Buyer linked to Ningbo’s richest family purchases Hong Kong trophy home for US$18.5m

Deal adds to signs of mainland Chinese wealth entering the city’s high-end residential market despite a slowdown in overall activity Wu Xiaoming agreed to buy a home at Villa Lucca, 7 Lucca Avenue, on July 17 under an off-plan agreement for sale and purchase, Land Registry records showed. The four-bedroom stand-alone garden house has a saleable area of 5,281 sq ft, implying a price of HK$27,571 per square foot. Wu is a director of Mecca International Holding (Hong Kong), according to Companies Registry records. Wu Xiaoming was appointed a director of the Hong Kong company in 2018, replacing Wu Jianshu as the first-named director, records showed. The transaction adds another link between Ningbo capital and Hong Kong property.

Read the full article at the source →