Pansy Ho, daughter of Macau casino tycoon Stanley Ho, has reportedly purchased Asia’s second most expensive home for the hefty amount of HK$900 million, according to a report from news outlet the South China Morning Post.
The mansion is located in an exclusive Hong Kong neighborhood. It is believed that it occupies 5,579 square feet at 28 Gough Hill Road on The Peak, known to be the highest mountain on the Hong Kong Island and one of the most exclusive places to purchase a home. Land Registry data released earlier this week further shows that the property includes 7,489 square feet of garden and swimming pool.
House 3, as the property is identified, is believed to have been sold for HK$161,319 per square foot, which makes it the second most expensive home in Asia. The top spot is occupied by a 9,212-square-foot mansion at 15 Gough Hill Road which was purchased by businessman Chen Hong Tian for HK$182,370 per square foot back in 2016.
According to Land Registry data, private company Smart Richest International has recently purchased the House 3 mansion. Two senior employees of Ms. Ho – Jeny Lau and Yuen Kein-kei – are listed as directors at the holding. They are also directors at Shun Tak Holdings, a ferry and helicopter operator providing service between Hong Kong and Macau. The company was established in 1999 and has various other operations. Ms. Ho acts as Chairwoman and Executive Director of Shun Tak Holdings.
According to analyst Denis Ma, Head of JLL’s Hong Kong branch, the hefty price for Ms. Ho’s new asset was actually in line with current market trends and other Peak mansions.
Who is Pansy Ho?
Ms. Ho is the eldest of five children of self-made billionaire and Macau casino industry founding father Stanley Ho and his second wife Lam King Yin. Ms. Ho received her high school and higher education in the United States where she studied business and marketing.
Back in the 1980s, she had a brief career as an actress, but changed her aspirations shortly after to begin pursuing a career as a businesswoman. As mentioned above, the 55-year-old magnate is the Chairwoman of Shun Tak Holdings, which operates in multiple fields.
She is also a major shareholder in MGM China, the Macau arm of casino and hospitality giant MGM Resorts International. Ms. Ho is sister of another gambling tycoon, Lawrence Ho, whose Melco Resorts & Entertainment operates integrated resorts properties in Macau, the Philippines, and currently develops a property in the Republic of Cyprus.
With estimated net worth of around $4.8 billion, Ms. Ho is the 16th richest person in Hong Kong, according to Forbes’ list of the city’s wealthiest. She also ranks as the city’s second richest woman, with Pollyanna Chu Yuet Wah of Kingston Financial Group topping that ranking with estimated wealth of around $12 billion.
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