The family of property tycoon Lee Shau-kee, Hong Kong’s second-richest man, lives in a grand mansion on The Peak—one of the city’s most prestigious neighborhoods, home to some of the world’s wealthiest individuals.
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Hong Kong billionaire Lee Shau Kee attends the funeral of Cheng Yu Tung, founder of Hong Kong property group New World Development, Oct.13, 2016. Photo by Reuters |
According to the South China Morning Post, Lee’s younger son Martin secured the site at 35 Barker Road in 2010, outbidding Chinachem Group in a private land auction. The purchase price of HK$1.82 billion (US$234.2 million) made it the most expensive site in the world at the time in terms of gross floor area, according to Koh Keng Shing, managing director at Hong Kong’s Landscope Surveyors.
“The price is reasonable but it is not something bought for money,” Martin Lee said at the time. “Even if you are willing to spend a fortune, you may not be able to get something you fancy. We will build three or four 2- to 3-storey houses for our family to live in.”
According to The Standard, the Lee family then developed three luxury villas on the property, covering a total area of 26,756 square feet (2,486 square meters). The estate, completed in 2018, also includes a large swimming pool and 16 parking spaces, Dimsum Daily reported.
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Hong Kong billionaire Lee Shau Kee’s family residence at 35 Barker Road on The Peak. Photo by Wikimedia |
The Peak is among the world’s most exclusive residential markets, with notable residents including Evergrande founder Hui Ka Yan and Alibaba’s Jack Ma.
Before moving to their The Peak estate, the Lee family had lived in the Eva Court penthouse at 36 MacDonnell Road in Hong Kong’s Mid-Levels neighborhood since 1984. The 22-story luxury residential building was specifically developed for the Lee family and was named after Lee’s former wife, Lau Wai Ken.
Lee passed away at the age of 97 on Monday evening, as confirmed by his company Henderson Land Development in a press release, as per AFP.
As of February, Forbes ranked him as Hong Kong’s second-richest man, with a net worth of US$29.2 billion.
