{
  "id": 12248713,
  "title": "How a Hong Kong property investor still made US$30 million – after a 40% price cut",
  "url": "https://urgent.news/2026/10/05/how-a-hong-kong-property-investor-still-made-us-30-million-after-a-40",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-05T23:00:09.000Z",
  "source": {
    "name": "South China Morning Post",
    "slug": "south-china-morning-post",
    "url": "https://www.scmp.com/business/article/3369811/how-one-hong-kong-property-investor-still-made-us30-million-after-40-price-cut"
  },
  "original_language": "en",
  "account": null,
  "summary": "A long-time property investor in Hong Kong, Ng Kan-hoi, has sold a portfolio of prime street shops in Tsim Sha Tsui and secured a profit of nearly US$30 million, despite accepting a deal more than 40% below his original asking price. The portfolio included retail shops in the Cheung Lee Commercial Building and the Wing Lee Building on Kimberley Road, which were held by Ng for over four decades. The properties were sold for HK$256.8 million, reflecting a gain of almost 12 times his original investment. The sale of the properties, which included the basement and ground, first and second floors of the Cheung Lee Commercial Building and shops 6-10 on the ground floor of Wing Lee Building, was facilitated by a significant 40% price cut.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "South China Morning Post - Hong Kong",
        "title": "Hong Kong must scrap housing plan and preserve golf course",
        "url": "https://urgent.news/2026/10/05/hong-kong-must-scrap-housing-plan-and-preserve-golf-course",
        "published": "2026-10-05T21:30:05.000Z"
      },
      {
        "outlet": "CNBC World",
        "title": "Russian gold floods Hong Kong as Western sanctions redraw bullion trade",
        "url": "https://urgent.news/2026/10/05/russian-gold-floods-hong-kong-as-western-sanctions-redraw-bullion",
        "published": "2026-10-05T23:14:39.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}