Cover Photo: Wheelock Properties

Smashing the previous record set only in February this year, a 4,544 sq ft apartment at the exclusive Mount Nicholson development sold for HK$140,800 (US$18,100) per square foot to a Chinese tycoon’s daughter

This article was first published on November 11, 2021 and updated on December 15, 2021.


Asia’s most expensive apartment sold per square foot was set in November in Hong Kong—and its buyer has been revealed to be Lau Chauin, according to the South China Morning Post.

Lau is the daughter of the Heungkong Group chairman Lau Chi-keung. The conglomerate, which was founded in Shenzhen, is involved with businesses including trade logistics, healthcare, financial investments, construction and others.

She reportedly bought two units at the Mount Nicholson luxury development in Hong Kong’s Peak area. One of them sold for HK$640 million (US$82.2 million), or HK$140,800 (approximately US$18,100) per square foot—making it the priciest property sold on a per-square-foot basis.

The apartment takes up 4,544 sq ft, and the sale includes three parking spaces, as reported by Bloomberg

The previous Asian record was set just nine months ago by the sale of a HK$459 million apartment at the 21 Borrett Road luxury residential project by Hong Kong tycoon Victor Li’s CK Asset Holdings.

And in June 2021, a parking space at Mount Nicholson became the most expensive place to park an automobile not only in Hong Kong, but also in the world—it sold for HK$10.2 million.

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Located in one of the most coveted neighbourhoods in the city, the Mount Nicholson development consists of 48 apartments and 19 houses. Amenities include a clubhouse, designed by renowned New York- and Toronto-based interior designer Yabu Pushelberg.

There is also a swimming pool for residents’ use, although the houses also each come with private pools. It was jointly developed by Wheelock Properties, Wharf Holdings and Nan Fung Development. 

 

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