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Hang Seng Bank co-founder’s kin pays US$9.3 million for Hong Kong luxury flat
Magdalene Ho acquired a 1,806 sq ft, three-bedroom flat in Sun Hung Kai Properties-developed Dynasty Court in Mid-Levels this week
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Sun Hung Kai Properties’ (SHKP) luxury residential projects in North Point and Mid-Levels have attracted well-heeled buyers, including a granddaughter of Hang Seng Bank’s co-founder, who snapped up a flat for HK$72 million (US$9.3 million), according to official records.
Magdalene Ho Mai-ting bought the flat in Dynasty Court in Mid-Levels, one of Hong Kong’s upmarket neighbourhoods, according to Land Registry records, which showed the deal was registered on Wednesday.
Ho is the granddaughter of entrepreneur and philanthropist Ho Sin-hang, one of the founders of Hang Seng Bank, one of Hong Kong’s largest banks, according to local media.
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The 1,806 sq ft, three-bedroom flat was valued at HK$39,867 per square foot, according to listings on property agents’ websites.
The deal adds to a growing number of transactions in the luxury housing segment, where bankers, hedge fund founders and C-suite executives have been splurging on prized assets.
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Developed by SHKP in 1991, Dynasty Court appears to be a favourite among the city’s wealthy set.
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