Exposed: Li Ka-shing's 60-year residence, Implicated in speculative gossip
Nestled in the Southern district of Hong Kong Island, at 79 Deep Water Bay Road, stands a grand mansion that has been a part of the Li family for over six decades. The property, initially purchased in 1963 by Chong Yuet-ming, the late wife of Li Ka-shing, was originally registered to a local accountant, Thomas Le Cheuk-kuen.
Built on an elevated podium, the mansion boasts a swimming pool, a lawn, and three stories. After Chong's passing in 1990, the deed was transferred to Victor Li Tzar-kuoi, Li Ka-shing’s elder son, in an administrative capacity. It was formally registered under Li Ka-shing's name by assent in 1994.
Contrary to recent rumors, the Li family and their company CK Asset Holdings have denied any plans to sell the mansion. In a statement, they declared the property is not for sale, dismissing the rumors as "entirely fabricated, false, and groundless."
It's essential to clarify that Li Ka-shing is a separate individual from Victor Li. Richard Li Tzar-kai is another individual within the Li family. Victor Li served as the administrator of the property in 1991, following Chong's death, and the transfer of the property to Li Ka-shing occurred in 1994.
The Li family has continued to reside in the mansion, with Victor Li and his family currently calling it home. The mansion, a testament to the Li family's enduring presence in Hong Kong, stands as a symbol of their deep roots in the city.
[1] "History of Li Ka-shing's Mansion at Deep Water Bay," Hong Kong History Centre, www.hkhistory.info/articles/history-of-li-ka-shing-s-mansion-at-deep-water-bay [3] "Li Ka-shing's Mansion Not for Sale, Denies CK Asset Holdings," South China Morning Post, www.scmp.com/news/hong-kong/property-markets/article/3166655/li-ka-shings-hk-10bn-deep-water-bay-mansion-not [5] "Li Ka-shing's Mansion: Denial of Sale Rumors," The Standard, www.standard.com.hk/breaking-news/standard-news/li-ka-shings-mansion-denial-of-sale-rumours-b100170
- The Li family's decision to hold onto their grand mansion at 79 Deep Water Bay Road, initially purchased in 1963, may indicate a long-term investment in real-estate and the housing market of Hong Kong, reflecting their deep roots in the city.
- Given the Li family's denial of plans to sell their mansion, potential investors in the local real-estate market might find it prudent to closely monitor the financial implications of this decision on the Li family's company, CK Asset Holdings, in the broader context of the Hong Kong finance sector.
