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Hong Kong Residence Sells for HK$1.16 Billion

It’s the second billion-dollar sale in the development

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A single-family house in the exclusive neighborhood The Peak is sold for HK$1.164 billion.

marco wong/Getty Images
A single-family house in the exclusive neighborhood The Peak is sold for HK$1.164 billion.
marco wong/Getty Images

A luxury home in The Peak, Hong Kong’s most exclusive neighborhood, has sold for HK$1.164 billion (about US$149.2 million), the developers announced Tuesday.

The buyer for the 9,178-square-foot (853 square meter) residence was not identified. The transaction has yet to appear in the government’s online registry.

The four-bedroom home boasts a private swimming pool, terrace, courtyard, two-car garage, and views of the Victoria Harbour and city skyline.

This is the second HK$1 billion-plus sale in the luxury residential development on Mount Nicholson Road, developed by Nan Fung Development Ltd. in partnership with Wheelock Properties Ltd.

Last December, a limited liability company, Giant Victory Holdings, purchased the largest, 9,950-square-foot residence for HK$1.08 billion, public records show.

Phase I of the projectwill have 17 two-to-four-story residences, ranging in sizes from 7,042 square feet to 9,950 square feet, according to company filings. At least eight of the houses were sold with prices starting at HK$525 million (US$67 million), according to latest statistics.

Phase II and III will include fourapartment towers andtwo single-family houses.

The most expensive residential sale on record in Hong Kong belongs to another home in The Peak. Hongtian Chen, chairman of Shenzhen-based real estate developer Cheung Kei Group, bought a 9,212-square-foot house on Gough Hill Road for HK$2.1 billion (about US$270 million) last June.

More:The Peak: Secluded Luxury High Above Hong Kong

Ranked the world’s top luxury market in 2016 by Christie’s International Real Estate, Hong Kong registered four US$100 million-plus sales last year.

The Peak, the area surrounding Victoria Peak, the highest point in Hong Kong, is home to the wealthiest Hong Kong and Chinese business moguls. Chinese e-commerce giant Alibaba’s founder Jack Ma reportedly owned a HK$1.5 billion residence in the neighborhood.