Lo Family of Great Eagle Acquires Four Units at La Mirabelle II for HK$59 Million
Thestandard · 1 SOURCESabout 1 hour ago2 MIN
Summary
The Lo family of Great Eagle Holdings (0041) has continued its aggressive expansion in Hong Kong's property market with a series of significant acquisitions. Led by chairman and managing director Lo Ka-shui, the family purchased four units at Sino Land's (0083) La Mirabelle II in Tseung Kwan O for approximately HK$59.19 million. This latest purchase follows an earlier transaction in late March when the Lo family acquired three units at the adjacent La Mirabelle I development for HK$43.7 million, bringing their total investment in the La Mirabelle series to seven units totaling around HK$103 million. In a separate transaction, the family has also acquired three two-bedroom units at New World Development's (0017) The Pavilia Farm in Tai Wai for approximately HK$47.2 million, demonstrating continued confidence in the Hong Kong residential market despite broader economic uncertainties.
Key Points
- Four units at La Mirabelle II in Tseung Kwan O purchased for approximately HK$59.19 million
- Three units at La Mirabelle I acquired in late March for HK$43.7 million, making total La Mirabelle investment seven homes worth HK$103 million
- Three two-bedroom units at New World Development's The Pavilia Farm in Tai Wai purchased for approximately HK$47.2 million
- Lo Ka-shui serves as chairman and managing director of Great Eagle Holdings (stock code: 0041)
- La Mirabelle developments are built by Sino Land (stock code: 0083), while The Pavilia Farm is developed by New World Development (stock code: 0017)
Why It Matters
The Lo family's substantial property investments totaling approximately HK$150 million signal continued confidence among Hong Kong's established business families in the local real estate market. These acquisitions across multiple prestigious developments from three major developers underscore the resilience of high-end residential property demand in the city, potentially influencing market sentiment during a period of economic uncertainty.
The Lo family's substantial property investments totaling approximately HK$150 million signal continued confidence among Hong Kong's established business families in the local real estate market. These acquisitions across multiple prestigious developments from three major developers underscore the resilience of high-end residential property demand in the city, potentially influencing market sentiment during a period of economic uncertainty.