HERALD HOLD plans to spend HKD 81.5 million to purchase property in Hong Kong
HERALD HOLD announced plans to purchase the property located at Room B, 18th Floor, Block 2, The Peak, 23 Old Peak Road, Hong Kong, through its wholly-owned subsidiary, Herald Property Limited, for HKD 81.5 million on October 30, 2025. The property is currently leased by HMPL as part of Dr. Zhang Zengji's compensation package. The board believes that, considering the interest rate cuts and market improvements, the purchase of this property represents an attractive investment opportunity that will help diversify the group's investment portfolio
According to the Zhitong Finance APP, HERALD HOLD (00114) announced that on October 30, 2025, the company's indirect wholly-owned subsidiary, Xingli Property Co., Ltd., intends to purchase the property from Dipende Limited for HKD 81.5 million. The property is located at Room B, 18th Floor, Block 2, The Peak, 23 Old Peak Road, Hong Kong, along with Parking Space No. 6 on LG4 of The Peak, 23 Old Peak Road, Hong Kong.
The announcement stated that the property is currently leased by HMPL from the seller as part of a rental reimbursement plan for Dr. Zhang Zengji, under which HMPL leases the property and subsequently provides it for Dr. Zhang's residence as part of his compensation package. Given that the existing lease agreement is already in place, the group is familiar with the actual condition of the property and fully understands its commercial value. In light of the recent interest rate cuts and signs of improvement in the Hong Kong residential property market, the board believes that purchasing the property represents a highly attractive investment opportunity for the group and will allow for greater diversification of the group's investment portfolio
