Billionaire Joseph Lau's family reportedly sell Mid-Levels luxury home for $100 million

Hong Kong billionaire businessman Joseph Lau Luen-hung’s family has reportedly sold a luxury home in Mid-Levels for nearly HK$100 million. 

The three-bedroom flat at the Albany, with a floor area of 1,948 square feet and a car parking space, was sold for around HK$51,000 per sq ft, the highest in nearly five years for the project. 

It was said that Lau’s family purchased the flat for HK$88 million in 2013 via a company, meaning they pocketed a paper gain of HK$12 million from the sale after holding the asset for 12 years.

The company’s directors include Lau’s son and the billionaire’s ex-girlfriend Yvonne Lui Pui-lam, better known as Yvonne Lui Lai-kwan.