui.
Another two units at the Villa Garda project in Lohas Park – jointly developed by Sino Land, MTR Corp, K Wah International, and China Merchants Land – were bought by the same individuals through the buyer entities including Rising Yield for HK$14.6 million. The units were handed over on Tuesday, according to Land Registry records.
