---
title: "\"Port House\" East Asia \"Debtor Becomes Owner\" 790 million takes over the property at 15 Yingzhu Mountain Road from Chen Hongtiange"
description: "Bank of East Asia purchased a luxury home held by Chen Hongtian for HKD 790 million, becoming the new owner. The mansion is located on The Peak, covering an area of 18,078 square feet, and the transac"
type: "news"
locale: "en"
url: "https://longbridge.com/en/news/256688814.md"
published_at: "2025-09-10T07:40:27.000Z"
---

# "Port House" East Asia "Debtor Becomes Owner" 790 million takes over the property at 15 Yingzhu Mountain Road from Chen Hongtiange

> Bank of East Asia purchased a luxury home held by Chen Hongtian for HKD 790 million, becoming the new owner. The mansion is located on The Peak, covering an area of 18,078 square feet, and the transaction price is approximately 62% lower than the HKD 2.1 billion purchase price by Chen Hongtian in 2016. Bank of East Asia had previously provided a loan for this mansion and has now transitioned from creditor to owner

The luxury property at 15 Peak Gough Hill Road, owned by Chen Hongtian, chairman of Shenzhen Xiangqi Group and a wealthy businessman from mainland China, was sold for HKD 790 million in mid-last month. According to information, the new buyer is BANK OF E ASIA (00023.HK), which is significantly lower than Chen Hongtian's purchase price of HKD 2.1 billion in 2016, a decrease of about HKD 1.31 billion or approximately 62% (excluding reconstruction and other expenses). The transaction price per usable square foot is approximately HKD 43,700.

The luxury property has a total area of 18,078 square feet, featuring a layout of six bedrooms and six suites with a reading room, along with a 9,948 square foot garden, a 2,081 square foot terrace, a 1,200 square foot front yard, and a 1,631 square foot courtyard, totaling an outdoor area of 14,860 square feet. The garage area also reaches 2,788 square feet. Chen Hongtian purchased the property from Jones Lang LaSalle International (00367.HK) in 2016 for HKD 2.1 billion, with a floor price of approximately HKD 228,000 per square foot, setting a new record for land prices in Hong Kong at that time.

The luxury property became a mortgagee sale in March 2023 and had previously gone to auction multiple times without any bids. Market data shows that the new buyer is SUNRISE LEGEND LIMITED, whose company shareholder is BANK OF E ASIA. BANK OF E ASIA had previously provided a first and second mortgage for the property in February and April 2019, but the loan amounts are unknown; in other words, BANK OF E ASIA has transformed from a creditor to an owner with this purchase

### Related Stocks

- [00023.HK - BANK OF E ASIA](https://longbridge.com/en/quote/00023.HK.md)

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> **Disclaimer**: This article is for reference only and does not constitute any investment advice.