The most read Vietnamese newspaper
Edition: International | Vietnamese
© Copyright 1997 VnExpress.net. All rights reserved.
The 4,378-square-foot (406-square-meter) unit, located on the sixth floor of the Mont Verra development’s Tower 5, features four bedrooms, each with an en suite, along with two helper rooms and parking spaces.
It sold last month for HK$57,107 per square foot (US$79,016 per square meter) and was registered under the names of Weidong and his wife, Pan Junfang, the South China Morning Post reported.
The Wu family initially amassed its fortune through Wuhu Shunrong Auto Parts, which Xushun founded in 1995 with his wife and children, according to Forbes.
The auto parts manufacturer later ventured into online gaming in 2013 through the purchase of a controlling stake in Shenzhen-listed 37 Interactive Entertainment Network Technology Group (formerly Wuhu Sanqi Interactive Entertainment Network Technology Group). The firm has since become one of China’s largest game developers and operators.
In recent years, the family has been reducing its holdings in the group, with the firm’s 2025 interim report showing Weidong with a 1.9% stake. Their net worth is estimated at US$1.4 billion.
The Mont Verra penthouse sale comes amid improving market sentiment in the city’s housing sector.
Home prices rose for the fifth consecutive month in October to 294.3, up 0.41% from September and a 1.76% gain in the first 10 months, The Standard reported, citing data from the Rating and Valuation Department.
Prices for small and medium-sized flats saw a 0.3% rise while units over 100 square meters climbed 0.9%. Secondary home prices grew 0.4% month-on-month.
Meanwhile, residential rents hit an all-time high, supported by a steady influx of mainland Chinese immigrants under new visa programs.
Though the market has been showing signs of recovery from a four-year slump, home prices are still 25% lower than the peak in 2021, Bloomberg reported.
Eddie Kwok, executive director for valuation and advisory services at consultancy CBRE Hong Kong, forecasts that residential property prices will grow by 3% this year and 3-5% next year.
