Media365
A Singapore-rooted property family has put a rare residential estate in Hong Kong’s Southern district up for tender at about HK$300 million (US$38.4 million), testing demand for trophy homes as the city’s luxury housing market shows early signs of recovery despite soft prices.
The tender for Belvedere, a low-density compound in Chung Hom Kok, would close at noon on April 28, according to marketing agent JLL. The property had been held by Remadour Estate since 1993, Land Registry records showed.
Company filings showed the firm’s shareholders included Wah Ha Realty, Aik San Realty and E. Tung Construction. Directors included Cheung Kee Wee, Cheung Lin Wee and Eric Cheung Ying Wai, linking the ownership to branches of the Cheung family.
Completed in 1980, the estate sits on a 21,170 sq ft seafront site and comprises five two-storey houses with a combined gross floor area of about 15,750 sq ft. The compound includes 12 private parking spaces.
The property will be sold on an “as-is” basis and subject to existing tenancies or licences.
The Cheung family traces its wealth to Cheung Yik-chong, an entrepreneur who built a fortune in Singapore before World War II through jewellery trading and property investment.
