Property News · March 5, 2019

Chinese Estates, selling a single home last year, posts a 72 per cent plunge in profit as sales and equity investments shrink


Chinese Estates Holdings, the Hong Kong real estate developer controlled by the family of tycoon Joseph Lau Luen-hung, reported its biggest profit plunge since 2010, as it sold a single apartment unit amid a cooling property market last year.The company, chaired by Lau’s 38-year-old son Lau Ming-wai, had a tough year in 2018, selling a single home at its 55 Conduit Road luxury project. The 4,170-square foot (387 square metre) Mid-Levels luxury apartment, which transacted for HK$286.2 million …

Source : South China Morning Post
Read more…Chinese Estates, selling a single home last year, posts a 72 per cent plunge in profit as sales and equity investments shrink

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