Seized US$70 million Hong Kong luxury home linked to Evergrande founder Hui Ka-yan put on sale
- Receivers are seeking bids for 10E on Black’s Link, a three-storey detached house on The Peak with an area of 4,933 sq ft
- Hui’s Evergrande Group, saddled with US$328 billion of liabilities, was ordered to undergo liquidation by the Hong Kong High Court in January
A HK$550 million (US$70.2 million) Hong Kong luxury property linked to China Evergrande Group’s founder Hui Ka-yan has been put up for sale by receivers. Agents expect a short-term boost for the ultra-luxury segment following the end of decade-old property curbs in this week’s budget.
The property, 10E on Black’s Link, in the prestigious Peak area, is a three-storey detached house with an area of 4,933 square feet.
Savills, the agent responsible for the sale, is inviting tenders for the property, which closes on April 22. The HK$550 million valuation is based on market estimates.
Last November, Evergrande’s creditor Orix Asia Capital appointed Cosimo Borrelli and Tang Tak Yeung as receivers for two adjacent homes, 10C and 10E on Black’s Link, according to filings with the Land Registry. The two properties are linked to Hui through his associate Tan Haijun, who is listed as the director of Giant Hill, the company that owns the two houses. Another of Hui’s mansions on Black’s Link, 10B, was put up for sale in March 2022.
