Saturday , October 12 2024

Hong Kong billionaire Yeung Kin-man buys 4 mansions worth $141M


Yeung Kin-man, founder of the world’s largest smartphone glass producer, has acquired 4 mansions in Hong Kong in an estimated HK$1.1 billion (US$141 million) deal.

Grand Tai Enterprises (HK) Development, a nominee company with Yeung and his wife Lam Wai-ying as shareholders, purchased townhouses A through D at 46 Plantation Road on The Peak last Thursday, according to the SCMP citing the Land Registry. The Peak is a mountainous area known for housing some of the most expensive properties in western Hong Kong.

Records of the deal were shown in Hong Kong’s land registry.

The houses, each of around 400 square meters, were put up for sale by the family of Ho Shung Pun, director of Kowloon Investment, a property investment firm established in 1955.

Ho’s family is in financial distress and has been selling many properties to pay debts.

Data from property consultancy Savills shows that the four houses were sold at only 50% of their market value in 2017.

Yeung is the founder and chairman of Biel Crystal Manufactory Ltd, which supplies screens for two-thirds of iPhones sold worldwide. He now has a net worth of $2.3 billion, according to U.S. magazine Forbes.

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