The Lo family of Great Eagle (0041) recently purchased two units at Sea To Sky in Lohas Park for approximately HK$22 million, showing that the family is extending their acquisitions from newly developed properties to the secondary market..
One of the units, Unit D on a mid-floor of Block 3 in Sea To Sky, has a usable area of 786 square feet and features a three-bedroom layout. It was sold at HK$10.7 million at the end of last month, translating to about HK$13,613 per square foot.
The original owner had purchased the unit in 2020 for HK$12.65 million, resulting in a paper loss of HK$1.95 million, or a 15 percent decline in value.
The new buyer is Bright Domain Ltd., whose directors include Lo Ka-shui’s son.
Companies Registry records show that Bright Domain Ltd., currently owns three units, including two Sea to Sky units purchased last month and a three-bedroom unit at Residence Oasis, totalling HK$30.8 million.
The family has been actively buying new properties recently, primarily focusing on new developments, with total spending approaching HK$800 million in the past year.
