Henry Tang’s son buys 2 flats in Wheelock’s Kadoorie Hill in boost to property market
The flats, worth a combined US$9.4 million, were sold to entities linked to William Harry Tang, the son of ex-finance minister Henry Tang
The son of former financial secretary Henry Tang Ying-yen has bought property in Kowloon, joining a growing number of affluent buyers snapping up homes in Hong Kong amid improving confidence in the residential market.
Two connected units at Wheelock Properties’ Kadoorie Hill luxury project were sold for HK$36.4 million (US$4.7 million) each and handed over on October 3, according to the Land Registry. The flats were bought through two entities, Jumbo Bridge and Risking Sky. William Harry Tang Jiasheng, the son of former finance minister Henry Tang, is connected to the transactions as he is a director of both companies, according to the Companies Registry.
The two units with a combined area of 2,912 sq ft have eight bedrooms and two parking spaces. The transacted price was about HK$25,000 per square foot, according to agents.
The property market has seen some increased activity recently, with three major transactions in the last two weeks, reflecting growing confidence.
On Saturday, Hysan Development sold three units at its Bamboo Grove luxury complex in Mid-Levels for a total of HK$133 million, two of which were bought by the company chairwoman Irene Lee Yun-lien’s son, Nicolas Hugh Ingram, while the third was acquired by the wife of non-executive director Lee Chien.
Ingram bought two units, measuring 1,451 sq ft and 1,503 sq ft, for HK$77.23 million, or about HK$26,000 per square foot.