A group of luxury residential plots on Hong Kong’s prestigious Peak Road owned by businessman Chan King-wai has been placed on the market through a public tender, raising expectations that the eventual sale price may fall below the level implied by the original acquisition cost.

The adjoining properties at numbers eighty six, eighty eight and ninety Peak Road, which together cover roughly twenty eight thousand six hundred twenty square feet, are being offered jointly for sale.

The sites occupy one of Hong Kong’s most exclusive residential districts, long known for commanding some of the highest property prices in the world.

Property consultants involved in the marketing of the assets say potential bids could range between about seventy thousand Hong Kong dollars and one hundred thousand Hong Kong dollars per square foot.

The estimated range suggests the transaction could value the site below the price implied by the owner’s earlier purchase, indicating the possibility of a financial loss if the sale proceeds within that range.

Land registry records show the properties are held through two corporate entities.

Carino Ford owns the plots at numbers eighty six and eighty eight Peak Road, while Premier Zone owns the property at number ninety.

Corporate filings list Chan King-wai and his sons, Henry Chan Hang-lee and Antonio Chan Hang-tat, as directors of both companies.

Chan founded King Wai Group in the nineteen eighties, initially building the business through the textile trade before expanding into property, services and financial investments.

The group later developed a broad presence across mainland China, particularly in major commercial centres such as Guangdong, Shanghai and Tianjin.

The businessman shares a regional background with Hong Kong billionaire Li Ka-shing, both tracing their origins to the Chaoshan region of Guangdong province.

Chan acquired the Peak Road sites several years ago from companies linked to CK Group, adding them to a portfolio of high-value real estate investments.

The tender sale comes at a time when Hong Kong’s luxury property sector is adjusting to shifting market conditions, including higher interest rates and a more cautious investment environment.

Transactions involving ultra-prime homes have become less frequent compared with previous market cycles, prompting some owners to reassess holdings or reposition assets.

If bids fall within the projected range, the outcome would mark another example of a prominent Peak property changing hands below earlier valuations, underscoring the recalibration underway in the city’s high-end residential market.