The controlling family behind Sun Hung Kai Properties has purchased a luxury residence in Hong Kong for HK$180 million, signaling continued confidence in the city’s luxury property market rebound. According to public records, a private company belonging to the Kwok family acquired a four-bedroom home at Shouson Peak, a high-end development built by their own company Sun Hung Kai Properties. The transaction highlights growing activity in Hong Kong’s luxury real estate sector as market conditions improve.
The purchase price translates to approximately $23 million, or HK$50,000 per square foot, according to sources familiar with the matter. This represents a notable premium compared to a similar transaction at the same development last July, when mainland businesswoman Esther Wong paid HK$42,300 per square foot for another Shouson Peak residence.
Hong Kong Luxury Real Estate Shows Strength
The Kwok family’s investment in luxury property comes as Hong Kong’s high-end residential market demonstrates signs of recovery after several challenging years. However, the decision to purchase from their own development raises questions about market dynamics and whether developer families are stepping in to support pricing at their projects.
Meanwhile, the transaction occurs against a backdrop of renewed interest in Hong Kong luxury real estate from wealthy buyers. Additionally, other premium properties in the city are returning to market as sellers seek to capitalize on improved conditions.
Financial Performance Reflects Market Shifts
The luxury property purchase follows broader trends in Asian real estate investment. The Ontario Municipal Employees Retirement System reported that its real estate holdings returned 5.1 percent in 2025, rebounding after posting a 4.9 percent loss the previous year, according to the pension fund’s announcement Monday.
In contrast, Singapore developer Ho Bee Land reported a 50 percent year-on-year decline in net profit for the second half of 2025, falling to S$50.4 million. Revenue decreased 12 percent to S$262.3 million during the period, the company stated Tuesday.
Regional Property Developments Gain Momentum
Elsewhere in Asia Pacific real estate, CapitaLand India Trust announced plans to raise S$150 million through a private placement to fund office developments in Bengaluru. The Singapore-listed trust intends to allocate S$100 million toward an office building in Ebisu and S$47.4 million for a project in Nagawara, according to regulatory filings.
Additionally, Indian data centre operator Sify Infinit Spaces is seeking a valuation of up to $4.2 billion in a potential initial public offering planned for mid-March. The company has begun investor meetings to raise INR 37 billion, people familiar with the matter indicated, though details remain subject to change.
Bank of East Asia Relists Seized Mansion
In another Hong Kong luxury property development, Bank of East Asia is attempting to sell a seized mansion at 15 Gough Hill Road for at least HK$1 billion. The bank acquired the property six months ago after a failed previous sale attempt and is now trying again as market conditions improve, agents familiar with the plans reported.
Furthermore, Mitsubishi Estate announced it has broken ground on The Tannery, an 81-unit luxury residential project in Brisbane developed through a joint venture with McNab Group and Ray White Capital. Construction is expected to complete during 2027, marking the Japanese developer’s first Brisbane project after establishing presence in Sydney and Melbourne.
Market observers will be watching whether additional luxury property transactions emerge in Hong Kong as the rebound continues, though the pace and sustainability of recovery remain uncertain as economic conditions across Asia Pacific evolve.
