JARDINIT 5 Units Sold for HK$120M

According to the Land Registry records, JARDINIT in Jardine’s Lookout, a property project under CITIC Pacific, recorded 5 sales transactions yesterday. The new buyer is Excel Living Ltd, whose director is Ronnie Lo Chun-him – son of Lo Ka-shui, Chairman of Great Eagle Holdings Limited (Stock Code: 00041) and also an Executive Director of the company. The total consideration for the 5 units amounts to nearly HK$120 million, with an average transacted price of HK$40,373 per square metre.

Records indicate that the Lo Ka-shui family has been actively acquiring residential units recently. Prior to the interest rate cut in September, they purchased 17 residential units and 1 office unit successively, involving a total sum of over HK$484 million. After the rate cut in September, the family has snapped up 12 residential units in just over two months. Including the 5 units at JARDINIT mentioned above, the family’s total acquisition value of properties this year has approached HK$800 million.