Hong Kong Smartphone Screen Glass-Maker BIEL Crystal Manufactory Founder & Chairman Yeung Kin-man Buys 4 Hong Kong Mansions on The Peak for $140 Million from Ho Shung-pun Family, 4 Townhouses A, B, C & D at No 46 Plantation Road Bought under Grand Tai Enterprises (HK) Development with Yeung Kin-man & Wife Lam Wai-ying Listed as Shareholders, Family Fortune of $5 Billion
2nd August 2024 | Hong Kong
Hong Kong smartphone screen glass-maker BIEL Crystal Manufactory founder & Chairman Yeung Kin-man has bought 4 Hong Kong mansions on The Peak for $140 million (HKD 1.1 billion) from Ho Shung-pun family, buying 4 townhouses A, B, C & D at No 46 Plantation Road under Grand Tai Enterprises (HK) Development with Yeung Kin-man & his wife Lam Wai-ying listed as shareholders. Yeung Kin-man & his wife Lam Wai-ying has a family fortune of around $5 billion. Earlier in 2024 July, Hong Kong Ho Shung-pun family was reported to have sold 4 houses at The Peak for $140 million (HKD 1.1 billion), with the 4 town houses (Unit A, B, C & D) at 46 Plantation Road. The $140 million proceeds have been reported to be used to repay $204 million of private loan to private equity firm Gaw Capital. Ho Shung-pun & family had also obtained a $10 million 1-year loan from X8 Finance (Subsidiary of Hong Kong-Listed Termbray Industries). Ho Shung-pun family has another $10 million loan with interest rate of 29% p.a. for the initial 2 months & 18% p.a. thereafter. Savills (10/7/24): “International real estate firm Savills has completed the largest first-hand market transaction since the cancellation of stamp duty measures. The property, located at 46 Plantation Road, The Peak (the “Property”), currently comprises four three-storey detached houses with ground floor carports, and has been sold for HK$1.1 billion. The Property has a site area of approximately 21,470 square feet and a saleable area of approximately 16,986 square feet … … The independent detached houses have saleable areas ranging from 4,060 to 4,432 square feet. All houses have a layout of 4 en-suite bedrooms. Each house is equipped with a private swimming pool, an elevator, a rooftop, and parking spaces. The gardens for each unit range from 1,492 to 2,206 square feet. The Property is situated in the prestigious Peak district of Hong Kong, boasting an exceptionally prime location. Residents can enjoy panoramic views of the iconic Victoria Harbour, making this a truly rare and valuable offering.”
“ Hong Kong Smartphone Screen Glass-Maker BIEL Crystal Manufactory Founder & Chairman Yeung Kin-man Buys 4 Hong Kong Mansions on The Peak for $140 Million from Ho Shung-pun Family, 4 Townhouses A, B, C & D at No 46 Plantation Road Bought under Grand Tai Enterprises (HK) Development with Yeung Kin-man & Wife Lam Wai-ying Listed as Shareholders, Family Fortune of $5 Billion “
BIEL Crystal – Founded in 1989, BIEL Crystal is a leading global provider of exterior structure and module solutions for smart devices. With more than 30 years of technological innovation and excellent management, BIEL Crystal has become a large technology innovation group with 8 advanced production bases worldwide, with a total investment of over HK$40 billion, covering a total area of about 3.76 million square meters, employing more than 90,000 people and with an annual production capacity of 1.85 billion pieces.
Hong Kong Ho Shung-pun Family Sells 4 Houses at The Peak for $140 Million, 4 Town Houses Unit A, B, C & D at 46 Plantation Road, $140 Million Proceeds Reported to be Used to Repay $204 Million of Private Loan to Private Equity Firm Gaw Capital, Ho Shung-pun & Family Had Also Obtained a $10 Million 1-Year Loan from X8 Finance (Subsidiary of Hong Kong-Listed Termbray Industries), Ho Shung-pun Family Has Another $10 Million Loan with Interest Rate of 29% p.a. for Initial 2 Months & 18% p.a. Thereafter
11th July 2024 – Hong Kong Ho Shung-pun family has sold 4 houses at The Peak for $140 million (HKD 1.1 billion), with the 4 town houses (Unit A, B, C & D) at 46 Plantation Road. The $140 million proceeds have been reported to be used to repay $204 million of private loan to private equity firm Gaw Capital. Ho Shung-pun & family had also obtained a $10 million 1-year loan from X8 Finance (Subsidiary of Hong Kong-Listed Termbray Industries). Ho Shung-pun family has another $10 million loan with interest rate of 29% p.a. for the initial 2 months & 18% p.a. thereafter. Savills (10/7/24): “International real estate firm Savills has completed the largest first-hand market transaction since the cancellation of stamp duty measures. The property, located at 46 Plantation Road, The Peak (the “Property”), currently comprises four three-storey detached houses with ground floor carports, and has been sold for HK$1.1 billion. The Property has a site area of approximately 21,470 square feet and a saleable area of approximately 16,986 square feet … … The independent detached houses have saleable areas ranging from 4,060 to 4,432 square feet. All houses have a layout of 4 en-suite bedrooms. Each house is equipped with a private swimming pool, an elevator, a rooftop, and parking spaces. The gardens for each unit range from 1,492 to 2,206 square feet. The Property is situated in the prestigious Peak district of Hong Kong, boasting an exceptionally prime location. Residents can enjoy panoramic views of the iconic Victoria Harbour, making this a truly rare and valuable offering.”
Raymond Lee, CEO Savills Greater China: “The sale price of this single lot has been adjusted down by around 50% compared to the market peak. In comparison to the transaction on Lugard Road that we facilitated earlier this year, the price has also been adjusted by approximately 11%. The price is considered very attractive. Furthermore, the buyer completed the transaction in cash, with a short completion period, which motivated the seller to part with the property.”
Thomas See, Senior Associate Director, Investment CEO Office, Savills Hong Kong: “The single lot situated at The Peak, offering breathtaking vistas of Victoria Harbour, is an exceptional and coveted asset. This property is of exceptional quality and is well-suited for intergenerational family asset allocation and wealth transfer. These factors motivated the buyers to promptly decide to acquire this desired property.”
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