Market news reveals that Shanghai Industrial Holdings (00363.HK) or related individuals have recently purchased two two-bedroom units in the middle A room of Wan Chai's Joy City from Eagle Holdings (00041.HK) Chairman Luo Jiarui's younger brother Luo Yingrui and related parties. The units have a usable area of 761 square feet and were sold for HKD 21.8 million at the beginning of this month, with a price per square foot of HKD 28,647, which is over 34% more expensive than the unit one floor above that Eagle Holdings purchased about five months ago.
It is reported that the unit was bought by Luo Yingrui and his daughter Luo Baoyun in 2013 for HKD 16.7541 million, and this sale is expected to yield a profit of HKD 5.0459 million or 30.1%.
As for whether the buyer is Shanghai Industrial Holdings or related individuals, the institution has already acquired four units in Joy City this year, involving a total investment of HKD 67.3 million. This includes two units in the high-level F room of building 5 purchased for HKD 14.5 million each in January and February, with a usable area of 588 square feet each, at a price per square foot of HKD 24,660. In mid-February, they further increased their holdings by purchasing the low-level E room in the same building for HKD 16.5 million, with a usable area of 658 square feet, at a price per square foot of HKD 25,076