Aside from his guaranteed box office, Stephen Chow Sing Chi also has a sharp eye when it comes to real estate investments.
Last year, Stephen sold a luxury mansion at a price of $32k (HKD) per square foot, setting a record for the 6th highest price ever sold [for a luxury mansion]. He gained more than $30 million (HKD) from this sale.
Stephen’s good friend, "Big Lau," Lau Luan Hung [Michelle Reis Lee Ka Yan’s ex-boyfriend] has recently entered the market of buying old buildings to renovate. Yesterday, a report appeared that Stephen has bought a lot in a high-end neighborhood to construct four three-story houses. If the houses were successfully rented out, then Stephen will have an income of $900 million (HKD).
Allegedly, Stephen also bought a lot in Tsim Tsa Tsui and a building on Queens Road, with the intention of converting it to a mall. If the building is successfully rented, this will add $500 milion (HKD) in income.
The report estimates that Stephen’s total real estate assets are worth $1.5 billion (HKD) and his lifestyle is heading towards that of a billionaire’s.
Reporters contacted Stephen’s mother, Ling Bao Yi. Are Stephen’s real estate assets worth $1.5 billion (HKD)? "Stephen entered a real estate partnership with his friends. They bought a lot and will be erecting a building, with the intention of renting it out. Where would he have gotten $1.5 billion from? He is working with some friends and he invested some money in the project."
Ms. Ling also stated that the lot Stephen bought in Tsim Tsa Tsui is too small, so it may have limited development opportunities. But from an investment perspective, it may not be a bad deal.
Has Stephen been living the life of a billionaire? Ms. Ling laughed, "I always see Stephen wearing the same athletic jumpsuits. He does not give me an impression of living like a billionaire. Stephen has never asked for luxuries in his lifestyle. My son just enjoys eating the dinner I prepare!"
In Ms. Ling’s eyes, Stephen is only her son and not a billionaire.