Hysan Development (00014), a Hong Kong stocks-listed property developer, sold three residential units at its Bamboo Grove project to connected persons including independent non-executive directors and their family members. The transactions involve one unit sold to the spouse of independent non-executive director Chung Ho-yee for HK$36.3265 million (1,451 sq ft), one unit sold to a company owned equally by Chung's son and daughter-in-law for HK$37.7039 million (1,503 sq ft), and one unit sold to independent non-executive director Wong Ching-ying for HK$52.25 million (2,084 sq ft). Bamboo Grove is a Hysan residential development comprising six towers with 345 units and 436 parking spaces, with phased sales beginning in August 2025.
Hysan Sells Three Bamboo Grove Units to Connected Persons
Hysan Development announced the sale of three residential units at Bamboo Grove to connected persons. The company sold one unit with a saleable area of approximately 1,451 square feet to the spouse of independent non-executive director Chung Ho-yee for a consideration of HK$36.3265 million. A second unit with a saleable area of approximately 1,503 square feet was sold for HK$37.7039 million to a company in which Chung Ho-yee's son and daughter-in-law each hold 50% equity. The third unit, with a saleable area of approximately 2,084 square feet, was sold to independent non-executive director Wong Ching-ying for HK$52.25 million.
Transactions Generate HK$32.7M Revenue for Working Capital
The sale transactions are expected to generate total revenue of approximately HK$32.7 million for Hysan Group. The net proceeds from the sales will be used for general working capital purposes.
Bamboo Grove Project Comprises 345 Units Across Six Towers
Bamboo Grove is a residential project developed by Hysan Group. The development consists of six residential towers containing a total of 345 residential units and 436 parking spaces. Since August 2025, Hysan Group has been selling residential units and some parking spaces in two residential towers at Bamboo Grove in phases.
FAQ
What units did Hysan Development sell at Bamboo Grove?
Hysan Development sold three residential units at Bamboo Grove: one 1,451 sq ft unit to the spouse of independent non-executive director Chung Ho-yee for HK$36.3265 million, one 1,503 sq ft unit to a company owned by Chung's son and daughter-in-law for HK$37.7039 million, and one 2,084 sq ft unit to independent non-executive director Wong Ching-ying for HK$52.25 million.
How much revenue will Hysan generate from these Bamboo Grove sales?
The three unit sales are expected to generate total revenue of approximately HK$32.7 million for Hysan Group, with the net proceeds designated for general working capital purposes.
What is the Bamboo Grove residential project?
Bamboo Grove is a Hysan Group residential development consisting of six residential towers with 345 residential units and 436 parking spaces. Hysan has been conducting phased sales of residential units and parking spaces in two of the towers since August 2025.
