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Casino tycoon Stanley Ho’s son paid US$64 million for Hong Kong house days before coronavirus gathered pace

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Within days of buying 2 Island Road in Deep Water Bay, the coronavirus outbreak had snowballed into a health emergency, with the first reported cases in Hong Kong not far behindProperty transactions in fell to a 13-month low in January, as analysts warned the coronavirus outbreak is likely to further derail the world’s most expensive housing market

Mario Ho Yau-kwan, the youngest son of billionaire casino tycoon Stanley Ho, has splashed out HK$500 million on a house at one of Hong Kong’s most prestigious addresses, it emerged on Wednesday.

The large home, in an exclusive neighbourhood on the southern shore of Hong Kong Island, was sold to Ho on January 7, according to a Land Registry document released on Wednesday. At 3,836 sq ft, the price tag translates to HK$130,000 per square foot.“It is rare to see such houses in prestigious locations available for sale on the market. What rich families consider is whether they like the property instead of the price.

Mario Ho is one of billionaire Stanley Ho’s 17 children from four wives. Angela Leong, his fourth wife, is co-chairman and an executive director of SJM Holdings.

 

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