We know celebrities love big and expensive houses. Yup, we’re looking at you Jay Chou and Lin Ching-hsia. And joining the list is Cantopop diva Joey Yung who reportedly owns 12 properties around Hongkong — a feat considering how exorbitantly pricey Hongkong real estate is. The singer recently made the news when it was revealed that she had splashed HKD$200mil (S$34.2mil) on an apartment on 56 Repulse Bay Road. In case you don’t know, Repulse Bay in Hongkong, is like Beverly Hills in the US. According to reports, the super lux development boasts an awesome view of the sea and counts some of Hongkong’s richest people as its residents, like philanthropist Ina Chan, who is the third wife of casino tycoon Stanley Ho as well as the family of late billionaire tycoon Henry Fok.
The modern low-rise development, which has 53 units, overlooks the famed Repluse Bay and every unit is said to be a duplex with floor-to-ceiling windows, which we guess is so residents can relish the scenery all day err day. The usable floor area of each unit is said to be about 3341 sq ft, which makes it about the size of about four 4-room HDB flats.
No one is really surprised that Joey has decided to invest in such an expensive piece of property. She is after all one of Hongkong’s richest celebs and reportedly earned over HK$100mil last year. But here is where it gets interesting. A journo from a Hongkong pap rag did a check with Hongkong’s Land Registry and found out that the property is owned by Saintfield Limited, whose former director is Winchel Yu, aka the CEO of Grand Emperor Hotel. In case you don't know, Joey is an artiste under the Emperor Entertainment Group. But recently, Winchel resigned as the director of Saintfield and Joey and her mum were appointed as the company’s directors. The journo then noted that the buyer of the apartment would save as much as HK$56 million in stamp duties through the transferring shares in the company. That's like S$9.5mil. Whoa.
When asked about the reports, Joey replied through her management that all of her investment decisions are made by her mum and that she is unclear of what went on.