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Sign in Sign up for a FREE subscriptionVeteran real estate investor buys Hong Kong asset, most expensive property sold this year in the city
Raymond Lee Man Chun, owner of Winner Progress and co-founder of Hong Kong’s largest paper producer Lee & Man Paper Manufacturing, is believed to be the buyer of the most expensive property sold this year in Hong Kong, reported South China Morning Post.
The sales price was HK$1.45 billion ($180 million).
The seller of the three-story property, located at 8 Headland Road in Repulse Bay, was the American International Assurance Co., which purchased the property in 1985 for HK$20.2 million ($2.58 million).
The property totals 2,078 square meters (22,369 square feet).
