25 Aug 2023
Dennis Law and others buy a detached house on the peak at about $900 million
羅氏夫婦看好工商舖後市，三年來，另斥逾10億吸納，包括銅鑼灣OLIV基座（約3億），銅鑼灣禮頓道58至60號地舖（1.1億）、中環域多利皇后街5至8號地下A、 B1 、B2 及E號地舖（1.8億），及油麻地彌敦道526號寶翠大樓地下03A號舖連閣樓（7150萬）等。
Java sold a super luxury house on Mount Kellet Road last month. According to people familiar with the matter, the buyers were Everbliss Properties director Dennis Law and his wife Tang Ka Ling. The price was about $900 million. They bought rare detached houses for long-term investment.
The former site of No. 59 Mount Kellett Road was two detached houses. Java merged them and rebuilt them into a giant detached house. When it was first released in 2021, the asking price was as high as $1.5 billion, and the price per square foot was $210,000, as the property market was affected by negative factors, the asking price gradually fell, and it was reduced to about $1.18 billion in September last year. After the customs clearance, mainland customers went south to scan goods, but there was no enthusiasm. The increase in interest rates impacted the property market, and the detached houses eventually fell by more than 40%. Changed hands through a trading company, the price is about $900 million, about $127,000 per square foot.
40% discount from peak asking price
This exclusive project covers an area of about 15,000 square feet, with a usable area of about 7,111 square feet. The mansion is equipped with elevators, gardens, front yards, patios and garages, and a swimming pool on the roof. People familiar with the matter said that although the original owner’s asking price was high, Dennis Law and His wife, Carina Tang, was very sincere and finally succeeded in buying it. It became the largest luxury house case in the Peak in recent years. Both the asking price and the price per sq.
The Law family is optimistic about the future market of industrial and commercial shops. In the past three years, they have invested more than 1 billion to absorb, including the OLIV base in Causeway Bay (about 300 million), the ground floor shops at 58-60 Leighton Road in Causeway Bay (110 million), and 5-8 Queen Victoria Street in Central. Shops A, B1, B2 and E on the ground floor of No. 1 (180 million)