Jacky Cheung Just Put His Duplex On The Market For S$74.5mil
He reportedly spent $8.1mil on the Repulse Bay apartment.
Jacky Cheung, 59, is not only the “God of Songs”, he is also the “God of Property”.
Like many of his celeb peers, the Heavenly King is a keen real estate investor. According to Hongkong media, Jacky recently put his luxury duplex in The Somerset in Repulse Bay on the market for HK$430mil (S$74.5mil).
The massive 4,655 sq ft apartment is reportedly made up of two duplex units, which Jacky combined into one.
It is said that Jacky and his wife, former Hongkong actress May Lo, paid a total of HK$46.3mil (S$8.1mil) for the two units in 1993 and 2004.
The couple have been living there with their two daughters, Zoe, 20, and Zie, 15, since the apartment was refurbished.
They recently moved to a new home and are looking to take advantage of the strong property market to sell the apartment. If successful, Jacky will earn a cool eight-fold profit.
The singer is said to have a keen eye for property and has been investing in real estate since the ‘90s. He reportedly pays for them in cash and has never made a loss in his years of investing.
May is equally savvy and manages his portfolio for him. Besides the duplex at the Somerset — Nicholas Tse reportedly lives there too — Jacky currently owns at least five properties, with a total market value of at least HK$800mil (S$138.5mil). This includes a unit in Elm Tree Towers at Jardine's Lookout and a penthouse in Repulse Bay.
He also invests in industrial buildings, such as two units in Paramount Building in Chai Wan for a total of HK$13.8mil (S$2.4mil) in 2017.
Most of his properties are rented out and he earns at least HK$1mil (S$173,200) in rental income each month.
Photos: Sinchew
