Andy Lau, Michelle Reis, and More: A Glimpse into High-Profile Real Estate Deals in Hong Kong
Andy Lau, Michelle Reis, and Kelly Chen: Celebrities Reflecting Hong Kong’s Luxury Market
The acquisition by Bob Prince, the co-chief investment officer of the world’s largest hedge fund, Bridgewater Associates, of a luxury home in Hong Kong is capturing attention. The HK$95 million (US$12.2 million) purchase for a 1,752 sq ft three-bedroom flat at St. George’s Mansions symbolizes a growing trend where top global financiers are settling in Asia’s bustling capital market.
Hong Kong’s Luxury Property Market Shows Robust Growth
Prince, who oversees US$100 billion in assets, views the purchase as a strategic investment amidst decreasing property prices. Notably, Kadoorie Hill in Ho Man Tin, where he purchased the flat, is a luxurious neighborhood housing celebrities and elite residents. This promising area has recorded a substantial sales volume, reflecting ongoing demand.
- Kadoorie Avenue's unique position in the city makes it attractive for investors.
- Purchasers like Nicholas Moreau, CEO of HSBC Global Asset Management, also joined the elite circle by buying a HK$50 million luxury flat nearby.
- Chris Gradel of PAG, another prominent figure, acquired the historic Villa Ellenbud for HK$550 million.
With the Hong Kong government initiating a cash-for-residency program to entice wealthy investors, Prince's move is indicative of a broader trend where luxury clients are opting to establish roots in Hong Kong. The pull of the city's dynamic market and its strategic location in Asia cannot be overstated.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.