Hong Kong’s Most Expensive Home Development Could Be Yours … for $365 Million

Hong Kong‘s K. Wah International Holdings and Chuang’s Consortium International's proposed villa at 28 Po Shan Road.
Hong Kong‘s K. Wah International Holdings and Chuang Consortium International’s proposed villa at 28 Po Shan Road. Chuang Group.

Looking for incredible views of the South China Sea in a vertical villa? The proposed development at 28 Po Shan Road in Hong Kong’s wealthy Mid Levels neighborhood — a 44,388 sq. ft. eight-story residence (according to its building plan) — features a 4,446 sq. ft. garden and 2,197 sq. ft. roof terrace. It could be yours for only an estimated $2.84 billion HKD or about $365 million USD. 

This project was talked about as early as 2009, when the land was originally bid on for a price of $325 million HKD ($42 million USD). Two developers, K Wah International Holdings and Chuang’s Consortium International, are bringing the personal mini skyscraper, the latest must-have for Indian billionaires, to Hong Kong’s verdant hills.

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Mukesh Ambani’s 27-floor, $2 billion Antilia private residence overlooking Mumbai, for example, features a 168-car garage, nine elevators and a 50-seat theatre. Mukesh It has a room that blasts out snow flakes, an in-house temple that fits 50 worshippers, three helipads and six floors for Ambani’s luxury cars and is attended by 600 staff members. Not to be outdone, the Raymond Group’s chairman Gautam Singhania built the 30-story JK House in south Mumbai, a nod to one of India’s largest conglomerate’s roots. 

Like the Antilia, the price tag will warrant some equally impressive amenities. Proposed features include six-meter ceilings on the entertainment/dining floor and six floors of residential suites with 11-foot-plus ceilings. Most likely to be purchased by a billionaire, this vertical mansion works out to roughly $8,223 USD per square foot.

The elevated glass palace would be a first in Hong Kong, the world’s most expensive urban center for many years. In comparison, many of its wealthiest residents have opted for sprawling bungalows in exclusive neighborhoods instead of high altitudes.

In 2009, Pony Ma Huateng, the founder of Asia’s largest company, bought a HK$490 million (app. $63 million) property in Shek O and redeveloped it into a 19,600 sq. ft. property valued at about $231 million. Jack Ma, founder of the Alibaba Group, has a 9,890 sq. ft. three-story house on The Peak valued at $193 million.

Given its proximity to the mainland, this project will likely attract the interest of the ultra-wealthy Chinese market. The turnkey project will be built to the buyer’s specifications, and will only be constructed with a buyer’s commitment.

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