449 square meters, 116.8 million yuan! Malaysian tycoon Robert Kuok's son buys his own luxury home in Shanghai

Recently, Kerry Properties Limited announced that its Chairman, CEO, and Executive Director, Kuok Khoon Hong, signed an agreement on October 31 with Kerry's wholly-owned subsidiary, Shanghai Zhuomiao Real Estate Co., Ltd., to purchase a 449-square-meter four-bedroom property located in Jinling Huating, Huangpu District, Shanghai, for a total transaction price of approximately 116.8 million yuan, with a unit price exceeding 260,000 yuan per square meter. The project is currently in the pre-sale stage, and all units, including this property, have been made available to the public. The property is still under construction. The announcement stated that upon completion of the transaction, Kerry Properties is expected to gain approximately 23 million yuan in profit. This expected profit is calculated based on the transaction price, deducting estimated land and development costs, direct sales costs, and other related expenses and taxes. The proceeds from the sale of this property will be used as general working capital for the company. Public information shows that Kuok Khoon Hong, 46, is the son of Malaysian tycoon Kuok Khoon Hong, graduated from Harvard University, and has served as Chairman of Kerry Properties since 2022