If you have children today and you want them to be great at mathematics, you will send them for maths tuition. A tuition centre will be cheaper as it caters to a large group of students or it could be a one to one for RM100 per hour? Well, someone in Hong Kong have a super-duper choice. They could send their kids to Causeway Education which is a centre for secondary students and they charge HK$920 RM487) per hour for a course in mathematics. I have no idea how popular is this centre but its chief executive had just bought a property in Hong Kongs most prestigious addresses. He paid HK$916 million (RM485 million) for it. He is just 22 years old by the way…
Article in South China Morning Post here. The CEO of Causeway Education, Matthew Cheung Siu-woon bought a 8,674-square foot (806 square metres) house at Mount Nicholson on The Peak in June, according to a Land Registry document released on Wednesday. This purchase comes at a time when everyone expects the luxury property market to be dampened due to poor sentiment. Cheung is the executive director of his father Kenny Cheung’s company Cheung & Sons, which has businesses spanning real estate, education, agriculture, building materials and mining. Causeway Education is a unit under Cheung & Sons. The property arm of Cheung & Sons stretches across China, Hong Kong, Australia, the United Kingdom and the United States. “Over the past 20 years, we have led over 100 development projects with a total development area reaching 10 million square metre,” according to the firm’s website. “The projects range from residential to commercial, retail and industrial.” The article is a long one. Do read the Article in South China Morning Post here.
Three things we learnt here. Number 1. Real estate will always be a generator of wealth and with this wealth comes a lot of other businesses which will then create more sources of wealth. Cheung & Sons have proven that with their 20 years history and 100 development projects. Plus the latest news about this purchase of a luxurious real estate. Number 2. It’s expensive in Hong Kong and this is an advanced property market. Median income in Hong Kong for a household is HK$28,100 (RM14,800) per month. Many times higher than the median income in Malaysia but ownership of a roof over our heads will be vital in the future when we look at the rental for one. Number 3. Poor sentiment has got nothing to do with not buying a property. It has more to do with snapping up properties at a good price. It does not have to be a multi-million ringgit one. It can be a great one at a reduced price for example. Happy purchasing one.
<Featured Image is courtesy of Stock Photos from seaonweb >
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