Aaron Kwok Buys Chai Wan Factory Unit for HK$6.28 Million
SingTao · 2 SOURCESabout 4 hours ago5 MIN
Summary
Aaron Kwok (郭富城) has entered the Chai Wan Industrial City market with a HK$6.28 million purchase made through his company Strong Pion Limited at the end of September. The high-floor Unit 10 in Phase 2 has a saleable area of about 1,782 square feet, translating into a price of HK$3,524 per square foot. Reports said the space is expected to be used as a private rehearsal studio or for personal storage, rather than as a pure investment property. The deal has drawn attention because the unit was bought at a much lower price per square foot than nearby purchases by Julian Cheung Chi-lam and Anita Yuen Wing-yee, as well as other entertainment figures in the same building.
Key Points
- Kwok bought a high-floor Unit 10 in Chai Wan Industrial City Phase 2 through Strong Pion Limited for HK$6.28 million at the end of September.
- The unit measures about 1,782 square feet, and the transaction worked out to roughly HK$3,524 per square foot.
- Sing Tao reported the property is expected to serve as a private dance rehearsal room or personal collection space for self-use
- Julian Cheung and Anita Yuen bought neighboring Unit 11 in 2023 for HK$8.8 million, or HK$5,744 per square foot, about 39% higher.
- The previous owner bought the unit in 2005 for HK$1.2 million and, after holding it for 21 years, made a paper gain of HK$5.08 million
Why It Matters
For Hong Kong readers, the transaction offers a concrete example of how sharply industrial property prices in some celebrity-favored buildings have fallen from earlier peaks, creating opportunities for buyers with cash and a self-use plan. It also shows that well-known entertainers are still active in the city’s property market, but are entering more selectively and at significantly lower valuations than in previous years.