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Peggy Ye

A duplex penthouse at Kerry Properties’ Mont Verra development in Beacon Hill, Kowloon Tong, sold for HK$250 million (US$32.1 million) last month, as wealthy mainland Chinese buyers continued to snap up luxury homes in Hong Kong at softer prices.
The buyer is linked to one of the wealthiest families in Anhui, an inland province in eastern China.
According to a filing, the unit was sold on November 7 and registered with the Land Registry on December 5 under the names of Wu Weidong and his wife, Pan Junfang, for the full HK$250 million consideration.
Wu is the son of Wu Xushun, whose family topped the 2017 Hurun Rich List for Anhui province with an estimated fortune of 13.5 billion yuan (US$1.9 billion).
The tender sale was for a 4,378 sq ft unit on the sixth floor of Tower 5 – a four-bedroom, all-en suite flat with two helper rooms and parking spaces. It fetched HK$57,107 per square foot, according to Midland Realty.
The Wu family built its wealth through auto-parts maker Wuhu Shunrong Auto Parts, founded in 1995, before expanding into online gaming after acquiring a controlling stake in Shenzhen-listed 37 Interactive Entertainment Network Technology Group in 2013.
The company has since grown into one of China’s largest game developers and operators. The family has been gradually selling down its holdings in 37 Interactive in recent years; Wu Weidong held a 1.9 per cent stake as of the company’s 2025 interim report.
The Mont Verra sale is among the largest transactions at the luxury project this year and comes amid a flurry of high-end deals involving mainland and hedge-fund money.
Last month, a buyer bearing the same name as veteran stock investor Xu Liusheng bought a luxury home in Deep Water Bay for HK$342 million.
Also in November, Matrix Properties, a company associated with Vincent Gao Leyi, founder of Hong Kong-based hedge fund CoreView Capital, took possession of a 9,414 sq ft six-bedroom unit at the upscale No 15 Shouson Hill development in the Southern district, according to Land Registry documents.
Another sale at Kerry Properties’ Mont Verra was recorded on Sunday for HK$225 million, following a HK$192 million transaction reported on Friday by Chinese media.
“The luxury segment for homes priced above HK$30 million will continue to see solid support from strong IPO activity, expectations of rate cuts and tight supply heading into 2026,” said Ada Yeung, chief district sales director at Midland Realty.
“If people continue to cash out gains from the stock market, that could push first-hand luxury prices up another 10 per cent to 15 per cent.”
Separately, 37 Interactive Entertainment – founded in 2011 and brought to the Shenzhen Stock Exchange in 2014 through a major asset restructuring – disclosed last week that it had received administrative penalties from China’s securities regulator over historical information-disclosure issues.
Its shares closed at 20.20 yuan on Monday, giving the company a market capitalisation of 45.48 billion yuan.


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Property

A scion of one of Anhui’s wealthiest families has paid HK$250 million for a duplex at the Mont Verra development in Kowloon Tong


A scion of one of Anhui’s wealthiest families has paid HK$250 million for a duplex at the Mont Verra development in Kowloon Tong.


Hong Kong

China

Midland Realty

Kerry Properties

Mainland China tycoon pays US$32.1 million for Hong Kong penthouse as luxury deals pick up

.css-1c6uqr6{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;overflow-wrap:break-word;}A scion of one of Anhui’s wealthiest families has paid HK$250 million for a duplex at the Mont Verra development in Kowloon Tong

A scion of one of Anhui’s wealthiest families has paid HK$250 million for a duplex at the Mont Verra development in Kowloon Tong