The deal, which was announced on February 9, set a new record for the highest price-per-square-foot paid for a government-owned residential site in Hong Kong, according to the South China Morning Post. The price comes out to about $6,451 per square foot.
Victoria Peak, known as the Peak, is one of Hong Kong s most exclusive and expensive residential areas. The secluded neighborhood overlooking Hong Kong is home to financiers, business tycoons, celebrities, and billionaires.
The Peak is famous for its astronomical real-estate deals. In 2016, real-estate developer Chen Hongtian paid $270 million for a 9,212-square-foot mansion at 15 Gough Hill Road. In January 2017, iPhone screen manufacturing billionaire Yeung Kin-man paid $361 million for a 51,000-square-foot mansion on Pollock s Path. CY Leung, Hong Kong s chief executive from 2012 to 2017, lives in the neighborhood. And Alibaba founder Jack Ma was rumored to have bought a $191 million mansion in the Peak in 2015, but it s never b
A 1.25-acre plot of land in Hong Kong just sold for about $935 million, per Bloomberg. The sale set a record for the most ever paid for a government-owned