Hutchison Whampoa Ltd. sold a second house in Hong Kong’s upmarket Victoria Peak area in a week for more than HK$500 million ($64 million), as developers accelerate sales amid expectations property prices are peaking.
Hutchison Whampoa Ltd., controlled by Li Ka-shing, Asia’s richest man, sold a house in Hong Kong’s Victoria Peak area for HK$740 million ($95 million), the second- highest paid for such property in the city.
Hong Kong businessman Raymond Chiu says he has perfect credit and is prepared to spend about HK$16 million ($2 million) on a 1,000-square-foot apartment in the city’s Mid-Levels residential area. There’s just one catch. The government requires a 50 percent down payment.
The first skyscraper at lower Manhattan’s World Trade Center is set to open with two days of ceremonies to mark the renewal of the area after its destruction by terrorists. When the fanfare subsides, the task will be filling the 40 percent of the tower that’s empty.
Jamie Horvat joined M&G Investments in London as a fund manager from Stifel Financial Corp. where he was an investment banker, according to Vlaad & Co., a Toronto- based financial services recruiting firm.