Education centre boss, 22, buys US$117 million Hong Kong villa on Mount Nicholson even as city’s property remains downbeat
- Matthew Cheung Siu-woon splashed out HK$105,603 (US$13,526) per square foot on the property which comes with a garden and rooftop
- The deal was completed as fears of an escalation of the US-China trade war and protests in Hong Kong hit market sentiment
The 22-year-old chief executive of a high-end education centre has splashed out HK$916 million (US$117.33 million) for a house at one of Hong Kong’s most prestigious addresses.
Matthew Cheung Siu-woon bought the 8,674-square foot (806 square metres) house at Mount Nicholson on The Peak early this month, according to a Land Registry document released on Wednesday. The purchase comes at a time most analysts are expecting the luxury property market to be dampened by poor sentiment.
The young tycoon paid HK$105,603 per square foot for House 15, which comes with a 4,352 sq ft garden and a 1,178 sq ft rooftop. He is the chief executive of Causeway Education, which charges secondary students about HK$920 per hour for a course in mathematics.
The document showed the deal was completed on Tuesday, amid the escalation of the US-China trade war and a week after the city was gripped by massive protests against the controversial extradition bill.
