KUALA LUMPUR, June 29 — Hong Kong’s Heavenly King Jacky Cheung is set to make an eight-fold profit following the listing of his luxury duplex in The Somerset in Repulse Bay for sale.
Hong Kong’s Oriental Daily reported that the 59-year-old Cheung had put a tag of HK$430mil (RM229 million) for the property which he and his wife, former Hong Kong actress May Lo, bought in 1993 and 2004 respectively for HK$46.3mil (RM14 million).
With a built-up area of 432 sq m, the property comes with four parking lots.
Cheung holds on to the principle of buying properties whenever he has the money and coupled with Lo’s financial management, Cheung has been investing in properties since the 1990s.
He has at least five properties in the city with a market value of HK$800mil (RM427 million).
If all the properties were to be rented out, Cheung is said to be able to make millions in rental alone.
