18 Jul 2023
【Celebrity Selling Goods】Lai Sun Chew Fook Ann sold Repulse Bay luxury property and earns $46.12 million on book
After the comprehensive customs clearance between China and Hong Kong, driven by the influx of mainland funds to buy properties in Hong Kong, the luxury real estate market has significantly revived, and many celebrities have taken the opportunity to sell goods to cash out. According to news, Lai Sun International (00191) Vice Chairman Chew Fook Ann just sold a Repulse Bay luxury unit for about $64.8 million, earning a book profit of $46.12 million. The unit mentioned above is Room 38 on the lower floor of Block 2, Repulse Bay Garden, with a usable area of 2,049 square feet. The price per square foot is about $31,000, which is about 2% higher than the bank's online valuation of $63.47 million, which reflects that the owner is selling at the market price.
The agent in the area revealed that the unit is held in the name of ORINOCO LIMITED. The directors of the company include Chew Fook Ann and Ho Chi Wai. The former is the vice chairman of Lai Sun International (00191). The annual book profit is $46.12 million, which has appreciated by 2.5 times during the period.
According to the data, Chew FookＡｎｎ, who was born as an accountant, is considered a veteran in the real estate industry. As early as 20 years ago, he served as the chief financial officer of Kerry Properties.