Hong Kong luxury mansion sells for HK$563 million to Singapore investor

A historic circular mansion at 14 Shek O Road in Hong Kong changed hands for HK$563 million (about US$72 million), making it one of the largest residential transactions in the city this year. The buyer, Singapore citizen Jennifer Tzelee Teo, is married to Hillhouse Capital founder Zhang Lei, a prominent private‑equity manager. The property, once the home of the late Wheelock chairman John Marden, spans over 6,100 sq ft and sits in the exclusive Shek O enclave, long favoured by Asian tycoons.

The deal highlights the resurgence of Hong Kong’s high‑end property market after a downturn, driven by mainland‑origin buyers who hold Singapore passports for tax and political flexibility. Such buyers now account for about a third of transactions exceeding US$100 million, reflecting broader wealth‑storage migrations and the city’s policy measures encouraging family‑office inflows.