Real estate market
Written by: Xu Shihao Cai Weinan
2021-05-15 13:03
Last update date: 2021-05-15 13:31
Deng Chengbo, known as "the king of shops," passed away at the age of 88.
The spokesman said that Deng Chengbo passed away peacefully at the Sanatorium and Hospital accompanied by a group of family members at noon yesterday (14th) at the age of 88.
According to his family, Deng Chengbo has always pursued the life and business philosophy of "being far-sighted, hardworking, thrifty, judging the situation, and adapting to changes," and he is highly respected and respected.
The family will uphold his legacy, work together to develop the family business, and make positive contributions to the country and society.
The family is also grateful for the friendly and sincere concern and condolences from all walks of life, and the nursing team of the Sanatorium and Hospital for their careful care.
The family will announce the details of the funeral arrangements in due course.
The first on the right is senior investor Deng Chengbo.
Deng Chengbo, known as "Uncle Bo," reportedly worth tens of billions of dollars. For decades, he held more than 200 commercial and industrial properties in Hong Kong during the peak period, making him known as "the king of shops."
In recent years, Deng Chengbo has retreated behind the scenes, and the business has been handed over to young boy Deng Yaosheng.
Deng Yaosheng’s Stan Group, named after his English name, checked the company’s website. In addition to cooperating with the Deng Chengbo family to manage a total of 73 billion yuan in real estate portfolio, the business also covers real estate investment and management, hotel and catering Services, communication services, financial services, and the elderly services and entrepreneurial innovation platform promoted by the social innovation business The STILE, operating more than 40 brands.
Since last year, the chain store has been cashed out
However, the "shop king" is also difficult to fight against the social movement and the epidemic. From time to time last year, there were news that financial difficulties and the need to sell for cash out. So far, at least 15 properties under his company have been sold and 2 billion yuan has been cashed out, including nearly 125 million yuan last month. Sold a basket of properties at the Ningfu Street Industrial Building in Chaiwan, holding the goods for two years, and the book value was only a tie; this month, he also sold the ground shop on Shui Hang Kou Street, Sheung Wan, with a loss of about 8.7 million yuan for the four-year holding.
The latest group also launched a new market tender for a basket of properties on Junction Road, Kowloon City, including serviced residences for the elderly in Kowloon City Wei Ying Xuan and adjacent old buildings, with a market value of more than 2.5 billion yuan.
Deng Chengbo