Property News · July 29, 2025

Meitu’s investor buys 2nd Hong Kong tower in 3 months at discount


Mike Cai Wensheng, the co-founder of the Chinese selfie app Meitu, has bought a redevelopment site in the heart of Hong Kong’s Causeway Bay shopping district, picking up his second property in three months as shops and offices are going for discounts amid the city’s supply glut.
Cai paid HK$750 million (US$95.5 million) for a site measuring 5,388 sq ft (500 square metres) at 20-28 Cannon Street, formerly known as Sun On Mansion. The transaction for the commercial site, located between Jaffe Road…

Source : South China Morning Post
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