Buildings stand in Hong Kong Feb. 24, 2025. Photo by Reuters
A wealthy Mongolian mining family has purchased a luxury detached house in Hong Kong’s Southern District for HK$247 million (US$31.5 million) to turn it into a ‘retirement residence.’
Tisara Holdings, directed by Tselmuun Nyamtaishir, reached a provisional agreement on Jan. 29 to purchase House 5 at One Stanley, located along Wong Ma Kok Road in Stanley, according to Land Registry records as reported by Hong Kong-based South China Morning Post.
Nyamtaishir serves as president and chief executive of Mongolyn Alt (MAK), the diversified mining and industrial group established in 1993 by her father, Byambaa Nyamtaishir.
She is also a non-executive director at XacBank, a major financial services provider in Mongolia.
MAK is among Mongolia’s leading coal exporters and one of the country’s early domestic producers supplying coal to China. The group has collaborated with partners including Qinghua Group and Huawei Technologies, while investing in infrastructure upgrades at the Shiveekhuren border crossing to expand export throughput.
One Stanley, comprises 43 blocks, offering a total of 82 units. It has attracted wealthy local and overseas buyers seeking privacy, exclusivity and sea views.
The Southern District and The Peak are among Hong Kong’s most prestigious residential areas and have been at the forefront of a broader recovery in the city’s luxury housing market after years of falling prices, China Daily reported.
The two districts recorded 174 primary and secondary market transactions in 2025, with total deal value rising 21.2% year on year to HKD19.9 billion, according to brokerage data.
This marked the highest annual turnover since 2021, when transaction value reached HKD26.1 billion at the previous market peak.
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