Alibaba Group Holding chairman Jack Ma is reported to have purchased one of the most expensive homes in the world for 1.5 billion HKD.
This is despite his fortune taking a massive $752 million hit after the share price of his US-listed company dropped to the lowest level since going public last year.
If recent reports from the Hong Kong Economic Journal are anything to go by, then this hasn’t stopped Ma from splashing out a whopping HK$151,653 per square foot on the 9,900 sq ft mansion, located at 22 Barker Road on The Peak in Hong Kong.
This would make Ma’s the most expensive mansion per square foot in Hong Kong, and the second most expensive home per square foot in the world, following a HK$1.13 billion piece of real estate in Nice, France which sold for HK$175,000 per square foot, according to ejinsight.
The 70-year-old three-story flat on the peak had previously belonged to Francis Yuen Tin-fan, former PCCW deputy chairman, who’d scooped it up in 2000 for a cool HKD$163.5 million. Yuen and his wife last month bought a 5,199 sq ft home at the lavish residential complex Opus Hong Kong for HK$375 million.
[Image via SCMP]