Hutchison sells house for HK$740m

[HONG KONG] Hutchison Whampoa Ltd, controlled by Li Ka-shing, Asia's richest man, sold a house in Hong Kong's Victoria Peak area for HK$740 million (S$120 million), the second-highest paid for such property in the city.

The 6,863-square-foot house at the seven-home, 28 Barker Road project was sold to an unidentified buyer, according to the project's website.

The price is the second-highest paid in the city after a house on Pollock's Path in The Peak area sold for HK$800 million in 2011, according to broker Colliers International.