Artist GEM acquires $85m property in Leon Court

Hong Kong singer Gloria Tang Tsz-kei, better known as GEM, has reportedly bought a special unit at Leon Court in Wan Chai for around HK$85 million, or at an average price just above HK$17,000 per square foot – nearly 50 percent below the building’s peak prices.

Two units at Leon Court, with a combined area of about 4,960 square feet, were sold for HK$42.5 million each, at a transaction price of HK$17,137 per square foot, according to a filing.

The new buyer is reportedly Tang Sze-wing, the same as Tang's birth name.

Tang’s popularity surged following her appearance on mainland talent show I Am A Singer. She topped the list of the highest-grossing concerts in the mainland last year, with over 3 million attendees and revenue exceeding 2.5 billion yuan (HK$2.66 billion), according to a mainland platform.

Tang acquired two units at Serenade Cove in Tsuen Wan ten years ago and transformed them into a duplex.

Also in Tsuen Wan, Tang purchased a four-bedroom unit at The Pavilia Bay in 2017 for HK$22.39 million.

STAFF REPORTER