Billionaire Francis Choi Buys out Sydney Tower for HK$1.6 Billion
The Hong Kong billionaire and founder of Early Light International Holdings purchased the first half of the tower in a HK$1.6 billion deal in 2018, reports Australian property news website The Urban Developer.
The 44-storey building underwent a HK$711 million renovation in 2013 before hitting the market five years later, and now includes a boutique hotel, co-working spaces and a rooftop bar.
Choi, who grew his fortune in toy manufacturing, is no stranger to Sydney’s luxury real estate. In 2017, the business tycoon snapped up the Australian Exchange Centre and office building 1 Castlereagh Street.
According to The Urban Developer, the sale is currently being approved by Australia’s Foreign Investment Review Board, and is expected to settle in September.