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Salina Li

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.
One of the units was a HK$7.3 million 451 sq ft two-bedroom flat, costing HK$16,146 per square foot.
Earlier this month, the same group of buyers also bought two 773 sq ft three-bedroom units at Grand Mayfair II in Kam Tin South, developed by China Overseas, Sino Land and K Wah, for a total of HK$24 million through Rising Thrive and Rising Xenon.
The Lo family has also bought multiple units at Deep Water Pavilia, a development led by MTR Corp and New World Development, according to agents.
The transactions come as the city’s property market is improving, with both transaction numbers and home prices trending up.
In the first three quarters of the year, 15,000 first-hand property deals worth a combined HK$157 billion were transacted, Centaline Property Agency said in a report on Wednesday. The volume represented 88.5 per cent of last year’s total, while the value was 75.4 per cent of last year’s.
Centaline forecast that total new home sales this year could reach about 20,000 units, up nearly 20 per cent from 2024 and the highest since 2019.
Hong Kong’s lived-in home prices recorded a modest gain for the fifth straight month, rising 0.14 per cent in August and narrowing this year’s price decline to 0.24 per cent, according to the Rating and Valuation Department. Since April, the city’s home prices have increased 1.26 per cent.
Separately, residential rents climbed in August, nearing a record high. The official rental index jumped 1.12 per cent – the largest increase in 14 months – to 198.7, just 1.4 points shy of the peak of 200.1 recorded in August 2019.


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Hong Kong

Great Eagle insiders snap up 6 Hong Kong flats for US$7.5 million amid improving market

The MVP project in Mid-Levels, where buyers associated with Great Eagle bought two units. Photo: Handout

Lo Ka-shui, chairman of Great Eagle, seen at his office in Wan Chai on July 16, 2019. Photo: May Tse

Grand Mayfair III sells all units amid stabilising Hong Kong property market

Potential buyers wait to buy flats in the Grand Mayfair III residential development in Yuen Long on Monday. Photo: Handout

A rendering of the Grand Mayfair II project. Photo: Handout

Sino Land chairman Daryl Ng sees positive signs for Hong Kong’s property market

Daryl Ng Win Kong, chairman of Sino Land, speaks to the media after the company’s annual general meeting on Wednesday. Photo: Handout

Sino Land’s One Park Place residential project is coming up in Yau Tong. Photo: Google Maps

Property

Business

Hong Kong & China

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


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.


Great Eagle insiders snap up 6 Hong Kong flats for US$7.5 million amid improving market

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}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

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