US government invites bids on six multibillion-dollar Hong Kong mansions, even as White House revokes city’s trade status
- The US government has engaged CBRE as the sales agent to invite for bids for a cluster of exclusive homes at 37 Shouson Hill Road, valued at between HK$3.1 billion and up to HK$5 billion
- The invitation for tender is the US government’s ongoing review of its overseas real estate holdings as part of its global reinvestment programme, the US Consulate General said in an email
The United States government is calling for bids on a cluster of residential properties in the world’s most expensive real estate market, even as Hong Kong is turning into the latest pawn in an escalating rivalry between the US and China.
A plot of land with six multistorey mansions located at 37 Shouson Hill Road near the city’s Ocean Park resort was put on the market this week. The six mansions, each with as many as 10 bedrooms, measure about 47,382 square feet (4,400 square metres) in total, according to a tender document seen by South China Morning Post.
The project offers breathtaking views of Deep Water Bay from a gated community accessible via a private driveway from Shouson Hill Road. A small swimming pool is shared by the two largest of the six houses, complete with a gazebo between them.
The entire project including the six houses is estimated at between HK$3.1 billion and up to HK$5 billion (US$645 million) according to valuers. That’s less than the HK$5.93 billion fetched in June 2018 at a neighbouring site of a comparable size, according to the tender document.
“The luxury housing market has cooled down over the past two years, and it takes longer time to sell high-end villas right now, which would make developers more cautious,” said Vincorn Consulting and Appraisal’s managing director Vincent Cheung.
The US government bought the land in June 1948 for an unknown price when Hong Kong was still a British colony, according to public records at the Land Registry. Construction on the site was completed in 1983.
