After US Land Purchase, Jack Ma Pays US$193M for a Single Property in Hong Kong

By Zhu Li, Epoch Times
August 18, 2015 Updated: August 18, 2015    

After spending US$23 million to purchase an American landholding, Alibaba chairman Jack Ma is reported to have spent US$193 million last week, on a luxury house at 22 Barker Road, Hong Kong’s exclusive Victoria Peak area, this is Ma’s 2nd house in Hong Kong.

Looking from the outside, the 70 year old 9,890 square-feet mansion at 22 Barker Road does not seem to be in the best of condition, but the 3 storey property is famous for its 270-degree sea view, and its location just below the fog line.

View of 22 Barker Road on August 15, 2015. (Bill Cox/Epoch Times)
View of 22 Barker Road on August 15, 2015. (Bill Cox/Epoch Times)

 

View of 22 Barker Road on August 13, 2015. (Bill Cox/Epoch Times)
View of 22 Barker Road on August 13, 2015. (Bill Cox/Epoch Times)

The seller of the mansion is Francis Yuen Tin-fan, the former deputy chairman of PCCW and ex-chief executive of Hong Kong Exchanges and Clearing, and his wife, Hang Seng Bank CEO Rose Lee Wai-mun. The couple bought the property for US$21 million, giving them a handsome gain of 9 times of their original investment in just 15 years. Prior to Mr. & Mrs. Yuen’s ownership the property was the residence of the Belgian Consul-General.

Only 2 months ago, according to The Wall Street Journal, Jack Ma bought a 28,100-acre landholding in the States for US$23 million. The estate is complete with woodlands, 9 miles of the Saint Regis River, a trout fishery, a 1940s log camp, two homes and a horse barn, Located 30 miles northwest of Lake Placid, in New York’s Adirondacks, known as Brandon Park.

In 2007, Ma paid US$36.5 million for a triplex penthouse at the top of Branksome Crest, Mid-Levels, Hong Kong, an investment possibly helpful towards him gaining Hong Kong permanent residency – a process that normally takes 7 years. In 2013, Ma spoke openly to Hong Kong media saying that he would get a Hong Kong permanent identity card in 2015.

Barker Road was developed in the 1890s, it was named after colonial Governor, Sir George Digby Barker.

Some of Ma’s interesting neighbours on Barker road are: 3 Barker Road, residence of the USA Consul-General; 11 Barker Road, residence of Commanding Officer of People’s Liberation Army (PLA) in Hong Kong; 15 Barker Road, residence of Chief Secretary of Hong Kong, and more…..

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