In "Hong Kong House," He Youlong sold the mansion at 37 Island Road for HKD 437 million, making only HKD 2 million after holding the property for 14 years

The house at 37 Island Road, Deep Water Bay, was recently sold for HKD 437 million. It is reported that the seller is Ho Yau Lung, Chairman and CEO of Melco International (00200.HK).

The independent house has an area of approximately 4,257 square feet, with a transaction price of HKD 437 million, resulting in a practical price per square foot of about HKD 102,000. Ho Yau Lung purchased the unit for HKD 435 million from the developer, Cheung Kong Holdings (00367.HK), in 2011 for personal use. After holding it for 14 years, he has made a paper profit of about HKD 2 million, with an increase of only 0.46%.

According to market sources, the buyer is She Yingjie, the founder of Shiyun Circuit (603920.SH), or related individuals, who purchased the unit for personal residence.

37 Island Road was developed by Cheung Kong Holdings and consists of 4 houses, with usable areas ranging from 4,257 to 5,277 square feet