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Commercial and residential buildings are seen in Hong Kong. Photo by AFP |
Land Registry records show Joy Eagle, a company directed by Lo and his wife Lim Boon Tuang Lynda, sold a unit to King Faith International for HK$19 million (US$2.4 million) on March 17, South China Morning Post reported.
The property is a 750-square-foot, two-bedroom unit at The Harbourside in Kowloon Station. Fetching roughly HK$25,333 per square foot, the transaction leaves the seller with a modest profit after several years of ownership.
This follows another recent sale linked to Lo, involving a HK$21.8 million unit at The Avenue in Wan Chai, according to earlier reports from Chinese media. Together, these two deals generated approximately HK$40.8 million.
Angus Luk, senior director at CBRE, noted that while buyers are returning as prices stabilize, some investors prefer maintaining liquidity over uncertain market cycles.
“Now that the market has improved, there are buyers willing to take over these properties,” Luk told SCMP. “If they had sold earlier, they might not have made a profit, but now they can.”
Meanwhile, Great Eagle and Lo Ka-shui’s family have been actively capitalizing on weaker pricing. Great Eagle management recently purchased multiple units in developments like The Henley in Kai Tak, Lohas Park, and a project near Kam Sheung Road station, totaling over HK$96 million combined.
“Conservative investors prefer not to take on too much leverage,” Luk added. “Selling now also means they could use the cash to fund recently acquired projects.”
These transactions occur against the backdrop of a stabilizing Hong Kong housing sector after years of decline. Following a 30% plunge from their 2021 peak, lived-in home prices crept up 2% in the first two months of 2026, after a 3.3% rise in 2025.
Overall market activity is also accelerating. According to Land Registry data, February saw 7,949 property transactions in Hong Kong, marking a 4% increase from the previous month and hitting the second-highest level in nearly two years.
“Some second-hand homebuyers entered the market earlier before the holiday, as they were concerned prices could be higher if they waited,” said Derek Chan, head of research at Ricacorp Properties.
According to an interim report of Great Eagle, Lo has a Doctor of Medicine degree from the University of Chicago and is a specialist in cardiology and an honorary clinical associate professor at the Chinese University of Hong Kong Faculty of Medicine. He is also Great Eagle’s non-executive director.
