Joseph Lau bought the 12.03 carat for his daughter Josephine
Every day Mingtiandi scans the web and curates the day’s biggest stories for you. Here’s what we found today:
Chinese Estates Boss Buys Record $48M Diamond for Daughter
A Hong Kong billionaire spent a record $48.4m buying an 12.03-carat diamond dubbed “Blue Moon” for his seven-year-old daughter in an auction in Geneva.
Property tycoon Joseph Lau bought the rock at a Sotheby’s auction on Wednesday and immediately renamed it “Blue Moon of Josephine” after his daughter. Read more>>
Sun Hung Kai Predicts HK Home Prices Will Stay Stable
In contrast to analysts’ forecasts, the city’s largest developer in terms of market capitalisation said it expects Hong Kong ‘s home prices to remain stable next year.
“Even if interest rates rise next year, there won’t be a big increase,” said Victor Lui Ting, deputy managing director of Sun Hung Kai Properties. Read more>>
Seattle EB-5 Fraud Case Could Leave SH Family Homeless
Shanghai resident Li can’t bear to break the news to his wife and kids: They might lose their small apartment because their $500,000 investment in a downtown Seattle skyscraper project flopped.
The couple mortgaged their home to raise the funds to invest, hoping to get a U.S. visa through the EB-5 program so their five- and eight-year old sons can someday get an American education. Read more>>
Chinese Property Management Firm Zhong Ao Home in HK$459 IPO
Zhong Ao Home Group, a mainland property management firm, will start a public offering of 224 million shares today to raise up to HK$459 million to support growth through mergers and acquisitions.
Trading on the Hong Kong stock exchange is expected to commence on November 25, with the initial public offering price range having been set at HK$1.72 to HK$2.05 per share. Read more>>
Mystery HK Buyer Snaps Up 350 Room English Manor
A Hong Kong family office investment firm has bought an £8 million (HK$94 million), 350 room stately home in northern England, the latest sign of interest from Asian investors for palatial European trophy assets.
The 18th century Wentworth Woodhouse in South Yorkshire has five miles of corridors, sits in 250 acres of park, and is the largest private residence in Europe. It is argued by some to be the inspiration for Pemberley Hall in Jane Austen’s classic novel Pride and Prejudice. Read more>>
Tune in again tomorrow for more news, and be sure to follow @Mingtiandi on Twitter for headlines as they happen.
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