28 Oct '15, 3pm

Has Alibaba's Jack Ma bought HK$1.5 billion home on #HongKong's Peak?

Has Alibaba's Jack Ma bought HK$1.5 billion home on #HongKong's Peak?

A luxury house at 22 Barker Road on The Peak is believed to have been sold for HK$1.5 billion, the world’s second most expensive in terms of per square foot - and talk is swirling that Alibaba founder Jack Ma may be the buyer of the house. The three-story block with a gross floor area of about 9,900 square feet cost HK$151,653 psf. It has appreciated more than eight times in 15 years. Yuen, former deputy chairman of PCCW and ex-chief executive of Hong Kong Exchanges and Clearing, bought the house in 2000 for HK$163.5 million. The site, previously the official residence of the Belgian consul, has a site area of about 12,500 sq ft housing the 70-year-old villa along with a 20,000-sq- ft garden. The residence is unlikely to be demolished as the current plot ratio is restricted and a new gross floor area would shrink by 36 percent to roughly 6,300 sq ft. It it was rebuilt, the...

Full article: http://www.propgoluxury.com/en/propertynews/the-peak/3301...

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propgoluxury.com 28 Oct '15, 3pm

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