The luxury residential project in Mid-Levels Central, spanning 270 square meters, was sold at HKD15,870 per square meter, a new level for first-hand residential property in the city, the developer said in a statement Sunday, as reported by The Standard.
It is located on the 20th floor of phase two of 21 Borrett Road, a high-end residential project in the city. The unit “boasts an expansive floor-to-floor height of 3.5 meters, configured in a premium five-bedroom with three ensuite layouts,” according to CK Asset.
Ka-shing is the second richest man in Hong Kong with a net worth of $48.6 billion, behind Robin Zeng, a battery tycoon, with $62.1 billion, according to Forbes.
21 Borrett Road, Hong Kong. Photo via Google Maps/KL Wong |
The project offers only two penthouses that are linked to the rooftop and a very limited number of special units, with the sold apartment being among them.
The sale comes amid “lingering uncertainties” caused by the U.S.-Israel war on Iran, which has prompted investors to diversify their assets, said William Kwok, chief manager of sales at CK Asset.
“With the Hong Kong real estate market showing a steady upwards trajectory, newly completed ultra-luxury residences remain exceptionally scarce, naturally becoming prime targets for mega-investors,” Kwok said, as cited by the South China Morning Post.
The transaction follows a series of deals in Hong Kong’s super-luxury housing market, defined as homes worth HKD100 million or more, underscoring strong demand for the city’s residential properties, particularly at the high end.
In the first four months of the year, 93 first-hand and second-hand homes priced above HKD100 million were sold, up from 37 in the same period last year, according to real estate broker Centaline Property. The total value of those transactions rose to HKD19 billion from HKD6.6 billion.
The increase in luxury home sales has coincided with Hong Kong’s aggressive efforts to attract wealthy residents and investors. The city overtook Switzerland last year as the world’s largest cross-border wealth hub, according to Boston Consulting Group.
Cross-border wealth in Hong Kong rose 10.7% to $2.95 trillion in 2025, narrowly exceeding Switzerland’s $2.94 trillion, the consultancy said in its latest global wealth report in May.
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