AdvertisementHong Kong propertyBusinessPrince Jewellery director sells upscale Hong Kong flat, upgrades to duplex
Tang Yick-ki swaps his 1,019 sq ft flat in The Cullinan for a 1,593 sq ft duplex in The Waterfront
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Cheryl ArcibalA director of Hong Kong-based Prince Jewellery and Watch has sold a flat in Kowloon and upgraded to a two-storey unit in the same neighbourhood, with an analyst saying that wealthy homeowners are taking advantage of improving sentiment to swap their dwellings.
Tang Yick-ki, a director at Prince Jewellery and Sky Regal Properties, completed both deals in just over a month. Tang also serves as a director in many other companies including Just Gold, Peonia Diamond and Peonia Holdings, according to the Companies Registry.
As the city’s property market gradually shakes off a protracted slump, affluent homeowners were likely to upgrade their dwellings amid uncertain times, according to Knight Frank.
Tang sold a unit on the 71st floor of The Cullinan on Austin Road West in West Kowloon for HK$46 million (US$5.9 million) to an entity called Winner Sure, with the deal registered on January 5, according to the Land Registry.
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Winner Sure’s sole director is He Mingxing, who listed another unit in the same building as his address, according to the Companies Registry.
Tang bought the 1,019 sq ft, three-bedroom flat in 2016 for HK$32.5 million.
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Three weeks later, Sky Regal Properties, whose sole director is Tang, bought a duplex at The Waterfront in the same residential block for HK$50 million, according to the Land Registry. The deal was completed on Wednesday.
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