{
  "id": 12250255,
  "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-40-12250255",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-05T23:00:09.000Z",
  "source": {
    "name": "SCMP Business",
    "slug": "scmp-business",
    "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-term property investor in Hong Kong has successfully sold a portfolio of prime street shops in Tsim Sha Tsui, securing a profit of nearly US$30 million despite accepting a deal more than 40 per cent below his original asking price. The portfolio, which includes retail shops in the Cheung Lee Commercial Building and the Wing Lee Building on Kimberley Road, changed hands for HK$256.8 million. The seller, Ng Kan-hoi, acquired the properties between 1979 and 1987 during the tense Sino-British negotiations, and after holding them for more than 40 years, he realised a gain that was almost 12 times his original investment. Bridgeway Prime Shop Fund Management's Edwin Lee noted that the price per square foot was relatively low due to the difficulty in finding a buyer for the entire package when the market was booming.",
  "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."
}