Developer family’s deals highlight capital shift across Hong Kong property sectors

A Mid-Levels transaction comes on the heels of the family’s commercial divestment, tracking a wider reallocation across the city A third-generation member of a long-established Hong Kong developer family has bought a HK$98.8 million (US$12.6 million) luxury flat in Mid-Levels, weeks after the family sold a long-held North Point property, highlighting a broader market trend of capital shifting across real estate sectors. John Lai Sung-ziang agreed to buy a high-floor unit at Estoril Court on August 31, Land Registry records showed. The price for the four-bedroom flat, which has a saleable area of 2,888 square feet, translates to HK$34,211 per square foot. According to Chinese media reports, Lai is part of the family behind Majestic Textiles and St Louis Land Investment, a property developer and owner.

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