Miss Hong Kong Michele Reis’ husband sells penthouse at nearly $3M loss

Miss Hong Kong and Miss Chinese International 1988 Michele Reis (R) and her husband Julian Hui. Photo from Reis’ Weibo

According to Sohu, Julian has listed the penthouse, located in Hong Kong’s Ho Man Tin district, for HK$60 million—HK$10 million less than last month’s price.

Purchased by Julian in 2008 for HK$82.07 million, the property’s value peaked in 2018 at HK$110 million when real estate prices were high, leaving the current listing at nearly half that peak price.

The penthouse spans over 200 square meters and features four rooms along with a rooftop pool. It was previously a sought-after property in the market. It’s noted that Julian had been renting out the property for about HK$1.6 million annually, with Hong Kong actor Benny Chan once renting it to live with his family

Julian’s decision to sell the property at a loss has triggered various comments, with the Hong Kong Economic Times questioning his business savvy compared to his father, real estate tycoon Sai Fun Hui. Reports indicate that before his death in 2018, Sai Fun Hui arranged for his HK$42 billion assets to be placed in his name and allocated entirely to a family trust, instead of dividing them among his wife and three children.

This arrangement included substantial insurance policies, ensuring that each family member would receive HK$2 million monthly to sustain their extravagant lifestyle. Julian’s older brother passed away due to illness in 2014.

Julian is the youngest son of Sai Fun Hui, who was included in Forbes’ top 50 wealthiest in Hong Kong until his death. He had been previously engaged to Hong Kong actress Carina Lau and married to businesswoman Pansy Ho, daughter of casino tycoon Stanley Ho, before tying the knot with Reis.

Reis, 54, achieved fame as a distinguished Hong Kong actress after winning the 1988 Miss Hong Kong and Miss Chinese International pageants. She earned international acclaim for her role in Hong Kong filmmaker Wong Kar-wai’s film “Fallen Angels.” While she has reduced her screen appearances since the early 2000s, she remains a public figure.

She, Julian, and their son currently reside in a multi-billion-dollar mansion in Hong Kong (HK$1 billion equals US$128 million).